Allowed

Icici Bank Limited v. S R Mote Fuel Station

DRT13 Aug 2025OA/613/2024

Case brief

AI extract

What is this about?

In this original application, the Debts Recovery Tribunal allowed the bank's suit for recovery of Rs. 50 lakhs plus interest. Proceeding ex-parte as the defendant did not appear, the Tribunal concluded the unrebutted evidence was sufficient and granted the claim with a modified interest rate.

What did the court decide?

Order allowed; Respondents directed to pay Rs. 50,27,054.26 with future interest @11% p.a. simple from filing date; Recovery Certificate issued.

Icici Bank Limited versus S R Mote Fuel Station — Contract and Commercial Disputes | DRT (2025)

¶1

Presented on: 01.06.2024 Registered on: 13.08.2024 Decided on: 13.08.2025 Duration: Y M D 01 02 12

¶2

INTHEDEBTSRECOVERY TRIBUNAL AT AURANGABAD (Before Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 613/2024

¶3

TOTAL CLAIM AMOUNT – Rs. 50,27,054.26 Ps.

¶4

ICICI Bank Ltd,

¶5

A Registered Company, Having its Registered Office at ICICI Bank Tower, Near Chakli Circle, Old Padra Road, Vadodara, Gujarat – 390007 And having one of its Branch Office at ICICI Bank Ltd., MIDC, Ahmednagar. Through: it’s Power of Attorney Holder Shantanu S/o. Shailesh Naik, Age 29 years, Occupation: Service, R/o. C/o. ICICI Bank Ltd., Cherikar Prestine, Plot No. 4, Opp. LIC Office, Bhagya

¶6

Nagar, Adalat Road, Aurangabad – 431001.

… Applicant

(OA No.613/2024)

Page 1 of 7

[AMBADAS]

Versus

S R Mote Fuel Station, Through its Proprietor, Sunayana Rajendra Mote, Age: Major, Occupation: Business, 58/6, Kharwandi Newasa, Nagar Aurangabad Road, Tq. Newasa, Dist. Ahmednagar – 414602.

¶13

AND

¶14

Wadula Bahiroba, Vadalamission, Tq. Newasa, Dist. Ahmednagar-414602.

¶15

AND

¶16

Near Panyachi Vihir Wadula Bahiroba Vadala Mission, Ahmednagar Maharashtra 414602

¶17

AND

¶18

R H No. 05 Parijat Row House, Kamatwade. Nasik-422008, Maharashtra- 422008.

¶19

…Defendants

¶20

APPEARANCES For the Applicant For Defendants

¶21

Mr. Atul A. Mishra -Advocate Ex-parte

¶22

JUDGMENT Delivered on 13.08.2025

¶23

The Applicant Bank has filed the present application for the

¶24

recovery of a sum of Rs. 50,27,054.26 Ps. (Rupees Fifty Lacs

(OA No.613/2024)

Page 2 of 7

[AMBADAS]

Twenty Seven Thousand fifty four and twenty six paisa only), along with further interest from the date of filing of the Original Application, i.e., 01.06.2024, until the date of realization of the entire outstanding dues from the Defendant.

¶29

Brief facts of the application are as under:

¶30

The applicant bank states that Defendant approached the applicant bank seeking financial assistance in the form of Over Draft Facility as and by way of working capital . Upon scrutiny of the submitted documents, the applicant bank sanctioned a Over Draft (OD) Facility in the form of Cash Credit of Rs. 1,00,00,000/vide sanction letter dated 16.03.2023. The agreed rate of interest was @08.50% p.a. with monthly rests. The defendant also agreed to pay an additional interest by way of liquidated damages in case of default in repayment.

¶31

In order to secure the aforesaid loan facilities, the Defendant executed various loan documents in favour of the Applicant Bank. These included sanction letter, Credit Arrangement letter,

(OA No.613/2024)

Page 3 of 7

[AMBADAS]

memorandum letter for overdraft account etc in favour of the Applicant Bank.

¶36

The Applicant Bank further contends that, in order to secure the OD facility sanctioned to her, the Defendant executed annexure I

¶37

dated 16.03.2023 in favour of the applicant bank.

¶38

The applicant bank contended that the defendant has failed to keep her promise and commitments agreed by her with regard to due repayment of the loan amount. The defendant failed to operate the loan account properly and failed to pay the agreed rate of interest as per terms and conditions of the sanction letter. Thereafter, the applicant bank repeatedly made demand of loan amount and called upon the defendant to pay with the agreed rate of interest thereon, but the defendant failed and neglected to pay the same. The loan account of the defendant became irregular and classified as NPA on 18.11.2023. The applicant bank issued legal notice dated 18-10-2023 to the defendant through their advocate. Despite service of Notices, the defendant failed and neglected to repay the outstanding dues of the

(OA No.613/2024)

Page 4 of 7

[AMBADAS]

applicant Bank. Hence, this application is filed.

¶43

The defendant failed to appear in matter despite service of summons. Hence, the defendant was proceeded ex-parte as per Order dated 28.04.2025.

¶44

The applicant Bank has filed Claim Affidavit of evidence at Exhibit-4 of Shantanu S/o. Shailesh Naik, Power of Attorney Holder of the applicant Bank, and has produced on record the original loan transaction documents as Exh. AW-1/1 to AW-1/9 along with list of documents Exh.5 which corroborates the case of the applicant Bank.

¶45

I have heard arguments of the learned Advocate for the applicant Bank.

¶46

Since the defendant failed to appear and contest the application, I find no reason to disbelieve the unrebutted evidence of the applicant Bank. Therefore, the applicant Bank is entitled for the reliefs as claimed.

¶47

The applicant Bank has claimed future interest @11.50% p.a. on

(OA No.613/2024)

Page 5 of 7

[AMBADAS]

the Over Draft Facility from the date of filing i.e. 01.06.2024 of this application till realization of the claim amount. However, considering the facts of the case, I am of the opinion that if future interest is granted @11 % per annum (simple), it would be just and reasonable rate of interest.

¶52

ORDER

¶53

(A) Original Application No. 613/2024 is allowed with costs.

¶54

(B) The defendant shall pay to the applicant Bank a sum of Rs. 50,27,054.26 Ps. (Rupees Fifty Lacs Twenty Seven Thousand fifty four and twenty six paisa only), along with future interest @11 % per annum (simple) from the date of filing of the Original Application i.e. 01.06.2024 till full payment/realization of the amount mentioned in this operative order.

¶55

(C) The aforesaid adjudicated amount is secured vide documents Exh. AW-1/5, Exh. AW-1/6 and Exh. AW1/7 in the list of documents.

(OA No.613/2024)

Page 6 of 7

[AMBADAS]

(D) The applicant Bank is entitled to receive its dues as per terms and conditions of the Loan, and documents executed by the defendant in favor of the applicant bank.

¶60

(E) Issue Recovery Certificate accordingly.

¶61

(F) The Registrar is directed to send the copy of the Judgment and Recovery Certificate to the applicant and defendant.

¶62

(G) File be consigned to the record room.

¶63

Sd/Pronounced in open court. (Dr. J. R. Chauhan) Place: Aurangabad Presiding Officer Date:.13.08.2025 Debts Recovery Tribunal, Aurangabad

¶64

(OA No.613/2024)

¶65

Page 7 of 7

¶66

[AMBADAS]

Icici Bank Limited v. S R Mote Fuel Station

Case brief

What is this about?

What did the court decide?

Icici Bank Limited v. S R Mote Fuel Station

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

Bank of Maharashtra versus M/s Adarsh Dairy Products Pvt. Limited

Bank of Baroda versus M/s. Hake Medical and General Stores

Saleha Begum Sher Khan Pathan versus Lokvikas Nagari Co-Operative Bank Ltd.

Bank of Maharashtra versus Somnath Raoba Gite

Idbi Bank versus Rupali W/o Nitin Agrawal

State Bank of India versus Santosh Haribhau Kate