Allowed

Icici Bank Limited v. Om Namah Shivaya Agencies

DRT25 Nov 2025OA/558/2022

Case brief

AI extract

What is this about?

DRT allowed the bank's Original Application seeking recovery certificate for defaulted commercial vehicle and emergency credit loans. Despite defendants' ex parte status, the court found the claim valid. It awarded recovery of the principal amount with interest reduced to 11% p.a. simple interest.

What did the court decide?

Issue of recovery certificate for aggregate sum of Rs. 21,46,717.08 with further interest at 11% p.a. simple, recoverable from defendants jointly, severally and personally with access to their assets.

Icici Bank Limited versus Om Namah Shivaya Agencies — Contract and Commercial Disputes | DRT (2025)

¶1

IN THE DEBTS RECOVERY TRIBUNAL II, KARNATAKA AT BENGALURU

¶2

Dated this 25^th Day of November, 2025

¶3

Present: Sri. T. RAJESH Presiding Officer

¶4

OA.No.558/2022

¶5

BETWEEN:

¶6

ICICI Bank Limited, 4/10, Mythree Tower, Bommanahalli, Hosur Main Road, Bengaluru- 68, Represented through its Constituted Attorney, Sri. Pramodh G, Son of B Gurumallappa.

¶7

…APPLICANT

¶8

AND:

¶9

Om Namah Shivaya Agencies, A registered proprietary firm, Having its office at, Sy. No. 12, Vajapeyi Circle, Opposite Government School, Thirupalya, Bommasandra, Bangalore- 560 099, Represented by its Proprietor, Prabhu Kumar H R.

¶10

Prabhu Kumar H R, S/o Rajappa, Aged about 37 years, Residing at No. 49/4, 33^rd Main Road, Sarakki Garden, Near Siddeshwara Theater, J P Nagar 6^th Phase, Bangalore- 560078.

¶11

Smt. Asha, W/o Prabhu Kumar H R, Aged about 32 years, Residing at No. 49/4, 33^rd Main Road, Sarakki Garden, Near Siddeshwara Theater, J P Nagar 6^th Phase, Bangalore- 560078.

...DEFENDANTS

OA 558/2022

Counsel on record/appeared for:

¶16

Applicant : M/s. Vidhii Parners Defendants : Exparte

¶17

FINAL ORDER

¶18

The present Original Application in short (OA) has been filed under section 19 of Recovery of Debts and Bankruptcy Act 1993 seeking issuance of Recovery Certificate against the defendants for Rs. 21,46,717.08 (Rupees Twenty One Lakh Forty Six Thousand Seven Hundred Seventeen and Paise Eight Only) with further interest thereon from the date of filing the Application till realization. The 1^st defendant is a proprietary concern represented by its proprietor the 2^nd defendant and the 3^rd defendant is the co-obligant to the loans.

¶19

It is the case of the applicant that the defendants availed commercial

¶20

vehicle loan of Rs. 18,35,000/- (Rupees Eighteen lakh Thirty Five Thousand Only) and Emergency credit line guarantee scheme of Rs. 3,57,900/- (Rupees Three Lakh Fifty Seven Thousand Nine Hundred Only).

¶21

It is also the case of the applicant that, in view of the above availed loans, the defendants executed necessary loan documents along with deed of hypothecation and undertaking in relation to security.

¶22

It is further contended that, despite availing the credit facilities, agreeing to service the loan account promptly and regularly, the defendants failed in complying the same, resulting in default in repayment and consequentially turning the loan accounts as NPA.

¶23

OA 558/2022

¶24

¶25

In the above circumstances, the applicant approached this Tribunal

¶26

by filing this OA seeking issuance of Recovery Certificate for the balance amount due in the account.

¶27

Despite, summons on the defendants, they failed to appear resulting the defendants being set exparte on 03.10.2023.

¶28

The applicant had let in evidence through AW-1, who filed Proof Affidavit reiterating the contentions taken in the OA and also produced Exhibits A-3 to A-34 and got the same marked in evidence.

¶29

Heard the Ld. Counsel for the Applicant and considered the contentions as taken in the OA in the light of documentary evidence and proof affidavit.

¶30

The following issues arise for consideration in this matter:

¶31

i) Whether the applicant had succeeded in proving the OA claim

¶32

as against the defendants?

¶33

ii) What order are to be passed?

¶34

Both these issues are gone into and decided together.

¶35

The case put forth by the applicant in the Application remains

¶36

unrebutted as defendants remained exparte. The evidence tendered by the applicant remains uncontroverted and undisputed. The evidences put

¶37

forth by the applicant were found admissible and are sufficient to prove

¶38

OA 558/2022

¶39

¶40

availment of credit facilities as stated in the OA, creation of Hypothecation

¶41

and the defaults committed in the accounts. The liability of the defendants and the claim of the amount due are also proved by the above documents. The claim of the applicant is well within the limitation.

¶42

Hence in view of the findings arrived herein above, the Tribunal

¶43

find both these issues in favour of applicant and hence, this Tribunal is of

¶44

the view that OA is to be allowed.

¶45

Taking into consideration the facts that the credit facilities are

¶46

availed for Business purpose and also that the OA claim is arrived at by calculating interest at the agreed rate, this Tribunal in view of the OA can be allowed with a reduced interest of 11.00% (simple).

¶47

In the result, OA.No.558/2022, stands allowed,

¶48

i) The applicant is allowed to recovery an aggregate sum of

¶49

Rs. 21,46,717.08 (Rupees Twenty One Lakh Forty Six Thousand Seven

¶50

Hundred Seventeen and Paise Eight Only) with further interest @11.00 %

¶51

p.a.(simple) as follows:-

¶52

a) Commercial Vehicle Loan account of Rs. 17,57,019.08/- (Rupees

¶53

Seventeen Lakh Fifty Seven Thousand Nineteen and Paise Eight Only)

¶54

from the date of filing OA till the realization, from the defendants jointly,

¶55

severally & personally, after giving credit to all the amount recovered and

¶56

OA 558/2022

¶57

¶58

received during the pendency of the OA and allowed the same to be

¶59

recovered by proceeding against the defendants jointly, severally & personally and also proceeding against their assets including the hypothecated vehicle.

¶60

b) Emergency credit line guarantee scheme loan account of Rs. 3,89,698/- (Rupees Three Lakh Eighty Nine Thousand Six Hundred Ninety

¶61

Eight Only) from the date of filing OA till the realization, from the defendants jointly, severally & personally, after giving credit to all the amount recovered and received during the pendency of the OA and allowed the same to be recovered by proceeding against the defendants jointly, severally & personally and also proceeding against their assets. Schedule to the OA be the schedule to the recovery certificate.

¶62

ii) The applicant bank is allowed cost of the proceedings which

¶63

applicant to file cost memo within 7 days from the date of receipt of the order.

¶64

iii) The Recovery Certificate to be drawn in terms of this order and transferred to Recovery for execution.

¶65

iv) Interim application pending, if any, stands disposed of in terms of this final order.

¶66

Communicate a copy of the order to the parties concerned in terms

¶67

of Section 19(21)(i) of the RDB Act, read with Rule 16 of DRT (Procedure)

OA 558/2022

Rules, 1993.

[Dictated to the Stenographer (AJ), transcribed by her, corrected and signed and pronounced by me in the

¶72

Open Court, this the 25^th Day of November, 2025].

¶73

Sd/- (T. RAJESH)

¶74

PRESIDING OFFICER

¶75

ANNEXURES

¶76

WITNESSES EXAMINED FOR THE APPLICANT BANK:

¶77

AW-1: Pramodh G, Collection Manager, of Applicant Bank.

¶78

Exhibits on the part of the Applicant:

¶79

Exhibit Nos.	List of documents
A3	Power of attorney
A4	Registration certificate of OM Namah Shivaya Agencies
A5	Proforma invoice for Ashok Lyland Viking VK 1610
A6	Preliminary credit facility application form
A7	Addendum to the preliminary credit facility application form
A8	Credit facility application form
A9	Key facts statement and most important information
A10	Deed of hypothecation
A11	Irrevocable power of attorney
A12	Loan recall notice to the 1^stdefendant represented by the 2^nd defendant in respect of loan account No. LVBNG00040927981
A13	Endorsement
A14	Loan recall notice to the 3^rddefendant in respect of loan account NO. LVBNG00040927981
A15	Endorsement
A16	Foreclosure statement in respect of loan account No. LVBNG00040927981
A17	Loan account statement in respect of loan account No. LVBNG00040927981
A18	Sole proprietorship letter
A19	Certificate given by defendants
A20	Emergency credit line guarantee scheme- self undertaking by the borrower
A21	Preliminary credit line facility application bearing No. CB 999 429150
A22	Addendum to preliminary credit facility application

¶80

OA 558/2022

¶81

¶82

A23	Sanction letter
A24	Deed of hypothecation
A25	Undertaking in relation to security
A26	Direct debit mandate form
A27	Direct debit mandate form
A28	Loan recall notice to the 1^stdefendant represented by the 2^nd defendant in respect of loan account No. UVBNG00042141391
A29	Endorsement
A30	Loan recall notice to the 3^rddefendant in respect of loan account No. UVBNG00042141391
A31	Endorsement
A32	Foreclosure statement in respect of loan account No. UVBNG00042141391
A33	Loan account statement in respect of loan account NO. UVBNG00042141391
A34	Certificate under section 2-A of the Bankers’ books evidence Act, 1891

¶83

Witness Examined for the Defendants:

¶84

-Nil -

¶85

List of Documents Exhibited for the Defendants:

¶86

-Nil -

¶87

Sd/-
(T. RAJESH)
PRESIDING OFFICER

Icici Bank Limited v. Om Namah Shivaya Agencies

Case brief

What is this about?

What did the court decide?

Icici Bank Limited v. Om Namah Shivaya Agencies

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

Case details

Similar cases

Basil Co. versus Kerala Gramin Bank

Uco Bank versus Sh. Bachchan Kumar Singh

Kotak Mahindra Bank Limited versus Bhagwant Singh

Indu Kumari Pandey versus Union Bank of India

Bank of Baroda versus M/S K. K. Enterprises

State Bank of India versus Mr. Praveen