The Tribunal allowed the bank's Original Application to recover Rs. 39,70,092.97 plus interest from defendants jointly and severally, utilizing hypothecated vehicles as security.
Defendants jointly and severally liable to pay Rs. 39,70,092.97 plus future interest; bank entitled against hypothecated vehicles and properties for dues.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDEMBAD DATED THIS THE 29th DAY OF AUGUST, 2023
PRESENT: SH. RAMESHWAR KOTHE, B.Com, L.LB. (Hons.), t4.A. PRESIDING OFFICER
Original Application NO: L2 OF 2022
Kotak Mahindra Bank Ltd., Branch Office at * 6-3- 7LO9l tlp / 3O2, 3rc Floor, Jewelpavani Towers, Rajbhavan Road, Somajiguda, Hyderabad-50OOg2. Rep. by its Manager-Legal.
.....Applicant
Versus
.....Defendants
Counsel for the Applicant : Mr. M. Srinivas Reddy
Defendants
: Exparte
,Zg*n-.
(/ {,n1"
OA No.L2l2O22
:: ORDER::
Legal, as AW-1 and marked 15 documents through him as Ex.
A.1 to Ex. A.15.
Whether the Applicant Bank is enti ed for the claim made in the OA against the Defendants and hypothecated vehicles?
3
OA No.12l2022
to pay the OA claim to the Applicant Bank with future interest and costs.
ffo*,'*
PRESIDING OFFICER
1 issue framed by the court
Whether the applicant bank is entitled for the claim made in the OA against the Defendants and hypothecated vehicles.
Kotak Mahindra Bank Ltd.
Mrs. P Bhagyalaxmi
Mr. Dashananda Reddy
Rameshwar Kothé
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
