Allowed

Hdfc Bank Ltd., v. Harihara Earth Movers

DRT22 Aug 2024OA/640/2022

Case brief

AI extract

What is this about?

In Debts Recovery Tribunal-II Hyderabad, the court allowed HDFC Bank Ltd.'s original application seeking recovery of Rs. 22,19,096.82 with interest and costs from four defaulting respondents based on evidence of hypothecated vehicles and documents recorded under the Recovery of Debts due to Banks and Financial Institutions Act.

What did the court decide?

Defendants directed to pay Rs. 22,19,096.82 with future interest at 11.10% p.a.; bank entitled to proceed against hypothecated vehicles and other properties; costs awarded.

Hdfc Bank Ltd., versus Harihara Earth Movers — Contract and Commercial Disputes | DRT (2024)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDEMBAD DATED THIS THE 22NO DAY OF AUGUST, 2024

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

¶3

ORIGINAL APPLICATION No: 640 OF 2022

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HDFC BanK Ltd., Having its oFfice at # 1-10-60/3, 4rH Floor, Suryodaya Complex, Begumpet, Hyderabad - 500016. Rep. by its Authorized Signatory.

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.....Applicant.

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Versus

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Harihara Earth lvlovers, Rep by its Partners H.No.3-91, Laxmipuram Thanda, I\4a habua ba bad - 506101.

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Bhukya Sali W/o.Jagg u,

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Age 43 Years, Occ: Agriculture, H.Na.3-52/17, Laxmipu r Village, lvlahabu ba bad Mandalam,

¶10

I\4ahabu ba bad Dist - 506101.

¶11

Bhukya Dha nsingh S/o.lag9u,

¶12

Age 23 Years, Occ: Agriculture, H.No.3-52l17, Laxmipur Village, I\4a habu babad lvla ndala m, I\4a habu ba bad Dist - 506101.

¶13

Gugu loth Venkan na S/o.Guguloth Laxma,

¶14

Age 43 Years, Occ: Agriculture, H.No.3-72, Laxmipuram Tha nda, lvlahabu ba bad - 506101, 1"1'' .r"

..Defendants

oA.NO.64012022

Counsel for the Applicant

:Dr.lvl.P.Kashyap

Defendants

:Ex-parte

::^qL9_q8 ::

The Applicant Bank filed the^present OA for the recovery a total sum of Rs.22,19,096.82ps from the defendants^{jointly and} severally with future interest @ 24o/o^p.a. from the date^of application till the date of realization along with costs andⁱⁿ default for sale of hypothecated vehicles.

¶24

Summons served on D1 to 4. They were set ex-parte^on 29.Lt.2022 as called absent and no representation.

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The Applicant Bank examined Sumaya Shaik, Legal Manager, as AW-1 and marked 04 documents through her as Ex. A.1 to Ex. A.04.

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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 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 hypothecated vehicles?

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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.04 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Oefendants. (-,, ,fu^^rc-tl2.

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oA.NO.640/2022

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Hence, I hold that the Defendants are joinfly and severally liable to pay the OA claim to the Applicant Bank with future interest and costs.

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In the result, the present Original Application No.64O/2022 is allowed as under: -

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i) The Defendants are joinUy and severally liable to pay to the Applicant Bank a sum of Rs,22,19,096.82ps with future interest @11.1olo 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 vehicles described in the schedule annexed to the OA and the applicant bank is entifled to proceed against the same to realise its debt;

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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.

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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 22"d Day ofAugust, 2024).

¶40

1fus',".// (RXflESHWAR KOTHE) PRESIDING OFFICER

Hdfc Bank Ltd., v. Harihara Earth Movers

Case brief

What is this about?

What did the court decide?

Hdfc Bank Ltd., v. Harihara Earth Movers

Case brief

What is this about?

What did the court decide?

What the court decided

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Issues for consideration

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