Allowed

Hdfc Bank Ltd. v. M/S Kalpavruksha Enterprises

DRT17 Jul 2025OA/26/2024

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed a recovery application filed by H DFC Bank Ltd. against two defendants. The court held the defendants jointly and severally liable to pay the debt, future interest, and costs, enabling the bank to proceed against hypothecated assets, the person, and properties of the defendants.

What did the court decide?

Defendants directed to pay Rs.32,68,902.25 with future interest and costs; bank entitled to proceed against hypothecated assets, person, and properties of defendants; recovery certificate to be issued

Hdfc Bank Ltd. versus M/S Kalpavruksha Enterprises — Execution and Attachment | DRT (2025)

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]N THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD

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DATED TH]S THE 17TH DAY OF ]ULY, 2025

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

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PRESIDING OFFICER

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ORIGINAL APPLICATION No: 26 OF 2024

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H DFC Bank Ltd., Department For Special Operations H.No.6-3-246 & 6-3-244/A, 3RD Floor Desk No.0196, Roxana Palladium, Road No.1 Banjara Hills, (Besides Virinchl 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. Kalpavruksha Enterprises., Rep by its Proprietor Mr. Madineni Obula Pathi, 41825/1, TGR Street, Tadipatri Anantapur - 515411, Andhra Pradesh.

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AIso at:-

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I\4/s. Kalpavruksha Enterprises., Rep by its Proprietor 14r. Madineni Obula Pathi, 15/886, Bhagat Singh Nagar, Tadipatri Anantapur - 515411, Andhra Pradesh.

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lvlr. Madineni Obula Pathi, S/o. Ivl.Obaiah Age 46 Years, Occ: Business 4/825/7, TGR Street, Tadipatrl Anantapur - 515411, Andhra Pradesh.

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Also at:-

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Mr. Madlneni Obula Pathi, S/o.lY.Obaiah Age 46 Years, Occ: Business 15/886, Bhagat Singh Nagar, Tadipatri Anantapur - 515411, Andhra Pradesh.

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. .. Defenda nts

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Counsel for the Applicant : M/s. M.V. KINI Defendants ,W"

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oA.NO.2612024

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:: (LLLE-& ::

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The Applicant Bank filed the^present OA for the recovery a total sum of Rs.32,68,902.25ps as on 01.12.2023 from the defendants^jointly 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 hypothecated assets.

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Summons served on D1 and 2 through^{paper publication.} They were set ex-parte on 04.70.2024 as called absent and no representation.

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The Applicant Bank examined Srikanth Sukavasi, Senior Manager, as Aw-1 and marked 16 documents through him as Ex. A.1 to Ex. A. 16.

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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 hypothecated assets?

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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.16 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 Applicant Bank with future interest and costs. ,4y^r9 (-,,

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o.A.NO.2612024

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In the result, the present Original Application No.26/2024 is allowed as under: -

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i) The Defendants are^jointly and severally liable to pay to the Applicant Bank a total sum of Rs.32,68,902.25ps as on 01.12.2023 with future interest @10o/o 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 hypothecation of assets 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 within2 weeks} from the date of receipt of this Order.

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q 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^{pronouncedbyme in the open court on} this the 17th Day of .1u|y,2025).

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.^r!r\11 ..1 , t{l''"' . _,

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(RAMESHWAR KOTHE) PRESIDING OFFICER

Hdfc Bank Ltd. v. M/S Kalpavruksha Enterprises

Case brief

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Hdfc Bank Ltd. v. M/S Kalpavruksha Enterprises

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