Allowed

Hdfc Bank Ltd., v. Katrot Lavanya

DRT9 Nov 2023OA/873/2022

Case brief

AI extract

What is this about?

DRAT allowed an original application filed by HDFC Bank for recovery from two defendants. The bank claimed principal, future interest, and costs. The court held defendants jointly liable and allowed proceeding against hypothecated vehicles.

What did the court decide?

Defendants to pay Rs. 43.72 lakhs plus interest; bank entitled to sell hypothecated vehicles and proceed against defendants' properties.

Hdfc Bank Ltd., versus Katrot Lavanya — Insurance | DRT (2023)

¶1

IN THE DEBTS RECOVERY TRIBUNAL.II AT HYDERABAD

¶2

DATED THIS THE 9th DAY OF NOVEMBER, 2023

¶3

PRESENT: SH. MI4ESHWAR KOTHE, B.Com., L.LB. (Hons.), Ir4.A. PRESIDING OFFICER

¶4

Original Application No: 873 OF 2022

¶5

HDFC Bank Ltd., H. No. 1- 10-60/3, 3'd Floor, Suryodaya complex, Opp. Shoppers Stop, Begumpet, Hyderabad^- 500016. Rep. by its Manager Legal.

¶6

.....Applicant.

¶7

Versus

¶8

Katrot Lavanya, D/o. Panthu Vislavath, Aged: 31Years, Occ: Private Service, H. No. 4-224/A, Flat No. 124lA, Annojiguda, Ankushapur, Ranga Reddy Dist., Ghatkeshar, Telangana-501301.

¶9

Katreth Raju S/o. Katroth Kishan, Aged: 42 Years, Occ: Private Service, A. No. 4-224/A, Flat No. 124lA, Annojiguda, Ankushapur, Ranga Reddy Dist., Ghatkeshar, ..Defendants Telangana-501301

¶10

: Louts Law Associatas Counsel for the Applicant Defendants :exca*e 7/*r>

¶11

oA.NO.873/2022

¶12

::^qLLqB::

¶13

The Applicant Bank^{filedthe present OA for the recoverya total} sum of Rs.43,72,379.36ps^{from the defendants jointly and} severally with^{future interestthereon @ 16010 p a compounded} with monthly rests^{from the date of application till the date of} realization along with^{costs and in defaultfor sale of OA} hypothecated vehicles.

¶14

Summons served^{on D1 & 2. The defendantswere set exparte} on 18.01.2023 as^{calledabsent and no representation'}

¶15

The Applicant Bank^{examined M. Meenakshi, ManagerLegal,as} AW-1 and marked^{11 documents through her as Ex. A 1 to Ex'} A.11.

¶16

Ld. Counsel for the^{Applicant Bank reportedorders maybe} passed on merits. Perused the material^{placed on record.}

¶17

The^point that arises^{for consideration is:-}

¶18

Whether the Applicant^{Bank is entitled} for the claim made in the^{OA against} the Defendants and hY1othecated vehicles?

¶19

As stated supra, the^{Defendantsremainedex-parte.The} Evidence Affldavit coupled with the^{recitals in} the^documents viz., Exs. A.1 to A.11 marked^{on behalf of the ApplicantBank} clinches the claim of the Applicant^{Bankagainstthe Defendants.} Hence, I hold that the Defendants are^{jointly and severallyliable} to^pay the OA claim to the Applicant Bank with future^interest and costs. ,/ry..*o

¶20

¶21

oa.No.a73/2022

¶22

In the result, the present Original Application No.873/2022 is allowed as under: -

¶23

i) The Defendants are joinfly and severally liable to pay to the Applicant Bank a sum of Rs.43,72,379.36ps from the defendants joinuy and severally with future interest @ 9.25olo simple from the date of application till the date of realization;

¶24

ii) the oA claim is secured by way of hypothecation of vehicles described in the schedule annexed to the OA and the applicant bank is entifled to proceed against the same realise its debt;

¶25

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

¶26

iv) the applicant bank is entiued for the costs.

¶27

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

¶28

Issue Recovery Certificate accordingly.

¶29

C€mmunicate a copy of this order to th€ parties concerned. lurdated,to the steno, correded, signed and pronounced by me in the open court on this the 9rh Day of November,2023) .

¶30

(RAl4ESHWAR firy*"KOTHE) PRESIDING OFFICER

Hdfc Bank Ltd., v. Katrot Lavanya

Case brief

What is this about?

What did the court decide?

Hdfc Bank Ltd., v. Katrot Lavanya

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

Coram

Case details

Similar cases

Mr Vijaykumar Sarvaiya versus Sbfc Finance Private Limited

Karnataka Bank Limited versus Adarsh Chaudhary

Punjab National Bank versus Ramesh Chand Rawat

Hdfc Bank versus Kanchan Singh

Canara Bank versus M/S Yogender Aggarwal

Hdfc Bank versus Tirumalsetty Lakshmi Kiran