Allowed

Hdfc Bank Ltd., v. Galennagari Jagadeeshwar Reddy

DRT30 Apr 2025OA/271/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the original application filed by HDFC Bank Ltd. for recovery of loan dues against two defendants. The court held that the defendants are jointly and severally liable to pay the outstanding amount with interest, costs, and directed the issuance of a recovery certificate based on the evidence marked by the applicant.

What did the court decide?

Defendants jointly and severally liable to pay Rs.29,77,748.25 with interest; OA claim secured by hypothecated vehicle; bank entitled to proceed against persons and properties; costs awarded; recovery

Hdfc Bank Ltd., versus Galennagari Jagadeeshwar… — Contract and Commercial Disputes | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD DATED THIS THE 3oth DAY OF APRIL, 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: 271 OF 2023

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HDFC Bank Ltd., Having its office at # 1-10-60/3, 3'd Floor, 34, Suryodaya Complex, Begumpet, Hyderabad - 500016. Rep. by its Authorized Signatory. .....Applicant.

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Versus

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Mr.Galennagari Jagadeeshwar Reddy,

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S/o.G.Ram Reddy, Occ: Business, Age 55 Years, R/o.P1 No.343, Road 9, Krishna Nagar, Hyderabad, Telangana - 500049.

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Gallennagari Laxmi, W/D/o.Gunna Venkat Reddy, Occ: Business, Age 54^years,

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R/o.P1 No.343, Road 9, Krishna Nagar, Hyderabad, Telangana - 500049.

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... Defendants

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Counsel for the Applicant : M/s.srihari Bathina

Defendants

: Ex-parte

:: ORDER ::

The Applicant Bank filed the present OA for the recovery a total sum of Rs.29,77,748.25ps under Loan A/c.No.B3B59B11 from the defendants jointly and severally with future interest ,

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oA.NO.27u2023

@10.40olo^{p.a. along with 2olo p'm from the date of application} till the date^{of realization along with costs and in defaultfor} sale of^{hYPothecated vehicle'}

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paper publication.^They

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1. Summons^{servedon D1 and 2 through} called absent^{and no}

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were set^{ex-parte on 05 02 2024as} representation.

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The Applicant^{Bank examined SumayaShaik' Legal Manager'as} AW-1 and^{marked04 documentsthrough her as Ex A l to Ex'} A.04.

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Ld. Counsel^{for the Applicant} Bank reported^{ordersmay be} the material Placed^{on record'}

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passed through^{merits. Perused}

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The^point that^{arises for considerationis:-}

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Whether the^{Applicant Bank is entitled} for the claim^{madein the OA against} the Defendants^{and OA hypothecated} vehicle?

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As stated supra,^{the Defendants remained ex-parte The} Evidence Affidavit^{coupledwith the recitalsin the documents} viz., Exs.A.1 to^{A.O4 marked on behalf of the ApplicantBank} clinches the^{claim of the Applicant Bank against the Defendants'} Hence, I^{hold that the Defendantsare jointlyand severally liable} to^pay the^{OA claimto the Applicant Bank with future interest} and costs.

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In the result,^the present Origf nal Application^{No.27112023 is} allowed as^under: frry"*'-

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oA.NO.27Ll2023

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i) The Defendants are joinUy and severally liable to pay to the Applicant Bank a sum of Rs.29,77,748.25ps under Loan A/c. No. 83859811 with future interest @10,40olo 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 vehicle 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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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 30th Day of April, 2025).

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,rflryy*tP /('/'<4'r"

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(MIq-ESHWAR KOTHE) PRESIDING OFFICER

Hdfc Bank Ltd., v. Galennagari Jagadeeshwar Reddy

Case brief

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Hdfc Bank Ltd., v. Galennagari Jagadeeshwar Reddy

Case brief

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