Allowed

Hdfc Bank Ltd. v. M/S. Arrow Impex

DRT7 Jul 2025OA/25/2024

Case brief

AI extract

What is this about?

Application filed for recovery of a loan sum with future interest and costs. Defendants appeared ex-parte. Tribunal held evidence clinched the claim and directed Defendants to pay the amount along with interest secured by mortgage properties.

What did the court decide?

Defendants directed to pay Rs. 1,85,13,291.33 with future interest; OA claim secured by mortgage properties; Recovery Certificate issued.

Hdfc Bank Ltd. versus M/S. Arrow Impex — Money Laundering | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD

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DATED THIS THE OTTH DAY OF JULY, 2025

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

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ORIGINAL APPLICATION No: 25 OF 2024

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HDFC BanK Ltd., Department For Special Operations H . No.6- 3 -246 &. 6-3-2441 A, 3'd Floor, Desk No.0196, Roxana Palladium, Road No.1, Banjara Hills, (Besides Virinchi Hospital), Hyderabad District - 500034. Rep. by its Authorized Signatory

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....Applicant.

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Versus

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M/s. Arrow Impex 8-3-820/1/2, Sri Sai Complex 5th Floor, Srinagar Colony Main Road, Yella Reddy Guda Ameerpet, Hyderabad - 500073 Telangana State.

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Also at:M/s. Arrow Impex lB, znd Floor, D.No.15-505 Venkataramapuram Main Road SPS Nellore-524001, Andhra Pradesh State.

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Mr. Haribabu Deepaga S/o. Chinna Penchalaiah Age 34 Years, Occ: Business Ramannagaripalli, Harijanawada Chintalapalem Post, Chintalapalem SPS Nellore-524001, Andhra Pradesh State.

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Mr. Mohanrao Amarthaluru S/o. Dasaradharamaiah, Age 52 Years Occ: Business, 27-3-482, Usman Sahebpet Ramnagar, SPS Nellore - 524002 r l Andhra Pradesh State. i^\ri>. ...Defendants r ,, . t

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oA.NO,25l2024

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Counsel for the Applicant

: IY.V. KINI

Defendants

: Ex-parte

::^qLqLL ::

The Applicant Bank filed the^{present OA for the recovery a total} sum of Rs.1,85,13,291.33ps as on 30,11.2023^{from the} defendants^jointly and severally^{with future interest@1870 p.a.} from the date of application till the date of^{realizationalong} with costs and in default for sale of OA^{scheduleproperties'}

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Summons served on D1 to 3 through^paper Publication.^They were set ex-parte on 03.07.2024 as called absent and^no representation.

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The Applicant Bank examlned Srikanth Sukhavasi,^{Sr. Manager,} as AW-l and marked²² documents through^{him as Ex' A'1 to} Ex. A.22.

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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 entitled for the claim made in the OA against the Defendants and OA schedule properties?

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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.33 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 Applicaqt Bank with future^interest and costs. 1ffii.itb

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oA.NO.25l2O24

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In the result, the present Original Application No.25/2024 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.1,85,13,291.33ps as on 30.11.2023 with future interest @9.5olo 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 properties 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 this the 071h Day of July, 2025). PRESIDING M,,OFFICER

Hdfc Bank Ltd. v. M/S. Arrow Impex

Case brief

What is this about?

What did the court decide?

Hdfc Bank Ltd. v. M/S. Arrow Impex

Case brief

What is this about?

What did the court decide?

What the court decided

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