Allowed

Hdfc Bank Ltd. v. Prabhakar Cheguri

DRT17 May 2023OA/526/2022

Case brief

AI extract

What is this about?

In OA No.526 of 2022, the Debt Recovery Tribunal allowed HDFC Bank's claim for recovery of Rs.22,56,251.08 with interest from two defendants who remained ex-parte. The court held the defendants jointly and severally liable based on the evidence affidavit and exhibited documents. A recovery certificate was issued.

What did the court decide?

Defendants are jointly and severally liable to pay Rs.22,56,251.08 with interest; bank entitled to proceed against assets and properties for realization.

Hdfc Bank Ltd. versus Prabhakar Cheguri — Contract and Commercial Disputes | DRT (2023)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD

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DATED THIS THE 17TH DAY OF MAY, 2023

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

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oA.NO. 526 0F 2022

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HDFC Bank Ltd., H. No. 1-10-60/3, 3'd Floor, Suryodaya Complex Opp: Shoppers Stop Begumpet, Secunderabad Mandal Hyderabad District^-500016. Represented by its Legal Manager.

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.....Applicant.

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Versus

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Prabhakar Cheguri, S/o Ailaiah Aged about 32 years Occ: Business, R/o 1-98 Peddaravula^pa lly Nalgonda - 508 284 Telangana State.

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Srinivasa Akula S/o Pochaiah Akula Aged: Major, Occ: Business 1-102, Peddaravulapalli Nalgonda - 508 284 Telangana State.

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...... Defendants.

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Counsel for the Applicant : M.V. Kini.

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Defendant i Ex-parte. No

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oA.52612022

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:: ORDER::

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The Applicant Bank filed the^present OA for the recovery of a sum of Rs.22,56,251.08Ps from the defendants^jointly and severally together with future interest @24o/o^p.a. with monthly rests from the date of application till date of realisation and sale of OA schedule assets,

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The defendants were served with summons. They were set exparte on 20.12.2022 as called absent and no representation.

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The Applicant Bank examined V.V. Pavan Kumar, Legal Manager, as AW-1 and marked 11 documents through him as Ex. A1 to Ex.A11.

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Heard the Ld. Counsel for the Applicant Bank and^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 OA claim against the Defendants and OA schedule asset?

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As stated supra, the Defendants^{remained ex-parte. The} Evidence Affidavit coupled with the recitals in the^documents viz., Ex. A. 1 to Ex.A.11 marked on behalf^{of the ApplicantBank} clinches the claim of the Applicant Bank against^the Defendants. Hence, I hold that the^{Defendants are jointly and} severally liable to^pay to the Applicant^Bank the^{OA claim with} costs.

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s,>

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oA. s26l2l22

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In the result, the present Original Application No.526/2022 is allowed as under: -

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i) the Defendants are jointly and severally liable to pay to the Applicant Bank a sum of Rs.22,56,251.08ps along with interest @g.25olo p.a. simple from the date of application till the date of realization;

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ii) the OA claim is secured by way of hypothecation of asset described in the schedule annexed to the OA, and the applicant bank is entifled to proceed against the same;

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iii) the Applicant Bank is also entiued to proceed against the person and properties of the defendants for realization of its dues; and

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iv) 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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Communicate a copy of this order to the parties concerned. (Dictated to the steno, corrected, signed and pronounced by me in the open court on this the 17th day of May,2023)

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Ow-

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(RAMESHWAR KOTHE) PRESIDING OFFICER

Hdfc Bank Ltd. v. Prabhakar Cheguri

Case brief

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Hdfc Bank Ltd. v. Prabhakar Cheguri

Case brief

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