Allowed

Hdfc Bank Ltd., v. Bandaru Narsimha

DRT15 Apr 2024OA/390/2023

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed the bank's original application for recovery of Rs. 21.44 lakhs plus interest and costs from three respondents who failed to appear, holding them jointly and severally liable based on the evidence affidavits.

What did the court decide?

Defendants ordered to pay Rs. 21,44,353.74 with future interest; bank entitled to proceed against hypothecated vehicle and defendants' properties for recovery.

Hdfc Bank Ltd., versus Bandaru Narsimha — Banking and Recovery | DRT (2024)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD DATED THIS THE 15th DAY OF APRIL, 2024

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PRESENT: SH. RAMESHWAR KOTHE, B.COM, L.L.B. (HONS.), 14.A. PRESIDING OFFICER

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ORIGINAL APPLICATION No. 39O OF 2023

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H DFC Bank Ltd., Office at 1-10-60 /3, 3'd floor, (34), Su ryodaya Complex, Begumpet, Hyderabad-500016 Rep by its authorized siqnatory Applica nt.

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Versus

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Banda ru Narsimha, S/o. Ellaiah Bandaru,

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Occ: Business, Age:46 years,

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H.No.2-76, Yrrasanigudem, Kattangur, Na lgonda, Telangana-508205.

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Bandaru Raju, S/o. Yellaiah Banda ru,

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Occ: Business, Age: 33 years,

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H.No.2-76, Yrrasanigudem, Kattangur, Nalgonda,

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Tela ng a n a - 5 0820 5.

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Manda Pa rashuramulu, S/o. Venkaia h Manda, Occ:Buslness, Age:39 years, H.No.1-98, Venkatapuram, Narkatpally, Na lgonda, Tela ngana-508254. Defendants.

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Counsel for the Applicant : Mr. Srihari Bathina Defendants : Exparte. d2<*

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oA.NO.390/2023

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ORDER

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The Applicant Bank filed the present OA for the recovery of a sum of Rs.21,44,353.74ps jointly and severally from the defendants together with interest @lQ.42o/o & 9.25olo p.a. for loan accounts 83721355 & BB33B48 respectively with future interest @2olo per month on unpaid EMI(contractual rate of interest) from the date of application till the date of realisation along with costs and sale of OA schedule hypothecated vehicle.

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Summons served on D1 to 3. They were set ex-parte on 15.09.2023, as called absent and no representation.

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The Applicant Bank examined Y. Nikhila, Legal Manager as AW1 and marked 5 documents through him as Ex. A.1 to Ex.A.5.

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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 Schedule hypothecated vehicle?

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As stated supra, defendants remained ex-parte. The Evidence Affidavit coupled with the recitals in the documents viz., Exs. A1 to A.5 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 ltable to pay the OA claim to the Applicant Bank with future interest and costs. ffi-^

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oA.NO.390/2023

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In the result, the present Original Application No.390/2023 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.21,44,353.74ps with future interest @10.00o/o^p.a. simple from the date of application i.e.,28.03.2023 till the date of realization;

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ii) the OA claim is secured by way of hypothecation of vehicle 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; and

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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 Lsth day of April, 2024).

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ffi('*n

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MESHWAR KOTHE) PRESIDING OFFICER

Hdfc Bank Ltd., v. Bandaru Narsimha

Case brief

What is this about?

What did the court decide?

Hdfc Bank Ltd., v. Bandaru Narsimha

Case brief

What is this about?

What did the court decide?

What the court decided

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