ICICI BANK LIMITED vs MS. ANITAA SINGH on 31 August 2019

**FINAL ORDER**

The present Application came to be registered on the basis of jurisdictional transfer and renumbered as 2TA.No.15/2017

TA.No.15/2017 under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993, seeking recovery of an amount of Rs.12,07,744/- (Rupees twelve lakh, seven thousand, seven hundred forty-four only) from the Defendant together with further interest and cost.

2. The case of the applicant bank is that Defendant had approached the applicant bank for financial assistance under the Personal Loan Scheme. The applicant bank considered her request and sanctioned Personal Loan of Rs.5,00,000/-, vide Sanction Letter dated 20.07.2007. The Defendant has executed requisite necessary documents in favour of the applicant bank for the above said loan. The defendant has agreed to repay the said loan as per the terms and conditions of the applicant bank. After availing the loan, the defendant has failed to regularize the loan account and also failed to pay the installments and did not come forward to repay the balance outstanding. Hence, the present TA is filed. The applicant bank has produced the documents in favour of its case viz., Power of Attorney, Loan 3TA.No.15/2017

Application, Credit Facility Application Form (Loan Agreement), Foreclosure Statement and Certified Accounts Extract, etc.,

3. Further the Defendant agreed to repay the above loan with variable rate of interest, as applicable from time to time as per the directions of the Head Office/Central Office of the Applicant Bank and penal interest in case of default and keep the account regular by paying installments as and when due to the satisfaction of the Applicant Bank, as detailed in the TA by the Applicant Bank.

4. The Defendant after utilizing the entire loan proceeds for the above said purpose has failed to make the repayments of the loan dues and she has not serviced the interest thereon as per the terms and conditions as agreed. The Defendant has become chronic defaulter in the loan account and not taken any steps to clear the dues and hence, the recovery process is initiated to recover the dues.

5. In the light of these factors, it is contended by the Applicant Bank that, Defendant is liable to pay a total sum of 4TA.No.15/2017

Rs.12,07,744/- (Rupees twelve lakh, seven thousand, seven hundred forty-four only).

6. After transfer of the TA, summon was sent by Post two times and returned as 'left'. Hence, summon was published and served through two leading daily newspapers. When defendant was called out, she remained absent and placed *ex-parte*.

7. To prove the case of the Applicant Bank, Mr. Pramodh. G., Manager of the Applicant Bank has filed his affidavit by way of evidence and same was considered as evidence of AW-1 and marked at Ex. A-1 and list of documents came to be marked as Ex.A-2 and 6 documents came to be marked as Ex.A-3 to Ex.A-8.

8. No evidence on behalf of the Defendant.

9. Arguments of Learned Counsel for the Plaintiff/ applicant bank heard and perused the records of the case.

10. Following points arise for my consideration:

1. 1) Whether Plaintiff/applicant bank proves its case as contended in the plaint/application?

5TA.No.15/2017

2) What order?

11. For the following reasons, I answer the above referred points in the following manner:

**REASONS**

12. Mr. Pramodh. G., Manager of the Applicant Bank came to be examined as AW-1. His affidavit by way of evidence reiterates the facts pleaded in the plaint and his affidavit is also corroborated by the above referred Ex.A-3 to Ex.A-8, which clearly establish the case of the applicant bank to allow the present TA. Added to this, inspite of paper publication in two daily newspapers, the Defendant has remained absent and hence, it is to be construed that she has admitted the entire case pleaded by the applicant bank as sought in the present TA.

13. Therefore, for these reasons, present TA is to be allowed with costs as sought by the applicant bank.

**:ORDER:**

Present TA stands allowed with costs.

6TA.No.15/2017

Defendant shall be personally liable to pay entire TA amount of Rs.12,07,744/- (Rupees twelve lakh, seven thousand, seven hundred forty-four only) with further interest at the rate of 18% p.a., from the date of application till the date of realization, as sought by the Applicant Bank in the TA.

If the TA amount is not fully realized, then the Applicant Bank is at liberty to proceed against the person and other properties of the Defendant as required under law and also as advised.

Applicant Bank shall file fresh Memo of calculation of TA amount together with interest, costs etc., to be paid by Defendant duly taking into account the amount/s if any paid by the Defendant and/or amount realized by sale of assets, etc., during the intervening period after filing the TA, to enable the office to prepare Recovery Certificate for the amount to be paid by the Defendants to the Applicant Bank.

7TA.No.15/2017

Office is directed to issue Recovery Certificate.

(Dictated to the Steno, transcribed by her and after necessary corrections, signed and pronounced by me in the Open Court on this the 31^st day of August, 2019)

**(K. RAVINDRAN NAIR)**

Presiding Officer I/c - DRT II, Bengaluru.

**ANNEXURES:**

**LIST OF WITNESSES EXAMINED ON BEHALF OF APPLICANT-BANK:**

AW.1 – Mr. Promodh. G., Manager of the Applicant Bank.

**LIST OF DOCUMENTS MARKED ON BEHALF OF APPLICANT BANK:**

Ex.A.1 : Affidavit of AW.1. Ex.A.2 : List of documents. Exs.A.3 – A.8 : 6 documents.

**LIST OF WITNESSES EXAMINED ON BEHALF OF DEFENDANT:**

- NIL -

**LIST OF DOCUMENTS MARKED ON BEHALF OF DEFENDANT:**

-NIL-

**(K. RAVINDRAN NAIR)**

Presiding Officer, I/c-DRT-II, Bengaluru.

K\*

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