Allowed

Hdfc Bank Ltd. v. Gangishetty Srinivasulu

DRT30 Dec 2024OA/649/2022

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed an Original Application filed by HDFC Bank Ltd. against Gangishetty Srinivasulu for the recovery of Rs. 24,56,106.56 plus future interest and costs. The defendant remained absent, and the Tribunal relied on examined documents to establish liability and directed the issuance of a Recovery Certificate.

What did the court decide?

Directed the Defendant to pay Rs. 24,56,106.56 with future interest at 10.75% p.a. simple from the date of application till realization. Issued a Recovery Certificate. Bank directed to file cost memor

Hdfc Bank Ltd. versus Gangishetty Srinivasulu — Banking and Recovery | DRT (2024)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD

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DATED THIS THE 3oth DAY OF DECEMBER, 2024

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

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Original Application No: 649 OF 2022

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

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Versus

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Gangishetty Srin ivasu lu, S/o. N4 r. Gangishetty, Age 53 Years, Occ: Business. 3-l-99/5A, Balaji, Deluxe Lodge, Tandur, Telanga na - 501141. ,..Defendant

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Counsel for the Applicant : M/s.M.V.Kini

Defenda nts

: Ex-parte

:: qLLEL ::

The Applicant Bank filed the present OA for the recovery of a sum of Rs.24,56,106.56ps as on 70.06.2022 from the defendant with future interest @ 24o/o p.a. 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 12,05.2023 as cdled absent and no representation.

'fu"tu

OA.No,549/2022

The Applicant Bank examined Sumaya^{Shaik,Legal Manager as AW-} 1 and marked OB documents through^{her as Ex. A.1 to Ex. A.8}

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Ld. Counsel for the Applicant^{Bank statedorders may be passed on} merits and^perused the material^placed on^record.

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The point that arlses 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 ln the documents viz.,^{Exs. A.1to} 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 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.649/2022^1s allowed as under:^-

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i) The Defendant is liable to pay to the Applicant Bank a sum of Rs.24,56,106.56ps as on 10.06.2022 with future interest @ 10.75olo p.a. simple, from the date of application till the date of realization;

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ii) the applicant bank is a so entitled to^proceed against the person and properties of the defendant for realization of its d ues;

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iii) the applicant bank is entitled for the costs.

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' \i\r.

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OA.No.649lZO22

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B. The Applicant Bank is directed to file^{Cost Memowithin 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 paftiesconcerned.} (Dictated to the steno., transcribed by him, corrected, signed^{and pronouncedbyme in the} open court on this the 30th day of^{December, 2024).}

¶31

PRESIDING OFFICER

Hdfc Bank Ltd. v. Gangishetty Srinivasulu

Case brief

What is this about?

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Hdfc Bank Ltd. v. Gangishetty Srinivasulu

Case brief

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What did the court decide?

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