Allowed

Hdfc Bank Ltd. v. M/S. G.D. Textiles

DRT20 Jun 2025OA/248/2023

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed the Applicant Bank's original application for recovery of Rs. 86,73,243.01 with future interest and costs, holding joint and several liability secured by mortgage and ordering a recovery certificate.

What did the court decide?

Defendants to pay sum of Rs.86,73,243.01 with future interest, secured by mortgaged property; Applicant bank entitled to proceed against defendants for recovery and costs awarded.

Hdfc Bank Ltd. versus M/S. G.D. Textiles — Contract and Commercial Disputes | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDEMBAD

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DATED THIS THE 2OTH DAY OF JUNE, 2025 PRESENT; SH. RAMESHyjTIglHF,B.Com., L.LB. (Hons.), M,A. PRESIDING OFFICER

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ORIGINAL APPLICATION No: 248 OF 2023

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HDFC Bank Ltd., !gulls^{ts office at # 1-10_60/3} 3'" Floor, Suryodaya Complex Begumpet, Hyderabad - 500016 Rep. by its Authorized Signatory.

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.....Applicant.

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Versus

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M/s.GDTextiles Rep by its^proprietor Mr. Piyush Dharamchand Shah D.No.12-775, Near Govt. Area Hospital,^pandit Nehru Road, Adoni, Kurnool District - 51g301, A.p.

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Mr.Piyush Dharamchand Shah S/o. Dharamchand Gulabchand Aged about 50^years, Occ: prop. Of M/s. G D Textiles, R/o.H,No.15_386/1 Victoria^peta, Near HDFC Bank Ltd., Adoni, Kurnool District-518301, A.p.

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Mr. Narendra D Shah, S/o.Dharamchand Aged about 66^years, Occ: Business H.No. 15-386/1, Victoria peta Near HDFC Bank Ltd., Adoni Kurnool District-518301, A.p.

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Mr. Rasiklal Dharamchand Shah S/o. Dharamchand Gulabchand Aged about 66^years, Occ: Business H.No. 15-386/1, Victoria peta Near HDFC Bank Ltd., Adoni Kurnool District-S18301, A.p.^,ffivf

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oA.NO.248/2023

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M/s.DGEnterprises' Reo bv its^{ProPrietor i'tr':aYesn} Rasiklal Shah,^D'No'12-775 Near Govt.^{Area Hospital} Pandit^{NehruRoad, Adoni,} Kurnool^District -^{518301, A'P'}

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- Mr.^{JaYesh RasiklalShah} Sio Rasiklal^{DharamchandShah} ng"O aOout^{31 Years, Occ:Prop-'^Of..} ^ o'C-rnterprlses,^{R/o' H'No'1 5-386/1C} Victoria^{Peta, NearHDFC Bank Ltd} Adoni,^{Kurnool District - 518301, A'P'}

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. . . Defendants

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Counsel^{for the APP|icant} Defendants

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: M/s. M.Srinivas^Reddy

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: Ex-parte

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:: ORDER^::

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The Applicant^{Bank filed the present OA for the recoverya total} sum of^{Rs.86,73,243.01psfrom the defendantsjointly and} severally with^{future interest@18o/o p'a' from the date of} application^{till the date of realization along with costs and in} default for sale^{of OA scheduleproperty'}

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SummonsservedonDland5throughpaperpublication' Summons^{served on D2 and 6, whereas summonssent to D3} and4returnedwithendorsementrefusedhence,deemedtobe served.TheywereSetex-parteon17.10.2023ascalledabsent and no representation.

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The Applicant^{Bank examined SumayaShaik, Legal Manager,as} AW-1 and marked^{14 documents through her as Ex' A'1 to Ex'} A.14. N*"

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oa.No .24a12023

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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 sciedute property?

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

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In the result, the present Original Application No.24g12023 is allowed as under: -

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i) The Defendants are joinHy and severally liable to pay to the Applicant Bank a sum of Rs.86,73,243.01ps with future interest @10.5olo 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 mortgage of property described in the schedule annexed to the OA and the applicant bank is entitled to proceed^ against the same to realise its oeot; /ffi179 (_/

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oA.NO.248/2023

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

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iv) the^{applicant bank is entitledfor the costs'}

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The Applicant^{Bank is directed to file Cost Memo within2 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,signedand pronounced by me in the open courton} this the 20th DaY^{ofJune, 2025).}

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.{ltvnn--7.'*1uq fi.o'(R)(MESHWAR KOTHE) PRESIDING OFFICER

Hdfc Bank Ltd. v. M/S. G.D. Textiles

Case brief

What is this about?

What did the court decide?

Hdfc Bank Ltd. v. M/S. G.D. Textiles

Case brief

What is this about?

What did the court decide?

What the court decided

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