Allowed

Icici Bank Limited v. Shaik Abdul Nabi, D/O Shaik Masthan Vali

DRT6 Aug 2025OA/74/2025

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the Original Application filed by ICICI Bank Limited against Shaik Abdul Nabi. The court held the defendant liable to pay the outstanding principal amount with future interest and costs, and authorized proceedings against hypothecated vehicles and the defendant's properties.

What did the court decide?

The respondent is directed to pay Rs. 36,63,354.82 with future interest and costs; the bank may proceed against hypothecated vehicles and respondent's properties. Recovery Certificate issued.

Icici Bank Limited versus Shaik Abdul Nabi, D/O… — Contract and Commercial Disputes | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD DATED THIS THE O6TH DAY OF AUGUST, 2025

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PRESENT: SH, RAIYESHWAR KoTHE, B.com., L,LB. (HonS.), Ivl.A. PRESIDING OFFICER

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ORIGINAL APPLICATION No:74 OF 2O2S

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ICICI Bank Lim ited., Gachibowli, ICICI Towers Serilingampally Mandal, Ranga Reddy District. Rep. by its Authorized Signatory.

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... ..Applicant.

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Versus

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Shaik Abdul Nabi, D/o.Shaik tvlasthan Vati Age 33 Years, Occ: Business H.No.76-2-7 42/ E/3, Ftat No.203 Venkatadri Nagar, Asman Gadh Malakpet Hyderabad - 500036, TS.

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Also at:-

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Shaik Abdul Nabi, D/o,Shaik tvlasthan Vati Age 33 Years, Occ: Business Shop No.2,3,4, Ground Floor Down Town [4all, Lakdikapool, Hyderabad - 500004.

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... Defenda nt

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Counsel for the Applicant : I\4/s.G.Adrian Kiran Raj Defendant : Ex-pa Ex-pa rte

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: Ex-pa Ex-pa rte

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:: ORDER ::

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The Applicant Bank filed the present OA for the recovery a total sum of Rs.36,63,354.82ps as on 24.72.2024 from the defendant with future interest @2490 p.a. with monthly rests frcm 24.12.2024 till the date of realization along with costs and in default for sale of hypolhecated vehicles, 't]' .. .

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oA.NO.741202S

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Summon served on^sole defendant through^{paperpublication} 11.06.2025 as called^{absent and no}

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and was set ex-parte^on representation.

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The Applicant Bank^{examined K'Rajayaswanth,Manager,} as to

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AW-1 and marked 13^{documents through him as ExA l} Ex.A. 13.

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Heard the Ld. Counsel^{for the Applicant Bank Perused the} material Placed on^recoTd.

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The^point that arises^{for considerationis:-}

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Whether the Applicant^{Bank is entitled} for the claim made in the^{OA against} the Defendant and oA^hY7othecated vehicles?

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As stated supra, the Defendant^{remainedex-parte. The} Evidence Affidavit coupled with^{the recitalsin the documents} viz., Exs.A.1 to A.13 marked on behalf of^{the ApplicantBank} clinches the claim of the Applicant^{Bank againstthe Defendant.} Hence, I hold that the Defendant^{ls liable} to^{pay the OA claimto} the Applicant Bank with future^{interestand costs.}

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In the result, the^present Original Application No.74l2025^is allowed as under:^-

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i) The Defendant is liable to^pay to the Applicant Bank a sum of Rs.36,63,354.82ps as on 24.L?.2024 with future^interest @9.15%^p.a. simple^{from the dateof} application till the date ot rcalizationi-/%J

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oA.NO.74l2o2s

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ii) the OA claim is secured by way of hypothecation of vehicles 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 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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B. 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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Communlcate a copy of this order to the parties concerned. (Dictated to the steno, corrected, signed and pronounced by me in the open court on this the 06th Day of August, 2025).

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kos"tu (RAMESHWAR KOTHE) PRESIDING OFFICER

Icici Bank Limited v. Shaik Abdul Nabi, D/O Shaik Masthan Vali

Case brief

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Icici Bank Limited v. Shaik Abdul Nabi, D/O Shaik Masthan Vali

Case brief

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What did the court decide?

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