Allowed

Icici Bank Limited v. Niraj Singh

DRT19 Mar 2026OA/236/2025

Case brief

AI extract

What is this about?

ICICI Bank applied ex-parte for recovery of Rs. 2.11 crores from Niraj Singh and others for defaulted loans. The Bank proved loan sanction, security creation via mortgage/hypothecation, and default through documentary evidence and affidavits. The Tribunal found defendants in default and the claim within limitation, granting recovery including future interest and attachment of assets.

What did the court decide?

Recovery certificate issued for Rs. 2,11,49,843.18 plus interest at 9.50% p.a. mortgaged assets attached for realisation by Recovery Officer.

Icici Bank Limited versus Niraj Singh — Banking and Recovery | DRT (2026)

OA 236 of20251JI

DRT, PATN A

Debts Recovery Tribunal, Patna

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Karpuri Thakur Sadan, Aashiana Digha Road Patna-800025

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Presiding Officer : Shri Kaushalendra Yadav

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OA Case No. 236 of 2025

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ICICI Bank Limited, Zonal Office at 3'd Floor. Gulab Palace, Roop Alankar Jewellery, East Boring Canal Road, Patna

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. . . . . . . Applicant

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Niraj Singh, S/o Deokant Singh, Address- Pataura, Basvariya Road, Pataura Tola Lala, Motihari, East Champaran- 845401, PAN No.CEHPS4299Q

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Jyoti Singh, D/o Raj Kumar Singh, W/o Niraj Singh, Address- Pataura, Basvariya Road, Pataura Tola Lala, Motihari, East Champaran- 845401, PAN No.BWJPD0139D

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Usha Industries, a partnership firm being represented through its partners Niraj Singh and Jyoti Singh, Address- Pataura, Basvariya Road, Pataura Tola Lala, Motihari, East Champaran- 845401, PAN No.AAFFU8822P

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Present:

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For the Applicant Shri Prem Prakash, Advocate For the Defendants None

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Dated:19.03.2026

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JUDGMENT

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The Applicant bank has made this application u/s 19 of the Recovery of Debts and Bankruptcy Act, 1993 (here-in-after referred to as Act) on 01.04.2025 against the defendants to recover its debts from defendants of Rs.2,11,49,843.18 as on 13.02.2025 along with pendente-lite and future interest at the contractual rate from 04.02.2025with costs till realization.

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The application has been filed with the contention that the applicant bank, is a body corporate, carries on the business and is competent to file the suit through various branches including the applicant.

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Defendant no.1 is a partnership firm of which defendant no.2 and 3 are its partners and approached the applicant bank for sanction of loan facilities, vide loan application dated 10.05.2023 and after due consideration, the \X '’~>

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OA 236 of 20251 Jl

DRT, PATNA

applicant bank has sanctioned loan of Rs.215.00 Lakh against the property on 15.07.2023 on various terms and conditions, as stipulated in the sanction letter, which were duly accepted by the defendants. To secure the loan facilities defendants have executed various loan and security documents and also created equitable mortgage in favour of the applicant bank, details of which are given in OA. After completion of formalities, the loan amount was disbursed to the defendants on 17.07.2023 .

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Defendants again approached the applicant bank for sanction of mortgage loan cover facility, vide loan application dated 18.07.2023 and after due consideration, the applicant bank has sanctioned the mortgage loan cover facility of Rs.91,885/- on various terms and conditions, as stipulated in the sanction letter, which were duly accepted by the defendants. To secure the loan facilities defendants have executed various loan and security documents.

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After availing the sanctioned credit facilities, the defendants became irregular in repayment of their dues as per agreed terms and failed to adhere to the financial norms of the bank and avoiding the repayment of its dues to the bank, in spite of several assurances given by it to the applicant bank resulting in the account turning as NPA.

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Since, the defendants failed and neglected in spite of several reminders to make payment of the dues recoverable to the bank, hence this application has been filed by the bank.

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The total liability in the loan account is Rs.2,11,49,843.18 as on 13.02.2025 with pendente-lite and future interest contractual rate from 14.02.2025 till the realization.

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This Tribunal issued summons/notices copies of application & paper book to the defendants by registered/speed post on 07.05.2025, requiring them to show-cause within 30 days of the service U/s 19 (4) of the Act & Rule of the DRT [Procedure] Rules, 1993.

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Despite the service of registered summons/notices, the defendants have not appeared before this Tribunal to contest the case. The sufficient time has been given to the defendants to defend their case, but they failed to appear and

OA 236 of 20251J I

DRT, PATNA

to file WS, hence, the Tribunal has passed an order to proceed ex-parte against the defendants on 17.10.2025 .

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To prove its case, the applicant Bank has referred various certified photocopies of documents before this Tribunal. The applicant bank has also given evidence on affidavit by way of affidavit by Shri Ashish Kumar, Manager of the applicant bank. The details of documents are as follows:

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SI'No	1Descriptionof Documents Photocopies	1Date of I Execution 1	1Amount I(in 1Lakh)	ISigl 1 Executa I	ntsIAnn. INo
1	o form	Fe		Fr
	a		a
	a		e
	photocojy–To title/saledeeds
5	I report				5
6	o credit facility applicationform, Acknowledgement form				6
	Loan recallnotice	24.01.2025		Bank
	Statement of accounts			Bank

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Heard arguments and perused the case record.

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Ld. Counsel of applicant bank submitted that the defendants have taken the loan and utilized the same and also executed the various loan documents to secure the loan. Further, submitted that the claim of the bank has been proved by documentary evidence. All the transactions were entered in the ledger of the loan accounts in the name of the defendant duly maintained by the applicant bank in its usual course of business. The interest /compound interest has been charged at such rates, and capitalized at such periodical rests as are permitted by and do not run counter to the directives of Reserve Bank of India.

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It is further submitted by Id. Counsel of applicant bank that there is no stay granted by any Higher Court, in respect of the proceedings of the present OA and requested to issue recovery certificate, as claimed for, in OA.

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It has been established that defendants are living and carrying on their business in the state of Bihar. Cause of action also arose in the State of Bihar

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DRT, PATNA

OA 236 of 20251 Jl

The said claim on the date of filing of application exceeded Rs.20 laos. The applicant bank is functioning within the jurisdiction of this Tribunal. Therefore, this Tribunal has territorial as well as pecuniary jurisdiction to adjudicate upon the present application.

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On the issue of Limitation, to prove it, the applicant bank has submitted that the applicant bank has declared the account as NPA and the defendants have executed facility agreement on 17.07.2023, whereas the present application has been filed on 01.04.2025. Even, it is counted for the purpose of Limitation, then it is established that the applicant bank has filed the case within the limitation period. As such, it is established that the present application has been filed well within the period of limitation.

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13 . Shri Ashish Kumar, Manager of the applicant bank has filed the affidavit in support of contents of application and the documents as evidence and proved on oath the pleadings and documents of the applicant bank as stated above.

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Section 19(3) of the Recovery of Debts and Bankruptcy Act, 1993 provides that the application u/s S.19 (1) shall be accompanied with true copies of all the documents relied on in support of the claim.

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The rule 12 (10) of the Debt Recovery Tribunal (Procedure) Rules, 1993, provides that if the defendant denies his liability to pay the claim made by the applicant, the tribunal may act upon the affidavit of the applicant who is acquainted with the facts of the case or who has on verification of the record sworn the affidavit in respect of the contents of the application and the documents as evidence.

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The rule 12 (11) of the aforesaid Rules, provides that the provisions contained in section 4 of the Banker’s Books evidence that Act, 1891 (18 of 1891) shall apply to a certified copy of an entry in a Banker’s Books furnished along with application filed under sub section 1 of section 19 by the applicant.

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Section 4 of Banker’s Books evidence Act, 1891 runs as underS.4. Mode of proof of entries in bankers’ books.–Subject to the provisions of this Act, a certifIed copy of any entry in a banker’s book shall in all legal proceedings be received as prima facie evidence of the existence of such entry, and shall be admitted as evidence of the matters, transactions and accounts therein recorded in every case where, and to the same extent as, the original entry itself is now by law admissible, but not further or otherwise.

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As such the certified true copies of the documents are admissible in evidence. The statement of account maintained in the ordinary course of

OA 236 of 2025jJI

DRT, PATNA

business is not only admissible but shall be taken as the correct statement of account, more so since the entries in the statement of account have not been challenged.

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On perusal of the application, documents, affidavit and on consideration of the arguments, it is proved that the defendants have applied for loan and the bank had sanctioned the loan and to secure the loan and for repayment of loan amount with interests etc., the defendants have executed various loan documents, as stated in the application and proved by aforesaid evidence. Defendants have neither denied the utilization of funds advanced by applicant bank nor have pointed out any specific error and discrepancy in the Statement of Account

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The evidence discussed above goes to establish that the amount of loan as mentioned in the O. A., was availed by the borrower under the agreed terms and conditions for repayment with interest. The balance amount till 13.02.2025has been proved to be Rs.2,11,49,843.18 only by way of statement of accounts. There is nothing to prove the amount more than that disclosed in the aforementioned statement. As such this amount is recoverable till full and final realization of the claim.

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In my view, facts of the case stand proved by evidence of the applicant bank. Accordingly, the applicant bank is entitled to recover from defendants jointly and severally of Rs.2,11,49,843.18 along with pendente-lite and future interest @9.50% p.a. with compounded monthly rests from 01.04.2025 (The date of filing of this OA) till realization. So the final order may be passed accordingly, to meet the ends of justice.

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ORDER

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In the result, the application of the applicant bark is allowed and debt is determined with costs against the defendants. The defendants are hereby jointly and severally, ordered to pay the applicant bank its debt amounting to Rs.2,11,49,843.18 along with pendente-lite and future interest @ 9.50% p.a. with compounded monthly rests from 01.04.2025 (The date of filing of this OA) till realization of the entire sum due and recoverable with costs.

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q&*

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Presfdial ODceF BebtB Recovery TnbWr•J PATN A

OA 236 of 20251 Jl

DRT, PATNA

It is made clear that any amount deposited by the defendants, be deducted in the claim amount, if not deducted.

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Defendants are debarred from transferring, alienating encumbering or otherwise dealing with or disposing of the mortgage(i or hypothecated or any other properties and assets without paying the aforesaid adjudicated dues to the applicant bank to secure the ends of justice. The mortgaged or hypothecated assets to secure the loan in question are hereby attached and shall be subject to the final order under the recovery proceedings in pursuance of the Recovery certificate issued under Section 19(22) of Recovery of Debts and Bankruptcy Act 1993. The applicant may submit the certified copy of this Judgment and the Recovery Certificate before the Registrar/Sub- Registrar to endorse the charge over the secured assets.

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Let a certificate of recovery be drawn up forthwith and put up for signatures in terms of provisions contained in Section 19(22) of the Act to be issued, on the basis of the order of the Tribunal to the Recovery Officer. The Recovery Officer shall realize the amount as per the certificate in the manner and mode prescribed under the Act from the defendants, by sale of mortgaged/ hypothecated assets as well as other personal movable/immovable assets of the defendants. The Recovery Officer will issue demand notice to the Certificate debtors only after the proof of compliance under rule 16 of DRT (Procedure) Rules 1993, is submitted by the applicant. If The Applicant /Certificate holder fails to comply with directions of the Recovery Officer, the execution may be dismissed for non-prosecution. The copy of this judgment be uploaded in the website of the Tribunal.

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Parties are directed to appear before the Recovery Officer, DRT, Patna on 04.05.2026. The order be communicated accordingly.

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Judgment signed, sealed, dated and pronounced in the open court on 19th day of March, 2026.

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Dictated &corrected by me.

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[KaushalendraYadav] Presiding Officer Debts Recovery Tribunal, Patna

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FORM NO. 9 [See Regulation 24( 1 )]

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DEBTS RECOVERY TRIBUNAL PATNA

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2nd Floor1 ( A. B & F Wing) Karpuri Thakur Sudan, Kendriya Karamchari Parisar tGPO AL Ashianu Digha Road, Patna-800025

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AT£ UNDER SECTION II(!) READ WITn SECTION 19ta m, AS AMENDED FROM TIME TO TIME.

.ECOVERY OF DE

RC No. 141/2026 IN

Case No: OA/236/2025

In the Matter of: (CH- 1) ICICI BANK LIMITED ZONAL OFFICE AT 3RD FLOOR, GULAB PALACE! ROOP ALANKAR JWELLERY, EAST BORING CANAL ROAD, PATNA ,BIHAR -80000 1

Applicant(s)

–--– Versus

To.

(CD- 1) NIRAJ SINGH S/o Deokant Singh Address- Patdura, Basvariya Road Pataura Tola Lala Motihari.

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Purba C’hamparan ,BIHAR -84540 1

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(CD- 2) JYOTI SINGH (CO- APPLICANT/ COBORROWER)

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D/0- RAJ KUMAR SINGH, W/0- NIRAJ srNGH, ADDRESS- PATAUR A, BASVARIYA ROAD, PATAURA TOLA LALA, MOTIHARI EAST CHAMPARAN - 845401

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Defendant(s)

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(CD- 3) USHA INDUSTRIES (CO- BORROWER) A PARTNERSHIP FIRM BEING REPRESENTED THROUGH ITS PARTNER NIRAJ SINGH AND JYOTI SINGH ADDRESS- PATAUFLA, BASVARIYA ROAD, PATAURA TOLA LALA, MOTIHARI EAST

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CHAMPARAN - 845401

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Recovery Certificate for Rs 21149843.18 1 Rupees Two Crore Eleven Lakhs FQrty Nine Thousands Eight Hundred Forty Three And PJi££_BgLQWJ2d)=I

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In terms of final order dated 19/03/2026 passed by this Tribunal in the above mentioned case, it is ordered that the Applicant Certificate Holder Bank is entitled to recover a sum of Rs. 21149843.18 along with cost. expenses and interest from the 01/04/2025 i.e. date of filing / with effective date of the OA/236/2025 and future interest from order date till the date of realisation in full, jointly or severally from the Certificate Debtors, hereinafter referred to as:-

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CD Nam r+no	Int. Type/Mode	LYe Date	Dat	InRo u nt(RsH)	•L?::tr	n }rder	RC Amount(Rs.)
RAJ SINGH		1/04/2025	9/03/2026	;b1149843.18			1 149843.18
-OTI SINGH (CO- PLICANT/CO- BORROWER)		1/04/2025	L9/03/2026	:l21149843.18	And lly		1149843.18
rSHAINDUSTRIES CO- BORROWER)	Monthly )	1/04/2025	9/03/2026			lltcrcst itt Order	21149843.18

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In case of failure to pay the aforementioned adjudicated amount within 30 days, same shall be recovered from the sale of the mortgaged/hypothecated assets as well as other personal movable/ Immovable assets of the certificate debtors

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The mortgaged or hypothecated assets to secure the loan in question are hereby attached and shall be subject to the final order under the recovery proceeding in pursuance of the Recovery certificate issued under Section 19(22) of Recovery of Debts and Bankruptcy Act 1993

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Parties are directed to appear before ASHISH KUMAR , Recovely Officer, DEBTS RECOVERY TRIBUNAL PATNA on 04/05/2026

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The Recovery Officer shall realize the amount as per this Certificate in the manner and mode prescribed under Sections 25 to 28 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (as amended from time to time) from the above named Certificate Debtors.

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This Certificate has been issued under my signature and seal of the Tribunal on this 20/03/2026

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bbb 'un81
Patna

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PREShiOFFICER DEBTS RECOVERY TRIBUNAL PATNA Ptdan Often D•bt8 Recovery THt>"nu PATNA

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FORM NO. 10

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[See Regulation 24(2)]

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DEBTS RECOVERY TRIBUNAL PATNA

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2nd Floor, (A. B & F Wing) Karpuri Thakur Sadan, Kendriya Karamchari Parisar

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(GPOA), Ashiana Digha Road, Patna-800025 .

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SCHEDULE TO RECOVERY CERTIFICATE MEMO OF COSTS

RC No. 141/2026

Case No: OA/236/2025

Applicant(s): ICICI BANK LIMITED Versus

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Defendant(s): NIRAJ SINGH

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Item ofCosts	lount inRs
)	m5
c	ro
(	ro
o ;iii	Fo
e	[0
TotalCosts:Rs,	150000

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Place: PATNA

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PRESID&(iOFFICER Date: 20/03/2026 DEBTS RECOVERY TRIBUNAL PATNA PtOdaR8 Often Note: Strike out whichever is not applicable Dobu RecoveR Tr+b11nRl PATNA

Icici Bank Limited v. Niraj Singh

Case brief

What is this about?

What did the court decide?

Icici Bank Limited v. Niraj Singh

Case brief

What is this about?

What did the court decide?

What the court decided

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