Allowed

Icici Bank Limited v. Patla Keerthi

DRT25 Jun 2025OA/69/2025

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an Original Application filed by ICICI Bank Limited for recovery of a principal sum of Rs. 24,81,165.28 along with interest and costs against two defendants, holding them jointly and severally liable and permitting the bank to proceed against hypothecated vehicles to realize dues.

What did the court decide?

Defendants directed to pay Rs. 24,81,165.28 with future interest; bank directed to proceed against hypothecated vehicle; recovery certificate issued.

Icici Bank Limited versus Patla Keerthi — Specific Performance | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-II^{AT HYDERABAD}

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DATED THIS THE 25TH DAY OF^{JUNE, 2025}

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PRESENT: SH. RAIVIESHWAR^{KOTHE,B.COM.,L.LB. (HONS.), M.A.}

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PRESIDING OFFICER

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ORIGINAL APPLICATION No: 69^{OF 2025}

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ICICI Bank Limited., Gachibowli, ICiCI Towers, Serilinga m^pa lly lYandal, Ranga Reddy District. Rep. by its Authorized Signatory.

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.....Applica nt.

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Versus

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Patla Keerthi, D/o.Patla Pandu Goud, Age 28 Years, Occ: Self Employed, H.No.1 - 55, Anand Nagar Colony, Water Tank, RBM Hospital, Bodu ppal - 500092, T.S.

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Also at:-

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Patla Keerthi, D/o.Patla Pandu Goud, Age 28 Years, occ: Self Employed, H.No.6-60/8, Thimmaiguda, Quth^{bu la pur, RRDistrict- 501505,TS.}

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2, Patla Pandu Goud, D/o.Patla Chandraiah, Age 56 Years, Occ: Self Employed, H.No.1 - 55, Anand Nagar Colony, Water Tank, RBM Hospital, Bod uppa I - 500092, T.S.

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Also at:-

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Patla Pandu Goud, D/o.Patla Chandraiah, Age 56 Years, Occ: Self Employed, H. No.6-60/B, Thimmaiguda, Quthbulapur,^{RR District-501505,TS.}

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... Defendants

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Counsel for the Applicant : M/s.G.Adrian Kiran Raj Defenda nts : Ex-parrc (M:F\9

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oA.NO.59/2025

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:: ORDER ::

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The Applicant Bank filed the present OA for the recovery a total sum of Rs.24,81,165.28ps as on 17.12.2024 from the defendants jointly and severally with future interest @24olo p.a. with monthly rests from 77.12.2024 till the date of realization along with costs and in default for sale of hypothecated vehicle.

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Summons served on D1 and 2. They were set ex-parte on 28.03.2025 as called absent and no representation.

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The Applicant Bank examined Kalva Rajayaswanth, Area Relationship Manager, as AW-1 and marked 10 documents through him as Ex. A.1 to Ex. A.10.

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Ld. Counsel for the Applicant Bank 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 made in the OA against the Defendants and OA hypothecated vehicle?

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As stated supra, the Defendants remained ex-parte. The Evidence Affidavit coupled with the recitals in the documents viz., Exs. A.1 to A.10 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 and severally liable to pay the OA claim to the Applicant Bank with future interest and costs. //)'" --^-r{t'"

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oA.NO.59/2025

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In the result, the^present Original^{ApplicationNo'69/2025is} 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.24,81,165.28ps as on L7.12.2024^with future interest @9,35olo^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^propertiesof 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 pronouncedbymein the open court on} this the 25th Day ofJune,^2025).

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/fl$"o*

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(M{ESHWAR KOTHE) PRESIDING OFFICER

Icici Bank Limited v. Patla Keerthi

Case brief

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Icici Bank Limited v. Patla Keerthi

Case brief

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