Allowed

Yes Bank Limited v. Munukuntla Anjaiah

DRT20 Mar 2024OA/651/2022

Case brief

AI extract

What is this about?

Debts Recovery Tribunal Hyderabad allowed the Original Application filed by Yes Bank Limited for recovery of Rs.27,33,696.96 along with future interest from two Defendants, who remained in absentia. The claim was secured by hypothecated vehicles.

What did the court decide?

Defendants jointly and severally liable to pay Rs.27,33,696.96 plus future interest; claim secured by hypothecated vehicle; entitlement to proceed against person and properties of defendants; costs aw

Yes Bank Limited versus Munukuntla Anjaiah — Contract and Commercial Disputes | DRT (2024)

¶1

IN THE DEBTS^{RECOVERYTRIBUNAL'IIAT HYDEMBAD} DATED THIS^{THE 2oth DAYOF MARCH, 2024}

¶2

PRESENT: SH.^{RAMESHWARKOTHE,B Com', L'LB' (Hons')'M'A'} PRESTDING^OFRCER

¶3

Original Application^{No: 657 OF 2022}

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Yes Bank Limited, * r-a487,3d^Floor, Agravanshi^Plaza, HUDA Lane,^{S.P' Road,} Secunderabad-50003, n"p.'uv 'ti-artt'".ized^Slgnatory.

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"^"Applicant'

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Versus

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1, Mr. Munukuntla^Aniaiah, s/o. Munukuntla^GoPal Age: 42 Years,^{Occ: Business,} H.No. 5-105,^{NearShivalayam,} Pedda Amberpet,^{Ranga Reddy District'}

¶8

Also at:

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Mr. Munukuntla^Anjaiah, clo. 4-19-26,^{Plot No. 26, Road No'3,} HUDA sai Nagar,^{VanasthaliPuram,} Hyderabad-500070.

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Mrs. Munukuntla^Swathi Wo.^Aniaiah, Age: 36 Years, Occ:^Housewife, H.No. 4-13-26, Plot^{No'26, RoadNo'3,} HUDA Sai Nagar, VanasthaliPuram. Hyderabad-sooo7o.

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,....Defendants

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counsel for the Applicant

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: Mr. M.Srinivas Reddy

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Defendants : Exparte f2lW _z v <tA

oA.NO.6s112022

:: ORDER::

The Applicant Bank filed the present OA for the recovery a sum of Rs.27,33,696.96ps from the defendants joinuy and severally future interest @ 18o/o p.a. compounded with monthly rests frcm L3.06.2022 till the date of realization along with costs and default for sale of OA hypothecated vehicle.

¶19

Summons sent to D1 & 2. They were set exparte on 09.72.2022 as called absent and no representation.

¶20

The Applicant Bank examined D.Shyam Kumar Reddy, Asst. Vice President, as AW-1 and marked g documents through him as Ex. A.1 to Ex. A.8.

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Ld. 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 enti ed for the claim made in the OA against the Defendants and OA hypothecated vehicle?

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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.8 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendants. Hence/ I hold that the Defendants are joinuy and severally liable to pay the OA claim to the Applicant Bank with future interest and costs. firy"'n

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oa.No.551/2022

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In the result, the^present Original Application No.651/2022 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.27,33,696.96ps with future interest @ 10o/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 entitled to proceed against the person and properties of defendants for realization of its dues; and

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iv) the applicant bank is entitled for the costs.

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The Applicant Bank is directed to file Cost lvlemo within 2 weeks from the date of receipt of this Order.

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Issue Recovery Certifl cate accordingly.

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Communicate a copy of this order to the^parties concerned. (Dictated tothe steno, signed and pronounced by me in the open court on this the 2os Day of March,2024).

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dW*'n (RAIqESHWAR KOTHE) PRESIDING OFFICER

Yes Bank Limited v. Munukuntla Anjaiah

Case brief

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Yes Bank Limited v. Munukuntla Anjaiah

Case brief

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