Allowed

Icici Bank Limited v. Gururaj Prasad Auto Mobiles

DRT17 Jun 2025OA/436/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the execution money recovery application filed by ICICI Bank Limited against the defendants for a sum of Rs. 23,48,611.50 as on 30.08.2024 with future interest.

What did the court decide?

Joint and several liability to pay Rs. 23,48,611.50 with future interest @ 12% p.a. from the date of application till realization; direction to file cost memo; issuance of Recovery Certificate.

Icici Bank Limited versus Gururaj Prasad Auto Mobiles — Banking and Recovery | DRT (2025)

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iN THE DEBTS RECOVERY TRIBUNAL-II AT HYDEMBAD ATED THIS THE LTTH DAY OF JUNE, 2025

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PRESENT: SH. RAMESHWaR-KOTHE, B.Com., L,LB. (Hons.), M.A. PRESIDING OFFICER

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Originat Application No: 436 OF 2024

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ICICI Bank Limited.. Gachibowli, ICICI Towers, senrtngampally Mandal. Ranga Reddy District. Rep. by its Authorized Signatory.

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. . .Applica nt

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Versus

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Gururaj prasad Auto Mobiles., I:l^{b.t'F.l.oprietorMeena Jain,} olo. L0/A/2, Kelspur, Komaram tsheem, Asifabad _ 504293, TS.

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Meena Jain, R/o.LO/A/2, Kelspur, Komaram Bheem, Asifabad - SO42g3,TS.

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...... Defendants

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Counsel for the Applicant : M/s.G.Adrian Kiran Raj

Defendants

: Ex-parte

:: ORDER ::

1' The Appricant Bank fired the present oA for the recovery of a sum of Rs.23,48,611.50ps as on 30.08.2024 from the defendants joinily and severally with future interest @24o/o p.a. with monthly rests from 30.08.2024 till the date of realisation along with costs.

¶15

Summon served on D1 and 2. They were set ex-parte on 26.12.2024 as called absent and no represent ation7fuoV.p

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oA'No'435/2G24

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The Manager^{Applicant as AW-1 Bank and examined K'Rajayaswanth' marked 0B documentsthrough Area Relationshiphim as Ex'} A.1 to^{Ex' A'B'}

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Ld. Counsel^{for the Applicant Bank stated ordersmay be passedon} merits.^{Perusedthe materialplaced on record'}

¶20

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The^{point that arises for consideration is:-}

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Whether^{the AppticantBank is entitled for} -maZie in tne OA against the the claim Defendants?

¶23

As Affidavit stated^{coupled supra, with the the Defendants recitals in remained the documents ex-parte' The viz'' Exs' EvidenceA'1 io} A.g^{marked on beharf of the Applicant Bank crinchesthe claim of the} Applicant^{Bank againstthe Defendants'Hence' Ihold that the} Defendants^{are jointlyand severally liable to pay the OA claim to} the Applicant^{Bank with futureinterestand costs'}

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In the^{result, the present originaI ApplicationNo,43612024 ts} allowed^{as under: -}

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i) The^{Defendants are jointly and severallyliable to pay to} the Applicant^{Bank a sum of Rs'23'48'611'50ps as on} 30.08.2024^{with future interest@l2o/o p'a' simple'} from the^{date of applicationtill the date of realization;}

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ii) the applicant^{bank is also entitled to proceedagainst} the^{person and propertiesof the defendantfor} rea lization of^{its d ues;}

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iii) the applicant^{bank is entitledfor the tottt'} .,,,u,r. _.. ,O , '. \ t'! -^tl,'-'-

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OA.No.436/2024

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The Applicant Bank is directed to file Cost Memo within 2 weeks from the date of receipt of this Order.

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Issue Recovery Certificate accordingly.

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Communicate a copy of this order to the parties concerned. (Dictated to the steno., transcribed by him, corrected, signed and pronounced by me in the open court on this the 17th day of June, 2025).

¶33

fun*q (RAMESHWAR KOTHE) PRESIDING OFFICER

Icici Bank Limited v. Gururaj Prasad Auto Mobiles

Case brief

What is this about?

What did the court decide?

Icici Bank Limited v. Gururaj Prasad Auto Mobiles

Case brief

What is this about?

What did the court decide?

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