Allowed

Axis Bank Limited v. Koduru Sai Kumar Goud

DRT28 Jan 2025OA/9/2024

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed an application filed by Axis Bank Limited for recovery of a sum of Rs. 32,55,819 along with future interest. The court held the defendants liable and allowed the sale of the hypothecated vehicle.

What did the court decide?

Response of defendants' assets recovery certificate issued against the past payment of a sum of Rs. 32,55,819 with future interest @10.45% p.a. simple from the date of application till the date of rea

Axis Bank Limited versus Koduru Sai Kumar Goud — Contract and Commercial Disputes | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDEMBAD DATED THIS THE 28th DAY OF FEBRUARY, 2025

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PRESENT: SH, RAIYESHWAR KOTHE, B.COM., L.LB.^{(HONS.), M.A.} PRESIDING OFFICER

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ORIGINAL APPLICATION NO: 09 OF 2024

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The Axis Bank Limited., Having it Offlce at 5-4-183/184, 3'd Floor, R.P Road, Secunderabad-500003. Rep. by its Authorized Signatory.

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... . .Applica nt.

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Versus

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Mr. Koduru Sai Kumar Goud, S/o.Anjaneyulu Koduru, Aged about 29 Years, Occ: Business, R/o.H.No. 1-25-3618, Brundavan Nagar, Alwal, Medchal, Hyderabad - 500010.

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Also at:-

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lvlr. Koduru Sai Kumar Goud,

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R/o. H. No.1-27-93, Subhash^Nagar, Thirumalaglri, Hyderabad - 500015.

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Mr.K.Anjaneyulu, S/o.Gauraiah.K, Aged about 60 Years, Occ:^Business, R/o.H.No.1-25-3618, Brundavan^Nagar, Alwal, Medchal, Hyderabad -^500010.

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Also at:-

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14 r. K.Anja neyulu,

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R/o.H.No.1-27-93, Subhash^Nagar, Thirumalagiri, Hyderabad -^500015.

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. .. Defendants

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Counsel for the Applicant : M/s. M.Srinivas Reddy

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Defendants : Ex-parte

1ft*s

oA.NO.09/2024

:: ORDER ::

The Applicant Bank filed the present OA for the recovery a total sum of Rs.32,55,819/_ from the defendants joinUy and severally with future interest @1go/o p.a. from 27.07.2023 ti| the date of realization along with costs and in default for sale of hypothecated vehicle.

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Summons served on D1 and 2. They were set ex_parte on 02.07.2024 as called absent and no representation.

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The Applicant Bank examined Syed Shafiuddin, Senior Manager, as AW-1 and marked 17 documents through him as Ex. A.1 to Ex. A. 17.

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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 is:_

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Whether the Applicant Bank is enti ed for the claim made in the OA against the Defendants and OA hypoth;cabd vehicle?

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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.17 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendants. Hence, I hold that the Defendants are joinHy and severally liable to pay the OA claim to the Applicant Bank with future interest and costs.

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ffi(--"

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oA.NO.09/2024

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In the result, the present Original Application No.09/2024 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.32,55,819/- with future interest @10.45% 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 vehicle 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 thls the 28th Day of February, 2025).

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NW (RATIESHWAR KOTHE) PRESIDING OFFICER

Axis Bank Limited v. Koduru Sai Kumar Goud

Case brief

What is this about?

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Axis Bank Limited v. Koduru Sai Kumar Goud

Case brief

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