Allowed

Icici Bank Limited v. Mrs. Gujjala Padma

DRT2 May 2025OA/539/2024

Case brief

AI extract

What is this about?

In a debt recovery proceeding, the Tribunal ruled that absent defendants are jointly and severally liable to pay dues and future interest. The bank was directed to recover the sum and proceed against hypothecated assets.

What did the court decide?

Defendants liable to pay Rs.34,58,796.36 with interest; bank entitled to proceed against hypothecated and other assets for debt realization and hear costs.

Icici Bank Limited versus Mrs. Gujjala Padma — Contract and Commercial Disputes | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDEMBAD

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DATED THIS THE O2ND DAY OF MAY, 2025

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PRESENT: SH. MMESHWAR KoTHE, B.com,, L.LB. (Hons.), M.A. PRESIDING OFFICER

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ORIGINAL APPLICATION No: 539 OF 2024

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ICICI Bank Limited., Gachibowli, ICICI Towers, Serilingampally t4andat, Ranga Reddy District. Rep. by its Authorized Signatory.

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.....Applicant.

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Versus

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Mrs.GuIala^padma, Rep by its Prop GuIala padma, H.No. 1-1-1 152, Ground Floor, Siddharatha Nagar, Near Ra jlway Station, Kazipet, Hanamkonda,

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Warangal - 506004.

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Also at:-

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Mrs.Gujjala^padma, W/o.Komuraiah Reddy, Aged 61 Years, Occ: Business, H.No.3-6-240, Indranagar, Hanamkonda, Dh Suthoon, Near Railway Station, Wa rangal - 506011.

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Gujjula Durgaiah, S/o. Gujjata Bondaiah, Aged 79 Years, Occ: Self Employed, H.No.3-6-240, Indranagar, Hanamkonda, Dh Suthoon, Near Railway Station, Warangal - 506011.

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...Defendants

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Counsel for the Applicant

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Defendants

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M/s.G,Adrian Kiran Raj ex-parte 7futz^f i_,.^{.r -}

oA.NO.539/2024

:: ORDER^::

I. The Applicant^{Bank filed the present OA for the recovery a total} sum of^{Rs.34,58,796'36psas on 24 09 2024 from the} defendants^{jointlyand severally with future interest@24olo p a'} with monthly^{restsfrom 24'Og '2024 till the dateof realization} alongwithcostsandindefaultforSaleofhypothecatedassets.

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paper^{publication.They}

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1. Summons^{served on D1 and 2 through} called absent^{and no}

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were set^{ex-Parteon 06 03 2025as} representation.

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The Applicant^{Bank examined K Rajayaswanth' Manager'as} AW-1 and^{marked 14 documentsthrough him as Ex' A'1 to Ex'} A.14.

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Ld. Counsel^{for the ApplicantBank reported orders may be} passed through^{merits. Perused the materialplaced on 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^{and OA hypothecated}

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assets²

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As stated supra,^{the Defendants remained ex-parte The} Evidence Affldavit^{coupled wlth the recitalsin the documents} viz., Exs.A.1^{to A.14 marked on behalf of the ApplicantBank} clinches the^{claim of the Applicant Bank against the Defendants'} Hence, I hold^{that the Defendantsare jointlyand severally liable} to^pay the^{OA claim to the ApplicantBfnk witn futureinterest} //y\$6_z ^e

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and costs. /J// d".nv- '

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oA.NO.539/2024

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In the result, the present Original Application No.539/2024^is allowed as under: -

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i) The Defendants are^jointly and severally liable to^pay to the Applicant Bank a^{sum of} Rs.34,58,796.36ps as on 24.09.2024^with future interest @11.50o/o^p.a. simple from the date of application till the date of realization;

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ii) the OA claim is secured by way^of hypothecation of assets described in^the schedule annexed to the OA and^the applicant bank is entitled to^proceed against the same to realise its debt;

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iii) the applicant bank is also entitled to^proceed against the^person and^propertiesof defendants for realization of^{its dues;}

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iv) the applicant bank is entitled for the costs.

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B. The Applicant Bank is directed to file Cost^{Memowithin2 weeks} from the date of receipt of this Order.

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Issue Recovery Certificate according ly.

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Communicate a copy of this order to^{the parties concerned.} (Dictated to the steno, corrected, signed and^pronounced by me in the^{open court on} this the 02"d Day of May, 2025).

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'.\).... .;

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' t-'^- '

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(RAMESHWAR KOTHE) PRESIDING OFFICER

Icici Bank Limited v. Mrs. Gujjala Padma

Case brief

What is this about?

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Icici Bank Limited v. Mrs. Gujjala Padma

Case brief

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What did the court decide?

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