Allowed

Icici Bank Limited v. Muniswamy Kumar

DRT19 Sept 2025OA/779/2024

Case brief

AI extract

What is this about?

The DRT allowed an original application for a recovery certificate against a credit card debtor who failed to appear. The tribunal reduced the agreed interest rate to 9% simple interest and ordered recovery of the principal amount plus interest.

What did the court decide?

Recovery Certificate issued for Rs. 28,80,154.34 with interest at 9.00% p.a. (simple) from the date of filing till realization, recoverable from the defendant personally and his assets.

Icici Bank Limited versus Muniswamy Kumar — Contract and Commercial Disputes | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL II, KARNATAKA AT BENGALURU

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Dated this 19^th Day of September, 2025

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Present: Sri. T. RAJESH Presiding Officer

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OA.No.779/2024

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BETWEEN:

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ICICI Bank Limited, 4/10, Mythree Tower, Bommanahalli, Hosur Main Road, Bengaluru-68, Represented through its Constituted Attorney, Sri. Pramodh.G, Son of B Gurumallappa.

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…APPLICANT

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AND:

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Mr. Muniswamy Kumar, S/o Ramaswamy Muniswamy, Aged about 55 years, R/at #27, 2^nd Cross, Kalappa Block, Near Saibaba Kalyana Mantapa, Bangalore- 560021

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...DEFENDANT

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Counsel on record/appeared for:

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Applicant : M/s. Vidhii Partners Defendant : Exparte

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FINAL ORDER

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The present Original Application in short (OA) has been filed under section 19 of Recovery of Debts and Bankruptcy Act 1993 seeking issuance of Recovery Certificate against the defendant for Rs. 28,80,154.34 (Rupees Twenty Eight Lakh Eighty Thousand One Hundred Fifty Four and Paise Thirty Four Only) with further interest thereon from the date of filing

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OA 779/2024

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the Application till realization.

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It is the case of the applicant that, the defendant availed a credit card with a limit of Rs. 20,00,000/- (Rupees Twenty Lakh Only) from the applicant bank which he made various purchases on credit. The defendant failed to pay the minimum payment resulting in levy of late payments and other charges, despite several reminders failed to regularize the credit card, resulting in default in repayment and consequentially turning the loan accounts as NPA.

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In the above circumstances, the applicant approached this Tribunal by filing this OA seeking issuance of Recovery Certificate for the amount due in the credit card(account).

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Despite, service of summons on the defendant, he failed to appear, resulting the defendant being set exparte on 15.09.2025.

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The applicant had let in evidence through AW-1, who filed Proof Affidavit reiterating the contentions taken in the OA and also produced Exhibits A-1 to A-5 and got the same marked in evidence.

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Heard the Ld. Counsel for the Applicant and considered the contentions as taken in the OA in the light of documentary evidence and proof affidavit.

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The following issues arise for consideration in this matter:

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i) Whether the applicant had succeeded in proving the OA claim

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OA 779/2024

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as against the defendant?

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ii) What order are to be passed?

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Both these issues are gone into and decided together.

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The case put forth by the applicant in the Application remains unrebutted as defendant remained exparte. The evidence tendered by the applicant remains uncontroverted and undisputed. The evidences put forth by the applicant were found admissible and are sufficient to prove availment of credit card as stated in the OA, and the defaults committed in the repayment of credit card dues. The liability of the defendant and the claim of the amount due are also proved by the above documents. The claim of the applicant is well within the limitation.

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Hence in view of the findings arrived herein above, the Tribunal

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find both these issues in favour of applicant and hence, this Tribunal is of the view that OA is to be allowed.

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Taking into consideration the facts that the credit facilities are

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availed for personal purpose and also that the OA claim is arrived at by calculating interest at the agreed rate, which is on higher side this Tribunal in view of the OA can be allowed with a reduced interest of 9.00%

(simple).

OA 779/2024

In the result, OA.No.779/2024, stands allowed,

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i) The applicant is allowed to recovery an aggregate sum of Rs. 28,80,154.34 (Rupees Twenty Eight Lakh Eighty Thousand One Hundred Fifty Four and Paise Thirty Four Only) with further interest @9.00% p.a.(simple) from the date of filing OA till the realization, from the defendant personally, after giving credit to all the amount recovered and received during the pendency of the OA and allowed the same to be recovered by proceeding against the defendant personally and his assets.

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ii) The applicant bank is allowed cost of the proceedings which

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applicant to file cost memo within 7 days from the date of receipt of the order.

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iii) The Recovery Certificate to be drawn in terms of this order and

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transferred to Recovery for execution.

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iv) Interim application pending, if any, stands disposed of in terms

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of this final order.

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Communicate a copy of the order to the parties concerned in terms

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of Section 19(21)(i) of the RDB Act, read with Rule 16 of DRT (Procedure) Rules, 1993.

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[Dictated to the Stenographer (AJ), transcribed by her, corrected and signed and pronounced by me in the Open Court, this the 19^th Day of September, 2025].

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Sd/- (T. RAJESH) PRESIDING OFFICER

OA 779/2024

ANNEXURES

WITNESSES EXAMINED FOR THE APPLICANT BANK:

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AW-1: Pramodh G S/o B Gurumallappa, Collection Manager, of Applicant Bank.

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Exhibits on the part of the Applicant:

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Exhibit Nos.	Particulars of Documents
A1	Credit card application form dated Nil
A2	Application credit evaluation sheet dated 24.08.2013
A3	Demand legal notice dated 29.12.2023
A4	Ledger account bearing No. 4375511649108003 dated 04.02.2024
A5	Certificate under section 2-A of the Banker’s books evidence Act, 1891

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Witness Examined for the Defendant: List of Documents Exhibited for the Defendant:

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-Nil -

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-Nil -

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Sd/- (T. RAJESH) PRESIDING OFFICER

Icici Bank Limited v. Muniswamy Kumar

Case brief

What is this about?

What did the court decide?

Icici Bank Limited v. Muniswamy Kumar

Case brief

What is this about?

What did the court decide?

What the court decided

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Case details

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