Allowed

Icici Bank Limited v. M/s Aaradhya Traders

DRT27 Jan 2026OA/613/2024

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal, Patna allowed an ex-parte application by ICICI Bank Limited against M/s Aaradhya Traders for recovery of Rs. 27,98,942.32 along with interest, costs, and attached assets pursuant to Section 19(22) of the Act, relying on banker's book evidence.

What did the court decide?

Order allowing the application, determining the debt at Rs. 27,98,942.32 plus interest, issuing a Recovery Certificate, and attaching the respondent's mortgaged/hypothecated assets.

Icici Bank Limited versus M/s Aaradhya Traders — Money Laundering | DRT (2026)

OA 613 of 2024[JI

DRT, PATN A

Debts Recovery Tribunal, Patna

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Karpuri Thakur Sadan, Aashiana Digha Road Patna-800025

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Presiding Officer : Shri Kaushalendra Yadav

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OA Case No. 613 of 2024

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

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¶10

M/s Aaradhya Traders (Borrower), a proprietorship firm, represented through its proprietor Mr. Nawneet Kumar, R/o Ward No.13, Uttari Hajipur, Gaushala Road, Khagaria, Near Shiv Mandir, District- Khagaria, Bihar- 851204, PAN No. AXXPK9195Q

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Present:

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

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Dated:27.01.2026

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JUDGMENT

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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 26.11.2024 against the defendant to recover its debts from defendant of Rs.27,98,942.32 as on 19.10.2024 along with pendente-lite and future interest at the contractual rate from 20.10.2024 with costs till realization.

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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.

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Defendant who is an existing customer of the applicant bank, maintaining current account had logged into in Internet Banking account/iMobile Pay App on 12.03.2020 and applied for personal loan by filling up the requisite details. The defendant duly accepted the rate of interest/processing fee/final loan amkou8nt/EMI amount/repayment tenure etc as filled in and displayed on his screen and further accepted the loan terms simultaneously, by selecting the 'check box’ for applicable “terms &

DRT, PATNA

OA 613 of20241JI

conditions” and by authenticating using the ICICI Bank debit card grid numbers provided at the back of his debit card along with an OTP sent to his registered mobile number, for the purpose of availing the loan. The defendant in the manner has agreed to the terms and conditions mentioned in the loan documents on 12.03.2020, which is duly confirmed/authenticated by way of capturing his IP address 10.24.155.238 on loan documents.

¶22

The applicant bank accordingly had disbursed the personal loan of Rs.10 Lakh vide loan account no. UPKGG00041607072 into the defendant’s bank account no.163305500670, maintained with ICICI Bank Ltd., and issued a welcome letter, to his registered email id/ by post on defendant registered address.

¶23

The defendant in need of fund for his business expansion has approached the applicant bank again through digital login on 16. 11.2020 at about 12:36:14 pm and fulfilled all steps towards availing Insta OD facility by filling and submitting online loan application forms and accepting the terms and conditions for the loan including accepting the loan amount, tenure of repayment, rate of interest etc. The defendant has expressly agreed to the terms and conditions as mentioned in loan transaction documents on 16.11.2020, which was duly confirmed/authenticated by way of capturing unique IP address 47.9.194.234 on loan transactions documents. Detailed given in OA. After authentication, the loan transaction through OTP sent to the registered mobile number of the defendant, an amount of Rs.11.50 Lakh deducting loan processing fee of Rs.23,100/- to the defendant by setting an overdraft limit.

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By availing the loan facility through Internet Banking/iMobile Pay App by of the applicant bank and by accepting the terms and condition of loan online on Internet Banking/iMobile Pay App by filling up the requisite details and agreeing to applicable terms and conditions of loan transaction documents in the manner, the defendant entered into an agreement in electronic form with the applicant bank.

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After availing the sanctioned credit facilities, the defendant became irregular in repayment of their dues as per agreed terms and failed to adhere to %,

OA 613 of 2024jJI

DRT, PATNA

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 02.06.2022.

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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.

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The total liability in the loan account is Rs.27,98,942.32 as on 19.10.2024 with pendente-lite and future interest contractual rate &om 20.10.2024 till the realization.

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This Tribunal issued summons/notices copies of application & paper book to the defendant by registered/speed post on 14.12.2024. 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.

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Despite the service of registered summon/notice, 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 08.07.2025.

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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:

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of Description Documents Photocopies	of Date Execution	Amount (in	Signature Executants	of	No
Loanapplication, Credit facility applicationform, Key FactStatement & ICICIBankDirect DebitMandate along withKYCdocument	12.03.2020	noT	Defendant
Overdraft Insta facili1 aDDlication	16. 1 1.2020	11.50	Defendant

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PresIding Of-jcel TribtIDP BebU Recovel? PATNA

OA 613 of2024jJI

DRT, PATNA

form,
ICICI Bank &
Debit Direct
Mandate
Standard termsand
conditions
InstaODSchedule ofCharges
Loan recallnotice	09.05.2023
of Statement accounts

¶41

Heard arguments and perused the case record.

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

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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.

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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.

¶45

On the issue of Limitation, to prove it, the applicant bank has submitted that the applicant bank has declared the account as NPA on 02.06.2022, whereas the present application has been filed on 26.11.2024. 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.

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'%,\ n,,taRt OD'" Debts Rec:oven TdbwtaJ PATNA

OA 613 of2024jJl

DRT, PATNA

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.

¶51

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.

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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.

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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.

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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 shaH in all legal proceedings be received as prima facie evidence 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.

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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.

¶56

On perusal of the application, documents, affidavit and on consideration of the arguments, it is proved that the defendant has applied for 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 loan documents, as stated in the application and proved by aforesaid evidence. Defendant has neither denied the utilization of funds advanced by applicant bark nor has pointed out any specific error and discrepancy in the Statement of Account.

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Cel len Tribunal ATN A

OA 613 of2024jJI

DRT, 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 19.10.2024 has been proved to be Rs.27,98,942.32 only by way of statement of accounts and evidence of 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.

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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.27,98,942.32 along with pendente-lite and future interest @ 12% p.a. with compounded monthly rests from 26.11.2024 (The date of filing of this OA) till realization. So the final order may be passed accordingly, to meet the ends of justice.

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ORDER

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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.27,98,942.32 along with pendente-lite and future interest @ 12% p.a. with compounded monthly rests firom 26.11.2024 (The date of filing of this OA) till realization of the entire sum due and recoverable with costs.

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

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Defendant is debarred 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

El\

DRT, PATNA

OA 613 of20241JI

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

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Parties are directed to appear before the Recovery Officer, DRT, Patna on 09.03.2026. The order be communicated accordingly.

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Judgment signed, sealed, dated and pronounced in the open court on 27th1 day of January, 2026.

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Dictated &corrected by me.

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[KaJMndraYadav] Presiding Officer Debts Rew8b;£itBjFb#atna Debts Recovety Ttibuae PATNA

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FORM NO. 9

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DEBTS RECOVERY TRIBUNAL PATNA

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2nd FlooR (A. B & F Wing) Karpwi Thakw Sadan, Kendriya Karamchari Padsw (GPOA), Ashiana Digha Road, Patna-800025.

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[See Regulation 24(1 )]

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

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RC No. 85/2026

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IN Case No: OA/613/2024

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In the Matter of: (CH- 1) ICICI BANK LIMITED ZONAL OFFICE AT 3RD FLOOR, GULAB PALACE. NEAR PANCHMUKHI

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Applicant(s)

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HANUMAN MANDIR, EAST BORING CANAL ROAD, PATNA ,BIHAR -80000 1

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-–-- Versus –-–--

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To (CD- 1) M/S AARADHYA TRADERS A Proprietorship Firm Represented through its Proprietor Mr. Nawneet Kumar, R/o Ward No13, Uttari Hajipur, Gaushala road, Khagaria, near Shiv mandir. Khagaria ,BIHAR -851204

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Defendant(s)

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RegQvery Certifj94te hr R$ 2798942,32 [__Bgpees TWenty Seven L 4kbs Ninety_Eight Thousands Nine Hyndred FQrty Two And Paige Thirty Two oIIly_I

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In terms of final order dated 27/01/2026 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. 2798942.32 along with cost, expenses and interest from the 26/11/2024 i.e. date of filing / with effective date of the OA/613/2024 and future interest from order date till the date of realisation in full, jointly or severally from the Certificate Debtors, hereinafter referred to as:-

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	Int. e/Mode	Int. lte	IIEffective Date	Order Date		RC lount(Rs.)
M/S FIY bERS	lmpound lterest :Monthly )	12	!6/11/202	4:l27010026l2798942.32	lterest on IOrder 1IFuUy	:798942.32

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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.

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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 ASHISH KUMAR , Recovery Officer, DEBTS RECOVERY TRIBUNAL PATNA on 09/03/2026.

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

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This Certificate has been issued under my signature and seal of the Tribunal on this 06/02/2026

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r- _ '} Debts {§:gaTe rYaiT\bund Pat fIa

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L PREsiDnqG OFFICER DEBTsncovE%:WIMAp Debt, RecoveTY TdbuIta) PA'TNA

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FORM NO. 10

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[See Regulation 24(2)]

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DEBTS RECOVERY TRIBUNAL PATNA

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

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SCHEDULE TO RECOVERY CERTIFICATE MEMO OF COSTS

RC No. 85/2026

Case No: OA/613/2024

Applicant(s): ICICI BANK LIMITED Versus

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Defendant(s): M/S AARADHYA TRADERS

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temofCosts	I
mr)	m3
c	@
.dvocate Fees	ro
	@
	@
TotalCosts:Rs,	m3 = 1

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Place: PATNA

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Date: 06/02/2026

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PRESIDnMOFFICER DEBTS REcovERY TRjBPNALf FHWA

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Note: Strike out whichever is not applicable

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Job:= ===== TIll)aD

Icici Bank Limited v. M/s Aaradhya Traders

Case brief

What is this about?

What did the court decide?

Icici Bank Limited v. M/s Aaradhya Traders

Case brief

What is this about?

What did the court decide?

What the court decided

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