Allowed

Icici Bank Limited v. Chennakeshava

DRT27 Aug 2026OA/114/2025

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the applicant bank's application for issuance of a recovery certificate against a personal loan defaulter appearing ex parte. The court reduced the interest rate to 10% p.a. and directed execution.

What did the court decide?

Recovery certificate directed to be drawn for Rs.31,49,860.42 with 10% p.a. interest from 21.10.2024; costs awarded; interim application disposed of.

Icici Bank Limited versus Chennakeshava — Execution and Attachment | DRT (2026)

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IN THE DEBTS RECOVERY TRIBUNAL II, KARNATAKA AT BENGALURU

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Dated this 27^th Day of August 2026

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Present: Sri. T. RAJESH Presiding Officer

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OA. No.114/2025

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BETWEEN:

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ICICI Bank Limited Bommanahalli Branch, No.4/10, Mythree Tower, Bommanahalli, Hosur Main Road, Bengaluru-560068. … APPLICANT

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AND:

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Mr.Bandi Chennakeshava S/o.Kondaiah R/at: No.106, CKB Layout, Munnbekolla, Marathalli, Bangalore-560037. Karnataka. ...DEFENDANT

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Counsel on record/appeared for:

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Applicant : Vidhii Partners Defendant : Exparte

OA. No.114/2025

: FINAL ORDER:

The present Original Application in short (OA) has been filed under section 19 of Recovery of Debts and Bankruptcy Act 1993 for seeking issuance of Recovery Certificate against the defendant for Rs.31,49,860.42/-(Rupees Thirty One Lakhs Forty Nine Thousand Eight Hundred Sixty and Paisa Forty Two Only) with further interest thereon from the date of filing the Application till realization from the Defendant.

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The Defendant availed Rs.25,00,000/- (Rupees Twenty-Five Lakhs Only) for the purpose of Personal Loan.

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It is also the case of the applicant that, in view of the above financed credit facility, the defendant executed necessary loan documents.

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It is further contended that, despite availing the credit facility, agreeing to service the loan amount promptly and regularly, the defendant failed in complying the same, resulting in default in repayment and consequentially turning the loan account as NPA.

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In the above circumstances, the applicant approached this Tribunal by filing this OA seeking issuance of Recovery Certificate for the amount due in the account.

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OA. No.114/2025

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Despite, service of summons on the defendant they failed to appear, resulting the defendant being set exparte on 25.03.2026.

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The applicant had let in evidence through AW-1, who filed Proof Affidavit reiterating the contentions taken in the OA and also produced Exhibits A1 to A8 and got the same marked in evidence.

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Heard the Ld. Counsel for the Applicant and considered the contentions as taken in the OA in the light of documentary evidence and proof affidavit.

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The following issues arise for consideration in this matter:

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i) Whether the applicant had succeeded in proving the OA claim as against the defendant?

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ii) What order are to be passed?

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Both these issues are gone into and decided together.

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The case put forth by the applicant in the Application remains unrebutted as defendant remained exparte. The evidence tendered by the applicant remains uncontroverted and undisputed. The evidences put forth by the applicant were found admissible and are sufficient to prove availment of credit facility as stated in the OA, creation of security interest as claimed by the applicant bank

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OA. No.114/2025

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and the defaults committed in the account. The liability of the defendant and the claim of the amount due are also proved by the above documents. The claim of the applicant is well within the limitation.

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Hence in view of the above findings which cover both the issues raised in this manner, this Tribunal is of the view that OA is liable to be allowed.

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Taking into consideration the facts that the credit facility was availed for Personal Loan, and also that OA claim is arrived at by calculating interest at the agreed rate, this Tribunal in view of the OA can be allowed with a reduced interest of 10.00% p.a.(simple)

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In the result, OA.No.114/2025 stands allowed,

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i) The applicant is allowed to recover an aggregate sum of Rs.31,49,860.42/-(Rupees Thirty-One Lakhs Forty-Nine Thousand Eight Hundred Sixty and Paisa Forty-Two Only) along with current and future interest of 10% p.a.(simple) from 21.10.2024 till the realization, due as Personal Loan. from defendant personally, after giving credit to the amount recovered and received during the pendency of the OA if any.

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OA. No.114/2025

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ii) If the sale proceeds are not found sufficient to cover

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the amount due and payable to the applicant bank, the defendant

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and his other assets are liable for all such amounts due in loan

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accounts.

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iii) The applicant bank is allowed cost of the proceeding

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which applicant to file cost memo within 7 days from the date of receipt of the order.

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iv) The Recovery Certificate to be drawn in terms of this

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order and transferred to Recovery for execution.

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v) Interim Application pending, if any, stands disposed of

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with this Final Order.

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Communicate a copy of the order to the parties concerned

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in terms of Section 19(21)(i) of the RDB Act, read with Rule 16 of DRT (Procedure) Rules, 1993.

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[Dictated to the Stenographer (GS), transcribed by her, corrected and signed and pronounced by me in the Open Court, this the 27^th Day of August 2026].

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Sd/(T. RAJESH) PRESIDING OFFICER

OA. No.114/2025

ANNEXURES

WITNESSES EXAMINED FOR THE APPLICANT BANK:

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AW-1: Sri. Harish E, Manager of the Applicant Bank.

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Exhibits on the part of the Applicant:

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Sl. No.	Description of Documents	Exhibit Number
1.	Personal Loan Application form bearing No. EP002003766 dated 14.09.2022	A1
2.	Credit Facility Application Form bearing No. EP002003766 dated 21.09.2022	A2
3.	The key Fact Statement dated 21.09.2022	A3
4.	Loan Recall notices dated 14.08.2023	A4
5.	Ledger Extract bearing No.LPB NG00046420999 and Foreclosure Statement in respect of loan account dated 21.10.2024.	A5 & A6
6.	Certificate under Section 2-A of the Banker’s Books Evidence Act,1891 dated 16.11.2024	A7
7.	Certificate Under Section 63 of The Bharatiya Sakshya Adhiniyam,2023	A8

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Sd/(T. RAJESH) PRESIDING OFFICER

Icici Bank Limited v. Chennakeshava

Case brief

What is this about?

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Icici Bank Limited v. Chennakeshava

Case brief

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