Allowed

Standard Chartered Bank v. Sri Padmavati Energy Solutions India Pvt. Ltd.

DRT14 Aug 2024OA/839/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an Original Application filed by Standard Chartered Bank for recovery of dues amounting to Rs. 39,90,881.64 along with future interest and costs from the respondents who remained absent.

What did the court decide?

Defendants jointly and severally liable to pay Rs. 39,90,881.64 with future interest at 9.45% p.a. simple, along with costs; recovery certificate issued to proceed against person and properties.

Standard Chartered Bank versus Sri Padmavati Energy Solutions… — Banking and Recovery | DRT (2024)

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]N THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD

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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: 839 OF 2022

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M/S.STANDARD CHARTERED BANK., 6-3- 1090, TSR Tower,

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Rajbhavan Road, Somajiguda, Khairatabad Mandal, Hyderabad-82, Rep. by its Authorized Signatory.

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...Appticant

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Versus

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Sri Padmavati Energy Solutions Pvt Ltd., Rep by its Managing Director l4r.Umesh Thakral, Office at 1011, Srisainath Complex, Kattedan

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Industrial Area, Hyderabad - 5OOO77.

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lYr.Umesh Thakral, lvlanaging Director

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Sri Padmavati Energy Solutions India Pvt Ltd., 3-6-67 /68/4r, B.N.Reddy Complex, Opp Skyline Theatre, Basheerbagh, Hydera bad - 500029.

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Mr.Shalu Tha kral, Director, Sri Padmavati Energy Solutions India Pvt Ltd., 3-6-67 /68/47, B.N.Reddy Complex, Opp Skyline Theatre, Basheerbagh, Hyderabad - 500029.

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1.4r. H iralal Thakral, Director,

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Sri Padmavati Energy Solutions India Pvt Ltd., 3-6-67 /68141, B.N.Reddy Complex,

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3i5i5*l"-tirT3..r? .Basheerbaeh' y'4K.ouo ...... Derenda nts

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OA.No.839/2022

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Counsel for the Applicant

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: Sagar & Sagar Law Offices

Defendants

:Ex-parte

:: ORDER ::

The Applicant Bank filed the^present OA for the recovery of a sum of Rs.39,90,881.64ps under Loan A/c.No.52219798 from^the defendants^jointly and severally with future interest @^77.5o/op.a. from the date of application till the date of realisation along^with costs.

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Summon served on Dl to 4. They were set ex-parte on 78.07.2023 as called absent and no representation.

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The Applicant Bank examined Rajesh Kumar Bathina, l,lanager as AW-1and 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 arlses for consideration is:-

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Whether the Applicant Bank is entitled for the claim made in the OA against the Defendants?

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As stated supra, the Defendants 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 Defendants. Hence, I hold that the Defendants are^jointly and severally liable to pay the OA claim to the Applicant Bank with future interest and costs. f, $\D --l'^{-rr^irgr-tl}

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OA.No.839/2022

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In the result, the present Original Application No,839/2022 is allowed as under: -

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i) The Defendants are jointly and severally liable to pay to the Applicant Bank a sum of Rs.39,90,881.64ps with future interest @ 9.45% 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 14th day of AuBust, 2024).

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firy**" (RAMESHWAR KOTHE) PRESIDING OFFICER

Standard Chartered Bank v. Sri Padmavati Energy Solutions India Pvt. Ltd.

Case brief

What is this about?

What did the court decide?

Standard Chartered Bank v. Sri Padmavati Energy Solutions India Pvt. Ltd.

Case brief

What is this about?

What did the court decide?

What the court decided

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