Allowed

Hdfc Bank Ltd., v. M/S Sri Viswambhara Projects

DRT29 Aug 2023OA/952/2022

Case brief

AI extract

What is this about?

The Tribunal adjudicated an Original Application for debt recovery filed by HDFC Bank Ltd. against corporate and individual respondents. The defendants were heard ex parte. The court held the defendants jointly and severally liable to pay the principal sum with interest and costs, allowing the application and directing the issue of a recovery certificate.

What did the court decide?

Defendants directed to pay Rs. 23,07,507/- with interest and costs; bank entitled to proceed against defendants' properties; recovery certificate to be issued.

Hdfc Bank Ltd., versus M/S Sri Viswambhara Projects — Contract and Commercial Disputes | DRT (2023)

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IN THE DEBTS RECOVERY TRIBUNAL.II AT HYDERABAD DATED THIS THE 29th DAY OF AUGUST, 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: 952 OF 2022

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HDFC Bank Ltd.,

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Branch office at 1- 10-60/3, 3'o Floor, Suryodaya Complex, Begumpet, Secunderabad Mandal, Hyderabad District-5OOO 16. Rep. by its Manager Legal

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....Applicant

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Versus

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M/s. Sri Viswambhara^projects Rep. by its Managing^partner Mrs, M Meenakshi &^partner

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lvlr. Chandra Sekhar,

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Office at# Plot No. 54,

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MNR Colony, Near ZpHS, Dammaiguda, Nagaram Village, Ranga Reddy District-SOOOOg

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Mrs. M Meenaksi W/o. Chandraa Shekhar,

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Aged: 43 Years, Occ; Managing partner of M/s. Sri Viswamabhara^proiects, R/o. H. No. Plot No. 54, MNR Cotony, Near ZPHS, Dammaiguda, Nagaram Village, Ranga Reddy District-500009.

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Mr. l{ Chandra Sekhar S/o. M K Sharma

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Aged: 47 Years, Occ: Partner of M/s. Sri Viswamabhara Projects, R/o. H. No. Plot No. 54, MNR Colony, Near ZPHS, Dammaiguda, Nagaram Village, Ranga Reddy District-5OOOO9

dW 'Defendants

oa.No.95212022

Counsel for the Applicant

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Mr. M. Srinivas Reddy

Defenda nts

Exparte

:: ILBiLLB ::

The Applicant Bank filed the present OA for the recovery of a total sum of Rs. 23,O7,5051- from the defendants joinuy and severally with future interest @ 18% p.a. from the date of application till the date of realisation alonq with costs.

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Summons served to D1 and 3 returned with endorsement "Unclaimed", hence deemed to be served. They were set exparte on 06.02.2023 as called absent and no representation.

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The Applicant Bank examined S. prabhu Kumar, Senior Manager, as AW-1 and marked 12 documents through her as Ex. A.1 to Ex. A.12.

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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?

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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.12 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendants. Hence, I hold that the Defendants are joinuy and severally liable

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,vX\lrnuL/ 4,*

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oA.NO.9s2l2022

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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.9B2/2O22 is allowed as under: _

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i) the Defendants are joinfly and severally liable to pay to the Applicant Bank a sum of Rs. 23,07,507/-with future interest @ t2o/o p.a. simple from the date of application till the date of realization;

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

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iii) the applicant bank is entifled 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 Certifi cate accordingly.

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cofimunicate a copy of this order to the parties concerned. (Dictated to the steno, corrected. .t o ,t'" rg;^jr, t'tned and pronounced bv me in the open court on "i^{,irir.,,'ijlil}

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(RAMESHWAR KOTHE) PRESIDING OFFICER

Hdfc Bank Ltd., v. M/S Sri Viswambhara Projects

Case brief

What is this about?

What did the court decide?

Hdfc Bank Ltd., v. M/S Sri Viswambhara Projects

Case brief

What is this about?

What did the court decide?

What the court decided

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