Allowed

Hdfc Bank Ltd., v. Kollivelchi Navneetha Rao

DRT9 Oct 2024OA/644/2023

Case brief

AI extract

What is this about?

In an Original Application filed by HDFC Bank Ltd. for recovery of dues, the Tribunal held the defendant liable based on ex-parte evidence. The application was allowed, directing the defendant to pay the claimed sum with interest and costs.

What did the court decide?

The defendant is liable to pay Rs. 34,99,945.84 with future interest at 10.25% p.a. from the date of application and costs; issue of recovery certificate; proceeding against person and properties.

Hdfc Bank Ltd., versus Kollivelchi Navneetha Rao — Banking and Recovery | DRT (2024)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD

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DATED THIS THE Ogth DAY OF OCTOBER, 2024

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PRESENT: SH. RAIVIESHWAR KOTHE, B.Com., L.LB. (Hons.), M.A. PRESIDING OFFICER

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Original Application No: 644 OF 2023

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HDFC BanK Ltd., One of its Branch office at 1-10-60/3, 3rd Floor, Suryodaya Complex, Opp Shoppers Stop, Begumpet, Hyderabad - 500 016. Rep. by its Legal Manager.

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...Applicant

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Versus

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Kollivelch i Navneetha Rao, D/o.K,Gurunath Rao, Age 34 Years, Occ: Private Service, Block 8, F. No.1605, My Home Avatar, Sy.No.217 to 225 and 263 to 270, Gachibowli, Narsingi, Hyderabad, Telangana - 500089.

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Also at:-

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Kollivelchi Navneetha Rao, D/o.K.Gurunath Rao, C/o.IBM India Private Limited, HUDA Techno Enclave, Hitech City, Madhapur, Hyderabad, Telanga na - 500081.

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......Defendant

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Counsel for the Applicant : Lotus Law Associates Defend a nts ,e*-our..fux

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OA.No.644/2023

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:: ORDER ::

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The Applicant Bank filed the^present OA for the recovery of a sum of Rs.34,99,945.84ps from the defendant with future interest @ 10.25% p.a. compounded with monthly rests from the date of application till the date of realisation along with costs.

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Summon served on sole defendant through^{paper publication} and was set ex-parte on 25.06.2024 as called absent and no representation.

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The Applicant Bank examined Sumaya Shaik, Legal Manager as AW1 and marked 06 documents through her as Ex. A,1 to Ex. A.6.

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Ld. Counsel for the Applicant Bank stated orders may be passed on merlts and 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 4.6 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.644/2023 is allowed as under: - fu<"n^

U/^J'*$

OA.No.644l2023

i) The Defendant is liable to pay to the Applicant Bank a sum of Rs.34,99,945.84ps with future interest @ lO.25o/o 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 properties 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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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., transcribed by him, corrected, signed and^pronounced by me in the open court on this the 09th day of October,^2024).

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Ow*-" (ftft.,tesnwaR KorHE) PRESIDING OFFICER

Hdfc Bank Ltd., v. Kollivelchi Navneetha Rao

Case brief

What is this about?

What did the court decide?

Hdfc Bank Ltd., v. Kollivelchi Navneetha Rao

Case brief

What is this about?

What did the court decide?

What the court decided

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