Allowed

M/s. Icici Bank Ltd. v. M/s. Jayasree Enterprises.

DRT14 Aug 2026OA/292/2026

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the original application filed by ICICI Bank for recovery of loan and overdraft dues from the respondents. Finding the respondents jointly and severally liable based on documentary evidence, the court directed payment of the claim with interest, enforcement against mortgaged properties, and issuance of a recovery certificate.

What did the court decide?

Respondents to pay Rs. 1,82,38,538.20 with future interest; OA claim secured by mortgage; recovery certificate to be issued; costs to be paid.

M/s. Icici Bank Ltd. versus M/s. Jayasree… — 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 14TH DAY OF AUGUST, 2026

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PRESENT: SH. MMESHWAR KoTHE, B.com., L.LB. (Hons.), M.A. PRESIDING OFFICER

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ORIGINAL APPLICATIoN No: 292 oF 2026

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M/s. ICICI Bank Ltd., Branch at 251142, Sanjeevan Nagar Nandyal - 518501. Rep. by its Authorized Signatory.

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.....Appticant.

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Versus

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M/s. Jayasree Enterprises., Sy.No.760 3, D.No. 2 4OS Z2OB Sreenivasa Nagar, Near Main Road Nandyal, Kurnool - S 18501.

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Rep by its^partner Sri Narayana Ravi Kumar.

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Sri Narayana Ravi Kumar, S/o. Sri Narayana Krishna Murthy, Age Major Occ: Business, R/o. H.No.Z 514 B 1 A Balaji Complex, Nandyat, Kurnool _ 518501.

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Sri N Murali Mohan, S/o. Sri Narayana Krishna Murthy, Age Major, Occ: Business R/o. D. No. 2 4 0S 2203, Sreenivasa Nagar Kurnool - 518501.

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Sri. N. Subbaratnamma, Wo. Narayana Krishna Murthy, Age Major, Occ: Business R/o. H.No. 2-5t7-c5, Balaji Comptex Mansoorabad, Hyderabad, Hayathnagar Telangana - 500068.

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...Defendants

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Counsel for the Applicant

Defendants

: Mr. V. Dharmasuri

: Ex-parte

a(..*

oA.NO.292l2026

:: (LLLEL^::

The Appticant^{Bank filed the present OA for the recovery a total} sum of Rs.1,82,38,538.20ps^{i.e., a sum of Rs'L,67,44,577/-} towards Overdraft^{A/c. No.068805014152 with interest@885o/o} p.a. and a sum of^{Rs.20,93,961'20ps towards Loan} A/c. No.068855000025^{with interest @9'850/o p afromthe} defendants^{jointly and severally from the date of applicatlontill} the date of^{realizationalongwithcostsand in defaultfor sale of} OA schedule^proPerties.

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Summons^{served on D1 to 5 through paper publication'They} were set ex-parte on^{03.08.2026as calledabsent and no} representation.

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The Applica nt^{Ba nk} examined Kalva^{RajaYaswanth,Area} RelationshiP Ma^nager, as AW-1 and marked^{32 documents} through him as^{Ex. A.1} to Ex. A.32.

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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 considerationis:-}

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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 Affldavit coupled with the recitals in the^documents viz., Exs. A.1 to A.32 marked on behalf of the^{ApplicantBank} clinches the claim of the Applicant Bank against the Defendants. Hence, I hold that the Defendants are^jointly and severally liable

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ffi.,xt-r

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oa-No.29212026

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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.292/2026 is allowed as under: -

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i) The Defendants are joinuy and severally liable to pay to the Applicant Bank a total sum of Rs.1,82,38,538.20ps i.e., a sum of Rs.7,6L,44,577/- towards Overdraft A/c. No. 068805014152 and a sum of Rs.20,93,961.20ps towards Loan A/c. No. 068855000025; with future interest @9.85o/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 entiued to proceed against the person and properties of defendants for realization of its dues;

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iv) the applicant bank is entifled 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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,zA rtw.,r-,i/tt^No^{- -}

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1. Issue Recovery certificate accoroingy T\

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oA.NO.292l2025

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Communicate^{a copy of this order to the parties concerned'} (Oia,","O to the steno,^{corrected,signedand pronounced by me in the open court on} this the^{l.4th DaY of August,2026)'} /Zry'* t**6tesHwnR^KorHE) PRESIDING^OFFICER

M/s. Icici Bank Ltd. v. M/s. Jayasree Enterprises.

Case brief

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M/s. Icici Bank Ltd. v. M/s. Jayasree Enterprises.

Case brief

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