Allowed

Icici Bank Limited v. Vaka Chandra Shekar Reddy

DRT27 Jan 2026OA/845/2025

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed the original application filed by ICICI Bank Ltd. for recovery of a dues sum of Rs. 23,97,996.70 from the defendant along with future interest, costs, and a direction to proceed against the hypothecated vehicle.

What did the court decide?

Defendant ordered to pay Rs. 23,97,996.70 with interest; Bank entitled to proceed against hypothecated vehicle for debt realization and recover costs.

Icici Bank Limited versus Vaka Chandra Shekar Reddy — Banking and Recovery | DRT (2026)

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]N THE DEBTS RECOVERY TRIBUNAL-Ii AT HYDERABAD DATED THIS THE 27'II1 DAY OF JANUARY, 2026 PRESENT: SH. RAMESHWAR KoTHE, B,com., L.LB. (HonS.), M.A. PRESIDING OFFICER

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ORIGINAL APPLICATIoN No: 845 oF 2025

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ICICI Bank Ltd., ICICI Bank Tower, plot No.12 Nanakramguda, Serilingampally Rangareddy-500032, Tetanqana. Rep. by its^power of Attorn;y.

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.....Applica nt.

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Versus

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Vaka Chandra Shekar Reddy, S/o.Venkat Narasimha, Aged 33 years, Occ: Self Employed, H.No.1 90 1BO 3 A, Revenue Colony, Pragathi Nagar, Warangal-50600 1, TG.

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Also at:Vaka Chandra Shekar Reddy, S/o.Venkat Narasimha, Aged 33 years, Occ: Self Employ€d, Shop No.1, Bharadwaj Comptex Anoasilk Line, Hanmakonda Warangal - 506001, TG.

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... Defendant

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Counsel for the Applicant

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Defeddant

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: lvlr. G. Adrian Kiran Raj

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: Ex- parte

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:: ORDER ::

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The Applicant Bank filed the present OA for the recovery a total sum of Rs.23,97 ,996.7\ps as on 28.09.2025 from the defendant with future interest @240lo p.a. with monthly rests from 28.08.2025 till the date of realization along with costs and in default for sale of hypothecated venicleffiir*

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oA.NO.845/202s

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SUmmonServedonsoledefendantthroughpaperpublication and was set^{ex-parte on 22'OL'2026as called absent and no} representation.

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The Applicant^{Bank examined KRaja Yaswanth' Area} Relationship^{Manager,as AW-1 and marked 07 documents} through him^{as Ex.A.1 to Ex.A.07'}

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Heard the Ld.^{Counselfor the Applicant Bank'Perusedthe} 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 Defendant^{and OA hYPothecated} vehicle?

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As stated supra, the^{Defendant remainedex-parte' The} Evidence Affidavit^{coupledwith the recitals in the documents} viz., Exs.A.1 to A'07^{marked on behalf of the ApplicantBank} clinches the^{claimof the Applicant Bank againstthe Defendant'} Hence, I hold that the^{Defendant is liable to pay the OA claim to} the Applicant Bank^{with futureinterestand costs'}

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In the result, the^{present originalApplication ruo'd+s/zoZsls} allowed as under:^-

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i) The Defendant is liable to^{pay to the} Applicant Bank a sum of^{Rs'23,97,996.70ps} with future interest @9.15o/o^{p.a. simple from} the date of app-lication till the date^of reatization; fut*U

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oA.NO.845/2025

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ii) the OA claim is secured by way of hypothecation of vehicle described in the schedule annexed to the OA and the applicant bank is entiUed to proceed against the same to realise its debt;

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iii) the applicant bank against the person and properties of defendants for realization of its dues; iv) the applicant bank is entiUed for the costs.

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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 January, 2026).

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flw"" lnlit(esnwnR KorHE) PRESIDING OFFICER

Icici Bank Limited v. Vaka Chandra Shekar Reddy

Case brief

What is this about?

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Icici Bank Limited v. Vaka Chandra Shekar Reddy

Case brief

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