Allowed

Hdfc Bank v. M/S G S Process Engineers

DRT16 Aug 2024OA/413/2023

Case brief

AI extract

What is this about?

In this ex-parte order, the Debt Recovery Tribunal allowed the applicant bank's recovery claim. The court held respondents jointly liable to pay a sum of Rs. 8,76,73,72.23 with interest and costs, secured by mortgaged properties.

What did the court decide?

Joint and several liability to pay Rs. 8,76,73,72.23 with interest, entitlement to proceed against mortgaged properties and defendant's assets, and issuance of recovery certificate.

Hdfc Bank versus M/S G S Process Engineers — Banking and Recovery | DRT (2024)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD DATED THIS THE 16th DAY OF AUGUST, 2024

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

¶3

ORIGINAL APPLICATION No: 413 OF 2023

¶4

HDFC Bank Ltd., Having its office at # 6-3-246 & 6-3-244/A, 3'd Ftoor, Desk No.o196, Roxana Palladium, Road No.1, Banjara Hills,(Besides Virlnchi Hospital), Hyderabad District - 500034. Rep by its Authorized signatory

¶5

""^Appricant'

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Versus

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M/S.G.S. Process Engineers, Rep by its Proprietor Mr.Ramesh Babu Gunji, Shop No.G9, H. No.22-230l3, Srija Residency, Usha Mulla^pudi Road, Beside Indian Bank ATM, Madhavi Nagar, Kukatpally, Hyderabad - 50OO72, Telangana State.

¶8

Mr.Ramesh Babu Gunji, S/o.Gunji Malkondaiah, Age Major, Occ: Business, H.No.2-22-231/Bl9, Nagaratna Residency, Mad havi Nagar, Bhagya nagar Colony, Beside Ind ian Bank, Kukatpally, Hyderabad - 500072, Telangana State.

¶9

Mrs.Gunii Bharathi. Vt*r^,./ / ..-$(s -

¶10

oA.NO.413/2023

¶11

¶12

Wo.Gunji^{Ramesh Babu,} Age Major, Occ: Business, H.No.2-22-237/B/9, Nagaratna Residency, Madhavi Nagar, Bhagyanaga r Colony, Beside Ind ian Bank, Kukatpally, Hyderabad - 500072, Telangana State.

¶13

.. . Defenda nts

¶14

Counsel for the Applica nt

: N4.V. KINI

Defendants

: Ex-parte

:: qLLEB ::

The Applicant Bank filed the present OA for the recovery a total sum of Rs.B 1,67 ,3t2.23ps as on 15.03.2023 from the defendants^jointly and severally with future interest @ 18o/o p.a. from the date of application till the date of realization along with costs and in default for sale of OA schedule^properties.

¶20

Summons served on D1 to 3 through^{paper publication.} They were set ex-parte on 01.05.2024 as called absent and no representation.

¶21

The Applicant Bank examined Srikanth Sukhavasi, Senior Manager, as AW-1 and marked 80 documents through him as Ex.A.1 to Ex.A.80.

¶22

Heard the Ld. Counsel for the Applicant Bank. Perused the material placed on record.

¶23

The point that arises for consideration is:-

¶24

oA.NO.413l2023

¶25

¶26

Whether the Applicant Bank is entitled for the claim made in the OA against the Defendants and OA schedule properties?

¶27

As stated supra, the Defendants remained ex-parte. The Evidence Affidavit coupled with the recitals in the documents viz., Exs.A.1 to A.80 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 liable to pay the OA claim to the Applicant Bank with future interest and costs.

¶28

In the result, the present Original Application No.413/2023 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.87 ,67 ,372.23ps with future interest @ 13.50o/o p.a. simple from the date of application till the date of realization;

¶30

ii) the OA claim is secured by way of mortgaged properties described in 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 propedies of defendants for realization of its dues;

fu*,

oA.NO.413/2023

iv) the applicant bank^{is entitledfor the costs.}

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B. The Applicant Bank is directed to^{file Cost Memowithin2 weeks} from the date of receipt of this Order'

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Issue Recovery Certificate accordingly.

¶38

Communicate a copy of this order^{to the parties concerned.} (Dictated to the steno, corrected, signed and^{pronouncedbyme in the open courton} this the 15!h Day of August,^2024).

¶39

k'"1 (RAMESHWAR KOTHE) PRESIDING OFFICER

Hdfc Bank v. M/S G S Process Engineers

Case brief

What is this about?

What did the court decide?

Hdfc Bank v. M/S G S Process Engineers

Case brief

What is this about?

What did the court decide?

What the court decided

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