Allowed

Icici Bank Limited v. Uniforce Energy System Pvt. Ltd. and Ors.

DRT28 Oct 2025TA/952/2022

Case brief

AI extract

What is this about?

The Tribunal allowed an original application filed by ICICI Bank Ltd. against three defendants for recovery of loan dues. The defendants were absent. The Court approved the principal sum of Rs. 44,58,735/- and awarded interest at 12% per annum instead of the contract rate.

What did the court decide?

Defendants to pay Rs.44,58,735/- along with interest @12% p.a. with monthly rests and costs; recovery certificate to be issued.

Icici Bank Limited versus Uniforce Energy System Pvt. Ltd… — Execution and Attachment | DRT (2025)

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T.A. No. 952 of 2022

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Debts Recovery Tribunal-I, Delhi 4th floor, Jeevan Tara Building, Parliament Street, New Delhi

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Presiding Officer: Shri Govind Ballabh Sharma

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T.A. No.952 of 2022

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ICICI Bank Ltd. 2ndfloor, Videocon Towers Block E-1, Jhandewalan Extn. New Delhi-110055 Applicant
Versus
. M/s Uniforce Energy System India (P) Ltd Through its Director Mukesh Kumar c/o: 1472/3, New Railway Road Mahavir Pura, Gurgaon Haryana-122001
2. Mukesh Kumar s/o Rajbir Singh /o :1472/3, New Railway Road Mahavir Pura, Gurgaon Haryana-122001 Also at: Chhappar (245), Chhappar hajjar, Haryana-124108
3. Renu d/o Sh. Bhagwan /o: 1472/3, New Railway Road Mahavir Pura, Gurgaon Haryana-122001 Also at: Chhappar (245), Chhappar Jhajjar, Haryana-124108 Defendants
Present: Mr. Deepak Kaushik, Counsel for the applicant bank
Date of Reserve: 07.10.2025
Date of Pronouncement: 28.10.2025

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T.A. No. 952 of 2022

FINAL ORDER

This original application has been filed by the applicant ank on 18.02.2019 before DRT-III Delhi and then transferred o DRT-I, Delhi through Sh.Nitesh Vashisht, authorized epresentative of the applicant bank under Section 19 of ecovery of Debts Due to Banks and Financial Institutions Act, 993 against the defendants for recovery of a sum of s.44,58,735/- (Rupees Forty Four Lacs Fifty Eight Thousand even Hundred Thirty Five only) as on 12.12.2019 along with endentelite and future interest @17% per annum from the •^{ate of filing of this application till the date of realization along} ith costs.

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The brief facts of the case are that on the request of the efendant no.1 being private limited company through its irector being defendant no.2 and co-borrower being efendant no.3, the applicant bank sanctioned Personal Loan acility for a sum of Rs.30,00,000/- (Rupees Thirty Lacs only) n 04.12.2015 which was to be repayable in 36 EMIs of s.1,06,958/- alongwith interest @17% per annum and penal nterest @24% per annum in case of delayed instalment.

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In order to avail the loan facility, the defendants ubmitted loan application and executed Loan Agreement with he applicant bank on 04.12.2015.

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A It has been submitted by the applicant bank that after vailing the aforesaid loan facility, the defendants failed to omply with the terms and conditions of sanction and failed to epay the interest and installments to regularize the account ith the applicant bank. Ultimately, the applicant bank issued

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T.A. No. 952 of 2022

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otice dated 20.07.2018 to make the payment but defendants eglected, hence the applicant bank has approached this ribunal for recovery of their dues.

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Notices of this O.A. were issued to the defendants and 11 espite of proper service, the defendants have chosen to bsent from the proceedings. As per order dated 15.10.2024, he defendants have been proceeded ex-parte as not appeared efore the Tribunal and even written statement, evidence and ffidavit of assets have not been filed by the defendants.

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In order to prove its case, the applicant bank has filed its vidence by way of affidavit of Sh.Nitesh Vashisht, authorized epresentative of the applicant bank, who has proved the ocunnents as Power of Attorney, Original Loan Application, 11 riginal Credit Facility, Original Disbursal Memo along with 1 e ther Documents, Loan Recall Notice, Copy of Postal Receipts, ertified Statement of Account, Certificate under Section 65-B 0 f the Indian Evidence Act 1872 and Section 2A of the Banker ook Evidence Act marked as Ex.PW-1/1 to Ex.PW-1/8.

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The applicant bank has fully corroborated the averments ade in the O.A. Even otherwise the whole case of the pplicant bank is based on the documents and the same have 0 een duly approved.

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0 The case filed by the applicant bank gone unrebutted and here is no question of disbelieving the case of the applicant 11 ank and the applicant bank has proved its case beyond easonable doubts.

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As per the provision of Section 19(20) of the Recovery of 11 ebts Due to Banks and Financial Institution Act, 1993 which

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T.A. No. 952 of 2022

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i. analogous to Section 34 of CPC, on filing of the suit/claim, he contract between the parties comes to an end and the ourt/Tribunal has a discretion to award the same depending pon the circumstances of each case. Same principle has been I. id down by the Hon'ble Apex Court in the case of Central Bank 0 f India Vs. Ravindra & Others. Taking stock of all the ircumstances and keeping in view that there is a drastic fall in ates of interest globally and domestically, I am of the opinion hat interest of justice will be served if the interest at the rate 0 f 12% p.a. is awarded.

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In the light of the above discussions, the Original pplication deserves to be allowed.

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ORDER

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I, allow this OA and direct the defendants to pay to the pplicant bank, jointly or severally, within a period of 30 days, sum of Rs.44,58,735/- (Rupees Forty Four Lacs Fifty Eight housand Seven Hundred Thirty Five only) as on 12.12.2019 ogether with pendentelite and future interest @12% per nnum with monthly rests from the date of filing of this pplication till the date of realization and costs; failing which he aforesaid amount shall be recovered from the sale of ovable and immovable properties of the defendant.

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II)^{The recovery certificate be issued forthwith and be sent} o the Recovery Officer, Debt Recovery Tribunal-I, Delhi.

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III)^{Parties are directed to appear before the Recovery} • fficer, DRT I, Delhi on 26.12.2025.

T.A. No. 952 of 2022

IV) Copies of final order as well as Recovery Certificate be ent to all concerned free of cost.

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(GOVIND BALLABH SHARMA) PRESIDING OFFICER DRT-I, DELHI