Allowed

Icici Bank Limited v. Sanjeev Kumar Gupta

DRT6 Oct 2025OA/494/2023

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed an original application for recovery of a personal loan. The applicant bank proved the default through documentary evidence while the defendant remained absent. The court reduced the interest rate to 12% p.a. and directed issuance of a recovery certificate.

What did the court decide?

Recovery of Rs.24,48,873.98 payable within 30 days along with interest at 12% p.a. from 20.12.2022 and costs.

Icici Bank Limited versus Sanjeev Kumar Gupta — Contract and Commercial Disputes | DRT (2025)

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O.A. No.494 of 2023

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Debts Recovery Tribunal-I, Delhi 4th floor, Jeevan Tara Building, Parliament Street, New Delhi

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Presiding Officer: Shri Govind Ballabh Sharma

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O.A. No.494 of 2023

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ICICI Bank Ltd.

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Videocon Tower, Block El,

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Rani Jhansi Road,

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J iandewalan Extension

New Delhi-110055

Applicant

Versus

Sanjeev Kumar Gupta s/o Sh. Rajnath Gupta Indraprastha Apollo Hospital

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Sarita Vihar Delhi Mathura Road

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New Delhi-110076

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Also at:

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Sanjeev Kumar Gupta s/o Sh. Rajnath Gupta

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J-3/76 B, 2nd floor,

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Khirki Extension, New Delhi-110017 Defendant

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Present: Mr. Rajeev Sagar, Counsel for the applicant bank

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Date of Reserve : 09.09.2025

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Date of Pronouncement: 06.10.2025

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FINAL ORDER

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This original application has been filed by the applicant bank on 24.04.2023 through Sh.Nitesh Vashisht, authorized representative of the applicant bank under Section 19 of Recovery of Debts Due to Banks and Financial Institutions Act, 1993 against the defendant for recovery of a sum of Rs.24,48,873.98 (Rupees Twenty Four Lacs Forty Eight Thousand Eight Hundred Seventy Three and paisa Ninety Eight only) as on 19.12.2022 along with pendentelite and future

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O.A. No.494 of 2023

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interest @12.25% per annum from 20.12.2022 till the date of realization along with costs.

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The brief facts of the case are that on the request of the defendant dated 15.07.2019 along with KYC details including financials, the applicant bank sanctioned Personal Loan facility for Rs.24,00,000/- (Rupees Twenty Four Lacs only) on 15.07.2019 @12.25% rate of interest per annum to be repayable in 67 monthly installments.

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In order to avail the loan facility, the defendant submitted loan application and executed Preliminary Credit Facility Application Form, Credit Facility Application Form and Personal Loan Agreement dated 15.07.2019 with the applicant bank.

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It has been submitted by the applicant bank that after availing the aforesaid loan facilities, the defendant failed to comply with the terms and conditions of sanction and failed to regularize the account with the applicant bank. Ultimately, the applicant bank issued legal demand / recall notice dated 19.09.2022 but defendant failed to regularize the account and hence the applicant bank has approached this Tribunal for recovery of their dues.

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Notices of this O.A. were issued to the defendant and respite of proper service, the defendant has chosen to absent f-om the proceedings. As per order dated 21.05.2025, the defendant has been proceeded ex-parte as not appeared before the Tribunal and even written statement, evidence and affidavit of assets have not been filed by the defendant.

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In order to prove its case, the applicant bank has filed its evidence by way of affidavit of Sh.Nitesh Vashisht, authorized

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O.A. No.494 of 2023

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representative of the applicant bank, who has proved the documents as Power of Attorney Ex.AW-1/1, Preliminary Credit Application Form Ex.AW-1/2 (Colly), Credit Facility application form Ex.AW-1/3, Disbursement Memo Ex.AW-1/4„ Loan Recall Notice and Postal Receipts Ex.AW-1/5 & Ex.AW-1/6, Certificate under Section 65B of Indian Evidence Act Ex.AW-1/7, Statement of Account Ex.AW-1/8.

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The applicant bank has fully corroborated the averments made in the O.A. Even otherwise the whole case of the applicant bank is based on the documents and the same have been duly approved.

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The case filed by the applicant bank gone unrebutted and there is no question of disbelieving the case of the applicant bank and the applicant bank has proved its case beyond reasonable doubts.

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As per the provision of Section 19(20) of the Recovery of Debts Due to Banks and Financial Institution Act, 1993 which is analogous to Section 34 of CPC, on filing of the suit/claim, the contract between the parties comes to an end and the Court/Tribunal has a discretion to award the same depending upon the circumstances of each case. Same principle has been laid down by the Hon'ble Apex Court in the case of Central Bank of India Vs. Ravindra & Others. Taking stock of all the circumstances and keeping in view that there is a drastic fall in rates of interest globally and domestically, I am of the opinion teat interest of justice will be served if the interest at the rate of 12% p.a. is awarded

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In the light of the above discussions, the Original Application deserves to be allowed.

O.A. No.494 of 2023

ORDER

I, allow this OA and direct the defendant to pay to the applicant bank, within a period of 30 days, a sum of s.24,48,873.98 (Rupees Twenty Four Lacs Forty Eight housand Eight Hundred Seventy Three and Paisa Ninety Eight •nly) as on 19.12.2022 together with pendentelite and future terest @12% per annum with monthly rests from 20.12.2022 t II the date of realization and costs; failing which the aforesaid amount shall be recovered from the sale of movable and i movable properties of the defendant.

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I) The recovery certificate be issued forthwith and be sent t • the Recovery Officer, Debt Recovery Tribunal-I, Delhi.

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( II) Parties are directed to appear before the Recovery fficer, DRT I, Delhi on 04.12.2025.

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V) Copies of final order as well as Recovery Certificate be s nt to all concerned free of cost.

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(GOVIND BALLABH SHARMA) PRESIDING OFFICER DRT-I, DELHI

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ictated and pronounced in open court) ated: 06.10.2025

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Icici Bank Limited v. Sanjeev Kumar Gupta

Case brief

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Icici Bank Limited v. Sanjeev Kumar Gupta

Case brief

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