Allowed

Hdfc Bank Ltd., v. Yeduguri Sandinti Abhinav Reddy

DRT6 Feb 2025OA/7/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the bank's original application for recovery of a debt of Rs.52,88,328/- with interest and costs against two respondents who remained ex-parte, confirming the bank's right to proceed against the hypothecated vehicle and the respondents' properties.

What did the court decide?

Directly ordered the defendants to jointly and severally pay the bank Rs.52,88,328/- with future interest, proceeded against the hypothecated vehicle, and allowed proceedings against the respondents'

Hdfc Bank Ltd., versus Yeduguri Sandinti Abhinav Reddy — Banking and Recovery | DRT (2025)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD DATED THIS THE O6th DAY OF FEBRUARY, 2025

¶2

PRESENT: SH. RAMESHWAR KOTHE, B.Com., L,LB. (Hons.), T4.A. PRESIDING OFFICER

¶3

ORIGINAL APPLICATION No: 07 OF 2024

¶4

H DFC Bank Ltd., Having its office at # 1-10-60/3, 3'd Floor, Suryodaya Complex, Opp Shoppers Stop, Begumpet, Hyderabad - 500016. Rep. by its Authorized Signatory.

¶5

.....Applica nt.

¶6

Versus

¶7

Mr.Yeduguri Sandinti Abhinav Reddy,

¶8

S/o. Madhan Mohan Reddy Yeduguri Sandinti, Plot No.144, F.No.301, Ave 2, Road No.3,

¶9

BMR Residency, Kakatiya H ills, Madhapur Near Vijetha Super Market, Hyderabad - 500081.

¶10

Also at: -

¶11

Mr.Yeduguri Sandinti Abhinav Reddy, S/o. Madhan Mohan Reddy Yeduguri sandlnti, D,No.5-35-304/82, 1st Floor, Mythrinagar, IDA, Kukatpally, Hyderabad - 500072.

¶12

Permanent Address:Mr.Yeduguri Sandinti Abhinav Reddy, S/o. Madhan Mohan Reddy Yeduguri Sandinti, H. No.1-5A, Ambakapalli Road, PUlivendula, Cuddapah, Andhra Pradesh - 516390.

¶13

Ms.Sanikommu Krishna Chaitanya, D/o. M r.Tirupathi Reddy Sanil,o^^u,ry*

¶14

oA,NO.O7 /2024

¶15

Plot No.144, F.No.301, Ave 2, Road No.3, BMR Residency, Kakatiya Hills, lvladhapur Near Vijetha Super lYarket, Hyderabad - 500081.

¶16

Permanent Address:H.No.5-3-403/4/404,^ptot No.11/12, Sheshadrinagar, Ku katpa lly, Hydera bad - 500072.

¶17

... Defendants

¶18

Counsel for the Applica nt :M/s.N.B.Sudarshan Defendants :Ex-parte

¶19

:Ex-parte

¶20

:: ORDER ::

¶21

The Applicant Bank filed the present OA for the recovery a total sum of Rs.52,88,328/- frcm the defendants joinuy and severally with future interest @24olo p.a. from the date of application till the date of realization along with costs and in default for sale of hypothecated vehicle.

¶22

Summons served on D7 and Z. They were set ex-parte on 27.09.2024 as called absent and no representation,

¶23

The Applicant Bank examined Sumaya Shaik, Legal Manager, as AW-1 and marked 08 documents through her as Ex. A.1 to Ex. A.08.

¶24

Ld. Counsel for the Applicant Bank reported orders may be passed through merits. perused the material placed on record.

¶25

5, The point that arises for consideration is:- fu"

¶26

oA,NO.07l2024

¶27

¶28

Whether the Applicant Bank is entitled for the claim made in the OA against the Defendants and OA hypothecated vehicle?

¶29

As stated supra, the Defendants remained ex-parte. The Evidence Affidavit coupled with the recitals in the documents viz., Exs.A.1 to A.08 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.

¶30

In the result, the present Original Application No.0712024 is allowed as under: -

¶31

i) The Defendants are jointly and severally liable to pay to the Applicant Bank a sum of Rs.52,88,328/- with future interest @8.50o/o p.a. simple from the date of application till the date of realizatlon;

¶32

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 reallse its debt;

¶33

iii) the applicant bank is also entitled to proceed against the person and properties of defendants for realization of its dues;

¶34

iv) the applicant bank is entitled for the costs.

¶35

oA.NO.07l2024

¶36

¶37

B. The Applicant Bank is directed to file Cost Memo within 2 weeks from the date of receipt of this Order.

¶38

Issue Recovery Certificate accordingly.

¶39

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 05th Day of February, 2025).

¶40

ffi*v ESHWAR KOTHE) PRESIDING OFFICER

Hdfc Bank Ltd., v. Yeduguri Sandinti Abhinav Reddy

Case brief

What is this about?

What did the court decide?

Hdfc Bank Ltd., v. Yeduguri Sandinti Abhinav Reddy

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

Coram

Case details

Similar cases

Hdfc Bank versus Devi Rice Traders

Bank of India versus M/S Meghana Enterprises

Sri Sampath Kumar Kulkarni versus Indian Overseas Bank

mohammad esa versus Iifl Home Finance Limited

Hdfc Bank Ltd., versus Gudapati Ashwini

Union Bank of India versus M/S Kamakshi Infra