Allowed

Icici Bank Limited v. Umapathy

DRT25 Aug 2025TA/1381/2023

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed an original application filed by ICICI Bank Limited for the recovery of rupees ten lakh twenty three thousand nine hundred and sixty six along with further interest and costs from three defendants who had availed a personal/business loan facility and defaulted on repayments.

What did the court decide?

Recovery of sum of Rs.10,23,966/- along with further interest at 16.50% p.a. and costs.

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

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T.A. No. 1381 of 2023

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25.08.2025

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IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI

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Dated this the 25^th day of August, 2025

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Present: SMT. S.V. GOWRAMMA Presiding Officer

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TRANSFERRED APPLICATION No. 1381 of 2023

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(Originally filed before DRT- II, Chennai as OA 335/2019 and thereafter transferred to this Tribunal and renumbered as TA No 1381 of 2023)

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ICICI Bank Limited

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Rep. by its Authorised Signatory, No. 1, Cenotaph Road, Teynampet, Chennai – 600 018. ….Applicant

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-Vs-

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K. Umapathy, S/o. Sabapathi Kasilingam, SPNO. 15/1A, Maruthu Pandi Nagar, 27^th Street, Attanthangal,

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Chennai, Tamilnadu – 600067.

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Raja Umapathy,

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S/o. Umapathy Kasilingam, SPNo.15/1A, Maruthu Pandi Nagar, 27^th Street, Attanthangal,

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Chennai, Tamilnadu – 600067.

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Rooba Agencies,

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41707-A, Venkateswara Complex,

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1^st Floor, GNT Road,

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Padiyanallur.

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Ponneri, Chennai – 600052. …..Defendants

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Counsels on record / appeared:

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Counsel for Applicant : M/s. M. Ajmal Azzath

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Defendants 1 to 3 were set ex-parte on 22.08.2019

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: - FINAL ORDER - :

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This Original Application is filed on 11.03.2019 by the applicant

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bank under Section 19(1) of Recovery of Debts and Bankruptcy Act, 1993

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T.A. No. 1381 of 2023

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25.08.2025

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(formerly Recovery of Debts Due to Banks and Financial Institutions Act, 1993) against the defendants for recovery of a total sum of Rs.10,23,966/- (Rupees Ten Lakh Twenty Three Thousand Nine Hundred and Sixty Six only) due in respect of Personal/Business Loan Facility (A/c No.UPCHE00035247726) repayable together with further interest @ 16.50% per annum with monthly rests from the date of application till the date of realization in full and for costs of this application.

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Originally, this Application was filed before DRT-II, Chennai, assigned OA No.335 of 2019, and thereafter in pursuance to the notification from Ministry of Finance, DFS dated 04.10.2022, OA No.335 of 2019 stood transferred to this Tribunal and renumbered as TA No.1381 of 2023.

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Brief Facts of the case:

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The Applicant submits that the application is filed within the period of limitation as prescribed under Section 24 of the Recovery of Debts and Bankruptcy Act, 1993, and the subject recovery claim falls within the jurisdiction of this Hon’ble Tribunal.

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It is the case of the Applicant Bank that the defendant approached the applicant bank vide Loan Application Form dated 12.01.2017 and sought for sanction of personal loan for the development of the business, and executed the Credit Facility Application Forms dated 12.01.2017 in favour of the applicant.

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T.A. No. 1381 of 2023

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25.08.2025

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It is submitted that after scrutinizing the documents, the same was considered by the applicant bank and Credit Facility (Personal/Business Loan) to the tune of Rs. 15,00,000/- was sanctioned and disbursed the loan to the defendants on 25.01.2017 vide A/c No. UPCHE00035247726, which was acknowledge by the defendants. The said loan is repayable with rate of interest 16.50% p.a. in 60 equal monthly instalments of Rs. 53107/- per instalment commenced from 10.02.2017 to 10.01.2020 and the defendants are liable to be payable to the applicant late fee charges, default interest, penalty charges etc., and for repayment of the said amounts with rate of interest 16.50% p.a. on demand to the applicant.

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The applicant bank submits that the defendant had executed the following documents for the credit facility of Rs.15,00,000/-:

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a) The Credit Facility Agreement of Rs. 15,00,000/- dated 12.01.2017, with rate of interest 16.50% per annum in 36 equal monthly instalments.

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It is submitted that after availing the Credit facility, the defendants did not bother to repay the loan amount due. Even after repeated demands made by the applicant towards the repayment of loan dues, the defendants evaded to repay the same. The defendants were highly irregular in paying the above said monthly instalment amounts to the applicant after having sufficient incomes from their business. The applicant states that since the defendant was being a chronic defaulter the applicant therefore recalled the defendant's entire loan amount as per the terms and conditions of loan agreement and issued Recall Notice

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T.A. No. 1381 of 2023

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25.08.2025

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dated 10.08.2018. The defendants are liable to pay entire outstanding amounts to the applicant with rate interest 16.50% p.a. forthwith. Hence the present Original Application (OA) has been filed by the applicant bank for recovery of its dues from the defendants.

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After the filing of the OA, summons to D1 to D3 were sent to defendants through Registered Post with Acknowledgment Due, which returned with the endorsement ‘Left’. Applicant bank had caused paper publication of the notice and filed proof thereof. When OA was taken up on 22.08.2019 even after giving sufficient time, there was no appearance

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or representation from the defendants. Hence, defendants 1 to 3 were placed ex-parte on 22.08.2019.

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Heard the submissions of Applicant Bank and perused the records.

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To prove the case of the Applicant Bank, Sh. N. B. Dhanasekaran, Authorized Signatory representing the Applicant Bank, has filed his Affidavit by way of evidence and same was considered as evidence of AW-1 and list of documents came to be marked as Ex A-1 to A-15 . As

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the defendants remained ex-parte, the OA claim remains unchallenged. There is no contra evidence available on record to repudiate the claim of the Applicant Bank.

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With regard to the amount advanced, the interest applied, the conduct and operations in the account and the default committed, this Tribunal comes to the conclusion that the applicant bank is entitled for a

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T.A. No. 1381 of 2023

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25.08.2025

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final order on the following terms:

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: O R D E R :

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The OA is allowed with costs,

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(a) The applicant bank is allowed to recover from the Defendants a sum of total sum of Rs.10,23,966/- (Rupees Ten Lakh Twenty Three Thousand Nine Hundred and Sixty Six only) due in respect of Personal/Business Loan Facility (A/c No.UPCHE00035247726) repayable together with further interest @ 16.50% per annum with monthly rests from the date of filing the OA till date of realization in full along with costs.

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(b) The applicant bank shall file the latest memo of calculation of OA amount together with interest, costs etc., to be paid by the defendants duly considering the amounts, if any, paid by the defendants and/or amount realized by sale of assets etc., during the intervening period after the filing of the OA, enabling the Registry to prepare Recovery Certificate for the amount to be paid by defendants to the applicant bank.

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(d) Recovery Certificate shall be drawn up and issued to the Recovery Officer in terms of the final order.

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T.A. No. 1381 of 2023

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25.08.2025

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A copy of this order be communicated to the parties concerned.

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Sd/-

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(S.V. GOWRAMMA)

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PRESIDING OFFICER, DRT-III, CHENNAI

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(Dictated to Steno (Deepika), transcribed by her, corrected, signed and pronounced by me on this the 25^th day of August, 2025)

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ANNEXURES

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WITNESSES EXAMINED FOR THE APPLICANT BANK :

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AW-1: Sh. N. B. Dhanasekaran, Authorized Signatory representing the Applicant Bank.

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Exhibits on the part of the Applicant:

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Sl. No.	Description of Documents	Exhibit No.
1.	Preliminary Credit Facility Application Form of 1^st defendant dated 12.01.2017.	A-1
2.	Preliminary Credit Facility Application Form of 2^nd defendant dated 12.01.2017.	A-2
3.	Credit Facility Application Form dated 12.01.2017.	A-3
4.	Proposal Form dated 24.01.2017.	A-4
5.	Key Fact and Most Important Information dated 12.01.2017.	A-5
6.	Addendum	A-6
7.	Pan Card of 1^stdefendant	A-7
8.	Aadhaar Card of 1^stdefendant	A-8
9.	Family Card of 1^stdefendant	A-9
10.	Pan Card of 2^nddefendant	A-10
11.	Aadhsar card for 2^nddefendant	A-11
12.	Electricity Bill card for the 2^nddefendant	A-12
13.	Commercial Taxes Department	A-13
14.	Loan Recall Notice dated 10.08.2018.	A-14
15.	Statement of Accounts dated 12.10.2018.	A-15

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T.A. No. 1381 of 2023

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25.08.2025

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Witness Examined for the Defendants: -Nil-

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List of Documents Exhibited for the Defendants: -Nil –

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SCHEDULE

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-NIL-

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Sd/(S.V. GOWRAMMA) PRESIDING OFFICER, DRT-III, CHENNAI

Icici Bank Limited v. Umapathy

Case brief

What is this about?

What did the court decide?

Icici Bank Limited v. Umapathy

Case brief

What is this about?

What did the court decide?

What the court decided

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Statutes considered

Parties & counsel

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