Allowed

Icici Bank Limited v. M/S Sai Bhargava Filling Station

DRT30 Apr 2025OA/500/2024

Case brief

AI extract

What is this about?

Debts Recovery Tribunal-II, Hyderabad allowed an Original Application filed by ICICI Bank Ltd. for recovery of Rs. 83,63,639.02 plus interest and costs from M/s. Sai Bhargava Filling Station and the proprietor, Mrs. Sreedevi Rathanam, in their absence.

What did the court decide?

Defendants jointly and severally liable to pay Rs. 83,63,639.02 with future interest at 10.50% p.a. simple, costs, and procedure to realize dues; Recovery Certificate issued.

Icici Bank Limited versus M/S Sai Bhargava Filling Station — Banking and Recovery | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD DATED THIS THE 3OTH DAY OF APRIL, 2025 ' PRESENT: SH. RAMESHWAR KOTHE, B.Com., L.LB. (Hons.), M.A. PRESIDING OFFICER

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Original Application No: 500 OF 2024

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ICICI BANK Ltd., Branch Office at ICICI Bank Towers, 4th Floor, Capital Market Division, North Wing, Sy No.115/27, plot No.12, Nanakramguda, Gachibowli, Hydera bad- 500032, Rep. by its Authorized Signatory.

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...Applica nt

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Versus

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M/s. Sai Bhargava Filling Station, Sy No.111, Main Road, Valigonda, Yadadri, Telangana: 508112 Proprietary concern, Represented by its Sole^proprietor Mrs. Sreedevi Rathanam.

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Mrs. R. Sreedevi, Aged: Major, Occ: Business, R/o Sy No.111, Main Road, Valigonda, Yadadri, Telangana: 508112.

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...... Defendants

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Counsel for the Applicant : M/s.V. Dharmasuri

Defendants

: Ex-parte

:: ORDER ::

The Applicant Bank filed the present OA for the recovery of a sum of Rs.83,63,639.02ps as on 02.02.2024 from the defendants joinUy I "r,'r - {,'"";t''

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OA.No.500/2024

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and severally^{with future interest @11 25olo p a from the date of} application^{till the date of realisation alongwith costs'}

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Paper Publication.^TheY

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1. Summon^{servedon D1 and D2 through} called absent^{and no}

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were set ex-parte^{on 12.03'2025as} representation.

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The Applicent^{Bank examined Kalva Rajayaswanth'Area} Relationship^{Manager as AW-1and marked 07 documents through} him as^{Ex. A.1toEx. A.7'}

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Ld. Counsel^{for the ApplicantBank statedorders may be passed on} merits and^{perused the materialplacedon record'}

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

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Whether^{the Applicant Bank is entitled for} the claim^{made in the OA against the} Defendants?

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As stated^{supra, the Defendantsremained ex-parte'TheEvidence} Affidavit^{coupled with the recitalsin the documentsviz'' ExsA'1 to} A.7 marked^{on behalf of the ApplicantBank clinches the claim of the} Applicant^{Bank against the DefendantsHence' Ihold that the} Defendants^{are jointly and severally liable to pay the OA claimto} the Applicant^{Bank with future interest and costs'}

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In the result,^{the present Original ApplicationNo 500/2024is} allowed^{as under:-}

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i) The^{Defendants are jointly and} severally^{liableto pay to} Rs.8 3,6 3,6^{3 9} '^0-2 Ps^with

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the Applicant^{Bank a sum of} ffitrn"

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OA.No.500/2024

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future interest @^{10.50o/op'a' simple,} from the date^of application till^{the date of realization;}

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ii) the applicant^{bank is also entitled to} proceed against the Person and Properties^{of the} defendant^for realization of^{its dues;}

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iii) the applicant^{bank is entitledfor the costs'}

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B. The Applicant^{Bank is directedto file CostMemo within 2 weeks} from the date^{of receipt of this Order'}

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q Issue Recovery^{Certificate accordingly'}

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Communicate^{a copy of this order to the parties concerned'} (Dictated to the steno., tr"nscrib"d^{Ly him, corrected,iignedand pronouncedbymein the} open court^{on this the30th day of April,2025)'}

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A*,y,,n>fi / V^''tto''

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(MMESHWAR^KOTHE) PRESIDING^OFFICER

Icici Bank Limited v. M/S Sai Bhargava Filling Station

Case brief

What is this about?

What did the court decide?

Icici Bank Limited v. M/S Sai Bhargava Filling Station

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

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