Debt Recovery Tribunal allowed ICICI Bank's application to recover Rs.28.23 lakhs from Sh. Dalbir Singh, absent defendant. Court awarded 8% simple interest and directed issuance of Recovery Certificate.
Recovery of Rs.28,23,067.00 with 8% simple interest; Issuance of Recovery Certificate; Enforcement via sale of hypothecated vehicle or attachment of personal assets.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
DEBTS RECOVERY TRIBUNAL-III, CHANDIGARH
ORIGINAL APPLICATION NO.455/2025
PRESIDED OVER BY MRIDULESH KUMAR SINGH
DATE OF INSTITUTION: 03.04.2025
DATE OF DECISION: 25.09.2025
ICICI BANK Ltd., having its Registered Office at Near Chakali Circle Old Padra Rd, Vadodara, Gujarat -390007 having its branch office at Patiala, Punjab also at ICICI Bank Ltd., SCO.143, a City Emporium Mall, Industrial Area, Phase-1, Chandigarh -160002 through its Authorized representative Mr. Jatinder Mishra.
……..Applicant Versus
Sh. Dalbir Singh S/o Sh. Asaib Singh R/o Village Kalyan District Patiala -147001.
….……Defendant Advocates:
Argued by Sh. Amit Rishi, Advocate for Applicant
Defendant already ex parte
FINAL ORDER
2 OA NO. 455/2025 ICICI BANK LIMITED VS. SH. DALBIR SINGH
3 OA NO. 455/2025 ICICI BANK LIMITED VS. SH. DALBIR SINGH
defendant failed to pay back the loans as per terms and conditions of the agreement between the parties. Subsequently, accounts of the defendant were classified as NPA. From the documentary evidence brought on record, it is proved that applicant is entitled to recover a sum of Rs.28,23,067.00p (Rupees Twenty Eight Lakh Twenty Three Thousand Sixty Seven Only) along with interest from the defendant, from the date of filing of the present Original Application till realization of the accounts.
The Tribunal is of the considered opinion that sometimes in appropriate cases the prerogative of mercy is the brightest jewel in the crown of the Judge. Keeping in view the facts and circumstances of the instant case including nature of the mortgaged property/hypothecated assets, undertaking of the defendant, quantum of loan and prevalent market rates of interest which have gone drastically downhill in yester years, while exercising the discretion vested in this Tribunal, this Tribunal deems it just and appropriate to grant uniform simple interest @8.00%p.a. in both the loan accounts from the date of filing of the OA till realization of the amount ordered vide this final order. It is ordered accordingly.
4 OA NO. 455/2025 ICICI BANK LIMITED VS. SH. DALBIR SINGH
| by a | ttachment and sale of personal assets of the defendant. The |
|---|---|
| appli | cant is at liberty to enforce the claim through due process of law. |
| 12. | Any other application pending stands disposed of. |
| 13. | Issue Recovery Certificate accordingly. |
| 14. | Parties to appear before Learned Recovery Officer of this Tribunal |
| on 1 | 7.10.2025. |
| 15. | Copy of this order be given dasti to the applicant and be sent to |
| defen | dant through registered/speed post and this order be also |
| uploa | ded on the official website of this Tribunal and record be consigned. |
| Pron | ounced by me in the open Tribunal. |
| Date | d: 25.09.2025 |
| (MRIDULESH KUMAR SINGH) | |
| Presiding Officer, | |
| DRT-III, Chandigarh |
2 issues framed by the court
Whether the applicant is entitled to recovery of the outstanding loan amount and interest from the defendant.
What rate of interest is appropriate to be granted for pending dues and future amounts.
2 provisions across 2 enactments
ICICI Bank Ltd.
Mridulesh Kumar Singh
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
