Allowed

Hdfc Bank v. Dandugula Venkatesam

DRT16 Jun 2025OA/239/2024

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed an Original Application filed by HDFC Bank against three defendants (principal borrower and two guarantors) for recovery of an outstanding loan sum of Rs.36,63,114 along with interest and costs, holding that the bank's claim was substantiated by documentary evidence.

What did the court decide?

Decreed amount of Rs.36,63,114 with future interest and costs awarded to the Applicant Bank with authority to proceed against hypothecated movables and properties.

Hdfc Bank versus Dandugula Venkatesam — Contract and Commercial Disputes | DRT (2025)

¶1

IN THE DEBTS RECOVERY TRIBUNAL.I AT HYDERABAD

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DATED THrS THE 16rH DAY OF JUNE , 2025

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PRESENT: SRI GUMMADI GOPICHAND, PRESIDING OFFICER

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OA.No.239 of 2024

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Between:

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HDFC Bank Ltd, H. No. s-9-22/ A &. 5-9-22/ 1/8, 4th floor, Shapoorji Towers, Shapoorwadi, Adarshnagar, Hyderabad - 500 063. Represented by its Manager(legal)

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Applicant

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VERSUS

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DandugulaVenkatesam/ s/o Anjaiahdandugula, aged 45 years, occ: business, R/ o 2-3-26/80, Chilakanagar, UppalRangareddy, Krishnaveni Talent school, Hyderabad, TS - 500 039.

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Smt. DandugulaKrishnaveni, W/o DandugulaVenkatesam, Aged 39 years/ occ: business, R/ o 2-3-26/ 80, Chila kanaga r, U ppal Ra nga reddy, Krishnaven i Talent school, Hyderabad - 500 039.

¶11

Sri Siva rath riVen katesh, s/o Sivarath riMaraia h, aged 49 years/ occ: business, H. No. 6-142, Munugodu village And mandal, Nalgonda district, TS - 508 244. Defendants Counsel for the For the Applican s Law Associates For the Defenda 1 6 JUil 2m,5 parte

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(OA.No.23912024)

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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.36,63,114.L4ps (Rupees Thirty Six Lakhs Sixty Three thousand One Hundred Fourteen and paise fourteen only) i.e.,

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a) a sum of Rs.31,91,288.21ps /- against defendants 1& 2 with interest @ 10o/o p.a with monthly restsfrom date of application till the date of realization;

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b) a sum of Rs.4,77,825.93ps against defendants 1 & 3 with interest @ 10.63olo^p.a with monthly restsfrom date of application till the date of realization;

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and in default for sale of hypothecated movables as mentioned in the schedule to OA.

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As per the averments in the application, the Applicant Bank states that defendant no.1 is the principal borrower and defendants no.2 & 3 are guarantors to the said loans. The defendants avalled a sum of Rs.44,39,278/- and Rs.11,13,600/-. To secure due repayment, the defendants created a first charge by way of hypothecation in favour of applicant bank. After availing the loan facilities, the defendants

¶19

failed to compl s of sanction, hence the applicant bank
classified and demand notice was issued on
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¶20

(oA. No.239/202a)

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30.04.2024. Inspite of several requests and demands, the

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defendants did not clear the outstanding. Hence this OA.

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Defendants called absent and set exparte on 15.05.2025.

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Ms. SumayaShaik, Legal Manager of the Applicant Bank examined herself as AW.1 and exhibited relevant documents, which are marked as Ex.A.1 to A.11.

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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 remainedexpa rte. To substantiate the case of the Applicant Bank, AW.1, official of the Applicant Bank was examined and she exhibited relevant documents as Ex.A1 to A.11. 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:

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The and severally liable to pay to the Appl Rs.36,63, 1 1 4.L4ps ( Rupees Thirty

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¶31

(OA. No.239/202a)

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Six Lakhs Sixty Three thousand One Hundred Fourteen and

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paise fourteen only) i.e.,

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a) a sum of Rs.31,91,288.21ps /- against defendants 1 & 2 with interest @ 10olo p.afrom date of application till the date oF realization;

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c) a sum of Rs.4,71,825.93ps against defendants 1 & 3 with interest @ 10.630lo p.a from date of application till the date of realization;

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The Applicant bank is entitled to proceed against the hypothecated movables 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 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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1_) The Applicant shall file a cost memo within two weeks from the date of rece ipt 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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by her, corrected, signed and pronounced by me in the open court on

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dt sd/-
(G. GOPTCHAND)
oFFlcER
GOPYPRESIDING
"l/.e44*^TRUE
,iffi!,:

Hdfc Bank v. Dandugula Venkatesam

Case brief

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Hdfc Bank v. Dandugula Venkatesam

Case brief

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