Allowed

M/S. Icici Bank Limited v. M/s. C J Enterprises(India) Private Limited

DRT5 May 2026OA/163/2026

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the Original Application filed by ICICI Bank Limited against five defendants who remained ex-parte. The court held the defendants jointly and severally liable to pay the claimed sum with interest and costs, and directed issuance of a recovery certificate.

What did the court decide?

Defendants directed to pay Rs.8,92,80,209.69 with interest; bank entitled to proceed against mortgaged properties and defendants' personal properties; recovery certificate issued.

M/S. Icici Bank Limited versus M/s. C J… — Contract and Commercial Disputes | DRT (2026)

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IN THE DEBTS RECOVERY TRIBUNAL.II AT HYDEMBAD

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DATED THIS THE OsTH DAY OF MAY, 2026

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PRESENT: SH. RAMESHWAR KOTHE, B.COM., L.LB.^{(HONS,), M.A.} PRESIDING OFFICER

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ORIGINAL APPLICATION NO: 763 0F 2026

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M/s. ICICI Bank Limited., Gachibowli, Hyderabad.

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Rep. by its Authorized Signatory.

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.....Applicant.

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Versus

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M/s. C J Enterprises(India) Private Limited., Represented by its Directors H.No.5-4-156, 1302, 13th^{Floor, T19} Tower, MG Road, Secunderabad-500003.

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Mr. Pankaj choadhry, S/o. Sri^Padma Chand Choadhry, Aged Major Occ: Business, H. No.3-6-3698/3,^F-602 Sphinx Apartments, Street^{No.1,Opp: Tanishq} Himayathnagar, Hyderabad - 500029.

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Mr. Srivasta lanaswamy C/o. Krishna Sastry^lanaswamY Aged Major, Occ: Business H. No.6-3- 1239/4ItlSl 1O3lE, Somajiguda Erramanzil, Hyderabad - 500082.

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Mr. Dhanashekhar Muniswamy S/o. Sri Muniswamy, Aged^Major Occ: Business, H.No.ll-3-267 164l^t Madhuranagar, Parsigutta, Near S R Hospital, Secunderabad-500061'

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M/s. C I Chemicals Private^Limited Represented by its Director H.No.5-4-156, 1302, 13th^{Floor, T19} Tower, MG Road, Secunderabad-500003.

/M',,\

... Defenda nts

oA.NO.163/2025

Counsel for the Applicant

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: Mr. Dishit Bhattacharjee

Defenda nts

:Ex-parte

::^qLq-EB ::

The Applicant Bank filed the^present OA for the recovery a total sum of Rs.8,92,80,209.69ps from the defendants^jointly and severally with future interest @10.50yo p.a. compounded monthly from 26.72.20?5 till the date of realization along with costs and in default for sale of OA schedule properties.

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Summons served on D1 to 3 & 5, whereas summons sent to D4 returned with endorsement refused hence, deemed to be served. They were set ex-parte on 15.O4.2026 as called absent and no representation.

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The Applicant Bank examined Kamalaker B, Legal Manager, as AW-1 and marked 19 documents through him as Ex. A.1 to Ex. A.19.

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Heard the Ld. Counsel for the Applicant Bank. Perused the written arguments and material placed on record.

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The^point that arises for consideration is:-

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

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As stated supra, the Defendants remained ex-parte. The Evidence Affidavit coupled with the recitals in the documents viz., Exs. A.1 to A.19 marked onJEhalf of the Applicant Bank /42,*"\ o,

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oA.NO.163/2026

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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 Applicant Bank with future interest and costs.

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In the result, the present Original Application No.163/2026 is allowed as under: -

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i) The Defendants are^jointly and severally liable to pay to the Applicant Bank a sum of Rs.8,92,80,209.69ps with future interest @9.75o/o^p.a. simple 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 described in the schedule annexed to the OA and the applicant bank is entitled to proceed against the same to realise its debt;

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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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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 Certificate accordingly

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oA.NO.153/2026

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Communicate a copy of this order to the^parties concerned. (Dictated to the steno, corrected, siBned and pronounced by me in the open court on this the 05rh Day of May,2026).

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iuq\etl

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(RAMESHWAR KOTHE) PRESIDiNG OFFICER

M/S. Icici Bank Limited v. M/s. C J Enterprises(India) Private Limited

Case brief

What is this about?

What did the court decide?

M/S. Icici Bank Limited v. M/s. C J Enterprises(India) Private Limited

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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