Allowed

Hdfc Bank v. Renuka

DRT19 Sept 2024OA/665/2023

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed the Applicants application filed by HDFC Bank Ltd. for recovery of dues from the Respondent Defendants. The Bank was held entitled to recover the principal amount with interest and was also allowed to proceed against the hypothecated vehicle and other properties of the Defendants.

What did the court decide?

Directed Defendants to pay Rs. 21,84,916.39 with future interest; secured via hypothecated vehicle; entitled to proceed against personal properties; Issued Recovery Certificate; Directed to file Cost

Hdfc Bank versus Renuka — Contract and Commercial Disputes | DRT (2024)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD DATED THIS THE 19th DAY OF SEPTEMBER,2024

¶2

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

¶3

ORIGINAL APPLICATION No: 665 OF 2023

¶4

HDFC Ban k Ltd., Having its office at # 1-10-60/3, 3'd Floor(34), Su ryodaya Complex, Begumpet, Hyderabad - 500016. Rep. by its Authorized Signatory.

¶5

.... .Applica nt.

¶6

Versus

¶7

Renuka Palagiri S/o. Palagiri Raja, Occ: Business, Age 30 Years, R/o. H. No.4/3 Kuppaguttapalli, Bhagampalli, T Sundupalli Ma ndal, Cuddapah,

¶8

Cuddapah Dist, Andhra Pradesh- 516130.

¶9

Ven kata ra mana Cheruvu S/o.Cheruvu Ramachandra, Occ: Business, age 55 Years,

¶10

R/o. H. No.4/3 Kuppaguttapalli, Bhagampalli, T Sundupalli Mandal, Cudda pah, Cuddapah Dist, Andhra Pradesh-516130.

¶11

Ravi Kumar Cheruvu, S/o.Cheruvu Ra machand ra, Occ: Business, age 33 Years, R/o. H. No.4/3 Kuppagutta pa lli, Bhagampalli, T Sundupalli l.4a nda l, Cuddapah, Cuddapah Dist, Andhra Pradesh-516130.

¶12

... Defendants

¶13

Cou nsel for the Applicant

¶14

Defendants

¶15

: M/s.Srihari Bathina

I Ex-pafteewiqt

oA.NO.665/2023

::^qLLEE ::

The Appllcant Bank^{filed the present OA for the recovery a total} sum of Rs.21,84,916.39ps^{from the defendantsjointlyand} severally with interest @^{12.O4o/o& 9.25% for loan accounts} 84065927 & 9314429^{respectively per annum along withfuture} interest @ 2olo^{per month (contractual rate of interest)From the} date of application till the^{date of realizationalong with costs} and in default for sale^{of hypothecated vehicle.}

¶21

Summons sent to^D1 to 3^{returned withendorsementrefused} hence, deemed to be served.^{They were set ex-parteon} 05.72.2023 as called absent^{and no representation.}

¶22

The Applicant Bank examined^{SumayaShaik,Legal Manager,as} AW-1 and marked O5 documents^{through her as Ex. A.1 to Ex.} A.05.

¶23

Ld. Counsel for the^{ApplicantBank reported ordersmay be} passed through merits. Perused the material^{placed on record.}

¶24

The^point that arises^{for considerationis:-}

¶25

whether the Applicant Bank^is entitled for the claim made in the^{OA against} the Defendants and oA^hypothecated vehicle?

¶26

As stated supra, the^{Defendants remained ex-parte. The} Evidence Affidavit coupled with the^{recitals in the documents} viz., Exs.A.l to A.O5 marked on^{behalf of the ApplicantBank} clinches the claim of the^{Applicant Bank against the Defendants.} Hence, I hotd that the^{Defendantsare jointly and severallyliable} rXw.. A{lxt\

¶27

oA'No'56s/2023

¶28

¶29

OA^{claim to the Applicant Bank with futureinterest}

¶30

to PaY^the and^costs'

¶31

present^{Original ApplicationNo'665/2023is}

¶32

7.^{In the result' the} allowed^{as under:}

¶33

The^{Defendants are iointly and severally}

¶34

i) rlaur"^{to=pai-totn" nppritant Bank a sum of} ns'zl'e+1910'rsps^{with futureinterest} @8'25%^{P'a' simPle from the date of} application^{till the date of realization;}

¶35

ii) the^{OA claim issecured bY way of} hypothecation^{of vehicle described in the} schedule^{annexed tothe OA and the} applicant^{bank is entitledto proceed against} the same^{to realiseits debt;}

¶36

iii) the^{applicant bank is also entitled to proceed} against the^{person and propertiesof} defendants^{for realization of its dues;}

¶37

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

¶38

The Applicant^{Bank is directed to file Cost Memo within2 weeks} from the date^{of receipt of this Order'}

¶39

Issue Recovery^{Certificate accordingly'}

¶40

Communicate^{a copy of this order to the parties concerned'} ' -- (Dictated to the^{steno, ior.i"ttto,signedand pronouncedbyme in the open court on} this the 19th^{Day of September, 2024)'}

¶41

OW*, (Rh(ESHWAR KOTHE) PRESIDING^OFFICER

Hdfc Bank v. Renuka

Case brief

What is this about?

What did the court decide?

Hdfc Bank v. Renuka

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

Similar cases

Farhana K C versus Canara Bank

Bank of Baroda (E-Vijaya Bank) versus Sh.Sukhavinder Singh

Union Bank of India (E-Andhra Bank) versus M/S Jmb Steel

Punjab National Bank versus Paramdeep Singh

Bank of Baroda versus Nitu Devi

Union Bank of India versus Ms Sunita Enterprises