Allowed

Icici Bank Limited v. Tittu Travels and Transport Agency

DRT27 Jan 2026OA/541/2025

Case brief

AI extract

What is this about?

In OA No. 541 of 2025, the DRT allowed an application by ICICI Bank to recover Rs. 62,30,895.05 plus future interest against defaulting borrowers. The court held the bank established its claim and granted a recovery certificate.

What did the court decide?

Order allowed; Defendants jointly and severally liable to pay Rs. 62,30,895.05 with future interest; Recovery Certificate issued.

Icici Bank Limited versus Tittu Travels and Transport Agency — Execution and Attachment | DRT (2026)

¶1

IN THE DEBTS RECOVERY TRIBUNAL - IAT HYDERABAD DATED THIS THE 27th DAY OF JANUARY,2026

¶2

PRESENT: SRI GUMMADI GOPICHAND, PRESIDING OFFICER

¶3

OA. No. 541OF 2025

¶4

Between :

¶5

lClCl Bank Ltd, Branch office at - lClCl Bank Ltd, Chandra Residency, 5-6-140, FCIX Road, NTPC Jyothi Nagar, Godavarikhani, Peddapally Dist - 505 209 Represented by its Manager VERSUS 1. Tittu Travels And Transport Agency, 20-4-95, Gandhi Nagar, Near Govt. Hospital, Godavarikhana, Ramagundam, Peddapally Dist - 505 209 Rep. by its Managing Partner, 2. Sri MarepalliShyam Kumar, Sio. M. Mallaiah, Aged Major, Occ Business, R/o. 20-4-95, Gandhi Nagar, Near Govt. Hospital, Godavarikhana, Ramagundam, Peddapally Dist - 505 209

¶6

Applicant

¶7

(oA. No. s41l202s)

¶8

3. Smt. Eedumuri Soujanya,
Wo.SriMarepalliShyamKumar,
AgedMajor,OccBusiness,
R/o. 20-4-95,GandhiNagar,
Near Govt. Hospital,
Godavarikhana,Ramagundam,
PeddapallyDist-505 209		Defendants
Counsel forthe^parties:
For TheApplicant	V.Dharmasuri
FortheDefendant	Exparte
Reservedon	21.01,2026
Pronouncedon	27.01.2026
Uploadinwebsiteon	27.01.2026

¶9

ORDER

¶10

The Applicant Bank filed the^{present OA against Defendants} for recovery of a total sum of^{Rs.62,30,895.05 Ps. (Rupees} Sixty Two Lakhs Thirty Thousand^{Eight Hundred Ninety} Five and Paise Five Only)^{withfuture interest} @^12.51o/op.a from 30.10.2025 till the date of realization for sale of Hypothecated Vehicles as in the le lto OA. * * 2 Lri\N ,I}76 Lr -.1 - 2 ^$

¶11

(oA. No. s41l202s)

¶12

As per the averments in the application, the Applicant Bank states that Defendant No. 1 is a Partnership Firm represented by its Managing Partner Defendants No. 2 and 3 availed credit facility of Rs.54,51,726l- and executed Stamped Supplemental Unattested Deed of Hypothecation dated 02.03.2021 dated 31.03.2018 in favor of the Applicant Bank and hypothecated vehicles morefully mentioned in Schedule I to OA. 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 Recall Notice dated 09.10.2025 and 03.01.2024 to the defendants. lnspite of several requests and demands, the defendants did not clear the outstanding. Hence this OA.

¶13

Defendants called absent and set exparte on 12.01 .2026.

¶14

Sri. Kalva Rajayaswanth, Manager of the Applicant Bank examined himself as AW.1 and exhibited relevant documents, which are marked as Ex.A.1 lo 4.12.

¶15

Heard the Ld. Counsel for the Applicant Bank.

¶16

o. for consideration is whether the Applicant e claim made in the OA against the 2 7 ,tAil 2026

¶17

(oA. No. s41l202s)

¶18

Defendants remained exparte. To^{substantiatethe case of the} Applicant Bank, AW.1 , official of the^{Applicant Bankwas} examined and he exhibited^{relevant documentsas Ex.A.1to} A.12. ln view of the above, I^{hold that the Applicant Bankhas} established their claim made in the^{OA against the Defendants} and hence the Applicant Bank is^{entitledto recover the claim} made in the OA with future^{interest and costs.}

¶19

ln the result, the^{presentOA is allowedwith costs,as under:}

¶20

The Defendants No. 1 to 3^{are jointly and severallyliable to} pay to the Applicant Bank a total sum of Rs.62,30,895.05^Ps. (Rupees Sixty Two Lakhs Thirty Thousand^{Eight Hundred} Ninety Five and Paise Five^{Only) with future interest} @ 12.51% p.a from 30.10.2025^{till the date of realization.}

¶21

¶22

The Applicant Bank^is entitled to proceed against the Hypothecated Vehicles as^mentionedin the Schedule I to the OA towards realization of^{the debt due.}

¶23

The Applicant Bank is also entitled to^proceed against^the of Defendants No. 2 and 3^and nt no. 1 Firm towards^{realizationof the} 2 I iir 7t26

¶24

(OA. No. 541/2025)

¶25

1',t. That Applicant Bank is entitled to the costs of the OA.

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The Applicant shall file a cost memo within two weeks from the date of receipt of order.

¶27

lssue Recovery Certificate accordingly.

¶28

Communicate a copy of the order to the^parties concerned.

¶29

(Dictated to the P.A., transcribed by her, mnected, signed and pronounced by me in the open court on this the 27h day of Jan, 2026)

¶30

sd/-

¶31

(G. GOPTCHAND) PRESIDING OFFICER

¶32

COPY
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Icici Bank Limited v. Tittu Travels and Transport Agency

Case brief

What is this about?

What did the court decide?

Icici Bank Limited v. Tittu Travels and Transport Agency

Case brief

What is this about?

What did the court decide?

What the court decided

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