Allowed

Tamilnad Mercantile Bank Limited v. M/S. Boddam Solutions Pvt. Ltd.

DRT6 Aug 2025OA/1/2025

Case brief

AI extract

What is this about?

In OA No. 1 of 2025 before the DRT-I, Hyderabad, the applicant bank sought recovery of a defaulting debt with interest against a company and three individuals. The defendants were absent as ex parte. The tribunal held the bank had substantiated its claim via documentary evidence and allowed the OA.

What did the court decide?

Defendants jointly and severally liable to pay Rs. 54,96,273.14ps with interest @ 14.600% p.a. from 01.12.2024. Administrator entitled to proceed against mortgaged and other properties for realization

Tamilnad Mercantile Bank Limited versus M/S. Boddam… — Insolvency and Bankruptcy | DRT (2025)

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IN THE DEBTS^{RECOVERYTRIBUNAL-I AT HYDERABAD}

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DATED THIS^{THE 6TH DAY OF AUGUST,2025}

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PRESENT:SRIGUMMADIGOPICHAND,PRESIDINGOFFICER OA.No.1of²⁰²⁵

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Between^:

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Tamilnad^{Mercantile BankLtd,} Mehdipatnam^branch, Hyderabad. Represented^{by its Authorised officer}

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Applicant

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VERSUS

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M/s. Boddam^{Solutions Pvt Ltd,} Plot no.344,^{2nd floor, Naina Residency} Road no.7, kakathiya^{Hills, Kavuri} Hills,^{phase-I,JubileeHills,} Hyderabad -^{500 003.}

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Mr. Boddam^{Praveen Yadav,} s/o BoddamSrisailam,^{8-3-8251 5l l,} Praveen residency,^{Sri nagar colony,} Behind Indian^Bank, Hyderabad -^{500 073.}

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Sri Pulisetti^Srinivas, s/o PulisettiVenkaiah, 25-2rl 5/2, flat^{no. 101,} Sri Mohana^{ResidencY,East} Anandbagh,^Malkajgiri, Hyderabad -^{500 047.} ?1-"1i,$ F*"$^"</sup>

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M C Anil Kumar, s/oMCShankarR 2-56/33/779, Plot ir,0^{6luc M} ; Road no.44,^near Super market,^Mad Defendants

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Hyderabad -^{500 081:} W,.$W

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(oA.No.1/202s)

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Counsel for the Pa rties: For the Applicant For the Defendants

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Dr. ShaikFaheemullah Exparte

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ORDER

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The Applicant Bank filed the present oA against Defendants for recovery of a total sum of Rs.54,96,273.14ps (Rupees Fifty Four Lakhs Ninety six thousand rwo Hundred seventy three and paise fourteen only) with interest @ 14.600lo p.a with monthly rests from 0r.12.2024 til the date of realization and in default for sale of mortgaged property mentioned in the schedule to oA.

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2' As per the averments in the apprication, the Appricant Bank states that defendant no.1 represented by defendants no.2 to 4 avaired cash credit of Rs.49 lakhs executed cash credit hypothecation agreement and letter of hypothecation of book debts etc on 26.9.2023. To secure the loan facility the defendants created mortgage of schedule mentioned property in favour of Applicant bank' After availing the loan facirity, the defendants failed to comply

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.on,^{hence the applicant} bank^classified the 03.2024 and demand notice was issued on of several requests and demands, the e outstanding. Hence this OA.

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(oA.No.1/202s)

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Defendants called absent and set exparte on 12.06.2025.

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Sri P. Kartheeswaran, Branch Manager of the Applicant Bank examined himself as AW.1 and exhibited relevant documents, which are marked as Ex.A.1to A.13.

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Heard the Ld, Counsel for the Applicant Bank.

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The point that arise for consideration is whether the Applicant Bank is entitled for the claim made in the OA against the Defendants as prayed for?

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Defendants remained exparte. To substantiate the case of the Applicant Bank, AW.1, official of the Applicant Bank was examined and he exhibited relevant documents as Ex.A1 to A.13. In view of the above, I hold that the Applicant Bank has established their claim made in the OA against the Defendants and hence the Applicant Bank is entitled to recover the claim made in the OA with future interest and costs.

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B. In the result, the present OA is allowed with costs, as under: The Defendants are jointly and severally liable to pay to the Applicant Bank a of Rs.54,96,273.L4ps (Rupees Fifty Four nd Two Hundred Seventy three and

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iid fourteen interest @ 14.600lo p.a from 01.12.2024

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(oA.No.1/202s)

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The Applicant bank is entitled to proceed against the mortgaged property as mentioned in the schedule to OA towards realization of the debt due.

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The Applicant Bank is also entitled to^proceed against the^person and properties of defendants No. 2 to 4 and properties of defendant no.lfirm towards realization of the debt due.

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The Applicant Bank is entitled to the costs of the OA.

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The Applicant shall file a cost memo within two^{weeks from the date} of receipt of order.

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Issue Recovery certificate accordingly,

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Communicate a copy of the order to the^{parties concerned.}

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(Dictated to the P.A., transcribed by her, corrected, signed and^pronounced by^{mein the opencourton} this the 6th day of Aug, 2025)

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sd/-

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(G. GOPTCHAND) PRESIDING OFFICER

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TRUE COPY
,#f'rffiJ'Y

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Tamilnad Mercantile Bank Limited v. M/S. Boddam Solutions Pvt. Ltd.

Case brief

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Tamilnad Mercantile Bank Limited v. M/S. Boddam Solutions Pvt. Ltd.

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