Allowed

Hdfc Bank Ltd., v. Thokala Vijaya Mohan Reddy

DRT16 Apr 2024OA/235/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an application filed by H.D.F.C Bank Ltd. for the recovery of dues jointly and severally from three defendants. The Bank proved its claim through an Evidence Affidavit and marked documents, leading to a ruling in its favor.

What did the court decide?

Defendants liable to pay Rs.23,93,671.37 with future interest; claim secured by mortgage; bank entitled to proceed against defendants and properties for recovery.

Hdfc Bank Ltd., versus Thokala Vijaya Mohan Reddy — Banking and Recovery | DRT (2024)

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IN THE DEBTS RECOVERY TR]BUNAL-II AT HYDERABAD DATED THIS THE 16th DAY OF APRIL, 2024

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PRESENT: SH. RAI\4ESHWAR KOTHE, B.Com, L.L.B. (Hons.), [4.A. PRESIDING OFFICER

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RIGINAL APPLICATIoN No. 235

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H.D.F.C Bank Ltd. Offlce at Ba nk House, #6-3-246 & 6-3-244t A. 6th Floor, noxa na^palladium, Road No.1, Banjara Hills, Hyderabad-500034, Rep by its Authorized Signatory

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...........Applicant.

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Versus

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Yl.Thokata^{VijayaMohan Reddy,} S/o. Thirupathi Reddy, Aged 58 years, Occ: Farmer, H.No.4-93, Near Bus Depot Road, Mandlem, Jupadu Bunglow, Kurnool District-518401.

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Also at:

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Mr. Thokala Vijaya Mohan Reddy Ftat No.4O3, 4th ftoor, H.No.45 -iqZ_p_5, S S V R^paradise, V R Colony, Kurnool District-518003

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Mrs. Thokala Sumathi,

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Wo.^Thokala Vijaya Mohan Reddy Ag-ed about 45 years. Occ: Housewife, H.No.4-93, Near Bus Depot Road, lYandlem, Jupadu Bunglow, Kurnool District-519401.

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Also at:

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Mrs. Thokala Sumathi Flat No.403, 4,h Floor, H.No.45-142-12-5, S S V R paradise, V R Colony, Kurnool District-51gOO3

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/Y"*

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oA.No.23sl2023

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Mr. Thokala^{Vishwa nadha ReddY'} slo. r^{euti Reddy, aged 36 Years'} o..:FarmeT,^{H.No.4-32,Mandlem'} i;;; ilt^{oepot Roao,lupadu Bunslow'} Defendants. Kurnool^{District-518401'}

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Mr. M.^{Srinivas Reddy}

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Counsel^{for the ApPlicant} : No^{representation'}

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Defendants^1to3

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ORDER

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The APplicant^{Bank filed the present OA u/s'19 of the Recovery} of Debts^{and Bankruptcy Act' 1993for the recovery of a sum of} Rs.23,g3,671'37ps^{jointlyand severallyfrom the defendants}

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together^{with interest @12oloP a from 23 11'2022 in Cash} Credit^{& DOD Loan facilities the statement date to the date of} Award/Decree^{and thereafter@180/oP awith monthlyrests} from the date^{of the Award/Decreetill the date of realisation} alonq^{with costs and sale of OA scheduleproperties}

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The^{right of filing writtenstatement of Defendants 1 to 3 was} forfeited^{on 31' 10'2023 '}

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The^{Applicant Bank examinedD suresh'Manager-Legal} as to

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AW-1 and^{marked 10 documentsthroughhim as Ex A l} Ex. A. 10.

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Defendants^{right of adducing evidence was forfeitedon} 07 .03.2024.

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reported^{orders may be}

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Learned^{Counsel for the applicant bank} placed on record.

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passed on^{merits. Perusedthe material}

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OY*'n

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oa.No.23s /2023

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The point that arises for consideration is:_

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Whether the Applicant Bank is enti ed for the claim made in the OA against the Defendants and OA Schedule properties?

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As stated supra, no representation for defendants. The Evidence Affidavit coupled with the recitals in the documents viz., Exs. 41 to A.10 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendants. Hence, I hold that the Defendants are liable to pay the OA claim to the Applicant Bank with future interest and costs.

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B, In the result, the present Original Application No.235/2023 is allowed as under: -

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i) the defendants are liable to pay to the Applicant Bank a sum of Rs.23,93,671.37ps with future interest @12yo p.a. simple from the date of apptication i.e.,31.01.2023 tilt the date of realization;

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ii) the OA claim is secured by way of mortgage of properties 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 entiued to proceed a9ainst the person and properties of the defendants tor realization of its dues; and

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iv) the applicant bank is entiued for the costs.

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The Applicant Bank is directed to file Cost Memo with in 2 weeks from the date of receipt of this Order. 'vng,/..r.. /.v'-

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oA.NO.23sl2023

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10.^{Issue Recovery Certificate accordingly'}

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ll.communicateacopyofthisorder.tothepar(Dictated^{to the st"""'} 'll^lJj"o^{oi*-titt"a uv t" in} t^h i e sconcerned.^{opencourt on this the 16"'} iavorrprir,zozar. fDW*

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fDW* rk(rqrsnWnR^KorHE) PRESIDING^OFFICER

Hdfc Bank Ltd., v. Thokala Vijaya Mohan Reddy

Case brief

What is this about?

What did the court decide?

Hdfc Bank Ltd., v. Thokala Vijaya Mohan Reddy

Case brief

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What did the court decide?

What the court decided

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Issues for consideration

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