The Presiding Officer disposed of the Securitization Application because the Section 13(2) notice lacked details on account liability and Credit Card dues, directing the bank to issue a corrigendum.
Securitization Application disposed of. Bank directed to issue corrigendum to Section 13(2) notice or withdraw and issue fresh notice.
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Court of the Presiding Officer Debts Recovery Tribunal, Jaipur
Item No. 18
Case No.SA/883/2025
KRISHNA KUMAR Vs ICICI BANK LIMITED
Date: 08.12.2025.
Proceedings through hybrid mode Present:
Shri Ritesh Kalal, Counsel for the Applicant
Shri Akash Sharma, Counsel for the Respondent Bank/FI
In this matter, the notice under Section 13(2) did not depict any liability in the account for which the same has been issued except the interest of Rs. 9654/- and that was also interest for the month when notice under Section 13(2) was issued.
Counsel for the respondent bank submits that there are Credit Card dues and because of the same this account was also declared as NPA. Nothing can be found out from the notice under Section 13(2) about the pendency of the Credit Card loans. Though they may not be secured loans, but while writing that how account becomes NPA, they have to categorically mention that the account becomes NPA because all other accounts are being overdue.
Counsel for the respondent bank further submits that approximately Rs. 6,73,308.03 are the overdue in all the accounts and if the applicants clear the same, the account can be regularized.
Now, it is up to the applicant to clear this amount and run his account specifically. The counsel for the respondent bank will have to issue Corrigendum to this notice under Section 13(2) or to withdraw same and issue fresh notice under Section 13(2). He states that the bank will issue a corrigendum.
The Bank will be entitled to proceed only after 60 days of the issuance of the corrigendum.
In view of the above, this Securitization Application stands disposed of. File be consigned to record, as per rules. Copy of order be uploaded on website.
(Vimal Gupta) Presiding Officer Debts Recovery Tribunal, Jaipur
1 issue framed by the court
Whether the Securitization Application should be dismissed due to incomplete details about liability in the Section 13(2) notice.
1 provisions across 1 enactments
KRISHNA KUMAR
ICICI BANK LIMITED
Vimal Gupta
As recorded by the court registry
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