Allowed

State Bank of India v. Obulreddy Balarami Reddy

DRT23 Sept 2024OA/723/2023

Case brief

AI extract

What is this about?

In an original application under RBI guidelines, the Debts Recovery Tribunal adjudicated a claim by State Bank of India for recovery of a principal amount of Rs. 22,63,891 along with future interest and costs. Perusing documents where the defendant remained absent, the Tribunal held the defendant liable and allowed the recovery claim.

What did the court decide?

Defendant to pay Rs. 22,63,891 with future interest @ 12.95% p.a. simple, costs, and authorization to proceed for realization.

State Bank of India versus Obulreddy Balarami Reddy — Contract and Commercial Disputes | DRT (2024)

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IN THE^{DEBTSRECOVERY TRIBUNAL-II AT HYDEMBAD} DATED^{THIS THE 23RD DAYOF SEPTEMBER'2024}

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PRESENT: SH.^{RAMESHWAR KOTHE,B.COM.,L.LB. (HONS.), M.A.}

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PRESIDlNG OFFICER

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Original Application^{No: 723 OF 2023}

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STATE^{BANK OF INDIA} Ra ma krishn^a Pu^{ra m Branch,} Plot No.CD^{1/ 10&1/11,} Ra ma krish^na Pu^{ra m, lYargadarsl} colony,^{Kothapeta, Medchal-Malkajgirl-500035} Rep. by its^{Authorised Manager.}

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...Appticant

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Versus

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obu lreddy Balarami Reddy S/o. O.Venkata ra mi^ReddY,

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l4ajor, Occ: Employee,

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4-33-B 1, Venkateswar Nagar, Opp Govt School, lagathglri Gutta,

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l4edchal - Ma lkajg iri- 5 0 0 03 8.

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......Defendant

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Counsel for the Applicant :^{Ms.RapakaAruna} Defendants : Ex-parte

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:: :: @[l[

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The Applicant Bank filed the^present OA for the^{recovery of a sum of} Rs.22,63,8eU- from the o"r"nounffilr.li interest @^12.esolo (-!/^taso

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oa.No.?23/2023

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p.a. 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 20.02.2024 as called absent and no representation.

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The Applicant Bank examined Anil Kumar lvliryala, Manager as AW-1 and marked 06 documents through him as Ex. A.1 to Ex. A.6.

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Heard the Ld. Counsel for the Applicant Bank 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 enti ed 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.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.723/2023 is allowed as under: -

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i) The Defendant is liable to pay to the Applicant Bank a sum of Rs.22,63,891/- with future interest @ 12.95olo p.a. simple, from the date of application till the date of realization; CW"

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OA.No.723l2023

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ii) the applicant bank is also entitled to proceed against the person and properties of the defendant for

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rea lization 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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9 Issue Recovery Certificate accordingly.

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10 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 23'd day of September, 2024) .

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ESHWAR KOTHE) PRESIDING OFFICER

State Bank of India v. Obulreddy Balarami Reddy

Case brief

What is this about?

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State Bank of India v. Obulreddy Balarami Reddy

Case brief

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