Allowed

Hdfc Bank Ltd. v. Sss Agro Commodities Private Limited

DRT24 Nov 2023OA/555/2022

Case brief

AI extract

What is this about?

An Original Application filed by HDFC Bank for recovery of a debt against two defendants was heard ex-parte. The Debts Recovery Tribunal allowed the application, holding defendants jointly and severally liable to pay the sum with interest and costs, and directed issuance of a Recovery Certificate.

What did the court decide?

Directing defendants to pay Rs.40,88,246,93 with future interest at 12% p.a., permitting suit for realization of dues, and issuing a Recovery Certificate.

Hdfc Bank Ltd. versus Sss Agro Commodities Private Limited — Execution and Attachment | DRT (2023)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-I] AT HYDERABAD DATED THIS THE 24th DAY OF NOVEMBER, 2023

¶2

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

¶3

ORIGINAL APPLICATION No. SSS OF 2022

¶4

HDFC Bank Limited, H. No. 1-10-60/3,3'd Ftoor, Suryodaya Complex, Opp. Shoppers Stop, Begumpet, Hyderabad-500016 Rep by its Manager- Legal

¶5

......Applica nt.

¶6

Versus

¶7

SSS Agro Commodities Private Ltd. Rep. by its MD. R/o.3-6-561/1 2, F8 First Floor, AaltosAMTradeCentre, Himayath Nagar, Hyderabad, Tela nga n a- 5000 29

¶8

Sanjay Kumar Sing h S/o Surendra Singh, Age:47 years Occ: Business, R/o.3-6-561/ 12, First Floor, Aaltos A 14 Trade Centre, Himayath Nagar, Hyderabad Tela nga na - 5000029.

¶9

Also at: Sanjay Kumar Singh S/o Surendra Singh, Age:47^years occ: Business, 9-5-32/ 70/ A, Anjaiah Nagar, Old Bowenpally, Secunderabad- 500009

Defendants. OY**

oa.sssl2022

Counsel for the^APP|icant Defendants

¶14

: Mr. N Sudarshan : Exparte.

¶15

ORDER

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The Applicant Bank filed the^{presentOA for the recovery of a} sum of Rs.40,88,246,93ps from^{the defendants with interest} @15.5olo^{with monthly rests froln the date of Application till the} date of realization along^{with costs.}

¶17

Summons served on^D1 through^{paper publication.Summons} of D2 served. They^{were set ex-parteon 03.01.2023as there} was no representation on their^behalf.

¶18

The Applicant Bank examined Mr. Prabhu^{Kumar, Manager} Legal as AW-1 and marked⁶ documents through^{him as Ex. A.1} to Ex. A.6.

¶19

Heard Learned Counsel for the Applicant Bank. Perused the material placed on record.

¶20

The point that arises for consideration is:-

¶21

Whether the Applicant Bank is entitled for the claim made in the OA against the Defendants?

¶22

As stated supra, defendants remained ex-parte. The Evidence Affidavit coupled with the recitals in the documents viz., Exs. A1 to 4.6 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defenda nts. !1ence, I

¶23

¶24

oA.5s5/2022

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hold that the Defendants are joinuy and severally liable to pay the OA claim to the Applicant Bank with future interest and costs.

¶26

In the result, the present Original Application No.555/2022 is allowed as under: -

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i) The Defendants are joinuy and severally liable to pay to the Applicant Bank a sum of Rs.40,88,246,93ps with 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 entiUed to proceed against the person and properties of the defendants for realization of its dues;

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iii) the applicant bank is entiged for the costs.

¶30

The Applicant Bank is directed to file Cost Memo within Z weeks from the date of receipt of this Order.

¶31

Issue Recovery Certificate accordingly.

¶32

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 24rh day of November, 2023i

¶33

frx'o 1ntrEsnwen xorxel PRESIDING OFFICER

Hdfc Bank Ltd. v. Sss Agro Commodities Private Limited

Case brief

What is this about?

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Hdfc Bank Ltd. v. Sss Agro Commodities Private Limited

Case brief

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What did the court decide?

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