Allowed

Icici Bank Limited v. Ramesh Sampat Bhalerao

DRT13 Jan 2026OA/358/2025

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed ICICI Bank Ltd.'s original application for recovery of Rs. 23,68,114 plus future interest against the respondents who failed to repay sanctioned loan facilities secured by vehicle hypothecation. The court directed the issuance of a recovery certificate.

What did the court decide?

Respondents to pay Rs. 23,68,114 with future interest at 9% simple per annum from 01.06.2025; Issuance of Recovery Certificate.

Icici Bank Limited versus Ramesh Sampat Bhalerao — Contract and Commercial Disputes | DRT (2026)

¶1

Presented on: 01.06.2025 Registered on: 19.06.2025 Decided on: 13.01.2026 Duration: Y M D 00 07 12

¶2

IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD

¶3

(Before Shri Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No.358/2025

¶4

ICICI Bank Ltd.

¶5

TOTAL CLAIM AMOUNT – Rs. 23,68,114/-

¶6

A Registered Company, Having its Registered Office at ICICI Bank Tower, Near Chakli Circle,

¶7

Old Padra Road, Vadodara, Gujarat- 390007. And having one of its Branch Office at ICICI Bank Ltd, Cherikar Prestine, Plot No. 4, Opp. LIC Office, Bhagya Nagar, Adalat Road,

¶8

… Applicant

¶9

Aurangabad- 431001. Through it’s Power of

(OA No.358-2025)

Page 1 of 10

[Ambadas]

Attorney Holder Shri. Pravin S/o Bhausaheb Gadekar, Age: 31 Years, Occ: Service, R/o: ICICI Bank Ltd, Cherikar Prestine, Plot No. 4, Opp. LIC Office, Bhagya Nagar, Adalat Road, Aurangabad- 431001. E-mail:- [email protected]

¶14

Mobile:- 7276676703.

¶15

Versus

¶16

Ramesh Sampat Bhalerao, … Defendant's

¶17

Age: 42 Years, Occ. : Business, R/o. 78, Serve No. 188, Mayur Park, Maruti Nagar, Jalgaon Road, District Aurangabad- 431001. Mobile:- 9665108384. PAN:- CMQPB0680P.

(OA No.358-2025)

Page 2 of 10

[Ambadas]

Also

R/o. Suraj Traders, H. No. 39, Naregaon, Aurangabad- 431001.

¶23

Also R/o. H. No. 191, Kolthna, District Aurangabad- 431118.

¶24

Sampat Suderlal Bhalerao, Age: 73 Years, Occ. : Business, R/o. H. No. 191, Kolthna, District Aurangabad- 431118.

¶25

Mobile:- 9764289999.

¶26

PAN:- EHZPB5642F.

¶27

APPEARANCES For the Applicant Mr. Umesh N. Shete - Advocate For Defendant Ex-parte

(OA No.358-2025)

Page 3 of 10

[Ambadas]

J U D G M E N T

Delivered on (13.01.2026)

¶33

The Applicant Bank has filed the present application for recovery of the sum of Rs. 23,68,114 (Rs. Twenty-Three Lakhs, Sixty-Eight Thousand, One Hundred Fourteen Only) together with contractual rate of interest on Credit Loan facility from 19.03.2025 till the full realization of the entire dues and costs from the Defendants.

¶34

Brief facts of the application are as under:

¶35

That the Defendants approached the Applicant Bank and requested for the sanction of a Credit Loan Facility. Upon considering the Defendant’s representation, request and financial needs, the Applicant Bank sanctioned the Credit loan Facility of Rs.23,89,931/- (Rs. Twenty-Three Lakhs, Eighty-Nine Thousand, Nine Hundred and Thirty-One Only) for Purchase and against Hypothecation of vehicle Tata LPK 2518 CRE BS-IV vide sanction letter dated 09.04.2019 and Term Loan of Rs. 4,14,000 dated 22.12.2020 on certain terms & conditions.

(OA No.358-2025)

Page 4 of 10

[Ambadas]

The agreed rate of Fixed interest for the Credit loan facility was @11.13% p.a. and @9.25% p.a. for Term Loan with monthly rests.

¶40

In order to secure the aforesaid Credit Loan facility, the Defendants executed loan documents in favour of the applicant bank namely sanction letter, demand promissory note, request letter, hypothecation agreement, letter of undertaking etc.

¶41

The applicant bank contended that to secure the Credit Loan facility, the Defendants have executed documents for Credit Loan facility, Unattested Deed of Hypothecation dated 24.04.2019, Irrevocable Power of Attorney dated 24.04.2019. Hypothecation Deed on 22.12.2020 and Guarantee Agreement dated 22.12.2020 and Hypothecated the following property in favour of the applicant bank:

¶42

Description of Hypothecated Assets:-

¶43

Tata LPK 2518 registered with the Registering Authority

(OA No.358-2025)

Page 5 of 10

[Ambadas]

with an Endorsement of Hypothecated in favour of the Applicant Bank. The vehicle registered with registration No. MH-20-EL-4909 with Engine No. 91C84872174 and

¶48

Chassis No. MAT448854KAD07460.

¶49

The applicant Bank further contended that the Defendants failed to keep their promises and commitments agreed by them with regard to the due repayment of the loan amount. The Defendants failed to operate the loan account properly and failed to pay the agreed rate of interest as per terms and conditions of the sanction letter. Thereafter the applicant bank repeatedly made demand of loan amount and called upon the Defendants to pay with the agreed rate of interest thereon, but the Defendants failed and neglected to pay the same. The loan account of the Defendants became irregular and classified as NPA 14.06.2021. Therefore, the applicant Bank issued legal notice to the Defendants through their Advocate on 27.01.2022. Despite service of Notice, the Defendants failed and neglected to repay

(OA No.358-2025)

Page 6 of 10

[Ambadas]

the outstanding dues of the applicant Bank. Hence, this application is filed.

¶54

Despite Service, the Defendants neither appeared nor filed WS. Hence, The Defendants proceeded ex-parte vide Order dated 18.12.2025.

¶55

The applicant Bank has filed Claim Affidavit of evidence at Exhibit-4 of Mr. Pravin S/o Bhausaheb Gadekar, Officer of the applicant bank and has produced on record the original loan transaction documents as per Exh. AW-1/1 to AW-1/13 alongwith List of documents Exh.5 which corroborates the case of the applicant Bank.

¶56

I have heard arguments of the learned Advocate for the applicant Bank.

¶57

Since the Defendants failed to contest the application, I find no reason to disbelieve the unrebutted evidence of the applicant Bank. Therefore, the applicant Bank is entitled for the reliefs as claimed.

(OA No.358-2025)

Page 7 of 10

[Ambadas]

The Applicant Bank has claimed contractual interest with monthly rests on loan from 19.03.2025 till the full realization of the entire dues and costs from the Defendants. However, considering the facts of the case, I am of the opinion that awarding future interest at @9% per annum (simple) on outstanding amount, it would be just and reasonable.

¶62

Hence, I pass the following order.

¶63

ORDER

¶64

(A) Original Application No. 358/2025 is allowed with costs.

¶65

(B) The Defendants shall pay Jointly and Severally to the Applicant Bank a sum of Rs. 23,68,114 (Rs. TwentyThree Lakhs, Sixty-Eight Thousand, One Hundred Fourteen Only) along-with future interest at @9% per annum (simple) from the date of filing of the Original Application, i.e., 01.06.2025, till full payment/ realization of the said amount.

(OA No.358-2025)

Page 8 of 10

[Ambadas]

(C) The aforesaid adjudicated amount is secured by Unattested Deed of Hypothecation in favour of the Applicant Bank vide document Exh.AW-1/5 in list of Documents Exh.5.

¶70

Description of Hypothecation :- Tata LPK 2518 registered with the Registering Authority with an Endorsement of Hypothecated in favour of the Applicant Bank. The vehicle registered with registration No. MH-20-EL-4909 with Engine No. 91C84872174 and Chassis No. MAT448854KAD07460.

¶71

(D) The applicant Bank is entitled to sell the hypothecated Vehicles/ articles/goods etc., to recover its dues.

¶72

(E) Issue Recovery Certificate accordingly.

(OA No.358-2025)

Page 9 of 10

[Ambadas]

(F) The Registrar is directed to send the copy of the

¶77

Judgment and Recovery Certificate to the applicant and

¶78

Defendants.

¶79

(G) File be consigned to the record room.

¶80

Sd/-

¶81

(Dr. J. R. Chauhan) Presiding Officer Debts Recovery Tribunal, Aurangabad

¶82

Place : Aurangabad Date : 13.01.2026

¶83

(OA No.358-2025)

¶84

Page 10 of 10

¶85

[Ambadas]

Icici Bank Limited v. Ramesh Sampat Bhalerao

Case brief

What is this about?

What did the court decide?

Icici Bank Limited v. Ramesh Sampat Bhalerao

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

Coram

Case details

All orders in this case

Similar cases

Punjab National Bank versus Rajendra Vishwanath Pathare

Punjab National Bank versus Vaishnavi Thibak Sinchan Upsa Sahakari Panipuravatha

Bank of Maharashtra versus Mr. Ramesh Baburao Kaduskar

Canara Bank versus M/S. Aadishree Construction

State Bank of India versus Yogesh Rohidas Mali

Maharastra Gramin Bank versus Smt.Yamunabai W/o Baban Sarode