Allowed

Bank of Baroda v. Niranjan

DRT17 Oct 2024OA/159/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal at Hyderabad allowed an original application filed by Bank of Baroda against Mr. Bujjunuri Niranjan for recovery of Rs. 46,61,897.09 with future interest and costs, holding the defendant liable based on the evidence submitted, and secured the claim via hypothecation.

What did the court decide?

Recovery of Rs. 46,61,897.09 with future interest @ 11.15% p.a. simple from the date of application till realization, secured by hypothecation of vehicle, entitled to proceed against person and proper

Bank of Baroda versus Niranjan — Insolvency and Bankruptcy | DRT (2024)

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IN^{THE DEBTSRECOVERYTRIBUNAL-IIAT HYDERABAD} DATED^{THIS THE17thDAY OF OCTOBER'2024} L'LB'^{(Hons')' M'A'} pRESENT: sH'^{RAMEsHI'SS|*Fi3E|''}

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ORIGINAL^{APPLICATION No: 159 OF 2024}

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BANK^{OF BARODA} RamanthaPur^Brancn' dfikajeiri H?fl Tif Dist. nep.^{OY its Chief Manager'}

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.....APPlicant.

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Versus

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Mr.Bujjunuri^Niranjan, S/o.Mr.Narayana^Redcly, Aoe 29 Years,^{Occ: Business,} nio.Prot No.B60,^{NP 2nd Floor,} SKD Nagar,^{DPS School,} BN Reddy Nagar,^{VanastaliPuram,} Hyderabad -^500070'

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Also at:Mr. Bujjunuri^Niranjan, S/o. Mr. Narayana^Reddy, Age 29 Years, Occ:^Business, Rl o.5-14 / L, ChittePuvarigudem, Dirsencherla,^Nerucherla, Nalgonda - 508218.

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'. '^Defendant : M/s.Trivikram^Chitturu Counsel for the^APP|icant

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Defendant i Ex-parte

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:: ORDER::

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The Applicant^{Bank filed the present OA for the recoverya total} sum of Rs.46,61,897.09ps^{from the deferytf]Juture}

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oA.NO.75g/2024

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interest @ 11.15% p.a. with I rests rrom the date of apprication t,r th" d;;; ";;:"I:.tn,, with costs and in deraurt ror sare or rrpo,r,".u,ui itl;,".[.","rn

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Summons sent to sole defendi returned with endorsement

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refused hence, 0"";;; ;';"'.1t ex-parte on

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t3.oB.2o24as cared ";.";,";;;;".:;::ffi,:::

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The Applicant Bank examined Guttula Harsha Venkat Satya

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Sagar, Manager, as AW-1 and marked 10 documents through

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him as Ex.A.1 to Ex.A.10.

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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 Appticant Bank is enti ed for the claim made in the OA against the Defendant and OA hypothecated vehicle?

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As stated supra, the Defendant remained ex-parte. The Evidence Affidavlt coupled with the recitals in the documents viz., Exs.A.1 to A.10 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 Originat Application,No.15 9/2024 is allowed as under: - ft;o.^

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oA.NO.1s9l2024

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i) The Defendant is liable to^pay to^the Applicant Bank a sum of^{Rs.46,61,897.09ps} with future interest @11.15olo^{p.a' simple} from the date of application till^{the date of} realization;

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ii) the OA claim is secured bY^{way of} hypothecation of vehicle described^{in the} schedule annexed to the OA and^the applicant bank is^{entitledto proceedagainst} the same to realise^{its debt;}

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iii) the applicant bank^{is also entitled to proceed} against the^person and^propertiesof defendants for realization^{of its dues;}

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iv) the applicant bank^{is entitledfor the costs.}

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B. The Applicant Bank^{is directed to file Cost Memo within2 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 andpronounced by me in the open court on} this the 17th Day of^{october, 2024).}

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OYt""' 1{efiesHwnR^KorHE) PRESIDING OFFICER

Bank of Baroda v. Niranjan

Case brief

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What did the court decide?

Bank of Baroda v. Niranjan

Case brief

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What did the court decide?

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