Allowed

Icici Bank Limited v. Smt. Deepa

DRT17 Apr 2025OA/624/2024

Case brief

AI extract

What is this about?

DRT-2, Chandigarh allowed an OA filed by ICICI Bank Limited for recovery of INR 24.85 lakhs with interest against two defendants. The Presiding Officer found the bank proved its case of loan advance and non-repayment, despite defendants' ex parte default, ordering sale of assets for recovery.

What did the court decide?

Recovery of Rs.24,85,076/- with interest @11.49% p.a.; Recovery Certificate to be issued; Possession of respondents' assets to be taken for sale.

Icici Bank Limited versus Smt. Deepa — Contract and Commercial Disputes | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-II, CHANDIGARH

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BEFORE: A S NARANG, PRESIDING OFFICER

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OA No: 624/2024 Date of Institution: 03.04.2024 Date of Decision: 17.04.2025

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ICICI Bank Limited at SCO Nos.237-238, Sector-20, Panchkula, Haryana

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……..Applicant

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Vs.

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Smt. Deepa D/o Sh. Raj Kumar W/o Sh. Om Dutt, 167, Ward No.34, Janta Colony, Rohtak, Haryana-124001

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Sh. Ashutosh S/o Sh. Om Dutt, 167, Ward No.34, Janta Colony, Rohtak, Haryana-124001

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……….Defendants

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Advocates

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Ms Dipti Toni proxy counsel for Sh. Gagandeep Toni, Counsel for the applicant bank. Defendants- ex parte .

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OA for the Recovery of Rs.24,85,076/- with interest @11.49% per annum with monthly rests from 03.04.2024.

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ORDER

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ICICI Bank Limited (Applicant Bank) has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of Rs.24,85,076/- with interest against Smt. Deepa and another (defendants).

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Bank’s case is that on 20.07.2020, it had granted a loan of Rs.19.00 Lakh to the defendants in the shape of personal loan. The loan was chargeable to interest @11.49% per annum. On 17.02.2024, a sum of Rs.24,85,076/- was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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3. On 03.05.2024, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 19.11.2024, they were proceeded_ex_ parte.
4. In order to prove its case, the Bank has placed on record the affidavit of Mr. Mohammad Vajid, Manager Legal along with the loan and security documents and marked them as Exhibit A-1 to A-6.
5. I have perused the evidence on the record. I am of the considered
view that the Bank has proved its case that it had advanced the loan of Rs.19.00 Lakh and on 17.02.2024, a sum of Rs.24,85,076/- was due.
6. Accordingly, the application of the bank for the recovery of
Rs.24,85,076/- (Rupees Twenty Four Lakh Eighty Five Thousand and
Seventy Six Only) with interest @11.49% per annum with monthly rests from 03.04.2024, till the date of payment is hereby allowed with costs.
The liability of all the defendants would be joint and several. Bank can recover its dues by the sale of the personal movable and immovable property(ies) of the defendants.
7. Pending IAs, if any, stand disposed of.
8. Recovery Certificate be issued accordingly.
9. Parties are directed to appear before Recovery Officer on
19.05.2025,who is directed to distribute the sale proceeds as per the
provisions of Section 19(20-AB) of the Act.
10. A Copy of this order along with Recovery Certificate be sent to
the Recovery Officer as well as the parties.
Pronounced in the open Court. (A S Narang) Dated: 17.04.2025 Presiding Officer DRT-2, Chandigarh (Additional charge)

Icici Bank Limited v. Smt. Deepa

Case brief

What is this about?

What did the court decide?

Icici Bank Limited v. Smt. Deepa

Case brief

What is this about?

What did the court decide?

What the court decided

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