Allowed

Icici Bank Limited v. Keshri Nandan Lohia

DRT19 Mar 2026OA/353/2023

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed an application under Section 19 of the RD and Bankruptcy Act, 1993, to recover loan dues. The court relied on evidence of defaulted loan accounts and approved the issuance of a recovery certificate against the defendant.

What did the court decide?

Recovery certificate issued for Rs. 35,98,570.17 plus interest with costs to be realized by the Recovery Officer.

Icici Bank Limited versus Keshri Nandan Lohia — Banking and Recovery | DRT (2026)

OA 353 of2023jJl

DRT, PATN A

Debts Recovery Tribunal, Patna Karpuri Thakur Sadan, Aashiana Digha Road Patna-800025

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OA Case No. 353 of 2023

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ICICI Bank Limited, at 3rd Floor, Gulab Palace, Roop Alankar Jewellery, Near Panchmukhi Mahavir Mandir, East Boring Canal Road, Patna

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Keshri Nandan Lohia, S/o Late Parshuram Lohia, Bagheshwari Road, Gulabbagh, Abdullah Nagar, Purnia, Bihar, Near Shiv Mandir, Pin code854326, PAN No. ANFPL5 1 13R

Present:

For the Applicant

For the Defendant

Shri Vijay Kumar Rana, Advocate Shri Sachindra Kr. Tiwari, Advocate : 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 13.07.2023 against the defendant to recover its debts froIn defendant of Rs.35,98,570.17 as on 06.06.2023 along with pendente-lite and future interest at the contractual rate from 07.06.2023with 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 is co-borrower of the applicant bank. The main borrower was Late Parshu Ram Lohia, who is deceased. Defendant approached the applicant bank for sanction of personal loan of Rs.30 Lakh vide loan application, which was sanctioned by the applicant bank on 17.12.2021on various terms and conditions, as stipulated in the sanction letter, which were duly accepted by the defendants. To secure the loan facilities defendant no.1 and deceased Parshuram Lohia have executed various loan and security documents.

OA 353 of20231JI

DRT, PATN A

After availing the sanctioned credit facility, the defendant became irregular in repayment of their dues as per agreed turns 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 on 03.08.2022.

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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.35,98,570.17 as on 06.06.2023 with pendente-lite and future interest contractual rate from 07.06.2023 till the realization.

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This Tribunal issued summon/notice copies of application & paper book to the defendant by registered/speed post on 19.08.2023, requiring him to show-cause within 30 days of the service U/s 19 (4) of the Act & Rule of the DRT [Procedure] Rules, 1993. But the defendant has not appeared, hence, the Registry of this Tribunal has ordered to publish the notice in newspaper and subsequently, substituted service by publication of notice by way of advertisement in newspaper was also made against the defendant on 05.12.2023 in “Dainik Jagran” newspaper.

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Despite the registered summon/notice and publication of notice in newspaper, the defendant has not appeared before this Tribunal to contest the case. The sufficient time has been given to the defendant to defend the case, but he failed to appear and to file WS, hence, the Tribunal has passed an order to proceed ex-parte against the defendant on 25.01.2024.

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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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Sl.No	Description of	1Date of	1Amount	ISignature of	1Ex./
	Documents	Execution	n	Executants	Ann
	PhotocoDies		Lakh		No

\d„.

OA 353 of 20231 Jl

DRT, PATN A

PowerofAttorne'	15.03.2018		Bank
Loanapplication	08.12.2021	30.00	Def.no.I and deceased ParshuramLohia
facility Credit application form Key factstatement and mostimportant and information aDers	16.12.2021	30.00	and Def.no.I deceased ParshuramLohia
Loan recallnotice	30.09.2022		Bank
Statementofaccount			Bank

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Heard arguments and perused the case record.

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Ld. Counsel of applicant bank submitted that the defendant no.land deceased Parshuram Lohia have taken the loan and utilized the same and also executed the 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 defendant is living and carrying on her business in the state of Bihar. Cause of action also arose in the State of Bihar. The said claim on the date of filing of application exceeded Rs.20 lacs. The applicant bank is functioning within the jurisdiction of this Tributral. 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 on 03.08.2022, whereas the present application has been filed on 13.07.2023. Even, it is counted for the purpose of Limitation, then it is established that the applicant

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Debt8 Recovery Tr:hI,nH P A r '\• 11

OA 353 of 2023jJI

DRT, PATNA

barR 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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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 fbrnished 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 an 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 eyery case where, and to the same extent as, the original entry itself is no\v 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 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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15 On perusal of the application, documents, affidavit and on consideration of the arguments, it is proved that the defendant no.1 and deceased Parshuram Lohia 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 defendant no.1 and deceased Parshuram Lohia have executed loan documents, as stated in the application and proved by aforesaid evidence. Defendant has neither denied

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OA 353 of 20231 Jl

DRT, PATNA

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 06.06.2023 has been proved to be Rs.35,98,570.17 only by way of statement of account and evidence on affidavit. There is nothing to prove the amount more than that disclosed in the aforementioned statement. As such this amount -is recoverable till hIll 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 defendant of Rs.35,98,570.17 along with pendente-lite and future interest @12% p.a. with compounded monthly rests from 13.07.2023 (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 bank is allowed and debt is determined with costs against the defendant. The defendant is hereby, ordered to pay the applicant bank its debt amounting to Rs.35,98,570.17 along with pendente-lite and future interest @ 12% p.a. with compounded monthly rests from 13.07.2023 (The date of filing of this OA) till realization of the entire sum due and recoverable with costs.

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

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Defendant is debarred from transferring, alienating encumbering or otherwise dealing with or disposing of the mortgaged 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

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{q) Presiding O©c8r t)ebtS ROCOven THbllna1 r n 1 jS+r A

OA 353 of 20231 Jl

DRT, PATNA

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 defendant, by sale of mortgaged/ hypothecated assets as well as other personal movable/immovable assets of the defendant. 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.

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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

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

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DEBTS RECOVERY TRIBUNAL PATNA 2nd Floor7 (A. B & F Wing) Karpuri Thaku Sadan1 Kendriya Karamchari Parisar (GPOA), Ashiana Digha Road, Patna800025.

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RECOVERY CERTIFICATE UNDER SECTION 19(Z) READ WITH SECTION 19(B) OF THE RECOVERY OF DEBTS & BANKRUPTCY ACT, 1993, AS AMENDED FROM TIME TO TIME.

RC No. 139/2026 IN

Case No: OA/353/2023

In the Matter of:

(CH- 1) ICICI BANK LIMITED AT 3RD FLOOR GULAB PALACE ROOP ALANKAR JEWELLERY, NEAR PANCHMUKHI MAHAVIR MANDIR, EAST BORING CANAL ROAD, PATNA ,BIHAR -800001

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Applicant(s)

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(CD- 1) KESHRI NANDAN LOHIA S/o Late Parshuram Lohia Bagheshwari Road, Gulabbagh, Abdullah Nagar. Purnia, Bihar, Near Shiv Mandir. Purnia ,BIHAR -854326

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Defendant(s)

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Recovery Certificate for Rs 3598570.17 1 Rupees Thirty Five Lakhs Ninety Eight Thousands Five Hundred Seventy And Pai;e $eventeen Only_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. 3598570.17 along with cost, expenses and interest from the 13/07/2023 i.e. date of filing / with effective date of the OA/353/2023 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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r.noilCD Name	LoanEI Wpel	Int. ype/Mode	Int. }Rate,	Effective Date	Order Date	A„„„-t(R*)L?	:::wg;d'=	Interes Date)	AmoSStR*> Rem
ANDAN ,OHIA		!Compound Interest i(Monthly )		13/07/2023;l	19/03/2026l	f359857C). 17	Fully	iAs on	1598570.17

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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 . Parties are directed to appear before ASHISH KUMAR , Recovery Officer, DEBTS RECOVERY TRiBUNAL PATN A 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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CV/ Registrar Debts Recovery Tribunal Patna

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PRESIDING OFFICER DEBTS RECOVERY TRIBUNAL PATNA eb:: ::::re :!1 6L =1 s n O () PA ,

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FORM NO. 10 [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 (GPOA), Ashiana Digha Road, Patna-800025 .

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SCHEDULE TO RECOVERY CERTIFICATE MEMO OF COSTS

RC No. 139/2026

Case No: OA/353/2023

Applicant(s): ICICI BANK LIMITED Versus

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Defendant(s): KESHRI NANDAN LOHIA

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tem ofCosts	I
Fee onthe application	m3
	[ii
AdvocateFees	ro
s t;ie:-	ro
	[0
a	m3

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Place: PATNA

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PRESIDI&(fOFFICER DEBTS RECOVERY TSn%WWA _ ++= =?;TTI ? IrInE) tn B)

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Date: 20/03/2026

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Note: Strike out whichever is not applicable

Icici Bank Limited v. Keshri Nandan Lohia

Case brief

What is this about?

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Icici Bank Limited v. Keshri Nandan Lohia

Case brief

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What did the court decide?

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