Allowed

Hdfc Bank Ltd. v. M/S. Sri Balaji Granites

DRT14 Aug 2025OA/18/2024

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed the debtor bank's Original Application ex-parte due to respondent absence, directing joint and several payment of outstanding dues and interest, securing the claim via hypothecated assets, and issuing a Recovery Certificate.

What did the court decide?

Defendants are directed to pay Rs. 58,19,862.23 with interest; claim secured by hypothecation; Recovery Certificate issued.

Hdfc Bank Ltd. versus M/S. Sri Balaji Granites — Contract and Commercial Disputes | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD

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DATED THIS THE 14TH DAY OF AUGUST, 2025

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PRESENT: SH. RAMESHWAR KOTHE, B.Com., L.LB. (Hons.), t4.A.

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PRESIDING OFFICER

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ORIGINAL APPLICATION No: 18 OF 2024

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H DFC BanK Ltd., Having its office at # 7-70-60/3, 3'd Floor, Suryodaya Complex, Begum pet, Secunderabad Mandal Hyderabad - 500016. Rep. by its Authorized Signatory.

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.....Applica nt.

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Versus

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M/s. Sri Balaji Granites., A Partnership Firm, Rep by its Partners Having its Office at Survey No.466/A 4661H & 466/J, Near HP Petrol Pump Odyaram Village, Gangadhara Mandal Karimnagar District - 505524.

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Mr. Praveen Kumar Agarwal S/o. Gyarsilal Agarwal, Aged about 56 Years Occ: Business, Partner of M/s.Balaji Granties, R/o. Plot No.124, sth Floor New Friends Colony - 2, Attapur Hyderabad District - 500048.

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l4r.Ankit Agarwal, S/o.Praveen Agarwal Aged about 3l Years, Occ: Business Partner of M/s.Sri Balaji Granties R/o. Plot No.124, 5th Floor New Friends Colony - 2, Attapur Hyderabad District - 500048.

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Also at: -

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Mr.Ankit Agarwal. Office at Survey No.466/A 466/H & 466/J, Near HP Petrol Pump Odyaram Village, Gangadhara Mandal Karimnagar District - 505524. /?lt{I.. ,9. ... Defendants .z..^$B'

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oA.NO.18/2024

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Counsel for the Applicant Defendants

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: lY/s. M. Srinivas Reddy

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: Ex-parte

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:: qLLq& ::

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The Applicant Bank filed the present OA for the recovery a total sum of Rs.58,19 ,86Z.Z3ps from the defendants joinuy and severally with future interest @18% p.a. from the date of application till the date of realization along with costs and in default for sale of hypothecated assets.

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Summons served on D1 to 3. They were set ex-parte on L2.O6.2024 as called absent and no representation.

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The Applicant Bank examined A S Adithya, Legal Manager, as AW-1 and marked 11 documents through her as Ex. A.1 to Ex. A.11.

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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 arises for consideration is:-

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Whether the Applicant Bank is enti ed for the claim made in the OA against the Defendants and OA hypothecated assets?

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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.11 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendants. Hence. I hold that the Defendants are joinfly and severally liable to pay the OA claim to the Applicant^Bank with future interest and costs. //frV ".P U''rnuo

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oA.NO.18/2024

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In the result, the present Original Application No.1gl2024 is allowed as under: -

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i) The Defendants are joinfly and severally liable to pay to the Applicant Bank a sum of Rs.58,19,862.23ps with future interest @11.15olo 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 assets described in the schedule annexed to the OA and the applicant bank is entitled to proceed against the same to realise its debt;

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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 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, signed and pronounced by me in the open court on

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this the 14th Day of August, 2O2S).

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trtp (.rx (RAMESHWAR KOTHE) PRESIDING OFFICER

Hdfc Bank Ltd. v. M/S. Sri Balaji Granites

Case brief

What is this about?

What did the court decide?

Hdfc Bank Ltd. v. M/S. Sri Balaji Granites

Case brief

What is this about?

What did the court decide?

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