Allowed

Hdfc Bank Ltd. v. Narisetty Bala Sreedhar

DRT30 Oct 2023OA/260/2022

Case brief

AI extract

What is this about?

In Debt Recovery Tribunal, Hyderabad, the Presiding Officer allowed a Debt Recovery Application filed by HDFC Bank Ltd. against Narisetty Bala Sreedhar for recovery of a principal sum of Rs. 43,51,695.43 with future interest at 10.50% p.a., as the defendant remained ex-parte.

What did the court decide?

Recovery of Rs. 43,51,695.43 with future interest at 10.50% p.a. and costs; issuance of Recovery Certificate.

Hdfc Bank Ltd. versus Narisetty Bala Sreedhar — Banking and Recovery | DRT (2023)

¶1

IN THE DEBTS RECOVERY TRIBUNAL.II AT HYDERABAD DATED THIS THE 3oth DAY OF OCTOBER, 2023 PRESENT: SH. RAMESHWAR KOTHE, B.Com., L.LB. (Hons.), M.A. PRESIDING OFFICER

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Original Application No: 260 OF 2022

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HDFC Bank Ltd., Having its orfice at # 1-10-60/3, 3'd Floor, Suryodaya Complex, Begumpet, Secunderabad Mandal, Hyderabad-500016. Rep. by its Authorized Signatory. .....Applicant.

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Versus

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t4r. Narisetty Bala Sreedhar, S/o. I!'taraiah, Aged: 45^years, Occ: Employee, R/o.^plot No. GD-113, Pallavi Apts., Siddartha Nagar, Ameerpet, S.R. Na9ar, Hyderabad-500038.

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Also at: C/o. TATA Consultancy Service Ltd., Special Econimic Zone, Sy. No. 255 (part), Adibatla Village, Ibrahimpatnam Mandat, Ranga Reddy District-501510.

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Also at: C/o. H. No. 11-119, Patha Reddy Palem Post, Chebrolo, Guntur-522212. ...Defendant Counsel for the Applicant : lvlr. lvl. Srinivas Reddy Defenda nt :Exparte fu.ort

oa.No,26212022

::^qLD.qR ::

The Applicant Bank filed the^{presentOA for the recoverya total} sum of Rs. 43,51,695.43ps from the defendant^{with future} interest @ 18c/o^p.a. with^quarterly interests from the^{date of} application till the date of realisation along^{with costs.}

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Summons sent to sole defendant through^{paper publication. He} was set exparte on 27.09,2022 as called absent and^no representation.

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The Applicant Bank examined M. Meenakshi, Manager-Legal, as AW-1 and marked 8 documents through her as Ex. A.1 to Ex. A.8.

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Ld. Counsel for the Applicant Bank reported orders may be passed on merits. Perused the material placed on record.

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The^point that arises for consideration is:-

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Whether the Applicant Bank is entitled for the claim made in the OA against the Defendant?

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As stated supra, the Defendant remained ex-parte. The Evidence Affidavit coupled with the recitals in the documents viz., Exs. A.1 to A.8 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendant. Hence, I hold that the Defendant is liabte to pay the OA claim to the Appticanr Bank with future interest and ,*gwo

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oa.No.262/2022

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In the result, the present Original Application No.26Ol2022 is allowed as under: -

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i) The Defendant is liable to pay to the Applicant Bank a sum of Rs. 43.51,695.43ps from the defendant with future interest @ 10.50olo simple from the date of application till the date of realization;

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ii) the applicant bank is entiued to proceed against the person and properties of defendant for realization of its dues;

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iii) the applicant bank is entiHed for the costs.

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The Applicant Bank is directed to file Cost Memo within 2 weeks from the date of receipt of this Order.

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Issue Recovery Certificate accordingly.

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Communicate a copy of this order to the parties concerned. (Dictated to the steno, corrected. signed and pronounced by me in the open court on this the 3Oh day of october,2023l.

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Ow** (hfiqEsHwAR KorHE) PRESIDlNG OFFICER

Hdfc Bank Ltd. v. Narisetty Bala Sreedhar

Case brief

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Hdfc Bank Ltd. v. Narisetty Bala Sreedhar

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