Allowed

Icici Bank Limited v. M/s. Bagat Shopping Mall.

DRT25 Mar 2026OA/127/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an Original Application filed by ICICI Bank Limited for recovery of a loan sum of Rs. 78,34,646.80 with interest and costs against the defendant respondents, who remained in default and absconded.

What did the court decide?

Defendants jointly and severally liable to pay Rs.78,34,646.80 with future interest; claim secured by mortgage; Bank can proceed against persons and properties; Recovery Certificate issued.

Icici Bank Limited versus M/s. Bagat Shopping Mall. — Banking and Recovery | DRT (2026)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD

¶2

DATED THIS THE 25TH DAY OF MARCH, 2026

¶3

PRESENT: SH. RAMESHWAR KOTHE, B.CoM., L.LB.^(HONS.), IY.A. PRESIDING OFFICER

¶4

ORIGINAL APPLICATION NO: t27 0F 2024

¶5

ICICI Bank Limited., Gachibowli, ICICI Towers, Serilingam^pally Mandal, Ra ngareddy District. Rep. by its Authorized Signatory.

¶6

.....Applicant.

¶7

Versus

¶8

M/s. Bagat Shopping Mall., Rep by its Proprletor, Sunita Bharat v azir, 3-4-224, Kylash Market Mahankali Temple, Secu nderabad Hyderabad-500003, Telangana State.

¶9

Also at:-

¶10

N,l/s. Bagat shopping Mall., Rep by its Proprietor, Sunita^Bharat Vazir, Flat No.103, H.No.1-8-95/102 Sind hi Colony, Secu ndera bad-500003 Telanga na State.

¶11

Sunitha Bharat Vazir, Wo.Bharat^Vazir Age 62 Years, Occ: Business Flat No.103, H. No.1-8-95/102 Sindhi Colony, Secu^{ndera bad- 500003} Tela ngana State.

¶12

Mr. Bharath Vazir, S/o.^{Mr. Vazir} Age Major, Occ: Business Flat No.103, H. No.1-8-95/102 Sindhi Colony, Secu^{ndera bad- 5000 0 3} Tela ngana State.

¶13

.. . Defenda nts

¶14

Counsel for the APP|icant

: M/s. M. V. Kini

Defendants

: Ex-parte

oA.NO.t27l2024

:: ORDER::

The Applicant Bank filed the present OA for the recovery a total sum of Rs.78,34,646.80ps as on 02.02.2024 from the defendants^jointly and severally with future interest @1Bo/o p.a. from the date of application till the date of realization along with costs and in default for sale of OA schedule properties.

¶22

Summons served on D1 to 3. They were set ex-parte on O1.05.2024 as called absent and no representation.

¶23

The Applicant Bank examined K Raja Yaswanth, Area Relationship Manager, as AW-1 and marked 12 documents through him as Ex. A.1 to Ex. A.12.

¶24

Heard the Ld. Counsel for the Applicant Bank.^perused the material placed on record.

¶25

The point that arises for consideration is:-

¶26

Whether the Applicant Bank is entitled for the claim made in the OA against the Defendants and OA schedule properties?

¶27

As stated supra, the Defendants remained ex-parte. The Evidence Affidavit coupled with the recitals in the documents viz., Exs. A.1 to A.12 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendants, Hence, I hold that the Defendants are jointly and severally liable to pay the OA claim to the Applicallt_ Bank with future interest and costs. fuoort

¶28

oA.NO.t2712024

¶29

¶30

In the result, the present Original Application No.l27/2024 is allowed as under:^-

¶31

i) The Defendants are jointly and severally liable to pay to the Applicant Bank a sum of Rs,78,34,646.80ps with future interest @8.5olo^p.a. simple from the date^of application till the date of realization;

¶32

ii) the OA claim is secured by way of mortgage of properties described in the schedule annexed to the OA and the applicant bank is entitled to proceed against the same to realise its debt;

¶33

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

¶34

iv) the applicant bank is entitled for the costs.

¶35

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

¶36

Issue Recovery Certificate accordingly.

¶37

Communicate a copy of this order to the^{parties concerned.} (Dictated to the steno, corrected, signed and^pronounced by me in the open^{court on} this the 25th Day of March, 2026).

¶38

Ow*

¶39

(RAFIESHWAR KOTHE) PRESIDING OFFICER

Icici Bank Limited v. M/s. Bagat Shopping Mall.

Case brief

What is this about?

What did the court decide?

Icici Bank Limited v. M/s. Bagat Shopping Mall.

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

Coram

Case details

Similar cases

S R Trading Company versus Icici Bank Limited

Asset Reconstruction Company Limited versus Shailesh Kumar Gujjar

Icici Bank Limited versus M/s. Capital Protection Private Limited.

Yes Bank Limited. versus Mrs. Allibada Anitha Goud

Allam Ragunath and a Shailaja versus Bank of India

Mrs K Vinodini versus Indian Bank