Allowed

Icici Bank Limited v. M/s. Sri Valli Silks.

DRT4 May 2026OA/204/2026

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an Original Application filed by ICICI Bank Limited for recovery of dues totaling approximately Rs. 1.28 crore. The court dismissed the ex-parte defendants' absence and held them jointly liable to pay the claim amount along with interest, costs, and security from mortgaged properties.

What did the court decide?

Defendants directed to pay total sum of Rs. 1,28,71,921.53 with future interest, costs, and security realized from mortgaged properties. Recovery Certificate issued.

Icici Bank Limited versus M/s. Sri Valli Silks. — Banking and Recovery | DRT (2026)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD
DATED THIS THE O4TI] DAY OF MAY, 2026
PRESENT: SH. RAMESHWAR KOTHE, B.Com., L.LB. (Hons.), M.A.
PRESIDING OFFICER
ORIGINAL APPLICATION No: 204 OF 2026
ICICI Bank Limited.,
Having its Regional Office at ICICI
Bank Tower, Plot No.12, Nanakramguda
Serilinga mpa lly, Ranga Reddy - 500032
Tela nga na.
Rep. by its Authorized Signatory. .....Applicant.
Versus
1. N4ls. Sri Valti Sitks.,
Rep by its Partners, H.No.29-461,463
Jandamanu Veedi, Revenue Ward No.9
Chittoor, Andhra Pradesh - 517001.
2. Sri. V. R. Amarnath
S/o. V. V. Ramanaiah, Aged about
51 Years, Occ: Business, R/o. 11-500
Sri Valli Junction, Church Street
Chittoor, Andhra pradesh - 517001.
... Defendants
Counsel for the Applicant : Mr. Rajendera prasad
Defendants
: Ex-parte
:: ORDER ::

¶2

The Applicant Bank flled the present OA for the recovery a total sum of Rs.1,28,71,921.53ps i.e., a sum of Rs.1,20,99,290.35ps towards A/c. No.116605006991 and a sum of Rs.7,82,641.18ps towards A/c. No.116655000012 from the defendants joinuy and severally with future interest @24olo p.a. from the date of I \'^ ' - .,i.'''^'

¶3

oA.NO.2Ul2025

¶4

application till the date of^{realization alongwith costs and in} default for sale of OA^{scheduleproperties.}

¶5

Summons served on^{D1 to 3. They were set ex-parteon} 2A.04.2026 as called^{absent and no representation.}

¶6

The Applicant Bank examined^{M SatishKumar, Legal Manager,} as Aw-1 and^{marked 20 documents through him as Ex A'1 to} Ex. A.20.

¶7

Heard the Ld. Counsel^{for the Applicant Bank' Perused the} material^placed on^record.

¶8

The point that arises^{for consideration is:-}

¶9

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

¶10

As stated supra, the^{Defendants remained ex-parteThe} Evidence Affidavlt^{coupledwith the recitals in the documents} viz., Exs. A.1 to^{A.2O markedon behalf of the ApplicantBank} clinches the claim^{of the Applicant Bank against the Defendants'} Hence, I hold that^{the Defendants are jointlyand severallyliable} to^pay the OA^{claim to the Applicant Bank with future interest} and costs.

¶11

In the result, the^{present OriginalApplicationNo'204/2026 is} allowed as under:^-

¶12

The Defenda nts are^jointly and^severally

¶13

i) liable to^payto the Applicant Bank^{a total} ox,"

¶14

oA.NO.2O4l2026

¶15

¶16

sum of Rs.1,28,7 7,927.53ps i.e., a sum of Rs.1,20,89,280.35ps towards A/c. No. 116605006991 and a sum of No. Rs.7,82,641.18ps towards Alc. 116655000012; with future interest @10.9olo p.a. simple from the date of application tlll the date of realization;

¶17

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;

¶18

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

¶19

iv) the applicant bank is entitled for the costs.

¶20

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

¶21

Issue Recovery Certificate according ly.

¶22

Communicate a copy of thls order to the^parties concerned. (Dictated to the steno, corrected, signed and pronounced by me in the open court on thisthe 04rh Day ofMay,2026).

¶23

."*(o

¶24

V(''c' ESHWAR KOTHE) PRESIDING OFFICER

Icici Bank Limited v. M/s. Sri Valli Silks.

Case brief

What is this about?

What did the court decide?

Icici Bank Limited v. M/s. Sri Valli Silks.

Case brief

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What did the court decide?

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