Allowed

Hdfc Bank Ltd., v. M/S City Car Service Machinery Service and Automobiles

DRT30 Aug 2024OA/824/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the bank's application for recovery of dues of Rs. 32,78,950.81 along with future interest and costs against the respondents who remained ex-parte. The court held the respondents jointly and severally liable and secured the claim via hypothecated assets.

What did the court decide?

Respondents to pay Rs. 32,78,950.81 plus future interest and costs; bank entitled to realize dues from hypothecated assets and properties.

Hdfc Bank Ltd., versus M/S City Car Service… — Contract and Commercial Disputes | DRT (2024)

¶1

IN THE DEBTS RECOVERY TRIBUNAL.II AT HYDERABAD DATED THIS THE 30th DAY OF AUGUST, 2024

¶2

PRESENT: SH. RAMESHWAR KOTHE/ B.Com., L.LB.^(HONS.), M.A. PRESlDING OFFICER

¶3

ORIGINAL APPLICATION No: 824 OF 2023

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HDFC Ban k Ltd., Having its office at # 1-10-60/3, 3'd Floor, Suryodaya Complex, Begumpet, Secunderabad Manda l, Hyderabad - 500016. Rep. by its Authorized Signatory.

¶5

.....Applica nt.

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Versus

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lY/s.City Car Service Machinery Service & Automobiles, Rep by its proprietor

¶8

14r.Nalluri Mohan, Office at 9-341,

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Prashanth Nagar, Near Govt. High School, Kothagudem, Badardri, Telangana - 507101.

¶10

Mr.Nalluri lvlohan, S/o.Nalluri Yesu, Aged about 37 Years, Occ: Proprietor of lvl/s.City Car Service machinery Service & Automobiles, R/o.H.No.9-341, Prashanth Nagar, Near Govt. High School, Kothagudem, Bada rdri, Telangana - 507101.

¶11

lvlrs. Nalluri Su hasini, Wo.Nalluri^{Moha n,} Aged about 37 Years, Occ: Housewife, R/o. H. No.9-341,Prashanth Nagar, Near Govt. High School, Kothagudem, Badardri, Telangana - 507L01. a--

/\ffor

...Derendants

oA.NO.82412023

Cou nsel for the Applicant

¶16

: M/s. M.Srinivas Reddy

Defenda nts

:Ex-parte

:: qLLEE::

The Applicant Bank filed the present OA for the recovery a total sum of Rs.32,78,950.81ps from the defendants^jointly and severally with future interest @ 18o/o p.a. with quarterly interests from the date of application till the date of realization along wlth costs and in default for sale of hypothecated asset.

¶21

Summons served on D1 to 3. They were set ex-parte on 74.03.2024 as called absent and no representation.

¶22

The Appllcant Bank examined Sumaya Shaik, Legal Manager, as AW-1 and marked 07 documents through her as Ex. A.1 to Ex. A.O7 .

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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 arlses 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 asset?

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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.07 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendants. Hence, I hold that the Defendants are^jointly and severally liable

dYn**

oA.NO.82412023

to pay the OA claim to the Applicant Bank with future interest and costs.

¶31

In the result, the present Original Application No.824/2023 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.32,78,950.81ps with future interest @ 9.88o/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 asset described in the schedule annexed to the OA and the applicant bank is entitled to proceed against the same to realise its debU

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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^{within2 weeks} from the date of receipt of this Order.

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Issue Recovery Certificate according ly.

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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 30th Day of August,^2024).

¶39

Azdrv'\ Esnwih KorHE) PRESIDING OFFICER

Hdfc Bank Ltd., v. M/S City Car Service Machinery Service and Automobiles

Case brief

What is this about?

What did the court decide?

Hdfc Bank Ltd., v. M/S City Car Service Machinery Service and Automobiles

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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