Allowed

Hdfc Bank Ltd. v. M/S. Venu Hardware and Paints and Others

DRT30 Apr 2025OA/287/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed a Debt Recovery Application filed by HDFC Bank Ltd. The Tribunal, being satisfied that the Defendants' joint and several liability is established by the evidence affidavit and marked documents, decreed the claim for recovery of dues with interest, costs, and by-ways of mortgage.

What did the court decide?

Respondents jointly and severally liable to pay Rs.44,27,763.78 with future interest; Applicant entitled to proceed against properties and realize debt; Costs awarded.

Hdfc Bank Ltd. versus M/S. Venu Hardware and Paints and Others — Banking and Recovery | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD DATED THIS THE 3o,h DAy oF APRIL, 2025

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

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ORIGINAL APPLTCATION No: 287 OF 2024

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HDFC Bank Ltd., Having its office at # 6-3-246 & 6-3-244/A,4th Floor, Desk No.0196 Roxana Palladium, Road No.1, Banjara Hills, Hyderabad - 500034. Rep. by its Senior Manager,

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.....Applicant.

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Versus

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M/s.Venu Hardware and paints and Others., Rep by its Proprietor Mr.Venugopala Achari Ramachari, D.No.13-91, Madanapalli Road, Near HDFC Bank Ltd.,^palamaner, Chittor District - SI740B, Andhra pradesh.

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Mr.Venugopala Achari Ramachari, S/o.Venkata Ramachari, Age 60 Years, Occ: Business, D.No.13-91, Madanapalli Road, Near HDFC Bank Ltd.,^palamaner, Chittor District - 517408, Andhra pradesh.

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Also at:-

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Mr.Venugopala Achari Ramachari, S/o.Venkata Ramachari, Age 60 Years, Occ: Business, D.No. 13-91/2, Madanapalll Road, Near HDFC Bank Ltd.,^palamaner, Chittor District - 517408, Andhra^pradesh.

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Mr.V.Balaji, S/o.Venugopala Achari Ramachari, Age Major, Occ: Business, D.No. 13-91/2, Madanapalli Road, Near HDFC Bank Ltd., Palamaner, Chittor District - 5L7408, Andhra pradesh. ...Defendants \i \h..... ...:!)

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.^'{'

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oA.NO.287l2024

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Counsel for^{the APPlicant}

: M/s.M.V.Kini

Defendants

:Ex-parte

::^{qLLER ::}

The Applicant^{Bank filed the present OA for the recovery a total} sum of^Rs.44,27 ,763.78ps^{as on 31'03 2024 fromthe} defendants^{jointlyand severally with future lnterest@18Vo p a'} from the date of^{application till the date of realizationalong} with costs and^{in default for saleof OA schedulepropertles'}

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Summons served^{on D1 to 3They were set ex-parteon} 30.07.2024 as^{called absentand no representation'}

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The Applicant Bank^{examinedSrikanth Sukhavasi,Senior} Manager, as^{AW-1and marked 30 documentsthrough himas} Ex. A.1 to Ex.^A.30.

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Ld. Counsel for the^{ApplicantBank reported ordersmay be} passed through merits. Perused^{the materialplaced on record'}

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

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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 recitalsin the documents} viz., Exs.A.1 to A.30^{marked on behalf of the ApplicantBank} clinches the claim of the^{Applicant Bank against the Defendants'} Hence, I hold that^{the Defendantsare jointlyand severallyliable} to pay the oA claim to the^{Appllc%tBank.vlJlthfuture interest} and costs. (/'<o.t'*-

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0A.NO.287l2O24

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In the result, the present Original Application^{No.2B7/2024 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.44,27,763.78ps as on 31,03.2024^with future interest @110/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^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^propertiesof 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 according^ly.

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Communicate a copy of^{this order to the parties concerned.} (Dictated to the steno, corrected, signed and^{pronouncedbymein the open court on} this the 30th Day of April,^2025).

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Ow."

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(RAMESHWAR KOTHE) PRESIDING OFFICER

Hdfc Bank Ltd. v. M/S. Venu Hardware and Paints and Others

Case brief

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Hdfc Bank Ltd. v. M/S. Venu Hardware and Paints and Others

Case brief

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