Allowed

Yes Bank v. Dandugula Raju

DRT21 Sept 2023OA/235/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the Applicant Bank's Original Application against two defendants. Being ex-parte, the Tribunal held the affidavit and documents clinched the claim. The defendants were declared jointly and severally liable to pay the claimed sum with future interest and costs, and the bank was entitled to proceed against the hypothecated vehicle.

What did the court decide?

Defendants jointly and severally liable to pay Rs. 42,34,439.58 with interest; bank entitled to proceed against hypothecated vehicle and properties.

Yes Bank versus Dandugula Raju — Banking and Recovery | DRT (2023)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-II^{AT HYDERABAD} DATED THIS THE 215t DAY OF SEPTEMBER,²⁰²³

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PRESENT: SH. RAI4ESHWAR KOTHE, B.Com.,^{L.LB. (Hons.), M.A.} PRESIDING OFFICER

¶3

Original Application No: 235 OF 2022

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Yes bank Limited, Office at # 1-8-387, 3d floor, Agravanshi Plaza, HUDA Lane, S.P. Road, Secunderabad-500003. Rep. by its Authorized Signatory.

¶5

.....Applicant.

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Versus

¶7

Mr. Dandugula Raju S/o. Anjaiah, Aged: 39 Years, Occ: Business, R/o, H.No. 2-23-26lLA, Plot No. 11, Near Peddamma Temple, Chilukangar,Uppal, Ranga Reddy District-500039.

¶8

Also at: Mr. Dandugula Raju, R/o. H.No. 5-63, Ankireddygudem Village, Choutuppal Mandal, Yadadri District-508252.

¶9

Mrs. Dandugula Sunitha, w/o. Raju, Aged: 36 Years, Occ: Housewife, R/o. H. No. 2-23-26/1.A, Plot No.11, Near Peddamma Temple, Chllukanagar,Uppal, Ranga Reddy District-500039.fu."-t

¶10

oA.NO.235/2022

¶11

Also at: Mrs. Dandugula Sunitha, R/o. H.No.5-63, Ankireddygudem Village, Choutuppal Mandal, Yadadri District-508252. ... Defendants Counsel for the Applicant : Mr. M. Srinivas Reddy Defendants

¶12

: Exparte

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:: ORDER::

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The Applicant Bank filed the present OA for the recovery a total sum of Rs.42,34,439.58ps from the defendants joinuy and severally with future interest @ 18olo p.a. compounded with monthly rests frcm 2O.O7.2O22 till the date of realisation along with costs and in default for sale of OA hypothecated vehicle.

¶15

Summons served on Dl & 2. They were set exparte on O2.O9.2022 as called absent and no representation.

¶16

The Applicant Bank examined D Shyam Kumar Reddy, Asst. Vice President, as AW-1 and marked g documents through him as Ex. A.1 to Ex. A.8.

¶17

Ld. Counsel for the Applicant Bank reported orders may be passed on merits. perused the material placed on record.

¶18

The point that arises for consideration is:-

¶19

Whether the Applicant Bank is entided for the claim made in the OA against vehicte? the Defendants and OA hypothecated

trfr:r.a

oA.NO.235/2022

As stated^{supra,the Defendantsremainedex-parte'The} Evidence^{Affidavitcoupled'vith the recitals in the documents} viz., Exs.^{A.1 to A 8 markedon behalfof the ApplicantBank} clinches^{the clalm of the ApplicantBankagainst the Defendants'} Hence, I^{hold that the Defendants are jointly and severallyliable} to^{pay the OA claim to the Applicant Bank with futureinterest} and costs.

¶24

In the result,^{the present Original Applicatlon No'235/2O22 is} allowed^{as under:-}

¶25

The Defendants^{are jointly and severally}

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i) liable to^{pay to the Appllcant Banka sum of} Rs.42,34,439.58ps^{with future interest @} 11o/o simple^{from the date of applicationtill} the date^{of realization;}

¶27

the oA^{claim issecured bY way of}

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ii) hypothecation^{of vehicledescribedin the} schedule^{annexedtothe OA and the} applicant^{bank is entitledto proceed against} the same^{realiselts debt;}

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iii) the applicant^{bank is also entitledto proceed} against the^{person and propertiesof} defendants^{for realization of its dues;}

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iii) the applicant^{bank is entitled for the costs'}

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Ovn

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oA.NO.235/2022

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The Applicant Bank is directed to file Cost^{Memo within 2 weeks} from the date of receipt of this Order.

¶34

Issue Recovery Certificate accordingly.

¶35

Communicate a copy of this order to the^parties concerned. (Dictated to the steno, corrected, sign€d and^pronounced by me in the open court on this the 2fⁱ day of September,2023).

¶36

ffi"* (RAMESHWAR KOTHE) PRESIDING OFFICER

Yes Bank v. Dandugula Raju

Case brief

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Yes Bank v. Dandugula Raju

Case brief

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