Allowed

M/s. Icici Bank Ltd. v. Mr. Syed Abdul Wajid

DRT9 Jul 2026OA/219/2026

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed an Original Application filed by ICICI Bank for recovery of a loan amount of Rs. 54,89,265.40 along with interest and costs from Ashfaq Mubarakpura. The court held the defendant liable based on the evidence affidavit and marked documents, directed the release of hypothecated vehicles, and issued a recovery certificate.

What did the court decide?

Defendant directed to pay Rs. 54,89,265.40 plus interest and costs; Recovery Certificate issued; authorization to proceed against hypothecated vehicles and defendant's properties granted.

M/s. Icici Bank Ltd. versus Mr. Syed Abdul Wajid — Banking and Recovery | DRT (2026)

¶1

IN THE DEBTS RECOVERY TRIBUNAL.II AT HYDERABAD DATED THIS THE OgTH DAY OF JULY, 2026

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PRESENT: SH. RAMESHWAR KOTHE, B.Com., L.LB. (Hons.), N4.A. PRESIDING OFFICER

¶3

ORIGINAL APPLICATION No: 219 OF 2026

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M/s. ICICI Bank Ltd., Branch Office at Khairatabad, Hyderabad. Rep. by its Authorized Signatory.

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.....Applicant.

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Versus

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I4r. Syed Abdul Wajid, S/o. Syed Abdul Hameed, Age Major, Occ: Pvt. Employee R/o. No.62, Crown Shams Muda Heights Road No.12, MLA Colony, Banjara Hills Hyderabad - 500034.

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Also at:-

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NO. 10-5-2-7A, Road No.1, Banjara Hills Circle 10, Hyderabad - 500034.

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Also at:-

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No. 18-7-4251506, Talab Katta, Near Deccan Hotel, Charminar, Hyderabad-500002.

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...Defendant

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: Mr. V. Dharmasuri Counsel for the Applicant

Defendant

: Ex-parte

:: Q-[-Q-f( ::

The Applicant Bank filed the present OA for the recovery a total sum of Rs.54,89,265.40ps towards Loan A/c. Nos. LU HYD00044929759 with interest @15.01o/o p.a. and LU HYDo0048959875 with interest @15.26010 p.a. from the defendant from 08.01.2026 till the date of realization along with costs and in default for sale of hypothecated vehicles.

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'l 1^wvrr,z "! ' i-r.''r^'_

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oA.NO.219/2026

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Summon served on sole defendant through paper publication and was set ex-parte on 03.07.2026 as called absent and no representation-

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The Applica nt Bank examined Kalva Rajayaswanth, Area Relationship Manager, as AW-1 and marked 11 documents through him as Ex.A.1to Ex.A.11.

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

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The point that arises for consideration is:-

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Whether the Applicant Bank is entiued for the claim made in the OA against the Defendant and OA hypothecated vehicles?

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As stated supra, the Defendant remained ex-parte. The Evidence Affidavit coupled with the recitals in the documents viz., Exs.A.1 to A.11 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendant. Hence, I hold that the Defendant is 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.21912026 is allowed as under: -

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i) The Defendant is liabte to pay to the Applicant Bank a total sum of Rs.54r89,265.40ps towards Loan A/c. No. LU HYD00O44929759 and LU HYD00048959875; with future interest @"

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oA.NO.219l2026

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@15.01%^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 hypothecation of vehicles described in the schedule annexed to the OA and the applicant bank is entitled to proceed against the same to realise its deb!

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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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B. 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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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 09th Day of July, 2026).

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S-or.rvrt

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(RAMESHWAR KOTHE) PRESIDING OFFICER

M/s. Icici Bank Ltd. v. Mr. Syed Abdul Wajid

Case brief

What is this about?

What did the court decide?

M/s. Icici Bank Ltd. v. Mr. Syed Abdul Wajid

Case brief

What is this about?

What did the court decide?

What the court decided

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