Allowed

Hdfc Bank Ltd. v. Shiva Kumar Mamila

DRT15 Dec 2023OA/941/2022

Case brief

AI extract

What is this about?

Single-judge Debt Recovery Tribunal allowed H.D.F.C. Bank Ltd's Original Application for recovery of ₹24,92,909.57 plus future interest and costs against defendants who were ex-parte absent, permitting proceedings against their hypothecated vehicle and personal properties.

What did the court decide?

Defendants to pay ₹24,92,909.57 with future interest; bank entitled to proceed against hypothecated vehicle and defendants' properties for recovery; grant of costs.

Hdfc Bank Ltd. versus Shiva Kumar Mamila — Banking and Recovery | DRT (2023)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD DATED THIS THE 15th DAy oF DECEMBER, 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. 941 OF 2O22

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H.D.F.C. Bank Ltd

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H.No. 1-10-60/3, 3'd Floor, Suryodaya Complex, Opp. Shoppers Stop, Begumpet, Hyderabad-5000 16 Represented by its Manager-Legal

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Applicant.

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Versus

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Shiva Kumar Mamila S/o. Ramdas Mamila

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Age:31 years; Occ:Business R/o. 5-3-72/3 Premavathipet, WC Rajendra Nagar, Rangareddy, Hyderabad, Telanga na-500030

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Also at:

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Shiva Kumar Mamila S/o. Ramdas Mamila Age:31 years; Occ:Business C/o. Shiva Exotic Pets 1tt floor AS Arcade, Suncity Hyderabad, Telangana-50009 1.

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M Ramdass S/o M.Tulasaiah Age:60 years, Occ: Business R/o. 5- 3 - 7 2/ 3 Premavath i pet, WC Rajendra Nagar, Rangareddy, Hyderabad, Tela nga na-500030

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defendants.

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: Mr. N. Sudarshan Counsel for the Applicant Defendants :Exparte

oY.g

oA.94r12022

ORDER

The Applicant Bank filed the^present OA for the^{recovery of a} sum of Rs.24,92,909.57ps from the defendant^{with interest} @9.360lo^{p.a. with monthly rests fromthe date of Applicationtill} the date of realisation along with^{costsand sale of OA schedule} hypothecated vehicle.

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Summons served on D1 & 2. They^{were set ex-parteon} 21.02.2023, as called absent and no representation on^their behalf.

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The Applicant Bank examined M. Meenakshi, Legal Manager^as AW-1 and marked 8 documents through her as Ex.^A.1 to^Ex. A.8.

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Learned Counsel for the applicant bank reported orders^{may be} passed on merits. 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 hypothecated vehicle?

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As stated supra, defendants remained ex-pade. The Evidence Affidavit coupled with the recitals ln the documents viz., Exs. A1 to A.8 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendants. Hence, I

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{.'"*

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oA.g(Ll2022

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

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In the result, the present Original Application No.94112022 IS allowed as under: -

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i) the defendants are liable to pay to the Rs.

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Applicant Bank a sum of Rs.24,92,909.57ps with future interest @8.70olo^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 entitled to proceed against the same for recovery of its dues;

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

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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, signed and pronounced by me in the open court on this the 15th day of December, 2023).

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own

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(RAfr'ESHWAR KorHE) PRESIDING OFFICER

Hdfc Bank Ltd. v. Shiva Kumar Mamila

Case brief

What is this about?

What did the court decide?

Hdfc Bank Ltd. v. Shiva Kumar Mamila

Case brief

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What did the court decide?

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