Allowed

Icici Bank v. Mr. Vari Kuppala Dasaratham

DRT6 May 2026OA/16/2026

Case brief

AI extract

What is this about?

Debt Recovery Tribunal allowed an original application filed by ICICI Bank for recovery of a default loan amount of INR 39.33 Lakhs, interest, and costs against three defendants including a guarantor, declaring them jointly and severally liable and enabling recovery via hypothecated vehicles.thin

What did the court decide?

Defendants directed to pay sum of Rs.39,33,117 plus future interest; bank entitled to recover via pledged vehicles and properties; recovery certificate issued.

Icici Bank versus Mr. Vari Kuppala Dasaratham — Contract and Commercial Disputes | DRT (2026)

¶1

]N THE DEBTS RECOVERY TRIBUNAL - I AT HYDERABAD

¶2

DATED THIS THE O6th DAY OF MAY,2026

¶3

PRESENT: SRI GUMMADI GOPICHAND, PRESIDING OFFICER

¶4

OA. No. 16 OF 2026

¶5

Between :

¶6

lClCl Bank, lClCl Towers, Serilingampally Mandal, Ranga Reddy District Represented by its Authorized Signatory

¶7

Applicant

¶8

VERSUS

¶9

Mr. Vari Kuppala Dasaratham S/o. Vari Kuppala Venkataiah,

¶10

Age Major,

¶11

Occ. Business,

¶12

17-1-381114, DS Nagar, Near Ammavari Temple, Saidabad,

¶13

Hyderabad - 500 059, Telangana State..

¶14

Orsu Vijaya Orsu Edaiah,

¶15

Hvderabad - 500 059. o- rerJn6a,$dYs?d?5³

¶16

(OA. No. 16/2026)

¶17

3 Mr.Derangula Tirupataiah
S/o.D.chinaLakshmaiah,
AgeMajor,Occ.Business, 8-2-293t82tDBN/J/87,
Durga BhavaniNagar,
Film Nagar, Shaikpet,
Hyderabad-500096,
TelanganaState.		Defendants
Counsel fortheparties:
For TheApplicant	M.VKini
FortheDefendant	Exparte
Reservedon	05.05.2026
Pronouncedon	06.05.2026
Uploadinwebsiteon	12.05.2026

¶18

ORDER

¶19

The Applicant Bank filed the present OA against Defendants for recovery of a total sum of Rs.39,33,117.00 Ps. (Rupees Thirty Nine Lakhs Thirty Three Thousand One Hundred and Seventeen Only) with future interesl @ 24% p.a with monthly rests from 24.07.2025 till the date of realization and in default for Vehicles as mentioned in the Schedule of T* &b^{'1</sup> J^{12 lrAy 2026} : kh,--iY}

¶20

(OA. No. 1612026)

¶21

As per the averments in the application, the Applicant Bank states that Defendants No. 1 to 3 availed Commercial Equipment Loan facility of Rs.45,65,4751 repayable in 46 monthly installment of Rs.1,21 ,9421- wilh interest @24.OO% p.a with monthly rests and executed Unattested Deed of Hypothecation dated 22.12.2021 and hypothecated vehicle morefully mentioned in Schedule to OA in favor of the Applicant Bank. The defendant no. 2 stood as Guarantor and executed Deed of Guarantee dated 22.11.2021 in favor of the Applicant Bank. After availing the loan facility, the defendants failed to comply the terms of sanction, hence the applicant bank classified the account as NPA and issued Loan Recall notice dated 27.09.2022 to the defendants. lnspite of several requests and demands, the defendants did not clear the outstanding. Hence this OA.

¶22

Defendants called absent and set exparte on 05.05.2026

¶23

Sri. Kalva Rajayaswanth, Area Relationship Manager of the Applicant Bank examined himself as AW.1 and exhibited relevant documents, which are marked as Ex.A.1 to A.10.

¶24

Heard the Ld. Counsel for the Applicant Bank.

¶25

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¶26

(OA. No. 1612026)

¶27

The point that arise for consideration is whether the Applicant bank is entitled for the claim made in the OA against the Defendants as prayed for?

¶28

Defendants and remained exparte. To substantiate the case of the Applicant Bank, AW.1, official of the Applicant Bank was examined and he exhibited relevant documents as Ex.A.1 to A.10. ln view of the above, I hold that the Applicant Bank has established their claim made in the OA against the Defendants and hence the Applicant Bank is entitled to recover the claim made in the OA with future interest and costs.

¶29

ln the result, the present OA is allowed with costs, as under .

¶30

The Defendants No. 1 to 3 are^jointly and severally liable to pay to the Applicant Bank a total sum of Rs.39,33,117.00 Ps. (Rupees Thirty Nine Lakhs Thirty Three Thousand One Hundred and Seventeen Only) with future interest @ 24% p.a lrom 24.07.2025 till the date of realization

¶31

Bank is entitled to proceed against the Vehicles mentioned in the Schedule of the e OA towards realization of the debt due.

¶32

w&v

¶33

(oA. No. t6/2o261

¶34

The Applicant Bank is also entitled to proceed against the person and properties of defendants No. 1 to 3 towards realization of the debt due.

¶35

That Applicant Bank is entitled to the costs of the OA.

¶36

The Applicant shall file a cost memo within two weeks from the date of receipt of order.

¶37

lssue Recovery Certificate accordingly.

¶38

Communicate a copy of the order to the parties concerned.

¶39

(Dictated to the P.A., transcribed by her, corrected, signed and pronounced by me in the open court on this the 06th day of May, 2026)

¶40

sd/-
(G. GOPTCHAND)
PRESIDING OFFICER
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j 1z i,IAY ,o26 :ii

Icici Bank v. Mr. Vari Kuppala Dasaratham

Case brief

What is this about?

What did the court decide?

Icici Bank v. Mr. Vari Kuppala Dasaratham

Case brief

What is this about?

What did the court decide?

What the court decided

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Issues for consideration

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