Allowed

Hdfc Bank Ltd., v. Mr.Yadagiri Ayithagoni

DRT23 Feb 2024OA/711/2022

Case brief

AI extract

What is this about?

In a Debt Recovery Tribunal proceeding, the Presiding Officer allowed the applicant bank's original application seeking recovery of Rs. 23,03,099.37 with interest from two defendant-borrowers who remained in absentia, holding them jointly and severally liable.

What did the court decide?

Defendants held jointly and severally liable to pay Rs. 23,03,099.37 with 9.65% interest; OA claim secured by hypothecated vehicle; entitled to proceed against defendants' properties for realization;

Hdfc Bank Ltd., versus Mr.Yadagiri Ayithagoni — Execution and Attachment | DRT (2024)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDEMBAD

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DATED THIS THE 23.d DAY OF FEBRUARY, 2024

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

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PRESIDING OFFICER

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Original Application No: 771 OF 2022

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HDFC Bank Ltd., l-:..0-60/3, 3d Floor (3A), Suryodaya Complex, Begumpet, Hyderabad-500016, Rep. by its Authorized Signatory.

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.....Applicant.

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Versus

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Mr. Yadagiri Ayithagoni,

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S/o. A. Narasimha, Occ: Business, Age: 42 Years, H. No.3-9-553/56, Ground Floor Ammadaya Colony, Mansooraiad, Hyderabad, Andhra Pradesh (Now Telangana)

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Ayithagoni Parvathamma, Wo^{A. Yadagiri,Age: Major,} Occ: Business, H.No.3-9-553/56, Ground Floor, Ammadaya Colony, Mansooraiad, Hyderabad, Telangana-500068

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..Defendants

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: Mr. Srihari Bathina Counsel for the Applicant

Defendants

: Exparte

:: qLLER::

The Applicant Bank filed the present OA for the recovery a sum of Rs.23,03,099.37/- from the defendants jointly and severally with future interest @ 9.89o/o and @ 9.650lo p.a. to their respective accounts 84131598 & 8903768 from the date of ,a^\ir., ^^

A 6.uu-^'

oA.NO.711l2022

application till the^{date of realizationalong withcostsand in} default for sale^{of OAhypothecatedvehicle.}

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Summons served on^D1 &^{2 through paper publication' They} were set exparte on^{05.10.2023as called absentand no} representation.

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The Applicant Bank^{examined Y. Nikhila,LegalManager, as AW-} 1 and marked 4 documents^{throughher as Ex' A.1 to Ex' A'4'}

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Ld. counsel for the^{Applicant Bank reportedorders 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^hYpothecated vehicle?

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As stated supra,^{the Defendantsremainedex-padeThe} Evidence Affidavit coupled^{with the recitals in thedocuments} viz., Exs. A.1 to A.4^marked on^{behalfof the ApplicantBank} clinches the claim^{of the ApplicantBankagainstthe Defendants'} Hence, I hold that the^{Defendants are jointly and severallyliable} to^pay the OA claim to^{the Applicant Bankwith future interest} and costs.

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In the result, the^{present Original ApplicationNo.71112022is} allowed as under:^-

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i) The Defendants are^jointly and^severally liable to^pay to the^{Applicant Banka sum of} Rs.23,03,099.37l- with future interest @ A$.n'^

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oA,NO.7tLl2O22

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9.6590 P.a. simple^{from the dateof} application till the^{date of realization;}

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ii) the OA claim is secured^{bY way of} hypothecation of^{vehicledescribedin the} schedules annexed to the^{OA and the} applicant bank is entitled to^{proceed against} the same to^{realiseits debt;}

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

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iv) the applicant bank^{is entitled for the costs.}

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B. The Appllcant Bank is directed^{to flle Cost Memo wlthin 2 "reeks} 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 partiesconcerned.} (Dictated to thesteno, signed and pronounced by me in the open court on thisthe 23'd Day of February,^2024).

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ru#

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(RAMESHWAR KOTHE) PRESIDING OFFICER

Hdfc Bank Ltd., v. Mr.Yadagiri Ayithagoni

Case brief

What is this about?

What did the court decide?

Hdfc Bank Ltd., v. Mr.Yadagiri Ayithagoni

Case brief

What is this about?

What did the court decide?

What the court decided

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