Allowed

Icici Bank Limited v. Mr. Jyoti Raj

DRT25 Jun 2026OA/547/2024

Case brief

AI extract

What is this about?

An application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993, was filed by ICICI Bank Ltd. to recover a loan along with interest. The defendant failed to appear. The Tribunal allowed the application based on documentary evidence and issued a Recovery Certificate for approx. Rs. 24.67 lakhs.

What did the court decide?

Recovery Certificate issued directing realization of Rs. 24,66,692.82 plus future interest through Recovery Officer; attachment of mortgaged assets.

Icici Bank Limited versus Mr. Jyoti Raj — Banking and Recovery | DRT (2026)

OA 547 of2024jJl

Ult 1, f/\111tl

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

¶5

Presiding Officer : Shri Kaushalendra Yadav

¶6

OA Case No. 547 of 2024

¶7

ICICI Bank Limited, Zonal Office at 3rd Floor, Gulab Palace, near Panchmukhi Hanuman Mandir, East Boring Canal Road, Patna 800001

¶8

. .Applicant

¶9

¶10

Mr. Jyoti Raj (Borrower), S/o Premanand Ray, residence address- Plot No.81/400, Road No.2, Rajnabshi Nagar, Phulwari, Near Hanuman Nlandir, Patna, Bihar 800023

¶11

. . . . . . . Defendant

¶12

Present: For the Applicant Shri Prem Prakash, Advocate For the Defendant None

¶13

Dated :25.06.2026

¶14

JUDGMENT

¶15

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 29.10.2024 against the defendant to recover its debts from defendant of Rs.24,66,692.82 as on 03.10.2024 along with pendente-lite and future interest at the contractual rate from 04.10.2024 with costs till realization.

¶16

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.

¶17

Defendant approached the applicant bank for sanction of personal loan, vide loan application dated 05.08.2023 and after due consideration, the applicant bank has sanctioned Rs.24 Lakh on 23.08.2023 on various terms and conditions, as stipulated in the sanction letter, which were duly accepted by the defendant. To secure the loan facilities defendant has executed various loan and security documents in favour of the applicant bank, details of which are given in OA. The defendant digitally signed and acknowledged the terms and conditions documents

¶18

o/i_ 'h): Debts Recovery TribW181 PATNA

OA 547 of 20241 Jl

DRT, PATN A

After availing the sanctioned credit facilities, the defendant became irregular in repayment of their dues as per agreed terms 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 03.06.2024.

¶23

Since, the defendant 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.

¶24

The total liability in the loan account is Rs.24,66,692.82 as on 03.10.2024 with pendente-lite and fbture interest contractual rate from 04.10.2024 till the realization.

¶25

This Tribunal issued summon/notice copies of application & paper book to the defendant by registered/speed post on 05.12.2024, 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 09.08.2025 in “Hindustan Times” and “Prabhat Khabar” newspapers.

¶26

Despite the registered summons/notices 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 27.01.2026.

¶27

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 Vishwajeet Chauhan, Manager of the applicant bank. The details of documents are as follows:

¶28

iE!11 + 1b) L ===1: ::JII?;it!!I d PA TNA

OA 547 of 20241 Jl

DRT. PATN A

Loan aDDlication	05.08.2023	35.00
facility Credit licationForm	23.08.2023	e
Key fact statement and most important information	23.08.2023	e
All India standard	23.08.2023	e
and Terms conditions
Demandlegalnotice	12.06.2024
Loan recallM	02.09.2024
Statementofaccount

¶33

Heard arguments and perused the case record.

¶34

Ld. Counsel of applicant bank submitted that the defendant has taken the loan and utilized the same and also executed the various 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.

¶35

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.

¶36

It has been established that defendant is living and carrying on the 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 Tribunal. Therefore, this Tribunal has territorial as well as pecuniary jurisdiction to adjudicate upon the present application.

¶37

On the issue of Limitation, to prove it, the applicant bank has submitted that the applicant bank has declared the account as NPA on 03.06.2024, whereas the present application has been filed on 29.10.2024. Even, it is counted for the purpose of Limitation, then it is established that the applicant bank 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.

¶38

.,..„ ,,:\ay 'n’'' ' ** ",* e'y TribUd PATiVA

OA 547 of 20241 Jl

DRT, PATN A

Shri Vishwajeet Chauhan, 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.

¶43

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.

¶44

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.

¶45

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 furnished along with application filed under sub section 1 of section 19 by the applicant.

¶46

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 all legal proceedings be received as prima facie evidQnce of the existence of such entry, and shall be admitted as evidence of the matters, transactions and accounts therein recorded in every case where, and to the same extent as, the original entry itself is now by law admissible, but not further or otherwise.

¶47

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.

¶48

On perusal of the application, documents, affidavit and on consideration of the arguments, it is proved that the defendant has applied foI loan and the bank had sanctioned the loan and to secure the loan and for repayment of loan amount with interests etc., the defendant has executed various loan documents, as stated in the application and proved by aforesaid evidence. Defendant has neither denied the utilization of funds advanced by applicant bank nor has pointed out any specific error and discrepancy in the Statement of Account.

¶49

n V t? lz . rf Veg?Vb Debt. R. ve rtI F TrjbUrla

OA 547 of2024jJI

DRT1 PATNA

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 03.10.2024 has been proved to be Rs.24,66,692.82 only by way of statement of account as well as 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 full and final realization of the claim.

¶54

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.24,66,692.82 along with pendente-lite and future interest @ 10% p.a. with compounded monthly rests from 29.10.2024 (The date of filing of this OA) till realization. So the final order may be passed accordingly, to meet the ends of lustrce.

¶55

ORDER

¶56

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.24,66,692.82 along with pendente-lite and future interest @ 10% p.a. with compounded monthly rests from 29.10.2024 (The date of filing of this OA) till realization of the entire sum due and recoverable with costs.

¶57

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

¶58

Defendant is debaned 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 Recovery Certificate before the Registrar/Sub- Registrar to endorse the charge over the secured assets

¶59

¶60

D e b & II ;TFI;JI!IFill1:1 B)

OA 547 of2024jJl

DRT, PATN A

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. The copy of this judgment be uploaded in the website of the Tribunal.

¶65

Parties are directed to appear before the Recovery Officer, DRT, Patna on 05.08.2026. The order be communicated accordingly.

¶66

Judgment signed, sealed, dated and pronounced in the open court on 25th day of June, 2026.

¶67

Dictated &corrected by me.

¶68

[Kaushalendra Yadav] Presiding Officer Debts Recovery Tribunal, Patna PresIding Often Debts Recovery TrlbuIuJ PATNA

¶69

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

¶70

DEBTS RECOVERY TRIBUNAL PATNA 2nd Floor) (A. B & F Wing) Karpuri Thakw Sadan, Kenddya Karamchad Parisar (GPOA), Ashiana Digha Road, Patna800025.

¶71

RECOVERY CERTIFICATE UNDER SECTION 19(2) READ WITH SECTION 19@) OF THE RECOVERY OF DEBTS & BANKRUPTCY ACT, 1993, AS AMENDED FROM TIME TO TIME.

¶72

RC No, 180/2026

¶73

Hq Case No: OA/547/2024

¶74

In the Matter of:

¶75

(CH- 1) ICICI BANK LIMITED

¶76

ZONAL OFFICE AT 3RD FLOOR, GULAB PALACE. NEAR PANCHMUKHI HANUMAN MANDIR, EAST BORING CANAL ROAD, PATNA ,BIHAR -800001

Applicant(s)

--–Versus –----

(CD- 1) MR. rYOTI RAJ . S/o-Premanand Ray Residence Address- PLOT NO. - 81/400, ROAD NO. - 02 Rajnabshi Nagar, Phulwari, Near Hanuman b4andir, Patna ,BIHAR -800023

¶81

Defendant(s)

¶82

RegQvery C'ertificate for Rs 2466692,$2 [ Rupee; Twenty FQyr Lakh$ Sixty Six ThQH SandI Six Hundred Ninety Two And Paige EigUy TwQ Only_]

¶83

In terms of final order dated 25/06/2026 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. 2466692.82 along with cost, expenses and interest from the 29/10/2024 i.e. date of filing / with efFective date of the OA/547/2024 and future interest from order date till the date of realisation in full, jointly or severally from the Certificate Debtors, hereinafter referred to as:-

¶84

Sr.no	CD Name	iLoan }Type	Int. 1)'pe/Mode	Int. Rate	Effective Date	Order Date	Lmountak	Interest -)?),i=bygdC Date)	;Amoit(Rs.) ^Remark
	JY6TI RAJ		Interest (Monthly)	10	:9/10/2024	5/06/2026	!466692.82	'Interest ;Fully :::dTI Date	:466692.82

¶85

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.

¶86

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 MANOJ KUMAR , Recovery Officer, DEBTS RECOVERY TRIBUNAL PATNA on 05/08/2026.

¶87

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 Act2 1993 (as amended from time to time) from the above named Certificate Debtors.

¶88

This Certificate has been issued under my signature and seal of the Tribunal on this 02/07/2026

¶89

PRESIDING OFFICER DEBTS RECOVERY TRIBUNAL PATNA

¶90

Registrar

¶91

rIBa aRt OII." DebtB Recovery Tribwl& PATNA

¶92

D e b 1 S ;F=7!11; • !tT::IT:i; a i Il a ;ITT I-&T-) ] iFp-rF

¶93

FORM NO. 10

¶94

[See Regulation 24(2)]

¶95

DEBTS RECOVERY TRIBUNAL PATNA

¶96

2nd Floor, (A. B & F Wing) Karpuri Thakur Sadan, Kendriya Karamchari Padsar (GPOA), Ashiana Digha Road, Patna-800025 .

¶97

SCHEDULE TO RECOVERY CERTIFICATE MEMO OF COSTS

¶98

RC No. 180/2026 IN

¶99

Case No: OA/547/2024

¶100

Applicant(s): ICICI BANK LIMITED Versus

¶101

Defendant(s): MR. JYOTI RAJ

¶102

ItemofCosts	iAmount inRs
Feeontheapplication	:27000
;rd&is FieJ(IIIi.P-ibli-&ati8nj	[0
AdvocateFees	b
Commissioner/Receiv-ir/Valuation/Security%	;0
MiscellaneousCharges	iO
iotaCosts:Rs	md

Place: PATNA

PRESIDI&#IJFFICER

Date: 02/07/2026

Note: Strike out whichever is not applicable

¶107

DEBTS RECOVERY TRIBUNAL PATNA

¶108

P?estdiag Often Debts Recovel:F TdbuMI PATNA

Icici Bank Limited v. Mr. Jyoti Raj

Case brief

What is this about?

What did the court decide?

Icici Bank Limited v. Mr. Jyoti Raj

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

Similar cases

Hdfc Bank versus Bhajan Singh

Canara Bank versus P Padmanabhan

Uco Bank versus Mr Abdul Rouf And Anr.

M/S Mahavir Food Products versus Uco Bank

State Bank of India versus Ms Pappu and Dipu Aloo Co.

Central Bank of India versus M/s Royal Metal