Allowed

Hdfc Bank Ltd. v. Tanneru Venkateswara Rao

DRT25 Apr 2025OA/875/2022

Case brief

AI extract

What is this about?

The DRT allowed the bank's original application for recovery of a debt claim of Rs. 24,59,584.15 from an ex-parte defendant, directing the bank to file a cost memo and issue a recovery certificate.

What did the court decide?

The defendant is liable to pay the sum of Rs. 24,59,584.15 with future interest at 10.05% p.a., costs, and the applicant bank is directed to file a cost memo within two weeks.

Hdfc Bank Ltd. versus Tanneru Venkateswara Rao — Contract and Commercial Disputes | DRT (2025)

¶1

IN THE DEBTS RECOVERY TRIBUNAL.II AT HYDERABAD DATED THIS THE 25th DAY OF APR]I, 2025

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PRESENT: SH. RAMESHWA ,*.iT$Rl'5;rt.t"fl^{' L'LB (Hons ), M A.}

¶3

Originat Application No: 875 OF 2022

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HDFC Bank Ltd., One-of its Branch office at 1_10_60/3, J^- t-toor, Suryodava Comolex_ Opp Shoppers Stop, uegumpet, Hyderabad _ 500 016. Rep by its Legal Manager.

¶5

...Appticant

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Versus

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Tanneru Venkateswara Rao. S/o.Tanneru Sivanarayana, Aged 38 Years, Occ: private Service, P.No.36, F. No.201, Ftoor 3, Ram Naresh Nagar, Beside Ramalayam Temple, Hydernagar, Kukatpally, JNTU, Hyderabad, Telanga na - SObOeS.

¶8

Also at:Tanneru Venkateswara Rao, S/o.Tanneru Sivanarayana, Aged 38 Years, Occ: private Service, C/o. Birlasoft Limited, Tower 2.1, TSI Business^park Wave Rock, Project APIIC ITIITES Hyderabad, Telanga na - 500008.

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......Defendant

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Counsel for the Applicant : M/s. Lotus Law Associates

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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.24,59,584.1ps from the defendant with future interest @ fu6e

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OA^0'87512022

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10.50o/o^{p.a. comPoundedwith monthly rests from the date of} till the^{date of realisation along withcosts'} ;;;";"

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Summon was^{set served ex-parte on sole on defendant 2.,'06'2023 through as called paper publication absentand andno} representation'

¶18

The Applicant^{Bank examinedY Nikhila' Legal Manager as AW-1and} marked04documentsthroughherasExA'ltoExA'04and examinedSumayaShaik,LegalManagerasAw-zandmarked03 documents^{through her as Ex'A 05 to Ex A 07'}

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Ld. Counsel^{for the Applicant Bank statedorders may be passed on} merits^{and perused the materialplaced on record'}

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The Point^{that arises for considerationis:-}

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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^{coupledwiththe recitals in the documents viz ' Exs'A'1 to} A.7 marked^{on behalfof the Applicant Bank clinches the claim of the} Applicant^{Bank agalnst the Defendant'Hence' Ihold that the} DefendantisliabletopaytheoAclaimtotheApplicantBankwith future^{interest and costs'}

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In the result,^{the present Original Application No'875/2022is} allowed^{as under: -}

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the Applicant^{Bank a}

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The Defendant^{is liable to PaYto}

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i) sum of^{Rs.24,59,584.1PS with} future interest^@

OA.No.875/2022

10.05o/o p.a. simple, from the date of application till the date of realization;

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ii) the applicant bank is also entiued 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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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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Issue Recovery Certificate accordingly.

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Communlcate 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 25th day of April, 2025) .

¶37

Ow"," (RAMESHWAR KOTHE) PRESIDING OFFICER

Hdfc Bank Ltd. v. Tanneru Venkateswara Rao

Case brief

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Hdfc Bank Ltd. v. Tanneru Venkateswara Rao

Case brief

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