Allowed

Icici Bank Limited v. M/s. Sri Surya Enterprises.

DRT6 Aug 2026OA/95/2026

Case brief

AI extract

What is this about?

In an original application before the DRT Hyderabad, the bank sought recovery of loans totaling Rs. 1,31,90,460/- from the defendants who remained in absentia. The bench perused the evidence affidavit. It allowed the application, declaring defendants jointly and severally liable and issuing a recovery certificate.

What did the court decide?

Defendants declared jointly and severally liable to pay Rs. 1.31 crore with interest; OA secured by mortgage; entitlement to proceed against property/person of defendants; recovery certificate issued;

Icici Bank Limited versus M/s. Sri Surya Enterprises. — Banking and Recovery | DRT (2026)

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IN THE DEBTS RECOVERY TRIBUNAL.II AT HYDERABAD

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DATED THIS THE O6TH DAY OF AUGUST,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: 95 OF 2026

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ICICI BANK LiMited., ICICI Bank Towers, Financial District Plot No.12, Na naka ramguda, 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. Sri Surya Enterprises., Rep by its Prop: Vempati Radhakrishna H.No. ll2/747 /A/1, l.4uncipal Quarters Line, Near Ganduri Cloth Store Suryapet, Telangana - 508213.

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Vempati Radha Krish na H.No. 112/747 /A/1, Muncipal Quarters Line, Near Ganduri Cloth Store Su ryapet, Telangana - 508213.

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Vempatl Bhagya^Lakshmi H.No.7/21L47/A11,^{M u ncipal} Quarters Line, Near Ganduri Cloth Store ...Defendants

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Suryapet, Telangana - 508213.

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: Mr. G. Adrian Klran^Raj Counsel for the Applicant

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Defendants : Ex- Parte

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:: O-LLLL ::

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The Applicant Bank^{filed the present OA for the recovery a total} sum of Rs.1,31,9O,460/-^{as on 09.12.2025from the defendants} jointly and severally with future interest @2470^{p awith} ,ZSn.,..r.t

L7,/gq.sE

oA.NO.9sl2026

monthly rests from 09.12.2025 tlll the date of realization along with costs and in default for sale of OA schedule property.

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2- Summons served on D1 to 3 through paper publication. They were set ex-parte on 37.07.2026 as called absent and no representation.

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The Applicant Bank examined Kalva Raja yaswanth, Legal Manager, as AW-1 and marked 16 documents through him as Ex. A.1 to Ex. A.16.

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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 enti ed for the claim made in the OA against the Defendants and OA schedule ProPerty?

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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.16 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendants. Hence, I hold that the Oefendants are joinuy and severally liable to pay the OA claim to the Applicant Bank with future interest and costs.

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In the result, the present Orig,nal Application No.95/2026 is allowed as under: -

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i) The Defendants are joinfly and severally liable to pay to the Applicant Bank a sum of Arw

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oA.NO.9sl2026

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Rs.1,31,90,460/- with future interest @10.25olo^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 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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9, 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 this the 06 ' Day of August, 2026).

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PRESIDING OFFICER

Icici Bank Limited v. M/s. Sri Surya Enterprises.

Case brief

What is this about?

What did the court decide?

Icici Bank Limited v. M/s. Sri Surya Enterprises.

Case brief

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