Allowed

Hdfc Bank Ltd. v. Jyothi Koneti

DRT21 Mar 2024OA/669/2023

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed the bank's original application for recovery of a substantial sum along with interest and costs, holding the defendants jointly and severally liable based on ex-parte evidence.

What did the court decide?

Defendants to pay Rs. 33,47,280.18 with future interest @ 10.70% p.a., costs, and applicant bank entitled to proceed against scheduled property and defendants' properties.

Hdfc Bank Ltd. versus Jyothi Koneti — Banking and Recovery | DRT (2024)

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ffit*o""

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD

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DATED THIS THE 21s'DAy oF MARCH, 2024

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PRESENT; SH. MMESHWAR KOTHE, B.Com, L.L.B. (Hons.), M.A.

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PRESIDING OFFICER

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ORIGINAL APPLICATION No. 669 OF 2023

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H.D.F.C Bank Ltd. H.No. 1-10-60/3, 3'd Ftoor, Suryodaya Complex, Opp. Shoppers Stop, Begumpet, Hyderabad-500016 Rep by its Manager-Lega I

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...........Applicant.

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Versus

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Jyothi Koneti

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D/o. Eadaiah Budda

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Age:46^years, Occ: Business H.No. 3-59/1. Vaddariwada, Near Mother Theressa High School Ramanapeta Nalgonda Telanga na-508113

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Koneti Narsaia h S/o. Koneti Ramaiah

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A9e :48 years, Occ: Business

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H.No. 3-59/1, Vaddariwada, Near lYother Theressa High School Ramanapeta, Nalgonda, Telangana-508113. Defendants.

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Cou nsel for the Applicant : Mr. N. Sudarshan

Defenda nts

:Exparte.

ORDER

The Applicant Bank filed the present OA for the recovery ofa sum of Rs.33,47,280.18ps jointly and severally from the defendants together with interest @11.20olo per annum with dY'*

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2 oA.NO.669/2023

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monthly rests from^{the date of Applicationtill the date of} realisation along with^{costs and saleof OA scheduleproperty'}

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Summons served on^{D1 and 2 Theywere set ex-parteon} 19.70.2023, as called^{absentand no representation'}

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The Applicant Bank^{examined V. V. PavanKumar, Manager-} Legal as AW-1 and^{marked 6 documentsthrough hlm as Ex A'1} to Ex.A.6.

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Learned Counsel for the^{applicant bank reported orders maybe} passed on merits. Perused the material^{placed on record.}

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The point that arises^{for considerationis:-}

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whether the Applicant Bank^{is entitled} for the claim^made in the^{OA against} the Defendants and OA^Schedule property?

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As stated supra, defendants^{remained ex-parte. The Evidence} Affidavit coupled^{with the recltals in the documents viz , Exs Al} to A.6 marked on behalf^{of the Applicant Bank clinches the} claim of the^{ApplicantBankagainst 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.

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In the result, the^{present originalApplication No 669/2023is} allowed as under:^-

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i) the defendants^{are jointlyand severallyliable} to PaY to the^{AoplicantBank} E^{sum of} lYo

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3 oA.NO.669/2023

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Rs.33,47,280,18ps with future interest @10.7olo^p.a. simple from the date^of application i.e., lga9^{till the date} of . A 6->S 1*5 F.x Docrdl ovJer JoreJ^{or-' ot'ro>l} ) realization;

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ii) of property described in the schedule annexed to the OA and the applicant bank is entitled to proceed against the same for recovery of its dues;

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iii ) the applicant bank is also entitled to^proceed against the person and properties of the defendants for realization of its dues; and 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, signed and pronounced by me in the open court on this the 21't day of March, 2024).

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adw*' (CfiqESHWAR KorHE) PRESIDING OFFICER

Hdfc Bank Ltd. v. Jyothi Koneti

Case brief

What is this about?

What did the court decide?

Hdfc Bank Ltd. v. Jyothi Koneti

Case brief

What is this about?

What did the court decide?

What the court decided

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