Allowed

M/s. Icici Bank Ltd. v. M/s. Laxmi Balaji Marketing.

DRT17 Aug 2026OA/305/2026

Case brief

AI extract

What is this about?

In an Original Application for recovery of debt, the Debts Recovery Tribunal allowed the claim of ICICI Bank against defendants appearing ex-parte. The court found defendants jointly and severally liable for the principal sum, future interest, and costs, securing the claim via mortgage on scheduled property.

What did the court decide?

Defendants to pay Rs.1,10,24,464.99 with future interest @9.50% p.a.; claim secured by mortgage on scheduled property; recovery certificate issued.

M/s. Icici Bank Ltd. versus M/s. Laxmi Balaji Marketing. — Banking and Recovery | DRT (2026)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD DATED THIS THE 17TH DAY OF AUGUST, 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 : 305 0F 2026

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M/s. ICICI Bank Ltd., Branch at Plot No.23, Sri Vigneshwara Chambers, Sikh Village Road, Diamond Point Secunderabad - 500009. Rep. by its Authorized Signatory.

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.....Applicant.

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Versus

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M/s. Laxmi Balaji Marketing., Flat No. 103, H.No.2-4611, Induru Kalanjali, Hasmathpet Village, Old Bowenpally, Secunderabad Hyderabad - 500011. Rep by its Proprietor.

¶8

Also at:Flat No.202, Second Floor, Nmrs Sri Sai Habitat Plot No.21lPart, Block No. 6 Jeedmetla Village, Under GHMC Quthbullapur Circle, Secunderabad - 500047.

¶9

Also at:-

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Flat No.103, 1st Floor of Induru Kalanjali Hasmathpet Village, Under GHMC Kukatpally Circle, Balanagar Mandal, Hyderabad Secunderabad - 500011.

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Mr. Vanjavaka Subramanyam S/o. Subbaramaiah, Age l4ajor Occ: Business, R/o. No. 19, Sri 14alaani Colony, Opp Warangal Raice Store New Bowenpally, Thirumalagiri Hyderabad, Secunderabad - 500011.

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Also at:-

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Flat No.103, 1't Floor of Induru Kalanjali Hasmathpet Village, Under GHMC KeKulgtpally.

¶14

oA.NO.30S/2025

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Circle, Balanagar Mandal, Hyderabad Secunderabad - 500011.

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Mrs. vanjavaka Samrajyam Wo.^{Mr. Subramanyam V, Age Major} Occ: Business, R/o. No. 19, Sri^Malaanl Colony, Opp Warangal^{Raice Store} New Bowenpally, Thirumalagiri Hyderabad, Secunderabad - 500011.

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Also at:-

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Flat No. 202, Second Floor, Nmrs Sri^Sai Habitat Plot No.21lPart, Block No. 6 leedmetla Village, Under GHMC Quthbullapur circle, Secunderabad - 500047.

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... Defendants

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Counsel for the Applicant : Mr. V. Dharmasuri Defendants :Ex-parte

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:Ex-parte

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:: ORDER ::

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The Appllcant Bank flled the^present OA^for the^{recoverya total} sum of Rs.1,10,24,464.99ps as on 14.01.2026^{from the} defendants^jointly and severally with future interest @9.6010 p.a. at monthly rests from 75.01.2026 till the date of realization along with costs and in default for sale of OA^{scheduleproperty.}

¶24

Summons served on 01 to 3 through^{paper publication. They} were set ex-parte on 37.07.2026 as called absent and^no representation.

¶25

The Applicant Bank examined Kalva^{Raiayaswanth,Area} Relationship Manager, as AW-1 and marked 19 documents through him as Ex. A.1 to Ex. A.19.

¶26

Heard the Ld. Counsel for the Applicant Bank.^Perusedthe materiat^ptaced on record.

N.r*

oA.NO.305/2025

The point that arises for consideration is:-

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Whether the Applicant Bank is entitled for the claim made in the OA against the Defendants and OA schedule 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.19 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendants. Hence, I hold that the Defendants are jointly and severally liable to pay the OA claim to the Applicant Bank with future interest and costs.

¶33

In the result, the present Original Application No.305/2026 is allowed as under: -

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i) The Defendants are jointly and severally liable to pay to the Applicant Bank a total sum of Rs.1,10 ,24,464.99ps; with future interest @9.50o/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 property 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 reatization or xt au.rfpJ*

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¶38

oA.NO.305/2025

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iv) the applicant bank is entitled 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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Issue Recovery Certificate according ly.

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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 17th Day of August, 2025).

¶43

'/W+v'r ESHWAR KOTHE) PRESIDING OFFICER

M/s. Icici Bank Ltd. v. M/s. Laxmi Balaji Marketing.

Case brief

What is this about?

What did the court decide?

M/s. Icici Bank Ltd. v. M/s. Laxmi Balaji Marketing.

Case brief

What is this about?

What did the court decide?

What the court decided

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