Allowed

Icici Bank Limited v. Netha Pavithra

DRT17 Jun 2025OA/597/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the Applicant Bank's Original Application for recovery of Rs.39.91 Lacs from jointly and severally liable defendants. The court confirmed liability based on the bank's evidence, upheld the hypothecated vehicle as security, and issued a Recovery Certificate.

What did the court decide?

Defendants jointly and severally liable to pay Rs.39.91 Lacs with interest; Bank entitled to sell hypothecated vehicle and proceed against other properties.

Icici Bank Limited versus Netha Pavithra — Contract and Commercial Disputes | DRT (2025)

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]N THE DEBTS RECOVERY TRIBUNAL.II AT HYDERABAD

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DATED THIS THE 17TH DAY OF JUNE, 2025

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PRESENT: SH. RAMESHWAR KOTHE, B,COM., L.LB. (HONS.), 14.A.

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PRESIDING OFFICER

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ORIGINAL APPLICATION No: 597 OF 2024

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ICICI Ba nk Limited., Gachibowli, lCICI Towers, Serilingampally Mandal, Ranga Reddy District. Rep. by its Authorized Signatory.

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.....Applicant.

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Versus

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Netha Pavithra, D/o. Shyam Kumar Netha, Age 38 Years, Occ: Business, H. No.7-43, Indra Nagar, SC Colony, Kha na pur, Ad ila bad - 504203, TS.

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Netha Narsu, S/o.Narsaiah Netha, Age 64 Years, Occ: Business, H. No.7-43, Indra Naga r, SC Colony, Khanapu r, Adilabad - 504203, TS,

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Netha Shyam Kumar, S/o. Narsaiah Netha, Age 45 Years, Occ: Business, H.No.7-43, Indra Nagar, SC Colony, Kha napu r, Adilabad - 504203, TS.

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Are Ramulu, S/o.Pedda Rajam Are, Age 47 Years, Occ: Business, H. No.5-85, Raghavapet lvlanda l, Near Bus Stop, Karimnagar-505331, TS.

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... Defendants

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Counsel for the Applicant : M/s.G.Adrian Kiran Raj Defenda nts : Ex-parte fu.of

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oA.NO.s97l2024

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:: ORDER^::

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The Applicant^{Bankfiled the present OA for the recovery a total} sum of^{Rs.39,9 1,567.g4ps as on 25'10'2024 fromthe} defendants^{jointlyand severally with future interest @24olop a'} with monthly^{restsfrom 25.70.2O?4till the date of realization} along with^{costs and in default for sale of hypothecated vehicle'}

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Summons served^{on D1 to 4They were set ex-parte on} 18.02.2025^{as called absentand no representation'}

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The APplicant Bank examined^{K.Rajayaswanth, Legal Manager,} as AW-1 and marked 14^{documents through 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 material placed 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^{madein the OA against} the Defendants^{and OA hYpothecated} vehicle?

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As stated^{supra, the Defendants remained ex-parte'The} Evidence Affidavit^{coupledwith the recitalsin the documents} viz., Exs. A.1 to A.14^{markedon behalf of the Applicant Bank} clinches the claim^{of the Applicant Bank against the Defendants} Hence, I hold that^{the Defendants are jointly and severallyliable} to oav the OA claim^{tolhe Applicant Bank with future interest} //l\w'\ -' ' 's

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and costs. (!/'-6.OV'

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oA.NO.s9712024

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In the result, the present Original Application No.597/2024 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.39,91,567.94ps as on 25.10.2024 with future interest @12.50% 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 vehicle 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^properties of 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 Memo^{within2 weeks} from the date of receipt of this Order.

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Issue Recovery Certificate accordingly.

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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 17th Day of June, 2025).

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,*ffieliB/ PRESIDING OFFICER

Icici Bank Limited v. Netha Pavithra

Case brief

What is this about?

What did the court decide?

Icici Bank Limited v. Netha Pavithra

Case brief

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What did the court decide?

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