Allowed

Icici Bank Limited v. M/s Sri Uday Kiran Sarees and Textiles

DRT17 Jun 2026OA/22/2026

Case brief

AI extract

What is this about?

In an original application filed by ICICI Bank Limited for recovery of a sum of Rs. 68,02,630 with interest and costs against the defendants, the Debts Recovery Tribunal-II allowed the application. The defendants, appearing through counsel, filed no written statement. Relying on the evidence affidavit and marked documents, the court held the defendants liable and granted the bank's claims regardin

What did the court decide?

The defendants are to pay Rs. 68,02,630 plus 10% simple interest and costs. The bank is entitled to proceed against the mortgaged property and the defendants person and property for realization.

Icici Bank Limited versus M/s Sri Uday Kiran Sarees and Textiles — Banking and Recovery | DRT (2026)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDEMBAD

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DATED THIS THE 17TH DAY OF JUNE, 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: 22 OF 2026

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ICICI BANK LIMITED ("ICICI Bank") Having its registered office at Landmark, Race Course Circle, Vadodara, Gujarat, India- 390 007 and its corporate oFFice at ICICI Bank Towers, Bandra Kurla Complex, Mumbai, India- 400051. Having branches All over India and it regional office at Nanakramguda, R.R. District, Telangana Rep by its Power of Attorney

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.......Applicant

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Versus

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M/s Sri Uday Kiran Sarees and Textiles H.No.2-7-54, lawahar Road, Mahabuabad, Nizamabad, Telangana - 503001 Rep, by its Proprietor

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Sri Dindigalla Venkatesham

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Sri Dindigalla Venkatesham Aged about 57 years H.No.2-1-47, 2-l-48, Uppertekidi, Jawahar Road, Nizamabad, Telangana - 503001

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Smt Dindigalla Vasantha W/o. Venkatesham Aged about 54 years H.No.2-l-47, 2-l-48, Uppertekidi, Jawahar Road, Nizamabad, Telanoana - 503001 . ----- 4sr.1$ / /A-7xx-

.... Defendants

oA.NO.22l2026

Cou nsel for the^APPlicant

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: Mr. R. Rajendra^Prasad

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Cou nsel for the^Defendants

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:Shri K. Sai Sri^Harsha

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:: ORDER^::

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The Applicant^{Bank filed the present OA for the recovery a total} sum of Rs. 68,O2,630/-^{as on 24.11.2025from Defendants 1 to} 3^jointly and severally^{with future interest @24olo p awith} monthly rests from^{the date of applicationtill the date of} realization along^{with costs and, in default,sale of OA} mortgaged^property.

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Though the Defendants entered^{appearancethrough their} co u nsel Shri K. Sai Sri^{Harsha, they did not chooseto file} written statement. Accordingly,^{defendants' right of filing} written statement was^{forfeitedand were set ex-partevide} docket order dated 09.06.2026.

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J. The Applicant^{Bank examinedMr. N. Chandrasekar,Regional} Relationship Manager, as^{AW-1 and marked 25 documents} through him as^{Ex.A.1toEx.A.25.}

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Heard Learned Counsel^{for the Applicant.Perused the material} placed on record

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

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Whether the A\Plicant^{Bank is} entitled for the claim made in the^OA against ry(.$

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oa.No.22l2026

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the Defendants and OA moftgaged property?

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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.25 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendants. Hence, I hold that the Defendants are 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.22/2026 is allowed as under: -

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i) The Defendant Nos. 1to 3 jointly and severally are liable to pay to the Applicant Bank a sum Rs. 68,02,630/- with future interest @ 10o/o 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 property as 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 appllcant bank is entitled for the costs.

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oA.NO.22l2025

B. The Applicant Bank^{is directed to file Cost Memo within2 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,^{signedand pronouncedbV} p+'$the^oOencourton this the 17th^{Day of June, 2026)} Klt'l (RAMESHWAR KOTHE) PRESIDING OFFICER

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Icici Bank Limited v. M/s Sri Uday Kiran Sarees and Textiles

Case brief

What is this about?

What did the court decide?

Icici Bank Limited v. M/s Sri Uday Kiran Sarees and Textiles

Case brief

What is this about?

What did the court decide?

What the court decided

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