Allowed

Hdfc Bank Ltd., v. M/S Datla Cabs Private Limited

DRT22 Jan 2024OA/63/2023

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed an Original Application filed by HDFC Bank. In the absence of defendants, the court held them jointly and severally liable to pay the principal amount, future interest, and costs, and directed the bank to proceed against secured hypothecated vehicle. Recovery certificate issued.

What did the court decide?

Defendants declared jointly and severally liable to pay Rs. 26,03,275.72 plus future interest; Applicant entitled to proceed against hypothecated vehicle and defendant properties; Recovery Certificate

Hdfc Bank Ltd., versus M/S Datla Cabs Private Limited — Banking and Recovery | DRT (2024)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD DATED THIS THE 22"d DAY OF JANUARY, 2024

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PRESENT: SH. MMESHWAR KOTI.

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o*.rrrr*n'5irur'a.u.fl^{., L. LB.(Hons.), M.A.}

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Original Application No: 63 OF 2023

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HDFC Bank Ltd, Br,anch office at 1-10_60/3, J^- Ftoor, Suryodaya Complex, upp. shoppers Stop, BequmDet. Secunderabad Mandal, Secunderabad District_500016. tetangana State. Rep. by its Legal Manager.

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.....Applicant.

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Versus

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M/s. Datia Cabs private Limited, Rep. by its Director Mr. Minumula Srinivas Reddv Office at: H.No.4-4 2_t}32t1'.' Narayana Residency, paparayudu Naqar, Opp: HP^petrol pump, Kul<atpalty, Hyderabad-5OOO72 tetangana State.

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Mr. Minumula Srinivas Reddv. S/o. S-anjeeva Reddy Minum;ta, Age: 43^years, Occ: Business. (,aJutaramaram, Devender Y-?.:,1l'ot "u,, Narasimha Naqdr,Basthi, Quthubullapur, Ranqa Reddv. Hyderabad-500055,^' Telangana State.

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... Defendants

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Counsel for the Applicant Defendants

:M.V.Kini

'rrrn" O.r,

oA.NO.63/2023

:: ORDER::

The^{Applicant Bankfiled} from^{the the present defendants OA for the jointly recovery and severallya sum} ",^*r.ru,or,r,t '2ps @^{24olo p'a from the dateof applicationtill}

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*t,n ,r,rr"^,"**t realization^{along with costsand in default for sale of}

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,a" """ "t OA schedule^{hypothecated vehicle'}

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The defendants^{were set exparte on L4'O7 '2023 as called} absent^{and no representation'} The Applicant^{Bank examined Nikhila Yedla'Legal Manaqer' as} i*-r'unA^{marked18 documents through her as Ex A l to Ex} A.18.

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Ld. counsel^{for the Applicant Bank rePorted orders maybe}

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pura"a on^{merits' Perusedthe material placed on record'}

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The^{polntthat arisesfor consideration ls:-}

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-fotr Whether^{the AppticantEank is entitled} the claim^{made in the OA against}

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the^{Defendants and OAschedule} hYPothecated^vehicle?

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As^{statedsupra,the Defendantsremainedex-parte'The} Evidence^{Affidavitcoupled'Yith the recitals in the documents} viz., Exs.^{A.1 to A 18 marked on behalf of the ApplicantBank} clinchestheclaimoftheApplicantBankagainsttheDefendants. Hence, I^{hold that the Defendants are jointlyand severallyliable} to^pay the^{oA ctaimto the Applicant Bank/rt3rrreinterest} and costs. /,/ 'r>t'

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¶28

oA,NO.63/2023

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In the result, the present Original Application No.63/2023 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.26,O3,27 5.72ps with future interest @ 8.25o/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 hypothecation of vehicle described in the schedule annexed to the OA and the applicant bank is entitled to proceed against the same to realise its debt;

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iii) the applicant bank is also entiued to proceed against the person and properties of defendants for 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 within 2 weeks from the date of receipt of this Order.

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Issue Recovery Certifi cate accordingly.

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1. C-ommunicate a copy of this order to the parties concerned. (Dictated to the steno, signed and pronounced by me jn the open court on this the 22"d Day ofJanuery, 2024) .

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2(ar!) PRESIDING OFFICER

Hdfc Bank Ltd., v. M/S Datla Cabs Private Limited

Case brief

What is this about?

What did the court decide?

Hdfc Bank Ltd., v. M/S Datla Cabs Private Limited

Case brief

What is this about?

What did the court decide?

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