Debts Recovery Tribunal allowed a recovery suit filed by ICICI Bank Ltd. against farmers for a loan amount of Rs. 22,89,772.03 along with future interest and costs, permitting sale of mortgaged property.
Defendants to pay Rs.22,89,772.03 plus future interest at 12% p.a. from 03.06.2021; bank can enforce agreements/attachment; order for costs issued.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE DEBTS REGOVERY TRIBUNAL - IAT HYDERABAD DATED THIS THE Ogth DAY OF FEBRUARY,2026
PRESENT: SRI cUMMAD| cOptCHAND, pREStD|NG OFFICER
OA. No. 453 OF 2025
Between:
lClCl Bank Limited, lClCl Bank Towers, Financial District, Plot No. 12, Nanakaramguda, Gachibowli, Hyderabad, Ranga Reddy District. Represented by its Authorized Signatory VERSUS
Applicant
- Mr. Madhu Kumar Reddy, S/o, Parmeshwar Reddy, Age 45 years, Occ. Farmer H.No. 1-31, Mahamadapur village & post, Pangal Mandal, Wanaparthy Viilage - SO9 120 Telangana
(oA. No. as3l202s)
Counsel for the parties :
For The Applicant G. Adrian Kiran Raj For the Defendant Exparte Reserved on 03.02.2026 Pronounced on 09.02.2026 Upload in website on 09.02.2026
ORDER
- The Applicant Bank filed the present OA against Defendants for recovery of a total sum of Rs.22,g9,772.03 ps. (Rupees Twenty Two Lakhs Eighty Nine Thousand Seven Hundred Seventy Two and paise Three Only) with future interest @24.00o/op.a with monthry rests from 03.06.2021 tiil the date of realization and in default for sale of Mortgaged property as mentioned in the Schedule property I to OA.
in the application, the Applicant Bank availed Loan facility under Kisan Loan of Rs.20,14,000/- with interest Hypothecation Deed dated Applicant Bank. The Defendants
(OA. No. 453/202s)
executed Mortgage Deed dated 15.12.2015 in favor of the Applicant Bank. After availing the loan facility, the defendants failed to comply the terms of sanction, hence the applicant bank classified the account as NpA and issued Loan Recail notice dated 27.05.2024 under section 13(2) of the SARFAEST Acl, 2002 to the defendants. lnspite of several requests and demands, the defendants did not clear the outstanding. Hence this OA.
Defendants called absent and set exparte on 03.02.2026.
Heard the Ld. Counsel for the Applicant Bank.
- The point that arise for consideration is whether the Applicant bank is entitled for the claim made in the OA against the Defendants as prayed for?
Defendants remained exparte. To substantiate the case of the Applicant Bank, AW.1 , officiat of the Appticant Bank was examined exhibited relevant documents as Ex.A.1 to A.7. In l. I hold that the Applicant Bank has in the OA against the Defendants [3 fEB
(oA. No. as3l202s)
and hence the Applicant Bank is entifled to recover the craim made in the OA with future interest and costs.
The Defendants No. 1 to 3 are jointly and severally liable to pay to the Applicant Bank a total sum of Rs.22,89,772.03 ps. (Rupees Twenty Two Lakhs Eighty Nine Thousand Seven Hundred Seventy Two and Paise Three Only) with future interest @12.00% p.a from 03.06.2021 tiil the date of realization.
9'
The Appricant Bank is entifled to proceed against the Mortgaged Propefi as mentioned in the Schedule of property I to the OA towards realization of the debt due.
The Applicant Bank is also entifled to proceed against the person and properties of defendants No. 'l to 3 towards rearization of the debt due.
That
entitled to the costs of the OA
f,f
*[
(oA. No. 4s31202s)
(Dictated-to..the p.A., transcribed by her, corrected, signed and pronounced by me in the open .ourt on this the 09rh day ot Feb,2026)
sd/(G. GOPTCHAND)
PRESIDING OFFICER
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1 issue framed by the court
Whether the bank is entitled to recover the outstanding debt claimed in the original application?
2 provisions across 2 enactments
ICICI Bank Limited
Mr. Madhu Kumar Reddy
Mrs. Puchala Padma
G. GOPTCHAND
As recorded by the court registry
2 orders share this CNR
Judgements on the same questions, provisions and authorities, from every court
