ICICI BANK LIMITED vs Bharat Murlidhar Salunke — 823/2023

Summary: ICICI Bank Limited v. Bharat Murlidhar Salunke & Sunanda Bharat Salunke (823/2023) The court decreed the suit partially in favor of ICICI Bank. The defendants defaulted on a Kisan Credit Card (KCC) agricultural loan of Rs. 6,06,005, which the bank had duly documented and recalled via notice in January 2022. Although the defendants failed to appear, the court found the claim proven through bank records and witness testimony. However, while the bank claimed 15.20% interest, the court reduced it to 9% per annum, deeming the contract non-commercial and applying Section 34 CPC. The defendants were ordered to pay the principal amount with 9% interest from suit institution until full realization. This case analysis is maintained by casestatus.in based on publicly available court records.