The Debts Recovery Tribunal allowed the applicant bank's application for recovery of dues against the defaulting borrower. The court modified the claimed interest rate to 13% per annum simple interest from the date of filing.
Recovery of sum of Rs. 36,44,889/-. Future interest at 13% p.a. (simple) from 08.08.2023. Issuance of Recovery Certificate.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
Presented on: 08.08.2023 Registered on: 14.02.2024 Decided on: 15.10.2025 Duration: Y M D 01 08 01
IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD
(Before Shri Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No.71/2024
TOTAL CLAIM AMOUNT – Rs. 36,44,889/-
ICICI Bank Ltd.
A Registered Company, Having its Registered
Office at ICICI Bank Tower, Near Chakli Circle, Old Padra Road, Vadodara, Gujarat-390007. And having its Branch office at ICICI Bank Ltd., Ground Floor, Hotel Vyankatesha, Ausa Road, Latur-413512. Through its Power of Attorney Holder Shri. Shantanu S/o. Shailesh
… Applicant
Naik, Age: 28 Years, Occ.: Service, R/o. C/o.
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[Ambadas]
ICICI Bank Ltd., Cherikar Prestine, Plot No.4, Opp. LIC Office, Bhagya Nagar, Adalat Road, Aurangabad-431001.
E-mail:[email protected]
Mobile:-9096901284.
Versus
… Defendant's
Prop. Siya Trading Company,
Age: 35 Years, Occ. : Business,
R/o. Madhav Nagar, Near Kabrastan, New Kazi Mohalla, Latur-413512.
Mobile No. 9552000964. E-mail:[email protected]
PAN:-FMNPS4195E
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[Ambadas]
Also
R/o. Siya Trading Company,
Ganj Golai, Latur-413512.
also
R/o. Narake DTC Ganj Golai, Latur MCL,
Latur-413512.
APPEARANCES For the Applicant Mr. Umesh N. Shete - Advocate For Defendant Ex-parte
J U D G M E N T
Delivered on (15.10.2025)
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[Ambadas]
from the Defendant.
Brief facts of the application are as under:
The agreed rate of interest for the Credit loan facility was Fixed rate @16.75% , p.a. with monthly rests.
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[Ambadas]
Condition for facilities for Purchase of/ against Products dated 19.10.2010 in favour of the applicant bank.
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he was proceeded ex-parte vide Order dated 16.04.2024.
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(simple) on outstanding amount, it would be just and reasonable.
Hence, I pass the following order.
ORDER
(B) The Defendant shall pay to the Applicant Bank a sum of Rs. 36,44,889/- (Rs. Thirty Six Lakhs, Forty Four Thousand, Eight Hundred, Eighty Nine Only) alongwith future interest at @13% per annum (simple) from the date of filing of the Original Application, i.e., 08.08.2023, till full payment/ realization of the said amount.
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[Ambadas]
Sd/-
(Dr. J. R. Chauhan) Presiding Officer Debts Recovery Tribunal, Aurangabad
Place : Aurangabad Date : 15.10.2025
(OA No.71-2024)
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[Ambadas]
1 issue framed by the court
Whether the applicant bank is entitled to recover the outstanding loan amount along with future interest.
ICICI Bank Ltd.
Shiraj Ibrahim Shaikh
Dr. J. R. Chauhan
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
