Allowed

Icici Bank Limited. v. M/s. Global Energy.

DRT2 Sept 2026OA/97/2026

Case brief

AI extract

What is this about?

DRT-II Hyderabad allowed an Original Application by ICICI Bank Limited for recovery of Rs. 1.22 crore against M/s. Global Energy and associated defendants. The court held defendants jointly and severally liable based on evidence offered. A Recovery Certificate was issued.

What did the court decide?

Defendants jointly and severally liable to pay Rs. 1.22 crore with future interest; OA secured by mortgage of properties; Recovery Certificate issued.

Icici Bank Limited. versus M/s. Global Energy. — Contract and Commercial Disputes | DRT (2026)

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IN THE DEBTS RECOVERY TRIBUNAL.II AT HYDERABAD DATED THIS THE O2ND DAY OF SEPTEMAER,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: 97 OF 2026

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ICICI Bank Limited., ICICI Bank Towers, Financial District Plot No.01, Nanakaramguda, 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. Global Energy., Rep by its Prop: Yelineni Kranthirmaye PJo. Plot No. 711, Flat No. 203 Vanastalipuram, Kanchikacherla Krishna District - A P - 521180.

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Also at: -

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M/s. Global Energy., Rep by its Prop: Yelineni Kranthirmaye R/o. Flat No. 301, 3'd Floor, Satavahana Nagar, Sahebnagar Kalan Village Hayathnagar, Rangareddy District LB Nagar, Hyderabad - 500074.

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Also at:-

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M/s. Global Energy., Rep by its Prop: Yelineni Kranthirmaye R/o. Flat No. 504, 3d Floor, MCH No.5-3-92617 t! fo 14/504, Sai Gayathri Residency Plot^No.11 North Part Satavahana Nagar, Hayathnagar Rangareddy District, Hyderabad - 500074.

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Also at: - M/s. Global Energy., Rep by its Prop: Yelineni Kranthirmaye R/o. Flat No. 101, 1st Floor, Ramjitha Residency, Plot No. 16 and 17, Laxmareddy Pa lem, Ra n^gared O, orrr, 0., UOW;?;\ ^,

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2 oA.NO.97l2025

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Yelineni Kranthirmaye Plot No. 21, Satavahana Nagar Va nastha lipuram, Hyderabad TG-500070.

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Bobba Phani Kumar

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Plot No.21, Satavahana Nagar Vanasthalipuram, Hyderabad TG-500070.

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... Defendants

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Counsel for the Applicant : Mr. G. Adrian Kiran Raj

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Defenda nts : Ex-parte

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:: qLLE& ::

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The Applicant Bank filed the present OA for the recovery a total sum of Rs.1,22,68,403.10ps as on 03.12.2025 from the defendants^jointly and severally with future interest @24olo^p.a. with monthly rests from 03.12.2025 till the date of realization along with costs and in default for sale of OA schedule properties.

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WS of D1 to 3 not filed hence, right was forfeited and were set ex-parte on 70.07 -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 10 documents through him as Ex. A.1 to Ex. A.10.

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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 conslderation 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? fr<,n+.\ (./ 't1>:"

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oA.NO.9712026

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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.10 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 Applicant Bank with future interest and costs.

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In the result, the^present Original Application No.9712026 is allowed as under:^-

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i) The Defendants are^jointly and severally llable to pay to the Applicant Bank a sum of Rs.1,22,68,403.10ps with future interest @9olo^{p.a. simplefrom the date of application} till the date of realization;

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ii) the OA claim is secured by way of^mortgage of properties described in the^schedule annexed to the OA and the applicant^bankis 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^propertiesof defendants for realization^{of its dues;}

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iv) the applicant bank is entitled^{for the costs.}

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The Applicant Bank is directed to^file Cost^{Memo within2 weeks} from the date of receipt of this ofiet./ly/" -\rr.\ u'or*

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oA.NO,97l2026

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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 thrs the 02"d DaV of September, 2026).

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,,ryW\n , . ,^J /' // /\ _)i o.'Lva ( V -.ur*-

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(MMESHWAR KOTHE) PRESIDING OFFICER

i;,r

oA 97/26

02.09.2026 Ms. D Prasanna representing GAKR counsel for applicant submitted exparte arguments. Orders will be passed during cou rse. ' /t./ ,nY" P'o'

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02.09.2026 Orders Pronounced,^{vide separate} sheets.

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costs. Issue AYr,nu$ / t' ./^< ,{" il/ P.b.

Icici Bank Limited. v. M/s. Global Energy.

Case brief

What is this about?

What did the court decide?

Icici Bank Limited. v. M/s. Global Energy.

Case brief

What is this about?

What did the court decide?

What the court decided

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