Allowed

Hdfc Bank Ltd. v. Narendra Kumar Palacholla

DRT11 Aug 2025OA/418/2022

Case brief

AI extract

What is this about?

The Tribunal assessed an ex-parte application filed by a bank for the recovery of a loan amount. Accepting the evidence affidavit and documents marked by the applicant as sufficient to establish the claim, the Tribunal held the defendant liable to pay the dues along with interest and costs.

What did the court decide?

Defendant directed to pay Rs.33,51,419.29 with future interest @10.75% p.a. compounded monthly; applicant entitled to costs and proceedings against properties for realization.

Hdfc Bank Ltd. versus Narendra Kumar Palacholla — Contract and Commercial Disputes | DRT (2025)

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IN THE DEBTS RECOVERY^{TRIBUNAL-IIAT HYDERABAD}

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DATED THIS THE 11TH DAY OF AUGUST,²⁰²⁵

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

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Orlglnal Appllcation No: 418^OF 2022

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H DFC Ban k Ltd., One of its Branch office at 1-10-60/3, 3'd 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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Narendra Kumar Palacholla S/o. c V R Palacholla, Age 48 Years Occ: Private Service, Flat No.302 P ot No. 3-947, Siri Nivas Flat No.201 1't Floor, Road No.5, Balaji Nagar Colony Hydera bad, Telangana - 500089.

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Also at:-

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Narendra Kuma r Pa lacholla qo. f tianz Holdings Private Limited., Building No.14, Raheja Mind Space H itech City Madhapur, Hyderabad Telanqana - 500081.

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...... Defendant

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Counsel for the Applicant : M/s. Lotus Law^Associates Defendants : Ex-parte

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:: ORDER ::

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The Applicant Bank filed the^present OA for the recovery of a total sum of Rs.33,51,419.29ps from the defqndant with future^interest -\''

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OA.No.418/2022

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@10.75olo^p.a. compounded with monthly rests from the date of application till the date of realisation along with costs.

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Summon sent to sole defendant returned with e ndo rse ment Refused, hence deemed to be served and was set ex-parte on 12.09.2022 as called absent and no representation.

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The Applicant Bank examined Aditya, Legal Manager as AW-1 and marked 06 documents through her as Ex. A.1 to Ex. A.06.

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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 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 4.06 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.4I8/2022 is allowed as under: -

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i) The Defendant is liable to pay to the Applicant Bank a total sum of Rs.33,51,419.29ps with future interest @10.75olo^{p.a. simple,} froE the date of^{applicationtill} the date of realization ) /W)\f

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OA.No.418/2022

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ii) the applicant bank is also entitled to^{proceedagainst} 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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B. The Applicant Bank is^{directed to file CostMemo 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 pronouncedbyme in the} open court on this the^{11|' day of August, 2025).}

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t 'ttt"'

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.,.,.,.

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(RAMESHWAR KOTHE) PRESIDING OFFICER

Hdfc Bank Ltd. v. Narendra Kumar Palacholla

Case brief

What is this about?

What did the court decide?

Hdfc Bank Ltd. v. Narendra Kumar Palacholla

Case brief

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What did the court decide?

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