Allowed

Kotak Mahindra Bank Limited v. M/S. Venkat Sri Automotives

DRT9 Oct 2025OA/10/2025

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed recovery application filed by Kotak Mahindra Bank against four defendants. Court declared defendants jointly and severally liable to pay loan dues, future interest, and costs, with security over mortgaged properties.

What did the court decide?

Defendants declared jointly and severally liable to pay loan dues with future interest and costs; bank entitled to proceed against mortgaged properties and personal assets.

Kotak Mahindra Bank Limited versus M/S. Venkat Sri… — Contract and Commercial Disputes | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL.II AT HYDERABAD DATED THIS THE OgTH DAY OF OCTOBER, 2025

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

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ORIGINAL APPLICATION No: 10 OF 2025

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Kotak Mahindra Bank Limited., Having its Branch at 6-3-1109/1 2nd Floor, Legal Department, Nava Bharat Chambers, Rajbhavan Road Somajiguda, Hyderabad - 500082. Rep. by lts Authorized Signatory.

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.....Applica nt.

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Versus

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M/s. Ven kat Sri Automotives., Rep by its Managing Partner Sri. V. Vinod Kumar, Having its Office H. No.1- 180, Undi Road Near Venkateswara Swamy Temple Narasimhapuram, Bhinavaram Andhra Pradesh - 534202.

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Sri. V. Vinod Kumar, S/o. Late V. Soma Sekar Aged about 41 Years, Male Occ: Business, Resident of^{Plot No.252} Hema Nagar Colony, Road No.8 Boduppal, Uppal, Hyderabad Telangana - 500039.

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Sri. D. V. Prabha kar S/o. D. Rama Murthy, Aged Major N4ale, Resident of Plot No.383 Vasanth Nagar, Near Shivalayam Hydernagar, Kukatpally, Hyderabad - 500085.

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Smt. V. Sunitha @V.Sunitha Mohan Wo.^{Gundeti ChandraMohan} Aged about 40 Years, Female Occ: Business, Plot No.252,^{Hema Nagar} Colony, Road No.8, Boduppal, Uppal,^Hyderabad Telangana - 500039.

l/X'e"out'ndunr'

oA.NO,10/2025

Counsel for the Applicant

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: M/s. R. Rajendra Prasad

Defenda nts

: Ex-parte

:: ORDER ::

The Applicant Bank filed the present OA for the recovery a total sum of Rs.1,88/44,777.93ps as on 27.Lt.2O24 i.e., a sum of Rs.7,34,02,754.97ps towards Loan A/c. No.1413089002, a sum of Rs.46,88,193/- towards Loan A/c. No.1413079928, a sum of Rs.6,26,340.80ps towards A/c. No.7807CLO1OOOOOOO5 and a sum of Rs.7,27,422.I6ps towards Loan A/c. No. 7807TL0100000110 from the defendants jointly and severally with future interest from the date of application till the date of realization along with costs and in default for sale of OA schedule properties.

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Summons served on D1 to 4 through paper publication. They were set ex-parte on 29.07.2025 as called absent and no representation.

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The Applicant Bank examined K.Balaji Rao, Legal Manager, as AW-1 and marked 66 documents through him as Ex. A.1 to Ex. A.66.

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Ld. Counsel for the Applicant Bank reported orders may be

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passed through merits. perused the material placed on record.

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The point that arises for consideration ls:_

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Whether the Applicant Bank is enti ed for the claim made in the OA against the Defendants and OA schedule properties? oY__"

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oA.NO.10/2025

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As stated supra, the Defendants remained ex-parte. The Evidence Affldavit coupled with the recitals in the documents viz., Exs. A.1 to A.66 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 to^pay the OA claim to the Applicant Bank with future interest and costs.

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In the result, the present Original Application No.10/2025 is allowed as under: -

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i) The Defendants are^jointly and severally liable to pay to the Applicant Bank a total sum of Rs.1,88,44,711.93ps as on 27.tt.2024 i.e., a sum of Rs.7,34,02,754.97ps towards Loan A/c. No. 1413089002, a sum of Rs.46,88,193/towards Loan A/c. No.1413079928, a^{sum of} No.

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Rs.6,26,340.80ps towards A/c. 7807CL0100000005 and a sum^of Rs.7,27,422.76ps towards Loan A/c.^No. 7807TL0100000110; with future^interest @9.20olo^{p.a. simple from the date of} application till the date of^reallzation;

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ii) the OA claim is secured by way of^mortgage of properties described in the^schedule annexed to the OA^{and the applicant bank is} entitled to^proceed against^{the same t0} realise its debt; ,fuc* ' l), 'o:*

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oA.NO.10/2025

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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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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, corrected, si8ned and pronounced by me in the open court on this the 09rh Day of October, 2025).

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PRESIDING OFFICER

Kotak Mahindra Bank Limited v. M/S. Venkat Sri Automotives

Case brief

What is this about?

What did the court decide?

Kotak Mahindra Bank Limited v. M/S. Venkat Sri Automotives

Case brief

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What did the court decide?

What the court decided

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