Allowed

Idfc First Bank Ltd. v. Javed Malik

DRT22 Apr 2025OA/454/2024

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed the applicant bank's original application for recovery of Rs. 46,74,064.03 from the defendant. The Bench, hearing the matter ex-parte due to the defendant's absence, held the claim was clinched by evidence and documents, directing issuance of a recovery certificate with adjusted interest rate.

What did the court decide?

Defendant directed to pay Rs.46,74,064.03 with future interest @12% p.a. and costs; recovery certificate issued; applicant directed to file cost memo.

Idfc First Bank Ltd. versus Javed Malik — Contract and Commercial Disputes | DRT (2025)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDEMBAD DATED THIS THE 22ND DAY OF APRIL, 2025

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

¶3

Original Application No: 454 OF 2OZ4

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IDFC First Bank Limited., Earlier M/s.Capital First Limited, Door No.6-3-354, 2nd Floor, S B Towers, Near Nagarjuna Circle, Banjara Hills Road No.1, Hyderabad-500034. Rep. by its Legal Manager.

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...Applicant

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Versus

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Javed Malik, S/o.Shamshad Malik, Aged about 45 Years, Occ: Business, Rio.11 5 1BB F No 402, Hussaini Heights, Red Hills, Khairtabad, Hyderabad - 500004.

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....., Defendant

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Counsel for the Applicant : M/s.V.Santosh Defendants : Ex-parte

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:: ORDER ::

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The Applicant Bank filed the present OA for the recovery of a sum of Rs.46,74,064.03ps as on 31.07.2024 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 and was set ex-parte on 06.02.2025 as called absent and no representation. fr''r.r .i.tc' -:-).t'

¶13

oA.No,454/2024

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The Applicant^{Bankexamined H'Deepika, Legal Manager as AW-1} and marked^{10 documentsthrough her as Ex' A'1 to Ex A 10'}

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Ld. Counsel for^{the ApplicantBank statedorders may be passed on} merlts. Perused^{the materialplacedon record'}

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The^point that arlses^{for considerationis:-}

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Whether the^{Applicant Bank is entitledfor} 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^{withthe recitals in the documents viz , Exs A l to} A.1O marked on^{behalfof the Applicant Bank clinches the clalmof} the Applicant^{Bank againstthe Defendant'Hence, I hold that the} Defendant is liable^{to pay the oA claim to the Applicant Bank with} future interest^{and costs.}

¶19

In the result,^{the present Orlginal ApplicatlonNo'45412024is} allowed as under:^-

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i) The Defendant^{is liable to pay to the Applicant Bank a} sum of Rs.46,74,064.03ps^{as on 31'07'2024with} future interest @12olo 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^{propertiesof the defendantfor} realization of its dues;

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iii) the applicant^{bank is entitledfor the costs'} ,4oy-;,,u.{2 '// '1):"

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oA.No.454/2024

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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,signedand pronounced by me in the} open court^on this^{the 22nd day of April, 2025)'}

¶27

zw-,* (RAMESHWAR KOTHE) PRESIDING OFFICER

Idfc First Bank Ltd. v. Javed Malik

Case brief

What is this about?

What did the court decide?

Idfc First Bank Ltd. v. Javed Malik

Case brief

What is this about?

What did the court decide?

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