Allowed

Standard Chartered Bank v. Moula Service Station

DRT14 Aug 2024OA/838/2022

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed the original application filed by M/s Standard Chartered Bank for recovery of dues from Moula Service Station. As the defendant remained ex-parte, the tribunal held the defendant liable to pay the claimed amount with future interest and costs, and issued a recovery certificate.

What did the court decide?

Defendant to pay the requested sum with future interest and costs; recovery certificate issued.

Standard Chartered Bank versus Moula Service Station — Execution and Attachment | DRT (2024)

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IN THE DEBTS RECOVERY TRIBUNAL.II AT^HYDEMBAD DATED THIS THE 14TH DAY OF AUGUST, 2024

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

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Original Application No: 838 OF 2022

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M/S.STANDARD CHARTERED BANK., 6-3- 1090, TSR Tower, Rajbhavan Road, Somajiguda, Khairatabad Mandal, Hyderabad-82, Rep. by its Authorized Signatory.

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...Applicant

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Versus

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MOULA SERVICE STATION., Rep by its Proprietor Ivlr.Phooladikar Narsing Rao, Survey No.62, Gagan Pahad, Budwel, Rajendranagar, Ranga Reddy District - 500030.

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Also at:H. No.13-4-241/A, Sabjimandi, Karwa n, Asifnagar, Karwan Sahu, Hyderabad - 500006.

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.... .. Defendant

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Counsel for the Applicant : Sagar & Sagar Law Offices Defendants : Exparte

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::^qLLEB_::

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The Applicant Bank filed the^present OA for the recovery of a sum of Rs.2A,26,466.26ps under Loan A/c.No.52644006 from the /Y*t.sa

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OA.No.838/2022

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defendant with future interest @ l4o/o p.a. from the date of application till the date of realisation along with costs.

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Summon sent to sole defendant returned with endorsement unclaimed, hence deemed to be served and was set ex-parte on 04.07.2023 as called absent and no representation.

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The Applicant Bank examined Rajesh Kumar Bhatina, tvlanager as AW-1 and marked 05 documents through him as Ex. A.1 to Ex. A.5.

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Ld. Counsel for the Applicant Bank stated 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 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.5 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.838/2022 is allowed as under: -

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i) The Defendant is liable to pay to the Applicant Bank a sum of Rs.28,2 6,466.26ps with future interest @ 70.25o/o p.a. simple, from the date of application till the date of realization; OK*^

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oA.No.838/2022

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ii) the applicant bank is also entitled to^{proceed against} the person and^properties of the defendant^for rea lization of its dues;

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iii) the applicant bank is entitled^{for the costs.}

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R 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 Ceftificate accordingly.

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Communicate a copy of this^{order to the parties concerned,} (Dictated to the steno., transcribed by him, corrected,^{signedand pronounced by me in the} open court on this the^{14thday of August, 2024).}

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9-*'"w\ $..

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(RAMESHWAR KOTHE) PRESIDING OFFICER

Standard Chartered Bank v. Moula Service Station

Case brief

What is this about?

What did the court decide?

Standard Chartered Bank v. Moula Service Station

Case brief

What is this about?

What did the court decide?

What the court decided

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