Allowed

Icici Bank Limited v. M/s Sri Shanmukha Traders

DRT20 Apr 2026OA/11/2026

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an Original Application filed by ICICI Bank Limited against three respondents for recovery of Rs. 5.23 crore. Being ex parte, the Tribunal examined evidence affidavits and documents, holding the defendants liable to pay the principal, future interest, and costs, directing the issuance of a Recovery Certificate and security realization.

What did the court decide?

Defendants jointly and severally liable to pay Rs. 5.23 crore with future interest; bank entitled to realize dues from mortgaged properties and persons of defendants; Recovery Certificate issued.

Icici Bank Limited versus M/s Sri Shanmukha Traders — DRT (2026) — LawSathi Research

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDEMBAD

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DATED THIS THE 2oth DAY OF APRIL, 2026

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PRESENT: SH. MMESHWAR KOTHE, B.Com. L.LB. (Hons.), M.A.

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PRESIDING OFFICER

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ORIGINALAPPLICATION No: 11 OF 2026

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ICICI BANK LIMITED Nanakramguda,

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R.R. District, Telangana Rep by its Power of Attorney

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......Applicant

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Versus

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1. M/s Sri Shanmukha Traders, No.20. Industrial Park Mydukur Road, Proddatur, Cuddapah - 516362 Rep. by its Proprietor

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Sri Marthala Chandra Obulareddy

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1. Sri Mathala Chandra Obulareddy S/o. Marthala Ramakrishna Reddy Aged about 50 years H.No.10/214, UP Teachers Colony Proddatur Mydukur Road, Rural Proddattur, Cuddapah - 5163360

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Smt Marthala Siva Kumari Wo.^Marthala Chandra Obulareddy Aged about 48 years

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H.No. 10/214, UP Teachers Colony Proddatur Mydukur Road, Rural Proddattur, Cuddapah - 5163360

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....Defendants

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Counsel for the Applicant

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Counsel for the Defendants

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r Mr. R. Rajendra Prasad
I Ex-eaftem(\t\

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oA.NO.1u2025

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:: ORDER^::

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The Applicant^{Bank filed the present OA for the recovery a total} sum of Rs. 5,23,72,757.69^{ps with future interest @24olofrom} the date of^{application till the date of realization along with} costs, and,^{in default, sale of O.A. Mortgaged Properties'}

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summon served^{on DefendantNos. 1 to 3 throughpaper} publication and were set^{exparte on 13.04.2026 as called} absent and no^{representation.}

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The Applicant^{Bank examined Mr. K. Raja Yaswanth,Area} Relationship^{Manager,ES AW-l and marked 28 dOcuments} through him as^{Ex.A.1 to Ex.A'28.}

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Heard ex-parte^{argumentsfrom the learned counsel for the} applicant. Perused^{the materialplacedon record'}

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The point that arises^{for considerationis: -}

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Whether the Applicant^{Bank is entitled} for the ctaim made^{in the OA against} the Defendants and^{O.A. Mortgaged} Properties?

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As stated supra, the^{Defendants remained ex-parte. The} Evidence Affidavit^{coupled with the recitalsin the documents} viz., Exs.A.1 to A.28^{markedon behalf of the Applicant Bank} clinches the claim of^{the Applicant Bank against the Defendants.} Hence, I hold that the^{Defendantsare liable to pay al:_,OO claim} to the Applicant^{Bank with future interestand costs..zlT%ilr,Ib} -^':l'\ ''

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oA.NO.11/2025

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In the result, the present Original Appllcation No.11/2026 is allowed as under: -

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i) The Defendant Nos. 1 to 3 jointly and severally are liable to pay to the Applicant Bank a sum Rs. 5,23,72,757.69 ps with future interest @10olo slmple from the date of application till the date of realization;

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ii) the OA claim is secured by way of mortgage of properties, as described in the schedule annexed to the OA and applicant bank is entitled to proceed against the same for realisation of dues;

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iii) the applicant bank is also entitled to proceed against the person and properties of defendants for realization of its dues;

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iv) the applicant bank is entitled for the costs.

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B. The Applicant Bank is directed to file Cost Memo within 2 weeks from the date of receipt of this Order.

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Issue Recovery Certifi cate accordingly.

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Communicate a copy of this order to the pafties concerned.

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(Dictated to the steno, corrected, signed and pronounced by me in the open court on this the 20th Day of April, 2026).

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Ht'"'d

¶39

SHWAR KOTHE) PRESIDING OFFICER

Icici Bank Limited v. M/s Sri Shanmukha Traders

Case brief

What is this about?

What did the court decide?

Icici Bank Limited v. M/s Sri Shanmukha Traders

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

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