Allowed

Icici Bank Limited v. as Pharma

DRT30 Apr 2025OA/836/2023

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed the Original Application filed by ICICI Bank Limited for recovery of a debt of approximately Rs.38.42 lakh from three defendants (AS Pharma and two individuals), finding them jointly and severally liable based on their ex-parte absence.

What did the court decide?

Defendants jointly and severally liable to pay Rs. 38,42,470.89 with 11% interest; Applicant Bank entitled to costs and to proceed against defendant properties.

Icici Bank Limited versus as Pharma — Execution and Attachment | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD DATED THIS THE 3OTH DAY OF APRIL, 2025

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PRESENT: SH. RAMESHWAR KOTHE, B,Com., L.LB, (HonS.), M.A. PRESIDING OFFICER

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Original Application No: 836 OF ZO23

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ICICI Bank Limited., 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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AS Pharma., Rep by its^partner Mohd Abdul Raheem, tI-2-22I 22I/t, 1st Floor, Near Government Hospltal, Nampally, Hyderabad, Telangana State - 500001.

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Mohd Abdul Hafeez,

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S/o.Mohd Abdul Aziz, Age Major, O_cc: Business, tL-2-22I 22L/1, 1tt Floor, Near Government Hospital, Nampally, Hyderabad, Telangana State - 500001.

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Mohd Abdul Salam, S/o.Mohd Abdul Aziz, Age Major, Occ: Business, LL-2-221 22I/L, 1't Floor, Near Government Hospital, Nampally, Hyderabad, Telangana State - 500001.

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...... Defendants

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Counsel for the Applicant : M/s.M.V.Kini
Defendants : Ex-parte S']" .1.'.,.i.J''

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OA.No.836/2023

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:: ORDER^::

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The Applicant^{Bankfiled the present OA for the recovery of a sum of} Rs.38,42,470.89ps^{as on 12'09'2023 from the defendantsjointlv} and severally^{withfuture interest @1250o/o p a with monthly rests} from 13.09.2023^{till the date of realisation alongwithcosts'}

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Summons^{served on D1 to 3They were set ex-parte on} 30.O1.zO24^{as called absentand no representation'}

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The Applicant^{Bank examined Kalva Rajayaswanth'Area} Relationship^{Manager as AW-1 and marked 05 documents through} him as^{Ex. A.1 to Ex. A 05}

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Ld. Counsel^{for the Applicant Bank stated orders may be passed on} merits and^{perusedthe materialplaced 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?

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As stated^{supra,the Defendants remainedex-parte' The Evidence} Atfidavit^{coupledwiththe recitalsin the documents viz} '^{Exs' A'1 to} A.5 marked^{on behalf of the ApplicantBank clinches the claim of the} Applicant Bank^{against the DefendantsHence' Ihold that the} Defendants^{are jointly and severally liable to pay the OA claim t0} the Applicant^{Bank with future interestand costs'}

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In the result.^{the present Original Application No'836/2023is} alowed as^{under: -} n$u'r'5

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n$u'r'5

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OA.No.836/2023

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i) The Defendants are^jointly and severally liable to^{pay to} the Applicant Bank a sum of Rs.38,42,470.89ps as on L2.09.2023 with future interest @11olo^p.a. simple, from the date of application till the date of realization;

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ii) the applicant bank is also entitled to^proceed against the person and properties of the defendant^for realization of its dues;

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iii) the applicant bank is entitled for the^costs.

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L 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., transcribed by him, corrected, signed and^{pronouncedby mein the} open court on this the 30th day of^{April, 2025).}

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dY^"#

¶33

(RAMESHWAR KOTHE) PRESIDING OFFICER

Icici Bank Limited v. as Pharma

Case brief

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Icici Bank Limited v. as Pharma

Case brief

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