Allowed

Icici Bank Limited v. Padam Kumar

DRT19 Dec 2025OA/572/2025

Case brief

AI extract

What is this about?

The Tribunal allowed the bank's application for recovery of Rs. 28 lakhs against borrowers who defaulted on a KCC Farmer Finance loan. The bank was granted joint and several liability against the respondents and authorized to recover dues via hypothecated and personal assets with 10% interest.

What did the court decide?

Recovery certificate issued for Rs. 28,02,757.73 plus 10% simple interest from 04.09.2024; permission to recover from hypothecated and personal assets.

Icici Bank Limited versus Padam Kumar — Company and Corporate | DRT (2025)

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“ORIGINALAPPLICATION” No. 572 of 2025

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BEFORE THE DEBTS RECOVERY TRIBUNAL, JAIPUR PRESENT- SHRI VIMAL GUPTA

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PRESIDING OFFICER

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O.A. NO. 572 OF 2025

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DATE OF DELIVERY OF ORDER 19.12.2025

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ICICI Bank Limited, Registered Office at ICICI Bank Tower, Near Chakli Circle, Old Padra Road, Vadodara - 390007, Gujarat and Branch Office at JSEL Building, 3rd Floor, Behind Gaurav Tower, JLN Marg, Malviya Nagar, Jaipur, through its Authorized Signatory Mr. Abhishek Tulsian. (ICICI Ltd, A/c No.-000405007982, Branch- Nariman Point Mumbai, IFSC1CIC0000004).

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…..Applicant Bank…..

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VERSUS

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1. Sh. Padam Kumar Nagar S/o Sh. Prabhu Lal Kharsolia R/o 240, Holi Ki Khunt, Village Karavar, Tehsil Nainwa, Bundi323616, Rajasthan.

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2. Late Sh. Prabhu Lal Kharsoliya (deceased) through its legal representatives:

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2.1 Sh. Padam Kumar Nagar S/o Sh. Prabhu Lal Kharsolia R/o 240, Holi Ki Khunt, Village Karavar, Tehsil Nainwa, Bundi- 323616, Rajasthan.

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2.2 Kailash Bai D/o Late Mr. Prabhu Lal, R/o 240, Hoki Ki Khunt, Village Karavar, Tehsil Nainwa, Bundi- 323616, Rajasthan.

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3. Smt. Sanju Devi W/o Sh. Padam Kumar Nagar R/o 240, Holi Ki Khunt, Village Karavar, Tehsil Nainwa, Bundi323616, Rajasthan.

……Defendants…..

OA No. 572 of 2025

Counsel for the Applicant Bank Sh. Vineet Sharma Defendants None

¶18

JUDGMENT

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This Original Application was filed by the applicant bank on 20.03.2025 for recovery of outstanding amount of Rs. 28,02,757.73/- from the Defendants.

¶20

As per the pleadings, the Defendants as Borrower and CoBorrowers had approached the applicant bank in the year 2015 for seeking credit facility in the form of KCC Farmer Finance and in pursuance of the same, they submitted application form being Farmer Finance Facility Application Form. That, as per the representations and promises made by the Defendant(s), the applicant bank initially sanctioned the credit facility on 28.10.2015 for a sum of Rs. 28,48,400/under the loan account bearing no. 686051200807. That to secure the credit facility the defendants specifically agreed to mortgage the immovable property as mentioned in Para 3A of this present Application.

¶21

It is submitted that, in this manner the applicant bank after perusal of the defendants paying capacity and on agreeing of various terms and conditions and covenants, granted total loan amount of Rs. 28,48,400/-. That, timely repayment of the dues is the essence of the loan agreement. That, under the terms and conditions of the said facility, the defendants agreed to comply with the terms and conditions including service of interest /repayment of the loan.

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OA No. 572 of 2025

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It is submitted that it was further agreed vide the said Loan accounts that the Defendants shall maintain the repayment schedule and further service interest and pay the installments in the timely manner. Further the defendants also agreed to repay interest along with other charges as stated in the loan agreement. It is also not out of place to mention herein that it was agreed that in the case of overdue/delays/defaults by the defendants the applicant bank shall be entitled to charge an additional/default/penal charges at the rate mentioned hereunder from the defendants on overdue/delays/defaults of any monies payable.

¶25

It is submitted that the defendants failed to maintain proper financial discipline and committed defaults on regular basis. That as a result of defaults committed by the defendants on regular basis, and as per the Statement of Accounts 10.03.2025 a sum of Rs. 28,02,757.73/- is outstanding against the Defendants, in the manner prescribed. Computer Generated Statement of Accounts for 686051200807 dated 10.03.2025 pertaining to loan account are submitted herewith.

¶26

It is submitted that, looking to the regular defaults committed by the Defendant(s), the applicant bank issued loan recall notices dated 23.08.2024 pertaining to the aforesaid Loan Accounts), despite of which the Defendant(s) failed to clear the due amount of the applicant bank. The Original office copy of Loan Recall Notices dated 23.08.2024 along with Postal Receipts are being filed herewith.

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OA No. 572 of 2025

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It is submitted that, since the Defendants has failed to make payment of the principal as well as interest amount to the Applicant Bank therefore the Applicant Bank is entitled to charge default/penal interest on the defaulted amount for the defaulted period. The interest/compound interest has been charged by the Applicant Bank at such rates and at such periodical rates as are permitted. The Applicant Bank has also provided the Defendant(s) with the statement of accounts from time to time. Original Certificate in view of section 2(A) of Bankers Book Evidence Act has also been filed along with this application.

¶30

It is submitted that, thus a total amount of Rs. 28,02,757.73/has become due and recoverable against the Defendants, which the applicant bank is entitled to recover from the Defendants. The applicant is also entitled to realize outstanding amount by the sale of personal properties of the Defendants.

¶31

The looking at the valuation of the claim as well as the residence and place of working of the Defendants and the accrual of the cause of action, this Hon'ble Tribunal has got jurisdiction to entertain, try and decide the present claim petition.

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10.The Applicant further states that it is also just and necessary and in the interest of justice and equity that the Defendants be ordered and directed to file a comprehensive affidavit disclosing all their assets, movables and immovable, fixed and/or current assets including all receivables within a

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OA No. 572 of 2025

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period of 2 weeks or within such period as this Hon'ble Tribunal may deem fit and proper. It is also just and necessary that the Defendants be ordered and directed to file their Income Tax Returns for the last three financial years to ascertain the details of their assets which can be made available for attachment and sale for realization of the aforesaid decrial dues. This Hon'ble Tribunal also pleased to restrain Defendants by an order and injunction of this Hon'ble Tribunal from dealing and/or alienating the assets and properties that may be disclosed on oath pursuant to the aforesaid Affidavit and also the properties described hereto which is known to be owned by them by the Applicant to secure and protect its claim. The Applicant is entitled to file this Recovery Application against the Defendants to recover the amount due to it.

¶36

11.It is submitted that, the applicant bank submits that as stated herein above, the Defendants are liable to pay to the Applicant a sum of Rs. 28,02,757.73/- together with pendente lite and future interest with monthly rests since the Defendants have committed breach of terms and conditions of the loan agreement. The Applicant Bank apprehends that unless effective interim orders are passed in favour of the Applicant Bank, the purpose of the institution of these proceedings will be defeated and the Applicant Bank will not be able to recover its lawful dues from the Defendants. The Applicant Bank's money is public money and, therefore, it has got a special equity in its favour. The Applicant Bank submits that it has a strong prima facie case, duly supported

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OA No. 572 of 2025

¶39

by the documents and further the balance of convenience is also in favour of the Applicant Bank and if the interim reliefs sought by the Applicant Bank are not granted, the Application Bank will suffer irreparable loss.

¶40

12.Defendants failed to maintain financial discipline and therefore, their loan account was classified as NPA on. Applicant Bank has therefore, filed this original application for recovery of its dues against the Defendants.

¶41

13.Summons were issued to the Defendants on 01.05.2025. Counsel for the Applicant Bank filed affidavit of service on 04.09.2025 and receiving of Dasti summons with photograph on 06.09.2025. The Defendant No. 2 is deceased and the legal representatives were allowed to be taken on record. Despite service none appeared on behalf of the Defendants.

¶42

14.Heard arguments and perused the record.

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15.As stated supra, the Applicant Bank filed the evidence affidavit of Shri Abhishek Tulsian coupled with the recitals in the documents, viz Exhibit Aw/1 to Aw/7 marked on behalf of the applicant bank, clinches the claim of the applicant bank against the Defendants. Hence, I hold that the Defendants are jointly & severally liable to pay to the applicant bank the claim made in O.A. with future interest and costs.

¶44

16.In the result, this O.A. No. 572 of 2025 is allowed declaring that:-

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OA No. 572 of 2025

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a) The Defendants are jointly & severally liable to pay to the applicant bank a sum of Rs. 28,02,757.73/(Rupees Twenty Eight Lac Two Thousand Seven Hundred Fifty Seven and Seventy Three only ) with pendente lite and future interest @ 10% (simple) from 04.09.2024 till the date of realization.

¶48

b) The applicant bank is entitled to recover the above amount from the sale of hypothecated assets and charged properties –

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1. Agriculture land situated at Khata No. 61, Khasra No. 573 at Village Kalmiya, Tehsil Naniwa, Bundi, Rajasthan in the name of defendant no. 2.

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1. Agriculture land situated at Khata No. 60, Khasra No. 566/668, 572 & 575 at Village Kalmiya, Tehsil Naniwa, Bundi, Rajasthan in the name of defendant no. 2.

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as well as from the personal movable and immovable properties/assets of Defendants. The applicant bank is entitled to proceed against the same towards recovery of its debt. The Legal Representatives of the Defendant No. 2 are only liable to the extent of assets inherited by them.

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c) The applicant bank is entitled to the costs of the O.A.

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17.The recovery certificate be issued forthwith and be sent to the Recovery Officer, DRT, Jaipur.

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OA No. 572 of 2025

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18.Parties are directed to appear before the Recovery Officer, DRT, Jaipur on 02.02.2026 .

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19.Prepare Recovery Certificate accordingly.

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20.A copy of the Judgment and Recovery Certificate be given or sent by registered post to each of the parties free. A copy of the Recovery Certificate be sent to the Recovery Officer of this Tribunal for necessary action as per the law.

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(Vimal Gupta) Presiding Officer, Debts Recovery Tribunal, Jaipur

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Order pronounced in the open court today i.e. 19.12.2025 .

¶61

(Vimal Gupta) Presiding Officer, Debts Recovery Tribunal, Jaipur

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OA No. 572 of 2025

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BEFORE THE DEBTS RECOVERY TRIBUNAL, JAIPUR

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PRESENT- SHRI VIMAL GUPTA

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PRESIDING OFFICER

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O.A. NO. 572 OF 2025

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DATE OF DELIVERY OF ORDER 19.12.2025

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RECOVERY CERTIFICATE

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(UNDER SUB Section 22 of the Recovery of Debts due to Banks and Financial Institutions Act, 1993 (Act 51 of 1993)

…..Applicant Bank…..

VERSUS

1. Sh. Padam Kumar Nagar S/o Sh. Prabhu Lal Kharsolia R/o 240, Holi Ki Khunt, Village Karavar, Tehsil Nainwa, Bundi323616, Rajasthan.

¶75

2. Late Sh. Prabhu Lal Kharsoliya (deceased) through its legal representatives:

¶76

2.1 Sh. Padam Kumar Nagar S/o Sh. Prabhu Lal Kharsolia R/o 240, Holi Ki Khunt, Village Karavar, Tehsil Nainwa, Bundi- 323616, Rajasthan.

¶77

2.2 Kailash Bai D/o Late Mr. Prabhu Lal, R/o 240, Hoki Ki Khunt, Village Karavar, Tehsil Nainwa, Bundi- 323616, Rajasthan.

¶78

3. Smt. Sanju Devi W/o Sh. Padam Kumar Nagar R/o 240, Holi Ki Khunt, Village Karavar, Tehsil Nainwa, Bundi323616, Rajasthan.

……Defendants…..

OA No. 572 of 2025

Recovery Certificate for Rs. 28,02,757.73/-

¶83

In terms of final order dated 19.12.2025 passed by this Tribunal in the above mentioned case, it is ordered that the-

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a) The Defendants are jointly & severally liable to pay to the applicant bank a sum of Rs. 28,02,757.73/(Rupees Twenty Eight Lac Two Thousand Seven Hundred Fifty Seven and Seventy Three only ) with pendente lite and future interest @ 10% (simple) from 04.09.2024 till the date of realization.

¶85

b) The applicant bank is entitled to recover the above amount from the sale of hypothecated assets and charged properties –

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1. Agriculture land situated at Khata No. 61, Khasra No. 573 at Village Kalmiya, Tehsil Naniwa, Bundi, Rajasthan in the name of defendant no. 2.

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1. Agriculture land situated at Khata No. 60, Khasra No. 566/668, 572 & 575 at Village Kalmiya, Tehsil Naniwa, Bundi, Rajasthan in the name of defendant no. 2.

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c) The applicant bank is entitled to the costs of the O.A.

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OA No. 572 of 2025

¶92

Parties are directed to appear before the Recovery Officer, DRT, Jaipur on 02.02.2026 .

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The Recovery Officer shall realize the amount as per this Certificate in the manner and mode prescribed under Section 25 and 28 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (as amended from time to time) from the above named Certificate Debtor.

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This Certificate has been issued under my signatures and seal of the Tribunal on this 19.12.2025 .

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(Vimal Gupta) Presiding Officer, Debts Recovery Tribunal, Jaipur

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OA No. 572 of 2025

¶98

BEFORE THE DEBTS RECOVERY TRIBUNAL, JAIPUR

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PRESENT- SHRI VIMAL GUPTA

¶100

PRESIDING OFFICER

¶101

O.A. NO. 572 OF 2025

¶102

DATE OF DELIVERY OF ORDER 19.12.2025

¶103

SCHEDULE TO RECOVERY CERTIFICATE

MEMO OF COST

…..Applicant Bank…..

VERSUS

1. Sh. Padam Kumar Nagar S/o Sh. Prabhu Lal Kharsolia R/o 240, Holi Ki Khunt, Village Karavar, Tehsil Nainwa, Bundi323616, Rajasthan.

¶109

2. Late Sh. Prabhu Lal Kharsoliya (deceased) through its legal representatives:

¶110

2.1 Sh. Padam Kumar Nagar S/o Sh. Prabhu Lal Kharsolia R/o 240, Holi Ki Khunt, Village Karavar, Tehsil Nainwa, Bundi- 323616, Rajasthan.

¶111

2.2 Kailash Bai D/o Late Mr. Prabhu Lal, R/o 240, Hoki Ki Khunt, Village Karavar, Tehsil Nainwa, Bundi- 323616, Rajasthan.

¶112

3. Smt. Sanju Devi W/o Sh. Padam Kumar Nagar R/o 240, Holi Ki Khunt, Village Karavar, Tehsil Nainwa, Bundi323616, Rajasthan.

……Defendants…..

OA No. 572 of 2025

S.No.	Item of Costs	Amount (Rs.)
1	Fee on the Application	31,005.00
2	Process Fee (Inc. Publication)	90.00
3	Advocate Fee	1,250.00
4	Court Commissioner’s Fees	NIL
5	Commission/Receiver/Valuation	NIL
6	Miscellaneous Charges	NIL
	Total	32,345.00

¶117

(Vimal Gupta) Presiding Officer, Debts Recovery Tribunal, Jaipur

OA No. 572 of 2025

19.12.2025

Counsel:

Sh. Vineet Sharma, Counsel for Applicant Bank None for the Defendants

¶123

Judgment dictated separately and pronounced in the open court. As per order the O.A. is allowed. Recovery Certificate be prepared accordingly and the Registry is directed to verify the Recovery Certificate as per Regulation 24(1) and (2) of Debts Recovery Tribunal Jaipur Regulation 2015 and after verification place the same before the Tribunal.

¶124

(Vimal Gupta) Presiding Officer, Debts Recovery Tribunal, Jaipur

OA No. 572 of 2025

19.12.2025

Counsel:

Sh. Vineet Sharma, Counsel for Applicant Bank None for the Defendants

¶130

The Tribunal vide order dated 19.12.2025 , directed the Registrar to verify the Recovery Certificate as per Regulation 24(1) and (2) of Debts Recovery Tribunal Jaipur Regulation 2015.

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The Registrar vide order dated 19.12.2025 verified the Recovery Certificate as per Regulation 24(1) and (2) of Debts Recovery Tribunal Jaipur Regulation 2015. Recovery Certificate be prepared accordingly. Copy of the Judgment and Recovery Certificate be given free to the concerned parties as well as be sent to the Recovery Officer for further proceedings. File be put up before the Registrar for compliance. After compliance file be consigned to record.

¶132

(Vimal Gupta) Presiding Officer, Debts Recovery Tribunal, Jaipur

Icici Bank Limited v. Padam Kumar

Case brief

What is this about?

What did the court decide?

Icici Bank Limited v. Padam Kumar

Case brief

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