Allowed

Icici Bank Limited v. M/s. Veldi Ramesh Fruits Merchants.

DRT18 Feb 2026OA/872/2025

Case brief

AI extract

What is this about?

In an ex-parte hearing, the Tribunal allowed the Applicant Bank's Original Application for recovery of dues from multiple defendants. The Court held the respondents jointly liable to pay the principal sum, future interest, and costs, and directed the issuance of a Recovery Certificate over secured mortgage properties.

What did the court decide?

Defendants to pay Rs.4,05,11,778.38ps plus future interest; OA claim secured by mortgage properties; entitlement to costs and recovery certificate issued.

Icici Bank Limited versus M/s. Veldi Ramesh Fruits… — Contract and Commercial Disputes | DRT (2026)

¶1

IN THE DEBTS RECOVERY TRIBUNAL.II AT HYDERABAD

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DATED THIS THE 18TII DAY OF FEBRUARY, 2026

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PRESENT: SH. RAMESHWAR KOTHE, B.Com., L.LB. (Hons.), M.A.

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PRESIDING OFFICER

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ORIGINAL APPLICATION No: 872 OF 2025

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ICICI Bank Lim ited., ICICI Bank Towers, Financial District Plot No.12, Nanakaramg uda Gachibowli, Hyderabad, Ranga Reddy District. Rep. by its Authorized Signatory.

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.....Applicant

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Versus

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M/s. Veldi Ramesh Fruits [4erchants., Rep by its Proprietor Mr.Veldi Ramesh Shop No.11, Fruit Market, Laxmipuram Warangal, Telangana - 506006.

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Mr. Veldi Ramesh H, No.16-4- 1514, Shiva Nagar Near Nethaji School, Warangal Tela ngana - 506002.

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Ms. Veldi Gayathri H. No.16-4- 1514, Shiva Nagar Near Nethaji School, Wara nqal Telangana - 506002.

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Ms. Veldi Lakshmi H. No.16-4- 1514, Shiva Nagar Near Nethaji School, Wara ngal Tela ngana - 506002.

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Mr. Veldi Sarangapani H. No.16-4- 1514, Shiva Nagar Near Nethaji School, Warangal Tela ngana - 506002.

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Counsel for the Applicant

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.. , Defendants

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: Mr. G Adrian Kiran Raj

Defenda nts

: Ex-DarteN"o

oA.NO.872l2O2s

:: qLLqL ::

The Applicant Bank filed the present OA for the recovery a total sum of Rs.4,05,71,778.38ps as on 26.08.2025 from the defendants^jointly and severally with future interest @240lo p.a. with monthly rests from 30.04.20?4 till the date of realization along with costs and in default for sale of OA schedule properties.

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Summons served on D1 & 5 through paper publication, whereas Summons served on D2 to 4. They were set ex-parte on 23.01.2026 as called absent and no representation.

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The Applicant Bank examined Kalva Raja^yaswanth, Legal Manager, as AW-1 and marked 15 documents through him as Ex. A.1 to Ex. A.15.

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Heard the Ld. Counsel for the Applicant Bank.^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 properties?

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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.15 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendants. Hence, I hold that the Defendants are jointly and severally liable to pay the OA claim to the Applican!+ank with future interest and costs. %tX

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oA.NO.872l202s

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In the result, the present Original Application No.872/2025 is allowed as under: -

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i) The Defendants are jointly and severally liable to pay to the Applicant Bank a sum of Rs.4,05,11,778.38ps with future interest @8.70olo^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 properties described in the schedule annexed to the OA and the applicant bank is entitled to proceed against the same to realise its debt;

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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.

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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 18th Day of February, 2026).

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(RAMESHWAR KOTHE) PRESIDING OFFICER

Icici Bank Limited v. M/s. Veldi Ramesh Fruits Merchants.

Case brief

What is this about?

What did the court decide?

Icici Bank Limited v. M/s. Veldi Ramesh Fruits Merchants.

Case brief

What is this about?

What did the court decide?

What the court decided

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