Allowed

Icici Bank Limited v. M/s Sree Sree Sadguru Traders

DRT27 Jul 2026OA/612/2026

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed ICICI Bank's Original Application. The court held defendants liable to pay Rs. 2.02 crore with interest, affirming security over mortgaged/hypothecated assets and authorizing the issuance of a Recovery Certificate.

What did the court decide?

Respondents to pay Rs. 2.02 crore plus interest; applicant entitled to proceed against secured properties and to recover costs; Recovery Certificate issued.

Icici Bank Limited versus M/s Sree Sree Sadguru… — Contract and Commercial Disputes | DRT (2026)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD

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DATED THIS THE 27TH DAY OF JULY, 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: 6L2 OF 2026

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ICICI BANK LIMITED Having its Regional Office at ICICI Bank Tower, Plot No. 12, Nanakramguda, Serilingampa lly, Ranga Reddy-500032, Telangana Rep by its Power of Attorney Sri Kalva Rajayaswanth ..,..Applicant

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Versus

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M/s Sree Sree Sadguru Traders Rep. by its Proprietor Sri Hulebeedu Siddappa Sy. No. 134/ 4, Parvathapuram Road, Adhoni, Kurnool District, Andhra Pradesh-518301

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Sri Hulebeedu Siddappa S/o. H. Narasappa R/o. 1 5-3468, Victoriapet Adhoni, Kurnool District, Andhra Pradesh-518301

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Smt. Hulebeedu Sharadha W/o. H. Siddappa R/o. 15-3468, Victoriapet Adhoni, Kurnool District, Andhra Pradesh-518301

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Smt. H. Siddamurthy S/o. H. Narasappa R/o. 15-478-24, Y.M.K Colony, Mahaveer Colony, Adhoni, OY.'u,

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oA.NO.612l2025

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Kurnool District, Andhra Pradesh-518301 Counsel for the Applicant : Mr. R. Rajendra Prasad Defendants : Ex-parte

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....Defendants

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:: ORDER ::

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The Applicant Bank filed the present OA for the recovery a total sum of Rs. 2,02,38,838.56 ps from defendant Nos. 1 to 4 are jointly and severally with future interest @ 24o/o p.a. with monthly rests from the date of application till the date of realization along with costs, and in default sale of sale of OA schedule moveable and immoveable assets/ property.

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Summonses served on Defendant Nos. 1 to 4 and were set exparte on 23 .07.2026 as called absent and no representation.

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The Applicant Bank examined Mr. Kalva Rajayaswanth, Area Relationship Manager, ds AW-1 and marked L2 documents through them as Ex.A.1 to Ex.A.12.

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Heard learned counsel for the applicant. 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 schedule moveable and immoveable assets/ property, M*.O

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oA.NO.612/2026

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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.12 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendants. Hence, I hold that the Defendants are 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.61212026 is allowed as under: -

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i) The Defendant Nos. 1 to 4 are jointly and severally liable to pay to the Applicant Bank a sum Rs. 2,02,38,838.56 ps with future interest @ 8.50o/o p.a. simple from the date of application till the date of realization;

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ii) the OA claim is secured by way of mortgage of property, as described in the schedule A and by way of hypothecation of assets, as described in Schedule B annexed to the OA and applicant bank is entitled to proceed against the same for realisation of dues;

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

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iv) the applicant bank is entitled for the costs. ffi,t

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oA.NO.612l2026

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B. The Applicant Bank is directed to file Cost Memo within 2 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, corrected, signed and pronounced by me in the open court on this the 27th Day of July, 20261.

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ESHWAR KOTHE) PRESIDING OFFICER

Icici Bank Limited v. M/s Sree Sree Sadguru Traders

Case brief

What is this about?

What did the court decide?

Icici Bank Limited v. M/s Sree Sree Sadguru Traders

Case brief

What is this about?

What did the court decide?

What the court decided

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Issues for consideration

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