Allowed

Icici Bank Limited v. Tudum Bharatha

DRT25 Jun 2025OA/71/2025

Case brief

AI extract

What is this about?

In an original application for debt recovery filed by ICICI Bank Limited against two defendants who remained ex-parte, the tribunal found the claim clinched by evidence affidavits and marked documents. The application was allowed, rendering defendants jointly and severally liable for the debt, future interest, and costs, with the vehicle hypothecation securing the claim.

What did the court decide?

Defendants held jointly and severally liable to pay Rs.36,29,544.02 plus future interest and costs; OA secured by hypothecated vehicle; Recovery Certificate issued.

Icici Bank Limited versus Tudum Bharatha — Contract and Commercial Disputes | DRT (2025)

¶1

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. RAMESHWAR KOTHE, B.Com., L,LB. (HonS.), M.A.

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PRESIDING OFFICER

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ORIGINAL APPLICATION No: 71 OF 2025

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ICICI Bank Limited., Gachibowli, ICICI Towers, Serilinga mpa lly Mandal, Ranga Reddy District. Rep. by its Authorized Signatory.

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.....Applicant.

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Versus

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1, Tudum Bharatha, D/o. Rajalingu, Age 43 Years, Occ: Business, H.No.2-30, Kawal, Jannaram Ma ndal, Adilabad - 504205, TS.

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Tudum Rajalinq u, S/o. Nanaiah, Age 49 Years, Occ: Business, H.No.2-30, Kawal, lannaram Ma ndal, Adilabad - 504205, TS.

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... Defendants

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Counsel for the Applicant : M/s.G.Adrian Kiran Raj

Defendants

: Ex-parte

:: ORDER ::

The Applicant Bank filed the present OA for the recovery a total sum of Rs.36,29,544.02os as on 25.10.2024 from the defendants^jointly and severally with future interest @24olo^p.a. with monthly rests from 25.10.2024 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 ,Muog (:/

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oA.NO.71l2025

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The Applicant Bank examined Kalva Rajayaswanth, Area Relationship Manager, as AW-1 and marked 08 documents through him as Ex. A.1 to Ex. A.08.

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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.08 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.

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In the result, the present Oriqinal Application No.71l2025 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.36,29,544.02ps as on 25.10.2024 wtth future interest @9.010/o 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 dq<cribed in the CWo'*

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oA.NO.7 7/2025

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schedule annexed to the OA and the applicant bank is entifled to proceed against the same to realise its debU

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iii) the applicant bank is also entifled to proceed against the person and properties of defendants for realization of its dues;

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iv) the applicant bank is entiued for the costs.

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The Applicant Bank is directed to file Cost Memo within 2 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, sjgned and pronounced by me in the open court on this the 25th Day oftune, 2025).

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.)/ r,\ ..liL6 'rG^{,</sup> (RAMESHWAR KOTHE) PRESIDING OFFICER}

Icici Bank Limited v. Tudum Bharatha

Case brief

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Icici Bank Limited v. Tudum Bharatha

Case brief

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