The Tribunal allowed the Original Application filed by ICICI Bank Limited for the issuance of a Recovery Certificate against the defendants for a housing loan default of Rs.43,31,991.08, allowing recovery with reduced interest.
Recovery Certificate issued for Rs.43,31,991.08 with 8% p.a. simple interest from filing date; attachment of schedule properties allowed.
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IN THE DEBTS RECOVERY TRIBUNAL II, KARNATAKA AT BENGALURU
Dated this 12th Day of November, 2025
Present: Sri. T. RAJESH Presiding Officer
OA. No.972/2023
BETWEEN:
ICICI Bank Limited, Bommanahalli Branch office at ICICI Bank Ltd, 4/10, Mythree Tower, Bommanahalli, Hosur main road, Bengaluru-68, Rep. by its constituted attorney Sri. Pramodh G …
… APPLICANT
AND:
...DEFENDANTS
Counsel on record/appeared for: Applicant : M/s. Vidhii Partners Defendants : Exparte
OA. No.972/2023
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:FINAL ORDER:
OA. No.972/2023
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for the amount due in the account.
Both these issues are gone into and decided together.
remains unrebutted as defendants remained exparte. The
evidence tendered by the applicant remains uncontroverted and undisputed. The evidences put forth by the applicant were found
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admissible and are sufficient to prove availment of credit facility
as stated in the OA, as to the execution of loan documents as claimed by the applicant bank and the defaults committed in the accounts. The liability of the defendants and the claim of the amount due are also proved by the above documents. The claim of the applicant is well within the limitation.
issues raised in this manner, this Tribunal is of the view that OA is to be allowed.
was availed for housing purpose and also that OA claim is arrived at by calculating interest at the agreed rate, this Tribunal in view of the OA can be allowed with a reduced interest of 8.00% (simple).
i) The applicant is allowed to recovery an aggregate sum of Rs.43,31,991.08 (Rupees Forty Three Lakh Thirty One Thousand Nine Hundred Ninety One and Eight Paise only) with further interest of 8.00% p.a.(simple) from the date of filing OA
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till the realization from defendants, 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 defendants jointly, severally and personally and the assets of the defendants, including the schedule ‘B & C’ properties are liable for all such amounts due under the loan account. The schedule properties to the OA be the schedule properties to the Recovery Certificate.
ii) If the sale proceeds are not found sufficient to cover
the amount due and payable to the applicant bank, the defendants jointly, severally and personally and their other assets are liable
for all such amounts due under the loan account.
iii) The applicant bank is allowed cost of the proceeding
which applicant to file cost memo within 7 days from the date of receipt of the order.
iv) The Recovery Certificate to be drawn in terms of this
order and transferred to Recovery for execution.
v) Interim Application pending, if any, stands disposed of with this Final Order.
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14. Communicate a copy of the order to the parties concerned
in terms of Section 19(21)(i) of the RDB Act, read with Rule 16 of
DRT (Procedure) Rules, 1993.
[Dictated to the Stenographer (PR), transcribed by her, corrected and signed and pronounced by me in the Open Court, this the 12th Day of November 2025].
Sd/-
(T. RAJESH) PRESIDING OFFICER
ANNEXURES
WITNESSES EXAMINED FOR THE APPLICANT BANK:
AW-1: Mr. Pramodh G, Collection Manager of the applicant bank.
Exhibits on the part of the Applicant:
| Annexure | Particulars |
|---|---|
| A1 | Power of Attorney dated 25.01.2008 |
| A2 | Copy of the letter dated 27.09.2016 |
| A3 | Letter acknowledging the payment dated Nil |
| A4 | Housing loan application of first defendant dated 18.10.2016 |
| A5 | Loan application of second defendant 10.12.2016 |
| A6 | Letter dated 28.11.2016 |
| A7 | Letter dated 28.11.2016 |
| A8 | Sanction letter dated 08.11.2016 |
| A9 | Facility agreement dated 16.12.2016 |
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| A10 | Agreement of sale dated 16.12.2016 |
|---|---|
| A11 | Disbursal request form submitted the defendant No.1 dated Nil |
| A12 | Loan recall notice sent to first and second defendant dated 29.04.2021 |
| A13 | Ledger extract of the loan dated 12.01.2023 |
| A14 | Prepayment statement dated 12.01.2023 |
| A15 | Certificate under Banker Book of Evidence Act dated 10.04.2023 |
Sd/-
(T. RAJESH) PRESIDING OFFICER
2 issues framed by the court
Whether the applicant had succeeded in proving the OA claim against the defendants?
What order regarding the recovery certificate and interest is to be passed?
1 provisions across 1 enactments
ICICI Bank Limited, Bommanahalli Branch
Devi Vara Prasad Y
Baby Anasuya Vajrala
T. RAJESH
As recorded by the court registry
2 orders share this CNR
Judgements on the same questions, provisions and authorities, from every court
