Allowed

Hdfc Bank Ltd., v. Gundu Anjali

DRT11 Dec 2023OA/877/2022

Case brief

AI extract

What is this about?

Allowed an Original Application for recovery of a loan balance. Held defendants jointly and severally liable for the outstanding sum with future interest after adjusting the proceeds from the sale of hypothecated vehicles.

What did the court decide?

Defendants jointly and severally liable to pay sum of Rs.69,28,627.83 adjusted by proceeds of Rs.32,00,000/- along with future interest @ 8.25% p.a.

Hdfc Bank Ltd., versus Gundu Anjali — Banking and Recovery | DRT (2023)

¶1

IN THE DEBTS^{RECOVERYTRIBUNAL-II AT HYDERABAD} DATED THIS THE^{11th DAY OF DECEMBER,2023}

¶2

PRESENT: SH. MMESHWAR^{KOTHE, B.COM., L.LB.(HONS.),M.A.} PRESIDING OFFICER

¶3

Original Appllcation^{No: 877 OF 2022}

¶4

HDFC Bank Ltd., Having its office at #^1-10-60/3, 3'd Floor, Suryodaya^ComPlex, Opp: Shoppers StoP, Begumpet, Secunderabad^Mandal, Secunderabad District-500016. Telangana State.

¶5

.....Applicant.

¶6

Versus

¶7

Ms. Gundu Anjali,D/o.^{Gundu Suresh,} Aged: 38 Years, Occ: Self^Employee, H. No. 16-102/3/3/A5,^VidYanagar, Suryapet, Nalgonda-508213, Telangana State.

¶8

Also at:

¶9

Iqs. Gundu Anajli, D/o. Gundu^Suresh, Aged: 38 Years, Occ: Self^EmPloyee, H. No.3- 16, Gaju^la ma lka Pu^{ra m,} Penpahad, lvlandalam, Nalgonda-508213, Telangana^State.

¶10

N1r. Gundu Suresh, S/o. Sri Venkateswarlu, Aged: 44 Years, Occ: Self Employee, R/o. H. No. 16-102/3/3/A5, Vidyanagar, Suryapet, Nalgonda-508213, Telangana State.

dYu*'

oA.NO.87712022

Also at:

Mr. Gundu Suresh, S/o. Sri Venkateswarlu, Aged: 44 Years, Occ: Self Employee, H. No.3-16, Gajulamalkapuram, Penapahad [4andalam, Nalgonda-508213, Telangana state.

¶15

... Defendants

¶16

Counsel for the Applicant Defendants

: N4.V. KINI

:Exparte

::^qRDER::

The Applicant Bank filed the present OA for the recovery a total sum of Rs.69,28,627.83ps as on 24.09.2022 from the defendants jointly and severally with future interest @ 24olo p.a. from the date of application till the date of realization along with costs and in default for sale of OA hypothecated vehicles.

¶21

Summons served on D1 and 2. They were set exparte on 27.O7.2023 as called absent and no representation.

¶22

The Applicant Bank examined Nikhila^yedla, Legal Manager, as AW-1 and marked 13 documents through her as Ex. A.1 to Ex. A.13. It is stated that pending OA hypothecated vehicles were sold for a sum of Rs.32,00,000/- (i.e. Rs.9,85,018/-, Rs.77,O7,497/- and Rs.11,07,491/-) and the sate proceeds were adjusted to loan account on 21.08.2023.

¶23

Ld. Counsel for the Applicant Bank reported orders may be passed on merits. Perused the material placed N"*on record.

¶24

oA.NO.a77 12022

¶25

¶26

The point that arises for consideration is:-

¶27

whether the Applicant Bank is entitled for the balance claim made in the OA against the Defendant?

¶28

As stated supra, the Defendants remained ex-parte. The Evidence Affidavit coupled with the recitals in the documents viz., Exs. A.1 to A.13 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendants. Hence, I hold that the Defendants are^jointly and severally liable to^pay the OA claim to the Applicant Bank with future interest and costs, after adjusting Rs.30,00,000/- being the^proceeds of hypothecated vehicles.

¶29

In the result, the^present Original Application No.87712O22 is allowed as under: -

¶30

i) The Defendants are^jointly and severally liable to^pay to the Applicant Bank a sum of Rs.69,28,627.83ps with future interest @ 8.25% p.a. simple (Less Rs.32,00,000/appropriated to the loan account on 21.O8.2023) from the date of applicatlon till the date of realization;

¶31

ii) the applicant bank is entitled to^proceed against the person and^properties of defendant for realization of its balance^dues;

¶32

iii) the applicant bank is entitled^for the^costs.

¶33

The Applicant Bank is directed to^{file Cost lvlemowithin 2 weeks} from the date of receipt of this order. ,1v-,rtn ( t'/⁽ \''

¶34

oA.NO.87712022

¶35

9. Issue Recovery Certificate^accordingly.

¶36

Communicate^{a copy of this order to the parties concerned'} (Dictated to the steno, corrected, signed^{andpronouncedbyme in theopen courton} this the 11ft DaY of^{December,2023).}

¶37

(RAMESHWAR KOTHE) PRESIDING OFFICER

Hdfc Bank Ltd., v. Gundu Anjali

Case brief

What is this about?

What did the court decide?

Hdfc Bank Ltd., v. Gundu Anjali

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

Icici Bank Limited versus Shiltu Nandi

Hdfc Bank versus Ranjit Singh

Icici Bank Limited versus Sh. Inderjeet Singh

Punjab National Bank (Oriental Bank of Commerce) versus M/S Ekavira International

Bank of Baroda versus Ishwarappa Sosaravi

Idbi Bank versus Revathi