ICICI BANK LIMITED vs M/S LADAKH FOODS LTD on 15 July 2026

FINAL ORDER

This original application has been filed by the applicant bank, on 08.09.2017 through Sh' Chetan Prakash, Authorized Representative of the applicant ban( under Section 19 of the RDB Act, 1993 against the defendants for recovery of a sum of Rs.5,09,65,697/- together with cos! charges and pendentellite and future interest @10'00o/o from date of filing of this O.A. till the realization in full'

2. Ttre brief facts of the case are that at the request of defendant no.1,'the aPPlicant bank snctioned a Shri. Rakesh Singh, Counsel appears for applicant bank. Deiendants are exparte, since, 16.10.2025' t$

TANO.789of2024 2 Financial Assistance out of ACE Resources Facility of Rs.1.42 Crore (Rs.14.2 million), vide agreement dated 20.03.2003. The defendants executed all necessary loaning documents on 20.03.2003. The defendant nos.2 to 6 are the directors and have executed personal guarantee. In terms of the loa agreements the applicant bank disbursed and the defendant no.1 has withdrawn a total amount of Rs.1.32 Crores out of the ACE resources, from time to time. 3, It is further submitted that the defendants enjoyed and utilized the Loan facilities, but failed to maintain the financial discipline and failed to repay the due amounts. The applicant bank requested the defendants to regularize the loan account by visits and letters, but there was no response from the defendants. The applicant bank served a legal notice dated 20.08.2015 to the defendants but failed to recover the same Thus, the present O.A.fl-.A. is preferred by the applicant bank to recover its dues.

4. On notice by this Tribunal, defendants failed to put appearance at all, despite publication' Accordingly, the defendants were proceeded against exparte on 16.10.2025.

5. The applicant bank has filed evidence by way of affidavit of Mr. Paramjeet Singh, Authorized Representative of the applicant bank as Paper No.41 to Paper No.119, which have gone unchallenged and un- rebutted. Hence, the case of th_e applicant stands fully -w TANO. 789 of 2024

established against the defendants with respect to nonpayment of outstanding amount.

6. After perusing the records, this Tribunal is of the view that the applicant bank has proved its case beyond reasonable doubts. The evidence and documents filed by the applicant bank not rebutted by the defendants by not placing any evidence and there is no question of disbelieving the evidence and documents fited by the applicant bank based upon the written/Pri nted docu ments. In the light of the above discussions, the present T'A' deserves to be allowed'

ORDER

1) I hereby allow this T.A. of the applicant bank and direct the defendant nos'l to 6 to pay jointly and severally to the applicant bank within 30 days from today, a sum of Rs.5,09,65,6971' along with cost' expenses and interest @10.00o/o from the date of filing of this O.A. which has become T'A till the date of realization.

2) In case of failure to deposit the above amount within the stipulated period, the same shall be recovered from the sale of personal movable and immovable assets of the defendant nos'1 to 6'

3) Recovery Certificate be issued fofthwith and be sent to Recovery Officer, Debts Recovery Tribunal-Il' Delhi. !o

TANO. 789 of 2024

4) The registry of this Tribunal is hereby directed to issue free copy of the order and send the same to both the parties.

5) Parties are directed to appear before the Ld. Recovery Officer, DRT-II, Delhion 15.09.2026. Pending IAs, if any, stand disposed of. File be consigned to records. Date : 15.07.2026 This judgement has been signed, pronounced in open couft. t**t Date : 15.07.2026 (SUSHIL KUMAR .-/-....*' ( )0 ---'- (su s H I L r[r-r"fAR Smcr I PRESIDING OFFICER DRT-II, Delhi dated and

'r1 PRESIDING OFFICER DRT-II, De|hi )