Allowed

Icici Bank Limited v. M/s Sree Parameshwara and Co.

DRT11 Jun 2026OA/764/2025

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an Original Application filed by ICICI Bank Limited against four defendants. Being satisfied with the evidence affidavit and documents marked by the bank after being ex parte, the Tribunal held the defendants liable to pay the claimed amount along with future interest and costs. An order for recovery was issued.

What did the court decide?

Defendants jointly and severally liable to pay Rs. 4,76,28,779.40 with future interest; Applicant entitled to proceed against secured assets, person, and properties for realization; Cost Memo to be fi

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

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD DATED THIS THE 11th DAY OF JUNE, 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 : 764 0F 2025

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ICICI BANK LIMITED Having its registered office At Landmark, Race Course Circle, Vadodara, Gujarat, India- 390 007 And its corporate office at ICICI Bank Towers, Bandra Kurla Complex, Mumbai, India- 400051 And its regional office at Nanakramguda, R.R. District, Telangana.

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Applicant

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Versus

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1. M/s Sree Parameshwara and Co Rep. by its Partners Sri. Tadakamadla Avinash & T, Annapurna H.No. 1-1-1 16/7, Opposite Balaji Theatre, Siddipet, Telangana - 502103

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1. Sri. Tadakamadla Avinash S/o. Late Vera Prasad Aged about 35 years R/o. H.NO.7-3-61/L, Siddipet, Siddipet, Telangana - 502103

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1. Smt. T. Annapurna W/o. Late Vera Prasad Aged about 61 years R/o. H,NO.7-3-6t/1, Siddipet, Siddipet, Telangana - 502103

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1. Sri. Ajay Tadakamadla W/o. Late Vera Prasad

(-/ //Yy,vu\\ ''l

oA.NO.76412025

.... Defendants

Aoed about³⁹ Years n/o. H.No.7-3-61l^{1, SiddiPet'} Telangana^{- 502103}

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: Mr.^{R. Rajendra Prasad} Counsel^{for the APPlicant} : Ex-Parte Counsel^{for the Defenda nts}

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:: ORDER^::

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1, The Applicant^{Bank filed the present OA for the recovery a total} sum of^{Rs. 4,76,28,f7g40 ps as on 08 07 2025 ie 'Rs'} 3,gg,45,776.40^{ps towards Account No 004005026218and Rs} $,IZ,SOZ/-^{towards Account No U PHYD0OO4644B040from} Defendants^{1to 4 jointly and severallywith future interest} @24olo^{with monthly rests from the date of applicationtill the} date of^{realization along withcostsand' in default' sale of O A'} Schedule^{moveable and immoveableassets/properties'}

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Summon^{served on DefendantNos l to 4 and were set exparte} on 06.11.2025^{as called absentand no representation'}

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The Applicant^{Bank examinedMr' Kalva Rajayaswanth'Area} Relationship^{Manager,as AW-1 and marked 23 documents} through^{himas Ex'A'1to Ex'A 23'}

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HeardLearnedCounselfortheApplicant.Perusedthematerial placed on record'

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oA.NO.764l202s

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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 O.A. Schedule moveable and immoveable assets/propefties?

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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.23 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.764/2025 is

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allowed as under: -

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i) The Defendant Nos. 1 to 4 joinuy and severally are liable to pay to the Applicant Bank a sum Rs. 4,f6,28,779.40 ps with future interest @15.50% simple from the date of application till the date of realization;

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

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oA.NO.754/2025

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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 entitledfor the costs'}

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B. The Applicant^{Bank is directed to file Cost Memo within2 weeks} from the^{date of receipt of this Order'}

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a Issue Recovery^{Certificate accordingly'}

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Communicate^{a copy of this order to the parties concerned'}

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(Dictated to the steno,^{corrected,signed andpronounced by mein the open court on} ffiff;r;o,v"rj'"",zozs\ tr)ffi5lSA

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(Rh#SHWAR^KOTHE) PRESIDING^OFFICER

Icici Bank Limited v. M/s Sree Parameshwara and Co.

Case brief

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Icici Bank Limited v. M/s Sree Parameshwara and Co.

Case brief

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