Allowed

Hdfc Bank Ltd., v. Thumma Srinadh Babu

DRT12 Dec 2023OA/334/2022

Case brief

AI extract

What is this about?

In this Debts Recovery Tribunal order, the Tribunal allowed an Original Application filed by H.D.F.C. Bank Ltd against a defendant appearing ex-parte. The court held the defendant liable to pay the claimed sum along with future interest and costs based on the documentary evidence, and issued a Recovery Certificate.

What did the court decide?

Defendant liable to pay applicant Rs.44,59,318.86 with future interest and costs; Recovery Certificate issued.

Hdfc Bank Ltd., versus Thumma Srinadh Babu — Banking and Recovery | DRT (2023)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDEMBAD DATED THIS THE 12th DAY OF DECEMBER, 2023

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PRESENT: SH. RAMESHWAR KoTHE, B.com, L.LB. (Hons.), M.A. PRESIDING OFFICER

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ORIGINAL APPLICATION No.334 OF 20.22

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H.D.F.C. Bank Ltd H.No. 1-10-60/3, 3d Ftoor, Suryodaya Comptex, Opp. Shoppers Stop tsegumpet, Hyderabad-500016 Represented by its Manager-Legal Mr. Akshaya Kulkarni, S/o. K. Rama Rao Age35 years, R/o Hyderabad

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....Applicant.

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Versus

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Thumma Srinadh Babu S/o. Laxmi Narayana Age:40 years, Occ:Salaried Plot No.271 Saket Colony,phase 2, Kappa Road No.14, Secundrabad, ECIL, Hyderabad-500062

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Also at:

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Thumma Srinadh Babu C/o. Indiabulls Pharmaceuticals Limited Hyderabad Survey No, 24 25 26 FAB City, Hyderabad-501359

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....Defendant.

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Counsel for the Applicant : Mr. M.^p. Kashyap Defendants : Exparte.Exparte.

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: Exparte.Exparte.

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ORDER

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The Applicant Bank filed the present OA for the recovery of a sum of Rs.44,59,318.86ps from the defendant with interest @ 14'v<.* /,/^.-\r*.

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2 oA.NO,334/2022

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77o/o p.a. compounded^{with monthly rests from the date} of Application till the date^{of realization alongwlth costs.}

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Summons served^{on sole defendantthrough paperpublication.} He was set ex-parte on^{19.06.2023 as called absentand no} representation.

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The Applicant Bank examined^{Ms. M. Meenakshi, Legal Manager} as Aw-1 and marked 7 documents^{through him as Ex. A.1 to} Ex. A.7.

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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 Evldence Affidavit coupled with the recitals in the documents viz., Exs. 41 to A.7 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendant. Hence, I hold that the Defendant is liable to pay the OA claim to the Applicant Bank with future interest and costs.

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In the result, the present Original Application No.334/2022 is allowed as under: -

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i) The defendant is liable to pay to the Applicant Bank a sum of Rs.44,59,318.86ps ?Y,',"'

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3 oA.NO.334/2022

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with future interest @11olo p.a. simple from the date of application till the date of realization;

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ii) the applicant bank is also entitled to proceed against the person and property of the defendant for realization of its dues;

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iii) the applicant bank is entitled for the costs.

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B. 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 12th day of December, 2023).

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(RAMESHWAR KOTHE)

Hdfc Bank Ltd., v. Thumma Srinadh Babu

Case brief

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Hdfc Bank Ltd., v. Thumma Srinadh Babu

Case brief

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