Petition for- Mediation And Settlement Under Section 12A Of the Commercial Court Act 2015

Schedule 1

Form 1

Mediation Application Form

Refer to Rule 3 (1)

Before,
The Mediation Centre: District Legal Service Authority, MOTIHARI

DETAILS OF PARTIES:

1. Name of Applicant: ICICI Bank Ltd. through Authorized Person Ashish Kumar
2. Address and contact details of the applicant: Zonal office, at 2nd Floor Gulab
Palace Above Roop Alankar Jewellers Near Panch-Mukhi Hanuman Mandir,
Boring Canal Road, Pin-800001, Bihar.
Mobile No. 9693345550 / E-Mail ID –shashank.shree@icicibank.com

Name of the Opposite Party: 1. PUSHKAR RAJ (Borrower)

1. PUSHKAR RAJ Address:-S/O NANDKISHOR SINGH, VILL + PO – GAYGHAT,

PS + ANCHAL – HARSIDHI, EAST CHAMPARAN, BIHAR – 845437, Mobile-
7979745242,

2. JAYMALA DEVI (Co-Applicant) MOTHER

Address - W/O NANDKISHOR SINGH, VILL + PO – GAYGHAT, PS + ANCHAL –
HARSIDHI, EAST CHAMPARAN, BIHAR – 845437

- (Co-Applicant) -
Address - -

DETAILS OF DISPUTE:
(i) Nature of Dispute as per Section 2 (1) (c) of the Commercial Courts Act 2015 (4 of 2016)
(i) ordinary transactions of merchants, bankers, financiers and traders such as those
relating to mercantile documents, including enforcement and interpretation of such
documents.
(xiii) subscription and investment agreements pertaining to the services industry including
outsourcing services and financial services,
of Indian Commercial Courts, Commercial Division and Commercial Appellate Division
of High Courts Act, 2015 (“Commercial Courts Act”).

(ii) Quantum of claim: Rs.599468 /- with interest @ 12.55% p.a.

(iii) Territorial Jurisdiction of the Commercial Court: Commercial Court, 7.
(iv) Brief synopsis of commercial dispute:
a. That the Applicant is a registered Banking organization, incorporated under the
Companies Act, 1956 and amongst others, is dealing in the business of providing
commodity-based financing loans to its customers, through its constituted
attorneys on this behalf, the Applicant Bank, a company incorporated Under the
Companies Act, 1956 & a banking company within the meaning of the Banking
Regulation Act, 1949, having Registered Office – ICICI Bank Tower, Near
Chakli Circle, Old Padra Road, Vadodara 390007, Gujarat, Corporate Office –
ICICI Bank Towers, Bandra Kurla Complex, Mumbai, Maharashtra and Zonal
Office at 2nd Floor Gulab Palace Above Roop Alankar Jewellers Near Panch-
Mukhi Hanuman Mandir, Boring Canal Road, Pin-800001, Bihar.

b. That the Opposite Party approached the Applicant Bank for availing 7 facility. A
copy of the application form is annexed herewith as Annexure- 2.

c. That, the Applicant Bank honoured the request of the Borrower and sanctioned
the amount Rs. 500000/- as a loan. For the said purpose a loan account bearing
the number 133451000410 was created by the Applicant Bank.

d. The said loan was repayable with an interest rate applicable on the said loan
facility being 12.55% per annum. The validity period of the said loan facility was
60 Months. It is imperative to mention that the said loan facility was sanctioned to
the Opposite Party only when the Opposite Party categorically and specifically
 agreed to pay the loan dues regularly and/or punctually including the interest
accrued thereon without making any delay in any manner whatsoever.

e. The Opposite Party were also made aware of the terms and conditions to be
abided by the Opposite Party, the consequences of defaults in repayment and the
rights entrusted to the Applicant Bank in case of any event of default by the
Opposite Party as enumerated in the terms stipulated in the said application form.

f. That the Opposite Party after completing the required formalities started enjoying
the facility. That it is reiterated that the Opposite Party after utilizing the said
amount, committed default in payment of the outstanding amount as and when
due.

g. That the Applicant Bank sent repeated reminders vide notices to the Opposite
Party for the payment of the outstanding dues. The Opposite Party ignored to
discharge their liability and failed to clear the dues outstanding even after several
requests and reminders to the Opposite Party to make payment of the dues amount
but the Opposite Party deliberately neither sent any reply whatsoever nor made
any payment of the outstanding amount.

h. That in view of the repeated and continuous breach of the standard terms and
conditions and in particular non-payment of the loan/credit amount and interest,
the Applicant was compelled to recall the said loan/credit facility vide Loan
Recall Notice dated 15-May-23. By way of the said Notice, the Opposite Party
was directed to pay LRN amount a sum of Rs.533631563569/- outstanding
on the Borrower’s part. It also mentioned that the entire outstanding amount was
to be repaid within 7 days from the date of receipt of the said notice along with
the interest and all sums payable by the Opposite Party under the agreement
entered into by the two parties failing which the Applicant Bank shall be
constrained to initiate appropriate action against the Opposite Party. A copy of
the Loan Recall notice is annexed herewith as Annexure- 3.

i. That the Opposite Party was fully aware of the consequence of non-payment of
the outstanding amount against the said Loan but instead of several requests and
 reminders made by the Applicant Bank when no steps were taken by the Opposite
Party to clear the dues and hence the present suit.
j. That as of 24-Apr-24, an aggregate amount of Rs. 599468/- (7) is
outstanding on the part of the Opposite Party and the same is clearly reflected in
the Statement of Account of the Borrower. It is relevant to state here that the
Opposite Party deliberately failed and neglected to pay an outstanding amount
due to the Applicant till date thus it reflects the malafide intention of the Opposite
Party to evade the payment of the said outstanding and therefore the present
application. A copy of the Statement of Account is annexed herewith as
Annexure- 4.

k. You are therefore requested and called upon to make payment of the aforesaid
sum of. Rs. 599468/- (7)being the amount due along with 12.55% interest
p.a. on the said amount in full and final satisfaction of every claim arising from
the loan agreement and the loan facility there.

(v) Additional points of relevance: May be submitted in the hearing.

Details of Fee paid: Rs.1000/-

A fee paid by DD NO. …………………dated……………….name of Bank-

……………………………and Branch ……………………

Date: Name and

Signature of Applicant

Note: The form shall be submitted to the authority with a fee of one thousand rupees.

For office use:

Form received on:

File No. allotted:

Mode of sending notice to the opposite party:

Notice to opposite party sent on:

Whether notice acknowledged by opposite party or not:

Date of non-starter report/assignment of commercial dispute to mediator:

Petition for- Mediation And Settlement Under Section 12A Of the Commercial Court Act 2015

Schedule 1

Form 1

Mediation Application Form

ICICI Bank Ltd. ….Plaintiff

Versus

1. PUSHKAR RAJ and others

…..Defendants

Know all men by these presents, by this VAKALATNAMA that:

I, Mr. Ashish Kumarage about 43 yrs S/o Devendra Prasad posted as Manager at ICICI Bank Ltd.
Gulab Palace, 2nd and 3rd Floor, Near Panchmukhi Hanuman Mandir, East Boring Canal Road,
Patna – 800001 do hereby solemnly affirm and declare as follows:-

I/we in the aforesaid case do hereby appoint and retain

Smt. Putul Pathak and Mr. Gaurav Kumar, Advocates to appear for me/us, in the above-
mentioned case for appearing conducting and arguing the same or depositing or withdrawing
any money in connection therewith or putting in papers, petitions etc. on my/our behalf or filing
or taking back any document or withdrawing suit, appeal or application with permission to
institute fresh suit etc. and make compromise and for referring the case for arbitration an doing
all acts that may be necessary to be done in connection with the said case. I/we further say that
any act done by my/our said Advocates or any of them after accepting this Vakalatnama shall be
considered my/our true and lawful act and shall be binding on me/ us.

Date: ........day of ............ 2024.

Mr. , Advocate

Mr. , Advocate