Debt Recovery Tribunal allowed bank's original application for recovery. Court awarded sum of Rs. 23,02,369.16 with 12% annual interest, rejecting higher bank claim of 24% while directing issuance of recovery certificate.
Direction to pay Rs. 23,02,369.16 plus pendentelite and future interest at 12% per annum with monthly rests from 18.12.2021 along with costs.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
T.A. No. 1123 of 2022
Debts Recovery Tribunal-I, Delhi 4th floor, Jeevan Tara Building, Parliament Street, New Delhi
Presiding Officer: Shri Govind Ballabh Sharma
T.A. No. 1123 of 2022
ICICI Bank Limited
Shell Tower,
7, New Rohtak Road
Block-65, Karol Bagh New Delhi-110005
Applicant
Versus
Mr. Anoop Singh Kadwasra s/o Sh.Ratan Pal R/o S-1/27, Budh Vihar
Phase-I, Raja Pur Kalan Delhi-110085
Also at:
Mr. Anoop Singh Kadwasra s/o Sh.Ratan Pal Babu Jagjiwan Ram Memorial Hospital Nurse Staff, Jahangir Puri New Delhi-110033
Also at:
Mr. Anoop Singh Kadwasra s/o Sh. Ratan Pal BPO, Nefal Choti, Rajgarh Charu-331303
Defendant
Present: Shri Aditya Mishra, Counsel for the applicant bank
Date of Institution: 28.03.2022
Date of Pronouncement: 10.06.2025
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T.A. No. 1123 of 2022
FINAL ORDER
This original application has been filed by the applicant bank on 28.03.2022 before DRT-III, Delhi and then transferred to DRT-I Delhi through Sh.Nitesh Vashisht, authorized representative of the applicant bank under Section 19 of Recovery of Debts and Bankruptcy Act, 1993 against the defendant for recovery of a sum of Rs.23,02,369.16 (Rupees Twenty Three Lacs Two Thousand Three Hundred Sixty Nine and Paisa Sixteen only) along with pendentelite and future interest @24% per annum from 18.12.2021 till the date of realization along with costs.
5d
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T.A. No. 1123 of 2022
informing that the facility has been terminated and called upon the Defendant to make payment but defendant failed to regularize the account and hence the applicant bank has approached this Tribunal for recovery of their dues.
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T.A. No. 1123 of 2022
the contract between the parties comes to an end and the Court/Tribunal has a discretion to award the same depending upon the circumstances of each case. Same principle has been laid down by the Hon'ble Apex Court in the case of Central Bank of India Vs. Ravindra & Others. Taking stock of all the circumstances and keeping in view that there is a drastic fall in rates of interest globally and domestically, I am of the opinion that interest of justice will be served if the interest at the rate of 12% p.a. is awarded.
ORDER
I, allow this OA and direct the defendant to pay to the applicant bank, within a period of 30 days, a sum of Rs.23,02,369.16 (Rupees Twenty Three Lacs Two Thousand Three Hundred Sixty Nine and paisa Sixteen only) together with pendentelite and future interest @12% per annum with monthly rests from 18.12.2021 till the date of realization and costs; failing which the aforesaid amount shall be recovered the sale of movable and immovable properties of the defendant.
(II) The recovery certificate be issued forthwith and be sent to the Recovery Officer, Debt Recovery Tribunal-I, Delhi.
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(III) Parties are directed to appear before the Recovery Officer, DRT I, Delhi on 08.08.2025.
(IV) Copies of final order as well as Recovery Certificate be sent to all concerned free of cost.
(GOVIND BALLABH SHARMA) PRESIDING OFFICER DRT-I, DELHI
(Dictated and pronounced in open court) Dated: 10.06.2025
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1 issue framed by the court
Whether the applications for recovery of defaulted loan dues allowed
3 provisions across 3 enactments
ICICI Bank Limited
Anoop Singh Kadwasra
Govind Ballabh Sharma
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
