Allowed

Hdfc Bank Ltd. v. Mohd Ishaq Ali

DRT27 Sept 2023OA/696/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed HDFC Bank's original application for recovery of a total sum of Rs. 1,35,33,421.06 plus future interest from two defendants, ruling them jointly and severally liable based on admitted evidence.

What did the court decide?

Defendants to pay Rs. 1,35,33,421.06 with interest @11.50%; bank to proceed against secured assets and defendants' properties; issue Recovery Certificate; file cost Memo.

Hdfc Bank Ltd. versus Mohd Ishaq Ali — Banking and Recovery | DRT (2023)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD DATED THIS THE 27th DAY OF SEPTENIBER, 2023

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

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Original Application No: 696 OF 2022

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HDFC Bank Ltd., Having its office at # 1-10-60/3, 3ro Floor, Suryodaya Complex, Begumpet, Secunderabad Mandal, Hyderabad-500016. Rep. by its Authorized Signatory.

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.....Applicant.

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Versus

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Mr. Mohd. Ishaq Ali

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S/o. Yousuf Ali Mohammed

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Aged: 46 Years, Occ: Proprietor of M/s. Ilyasi Enterprises Office at # 4-9-917, Lecturers Colony, Backside HDFC Bank, Hayath Nagar, Hyderabad-501505.

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Also at:

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Mr. Mohd. Ishaq Ali C/o. Plot No. 3 and 4. Block No.42, Auto Nagar, Vanasthalipuram, Hayath Nagar. Hyderbad-500070.

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Mrs. Naseeha Tabasum ry9.^{Mohd. Ishaq} Ali,

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Aged: 37 Years, Occ: Business, R/o. H. No.4-9-917, Lecturers Colony, Backside HOFC Bank, Hayath Nagar, Hyderabad-501505.

...Defendants

/Y**

oa.No.695/2022

Counsel for the Applicant

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Defendants

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Mr. M. Srinivas Reddy

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Exparte

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:: qLP!ER ::

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l. The Applicant Bank filed the present OA for the recovery a total sum of Rs.1,35,33,421.06ps i.e. a sum of Rs. 1,25,45,105.06ps and Rs.9,88,316.04ps from the defendants

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jointly and severally with future interest @ 18o/o p.a. from the date of application till the date of realisation along with costs and in default for sale of OA schedule assets.

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Summons sent to D1 & 2 returned with unclaimed, hence deemed to be served. They were set exparte on 75.72.2022 as called absent and no representation.

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The Applicant Bank examined S. prabhu Kumar, Manager-Legal, as AW-1 and marked 23 documents through her as Ex. A.1 to Ex. A.23.

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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 claim made in the OA against the Defendants and OA schedule assefsT

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["^;"

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oA.NO.695/2022

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As stated supra, the Defendants remained ex-parte. The Evidence Affidavit coupled with the recitals in the documents viz., Exs. A.1 to A.23 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendants. Hence, I hold that the Defendants are joinfly and severally liable to^pay the OA claim to the Applicant Bank with future interest and costs,

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In the result, the present Original Application No.696/2022 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,1,35,33,421.06ps i.e. a sum of Rs. 1,25,45,10 5.06ps shalt be joinuy and severally by D-1 and D-2 and Rs.9,88.316.04ps shall be paid by D-1 with future interest @ 11.5olo 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/mortgage of assets described in the schedule annexed to the OA and the applicant bank is entitled to proceed against the same realise its debt;

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iii) the applicant bank is also entifled to proceed against the person and properties of defendants for realization of its dues;

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iii) the applicant bank is entitled for the costs.

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rAvarz^.v (//' 't1x'

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oA.NO.696/2022

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The Applicant Bank is directed to file Cost tvemo 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 27rh day of Septe mbe r, 2023) .

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(RAN4ESHWAR KOTHE) PRESIDING OFFICER

Hdfc Bank Ltd. v. Mohd Ishaq Ali

Case brief

What is this about?

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Hdfc Bank Ltd. v. Mohd Ishaq Ali

Case brief

What is this about?

What did the court decide?

What the court decided

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