Allowed

Hdfc Bank Limited v. Mr.Poreddy Malla Reddy

DRT15 Jul 2024OA/124/2022

Case brief

AI extract

What is this about?

Dr. Debts Recovery Tribunal allowed an original application filed by HDFC Bank Ltd. (Applicant) jointly and severally against three respondents, adjudging repayment of Rs.60,56,993.14 with future interest and costs.

What did the court decide?

Order allowed. Defendants jointly and severally liable to pay Applicant sum of Rs.60,56,993.14p with future interest @10.50% p.a. till realisation and @18% p.a. thereafter; Issue recovery certificate.

Hdfc Bank Limited versus Mr.Poreddy Malla Reddy — Banking and Recovery | DRT (2024)

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IN THE DEBTS RECOVERY TR]BUNAL-II AT HYDERABAD DATED THIS THE 15Ih DAY OF JULY, 2024

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

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ORIGINAL APPLICATION No: 124 OF 2022

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H DFC Ban k Ltd., Having its office at Bank House, # 6-3-246 & 6-3-244/A, 6th Floor, Roxana Palladium, Road No.1, Banjara Hills, Hydera bad-500034. Rep. by its Authorized Signatory.

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... ..Applicant.

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Versus

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Mr. Poreddy Malla Reddy

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S/o. Linga Reddy,

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Aged about 48 Years, Occ: Farmer,

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R^{/o.H.No.4-123l82,} Near Venkateswara

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Temple, Swaroop Nagar, Uppal,

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Ranga Reddy District - 500039, T.S.

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Mrs. P.Santhoshi

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w/o.Satyanarayana Reddy, Aged about 47 Years, Occ: Self Employed,

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R/o. H. No.4- 123/82, Near Venkateswara

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Temple, Swaroop Nagar, Uppal,

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Ranga Reddy District - 500039. T.s.

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Mr.Chettipalli Raju S/o.Sanjeeva Reddy, Aged about 44 Years, Occ: Business, R/o.H.No.6-92, Bandlagudem Village, Lingalaghanpur Mandal, Jangaon, Telanoana ' - 506201. f^'Y/^^.ru (,/ \9<sup>t '

... Defendants

oA.NO.12412022

Counsel for the Applicant

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: M/s. M. Srin ivas Reddy

Defenda nts

:Exparte

:: qLLLB ::

The Applicant Bank filed the present OA for the recovery a total sum of Rs.60,56,993.14ps from the defendants jointly and severally together with @ 10.50o/o p.a. from 15.11.2021 (cash Credit) & Term Loan, the statement date to the date of Award/Decree and thereafter @ 18% p.a. compounded with monthly rests from the date of application till the date of realization along with costs and in default for sale of OA schedule properties.

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Summons served on D1 to 3. They were set ex-parte on 07.O9.2022 as called absent and no representation.

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The Applicant Bank examined D.Suresh, Deputy Legal Manager, as AW-1 and marked 09 documents through him as Ex. A.1 to Ex. A.09.

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

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The point that arlses 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 properties? OY*Y

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oA.NO .12412022

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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.09 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendants. Hence, I hold that the Detendants are^jointly and severally liable to^pay the OA claim to the Applicant Bank with future interest a nd costs.

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In the result, the^present Original Application No.L24/2022 is allowed as under: -

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i) The Defendants are^jointly and severally liable to pay to the Applicant Bank a sum of Rs.60,56,993.14ps with future interest @ 10.50o/o 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 mortgaged properties described ln the schedule annexed to the OA and the applicant bank is entitled to proceed against the same to realise its debU

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

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iv) the applicant bank is entitled for the costs. /4ry'^.*'' u "ou

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oA.NO.t24l2022

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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, corrected, signed and^pronounced by me in the open court on this the 15th Day of July, 2024).

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(RAMESHWAR KOTHE) PRESIDING OFFICER

Hdfc Bank Limited v. Mr.Poreddy Malla Reddy

Case brief

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Hdfc Bank Limited v. Mr.Poreddy Malla Reddy

Case brief

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