Allowed

M/s. Icici Bank Limited v. Mrs. S. Swapna

DRT13 Feb 2026OA/367/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the bank's original application for recovery of a defaulted loan amount. It declared the defendants jointly and severally liable for the principal, interest, and costs, and authorized the sale of the hypothecated vehicle and attachment of other properties.

What did the court decide?

Directing payment of Rs. 26,86,830/- with future interest, authorization for sale of the hypothecated vehicle, and entitlement to attach other person and properties for realization of dues.

M/s. Icici Bank Limited versus Mrs. S. Swapna — Banking and Recovery | DRT (2026)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-II^{AT HYDEMBAD} DATED THIS THE 13TH DAY OF^{FEBRUARY,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: 367 0F 2023

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M/s. ICICI Bank Limited., Regional Office at Gachibowli Serilingampally Mandal,^Hyderabad. Rep. by its Authorized Signatory.

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Versus

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Mrs. S. Swapna, W/o. Sri G. Samu Aged about 22 Years, Occ:^Business R/o. H.No.2-238, Near Government Kalayana Mandapam, Muthukuru HW Chitoor - 517419.

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Mr. G. Samu, S/o. Sri Gunaseelan Aged about 22 Yearc, Occ: Business R/o. H. No.2-238, Near Government Kalayana Mandapam, [4uthukuru^Hw Chitoor - 517419.

¶8

Mr. Gujjala Deviprasad, S/o. Sri Gujjala Sankarappa, Aged about 26 Years Occ: Business, R/o. 17-335-1, NVR Street Mada na pa lli, Near Bus Stand Madanapa lli, Chittoor - 517325.

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.. . Defendants

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Cou nsel for the Applicant

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: Mr. S. Nagesh Reddy

Defend a nts

:Ex-parte

:: qLLLL ::

The Applicant Bank filed the present OA for the recovery a total sum of Rs.26,86,830/- as on 06.08.2022 from the defendants ' t/ Av"t"\,'

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oa.No.367l2023

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jointly and severally with future interest @24olo p.a. compounded at monthly rests from 07.0A.2022 till the date of realization a long with costs and in default for sale of hypothecated vehicle.

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Summons served on D1 and 2, whereas summons served on D3 through paper publication. They were set ex-parte on 29.07.2024 as called absent and no representation.

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The Applicant Bank examined N. Chandrasekar, Legal Manaqer, as AW-1 and marked 09 documents through him as Ex. A.1 to Ex. A.09.

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Ld. Counsel for the Applicant Bank reported orders may be passed through merits. Perused the material placed on record.

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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 hypothecated vehicle?

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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.09 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.

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In the result, the^present Original^{Application No'367/2023is} allowed as under: - NA

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oA.NO.367/2023

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The Defendants^{are jointly and severally} i) liable to^{pay to the Applicant Bank a sumof} Rs.26,86,830/-^{with future Interest @11'75olo} p.a. simple from^{the date of application till} the date^{of realization;}

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ii) the OA^{claim issecured bY way of} hypothecation^{of vehicle described in the} schedule^{annexed tothe OA and the} applicant^{bank is entitledto proceedagainst} the same to^{realise its debt;}

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iii) the^{applicant bank is also entitled to proceed} against the^{person and propertiesof} defendants^{for realization of its dues;}

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iv) the^{applicant bank is entitledfor the costs'}

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B. The Applicant^{Bank is directed to file Cost Memo within2 weeks} from the date^{of receipt of this Order'}

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Issue Recovery^{Certificate accordingly'}

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Communicate^{a copy of this order to the parties concerned'} (Dictated to the steno,^{to""tt"d'signedand pronounced by me in the open court on} this the 13th^{Day of February, 2026).}

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,r/Trlur,*a.grl (RA-MESHWAR i / "'n-^KOTHE) PRESIDING^OFFICER

M/s. Icici Bank Limited v. Mrs. S. Swapna

Case brief

What is this about?

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M/s. Icici Bank Limited v. Mrs. S. Swapna

Case brief

What is this about?

What did the court decide?

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