Allowed

Hdfc Bank Ltd., v. T Nagabushana Reddy

DRT4 Apr 2025OA/259/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the bank's original application filed for recovery of Rs. 28,29,383.98 plus interest and costs from three defendants who remained absent. The court held the defendants jointly and severally liable and directed issuance of a recovery certificate.

What did the court decide?

Defendants jointly and severally liable to pay Rs. 28,29,383.98 with future interest @10.05 p.a. from application date; OA claim secured by mortgage; bank entitled to recover from person and propertie

Hdfc Bank Ltd., versus T Nagabushana Reddy — Banking and Recovery | DRT (2025)

¶1

IN THE DEBTS^{RECOVERY TRIBUNAL'IIAT HYDEMBAD} DATED THIS^{THE O4THDAY OF APRIL,2025}

¶2

PRESENT: SH.^{MMESHWARKOTHE,B.COM.,L'LB.(HONS.),M'A.} PRESIDING^OFFICER

¶3

ORIGINAL^{APPLICATION No: 259 OF 2023}

¶4

HDFC BANK Ltd,, Havino its office at^{Bank House} # 63:246 & 6-3-244/A,^{6'h Floor,} Roxana Palladium,^{Road No.1,} Banjara Hills,^Hyderabad -^500034' Rep. by^{its Authorized Signatory'}

¶5

.....Applicant.

¶6

Versus

¶7

Mr.T. Nagabushana^ReddY, S/o. Krishna^ReddY, Aoed about 42Yeas,^{Occ: Farmer,} R/o.H.No.29163,^{Reddyvaripa lti Village,} Madhavarm, Rayachoti^{I\4a ndal,} Kadapa District -^516269.

¶8

M rs.T. Rukmlna mma, W/o.T.Krishna^ReddY, Aged about 67^{Years, Occ: Housewife,} R7o. H. No.29l63,^{Reddyvaripalli Village,} Madhavarm, Rayachoti^{Ma ndal,} Kadapa District -^516269.

¶9

Mr. P.Vijaya^{Bhaskar, S/o.Papaiah,} Aged about 48^{Years, Occ: Business,} R/o.H.No,20, Peya^{lava nd lpalli Village,} Madhavarm, Rayachoti^{Ma ndal,} Kadapa District - 576269 '

¶10

...Defendants

¶11

Counsel for the Applicant

¶12

: Mr"M.Srinivas Reddy

Defendants

:Ex-parte 0w*"

oA.NO.2s9l2023

:: ORDER ::

The Applicant Bank filed the present OA for the recovery a totat sum of Rs.28,29,383.98ps from the defendants joinUy and severally with @ 12070 p.a. from 0f.06.2022 (cash credit) @140lo & (DOD Facility) the statement date to the date of award/decree and thereafter @1g% p.a. compounded with monthly rests from the date of application till the date of realization along with costs and in default for sale of OA schedule properties.

¶18

Summons served on D1 through paper publication, whereas summons served on D2 & 3. They were set ex_parte on 02.07.2024 as called absent and no representation.

¶19

The Applicant Bank examined D.Suresh, Deputy Legal Manager, as AW-1 and marked 14 documents through him as Ex. A.1 to Ex. A.14.

¶20

Ld. Counsel for the Applicant Bank reported orders may be

¶21

passed through merits. perused the material placed on record.

¶22

The point that arises for consideration is:-

¶23

Whether the Applicant Bank is enti ed for the claim made in the OA against the Defendants and OA schedule propefties?

¶24

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 jilWt?everall, riable

¶25

oA.NO.2s9l2023

¶26

to pay the oA claim to the Appricant Bank with future interest and costs.

¶27

In the result, the present Original Application No.25912023 is allowed as under: -

¶28

i) The Defendants are jointly and severally liable to pay to the Applicant Bank a sum of Rs.28,29,3g3.9gps with future interest @10.05o/o p.a. simple from the date of application till the date of realization;

¶29

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 entifled to proceed against the same to realise its debt;

¶30

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

¶31

iv) the applicant bank is entitled for the costs.

¶32

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

¶33

Issue Recovery Certificate accordingly.

¶34

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 04th day of April, 2025).

¶35

/4w"w

¶36

(MkfsHWAR KorHE) PRESIDING OFFICER

Hdfc Bank Ltd., v. T Nagabushana Reddy

Case brief

What is this about?

What did the court decide?

Hdfc Bank Ltd., v. T Nagabushana 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 Ltd., versus Dr.Anus Dental Care.

Ayyappa Textiles versus Axis Bank

Union Bank of India versus M/S Sree Nidhi Medical and Surgical Agencies

Hdfc Bank Ltd., versus Byreddy Krishna Ramachandra Reddy

Kotak Mahindra Bank Limited versus Kunchey Venkata Ranga Kiran

Chatakunta Venkata Subbamma versus Canara Bank