Allowed

Icici Bank Limited v. Momin Shaikshavali

DRT25 Apr 2025OA/564/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an original application filed by ICICI Bank for recovery of a loan amount Rs. 32,12,169/- along with future interest and costs against the borrower and guarantor. The defendants attended through counsel but failed to file a written statement or adduce evidence.

What did the court decide?

Defendants held jointly and severally liable to pay Rs.32,12,169/- with future interest @10.51% p.a. simple; applicant entitled to costs and recovery certificate.

Icici Bank Limited versus Momin Shaikshavali — Contract and Commercial Disputes | DRT (2025)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDEMBAD OATED THIS THE TWENTYFIFTH DAY OF APRIL, 2025 PRESENT: SH. MMESHWAR KOTHE, B.Com. L.LB. (Hons.), N1.A. PRESIDING OFFICER

¶2

ORIGINAL APPLICATION NO. 564 OF 2023

¶3

Between:

¶4

ICICI Bank Limited Gachibowli Branch ICICI Towers Serilngampally Mandal Ranga Reddy Dist. Rep by its Authorised Signatory.

¶5

....Applicant.

¶6

And

¶7

Mr. Momin Shaikshavali S/o Momin Usman Basha Aged: 38 years Occ: Self Employee H. No. t/34/9/30 Tana Check Post Raja Street, Near - Hanuman Temple Atmakur, Kurnool-518422.

¶8

Also at:

¶9

Mr. Momin Shaikshavali S/o Momin Usman Basha

¶10

Aged; 38 years, Occ: Self Employee H. No. 1-25-96, Saibaba Naqar Near Hanuman Temple Atmakur, Kurnool-518422.

¶11

Mr. ShaikNazeeer Hussain S/o Shaik Shamshuddin Age: 58 years, Self-Employee H. No. 87-1388-3, Jayaram Nagar Near Nandyal Check Post Kurnoot-s18002, A.p. Y,iior,

oa.56412O23

Also at:

Mr. Shaik Nazeeer Hussain S/o Shaik Shamshuddin

¶16

Age: 58^years, Self-Employee H. No. 3-95/1,Thanda^Medchal Near water Tank Rajabollaram, HYderabad-501401.

¶17

..... Defendants.

¶18

Counsel for Appllcant Mr. G. Adrian Kiran^Raj. Defendants No representation.

¶19

:: ORDER :;

¶20

The Applicant Bank filed the^{presentOA for the recoveryof a} sum of Rs.32,12,59/-^{jointlyand severally from the defendants} with future interest @24olo^{per annumwlth monthlyrests from} the date of Application till^{the date of realisationalong with} costs.

¶21

The averments of applicant^{bank as per the OA, briefly, are that} 1"t defendant is the borrower^{and 2nd defendant is the} guarantor to the loan. The 1"t defendant availed^{a loan of} Rs.32,L2,169/- vide loan account^{No. UVAUT00042312344for} purchase of commercial vehicle by hypothecating the^{same to} the applicant bank. The^rate of^{interest applicable to the loans} is 10.51olo^p.a. variable on monthly^{basis with a penaltyclause.} Defendants executed necessary loan documents.^Defendants availed Covid.19 Pandemic^{moratorium.Defendants committed} default in repaying the loan amount of^{Rs.32,12,169/-'The} loan account became irregular since^{01.04.2022.Despite recall} notice dated 24,06,2022. defendants falled^{to clear the dues}

¶22

7/$o"e

¶23

oA.56412023

¶24

Though defendants entered appearance through their Counsel, Mr. Momin Mohammad Rafiq, they did not choose to file written statement, adduce evidence or advance arguments. Accordingly, their respective rights to file written statement, adduce evidence and advance arguments were forfeited.

¶25

Applicant Bank examined N. Chandrasekar, Regional Relationship Manager as AW-1 and marked 19 documents through him as Ex. A.1 to Ex. A.19.

¶26

Learned counsel appearing for the applicant reported no oral arguments. Perused the written arguments filed by the applicant bank and the material placed on record.

¶27

Learned counsel appearing for the applicant submits that defendants did not pursue the matter right from the stage of filing written statement till the stage of arguments. Therefore, applicant bank is entitled to the OA claim in view of evidence affidavit of AW.1 coupled with recitals in Exhibits A.1 to A.19. Accordingly, learned counsel prayed for allowing the OA claim in favour of the applicant bank and against the defendants.

¶28

The point that arises for consideration is:-

¶29

Whether the Applicant Bank is entitled for the OA claim against the Defendants?

¶30

As stated supra, defendants have not pursued the case except entering appearance through a counsel. Under such circumstances, the Evidence Affidavit of AW.1 coupled with the recitals in documents viz.. Exs.A.1 to A.19 marked on behalf of )^n,)n-, ,*^l-J_

' ' 14'

0,A,56412023

the Applicant Bank remains unchallenged and un-rebutted and thus clinches the claim of the Applicant Bank against the Defendants. Hence I hold that defendants 1 and 2 are jointly and severally are liable to pay the claim made by the Applicant Bank in the O.A. with future interest and costs.

¶35

In the result, the present Original Application No.564/2023 is allowed as under: -

¶36

i) defendants 1 and 2 are joinUy and severally liable to pay a sum of Rs.32,12,169/- to the applicant bank with future interest @10.51olo per annum simple from the date of application till the date of realization;

¶37

ii) the applicant bank is also entitled to proceed against the person and properties of the defendants for realization of its dues; and

¶38

iii) the applicant bank is entiUed for the costs.

¶39

The Applicant Bank is directed to file Cost Memo within 2 weeks from the date of receipt of this Order.

¶40

Issue Recovery Certificate accordingly.

¶41

L2. Communicate a copy of this order to the parties concerned and upload on official Web^portal.

¶42

(Dictated to the steno, signed and pronounced by me in the open court on this the 256 day ofApril,2025).

¶43

,tflffi*@ 1nn{esnwnR^KoTHE) PRESIDING OFFICER

Icici Bank Limited v. Momin Shaikshavali

Case brief

What is this about?

What did the court decide?

Icici Bank Limited v. Momin Shaikshavali

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

Coram

Case details

Similar cases

Union Bank of India versus M/S Irya Apparels

Hdfc Bank Ltd., versus M/S Progressive Press Pvt. Ltd.

Axis Bank Ltd., versus Kamalamma Jetavath

Punjab National Bank versus Mr. Vemuri Ravi Kiran

Icici Bank Limited versus Sri Satya Praveen Mobiles

Icici Bank Limited versus Divya Earth Movers