Allowed

Icici Bank Limited v. Bhagwan Das

DRT27 Jul 2026OA/993/2022

Case brief

AI extract

What is this about?

This DRT allowed an application by ICICI Bank for recovery of outstanding loan dues of Rs. 24,84,727/- along with interest and costs from the borrower and guarantor who failed to appear in ex-parte proceedings. The court directed recovery from hypothecated equipment and other assets.

What did the court decide?

Payment of Rs. 24,84,727/- with interest and costs within 30 days; recovery from sale of hypothecated equipment and other assets in case of default.

Icici Bank Limited versus Bhagwan Das — Contract and Commercial Disputes | DRT (2026)

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O.A. No.993 of 2022

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Debts Recovery Tribunal-I, Delhi 4th floor, Jeevan Tara Building, Parliament Street, New Delhi

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Presiding Officer: Shri Govind Ballabh Sharma

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O.A. No. 993 of 2022

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ICICI Bank Ltd.

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R-846, New Rajinder Nagar New Delhi-110060

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Applicant

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Versus

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Sh.Bhagwan Das s/o Kali Charan Proprietor

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M/s Chouhan Construction & Transport Co. R/o H.No.252, Subhash Colony

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Ballabgarh, Faridabad, Near Water Tanki Haryana-121004

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Also at:

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M/s Chouhan Construction & Transport Co. H.No.252, Subhash Colony Ballabgarh, Faridabad, Near Water Tanki Haryana-121004

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Ms Anita Devi w/o Raju Singh R/o H.No.252, Subhash Colony Ballabgarh, Faridabad, Near Water Tanki Haryana-121004 Defendants

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Present: Mr. Rakesh Singh, Counsel for the applicant bank

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Date of Institution: 13.072026

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Date of Pronouncement: 27.07.2026

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FINAL ORDER

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This original application has been filed by the applicant bank on 28.10.2022 through Ms. Alka Sharma, authorized representative of the applicant bank under Section 19 of Recovery of Debts and Bankruptcy Act, 1993 against the

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O.A. No.993 of 2022

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defendants for recovery of a sum of Rs.24,84,727/- (Rupees Twenty Four Lacs Eighty Four Thousand Seven Hundred Twenty Seven only) as on 04.06.2022 along with pendentelite and future interest @11.00% rate of interest till the date of its realization and costs.

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The brief facts of the case are that at the request of defendant no.1 as proprietor of M/s Chouhan Construction & Transport Co. vide loan application dated 30.07.2021, the applicant bank sanctioned Construction Equipment Loan of Rs.22,75,000/- (Rupees Twenty Two Lacs Seventy Five Thousand only) @11.00% rate of interest for purchase of "Case Backhoe Loader 770 Ex" to be repayable in 47 EMIs of Rs.60,555/- against hypothecation. The defendant no.2 stood as guarantor for the credit facility sanctioned by applicant bank in favour of defendant no.1.

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That in order to avail the loan facility, the defendant no.1 as proprietor of M/s Chouhan Construction & Transport Co. submitted loan application and executed Credit Application along with Terms & Conditions of the Loan, Unattested Deed of Hypothecation, Irrevocable Power of Attorney and Deed of Guarantee in favour of the applicant bank on 30.07.2021.

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That in order to secure the loan facility, the defendant no.1 hypothecated the "CASE BACKHOE LOADER 770 EX" having Registration No.NKJ770EXTMKH24183 in favour of applicant bank.

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It has been submitted by the applicant bank that after availing the loan facility, the defendants failed to comply with the terms and conditions despite several requests and pay the outstanding dues and monthly installments in time to the

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O.A. No.993 of 2022

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applicant bank. The applicant bank issued loan recall notice dated 11.04.2022 but neglected by the defendants. Hence, the applicant bank has approached this Tribunal for recovery of their dues.

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Notices of this O.A. were issued to the defendants and despite proper service through publication in newspapers, the defendants have chosen to absent from the proceedings. As per order dated 17.02.2026, the defendants have been proceeded ex-parte as not appeared before the Tribunal and even no written statement, evidence and affidavit of assets have been filed by the defendants.

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In order to prove its case, the applicant bank has filed its evidence by way of affidavit of Ms. Alka Sharma, authorized representative of the applicant bank who has proved the documents such as Power of Attorney Ex.AW-1/A, Credit Facility Agreement Form Ex.AW-1/B, Unattested Deed of Hypothecation Ex.AW-1/C, Irrevocable Power of Attorney Ex.AW-1/D, Deed of Guarantee Ex.AW-1/E, Recall Notice Ex.AW-1/F, Receipts Ex.AW-1/G, Certified Statement of Accounts Ex.AW-1/H.

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The applicant bank has fully corroborated the averments made in the O.A. Even otherwise the whole case of the applicant bank is based on the documents and the same have been duly proved.

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The case filed by the applicant bank gone unrebutted and there is no question of disbelieving the case of the applicant bank and the applicant bank has proved its case beyond reasonable doubts.

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O.A. No.993 of 2022

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In the light of the above discussions and documents on record, the Original Application deserves to be allowed.

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ORDER

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I, allow this OA and direct the defendants to pay to the applicant bank within a period of 30 days, jointly or severally, a sum of Rs.24,84,727/- (Rupees Twenty Four Lacs Eighty Four Thousand Seven Hundred Twenty Seven only) as on 04.06.2022 along with pendentelite and future interest @11% per annum with monthly rests and costs from 04.06.2022 till the date of its realization along with other costs, failing which the aforesaid amount shall be recovered from sale of hypothecated Commercial Equipment namely "Case Backhoe Loader 770 Ex". In case of default / shortfall, the same shall be recovered from the sale of movable and immovable assets of the defendants.

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(II) The recovery certificate be issued forthwith and be sent to the Recovery Officer, Debt Recovery Tribunal-I, Delhi.

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(III) Parties are directed to appear before the Recovery Officer, DRT I, Delhi on 25.09.2026.

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(IV) Copies of final order as well as Recovery Certificate be sent to all concerned free of cost.

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<3 e, iNr- (GOVIND BALLA 131-1 RMA) PRESIDING OFFICER DRT-I, DELHI

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(Dictated and pronounced in open court) Dated: 27.07.2026

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Icici Bank Limited v. Bhagwan Das

Case brief

What is this about?

What did the court decide?

Icici Bank Limited v. Bhagwan Das

Case brief

What is this about?

What did the court decide?

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