Allowed

Hdfc Bank Ltd. v. Govindu Chandra Sekhar Reddy

DRT28 Apr 2025OA/334/2023

Case brief

AI extract

What is this about?

The Tribunal disposed of original application No. 334/2023 ex-parte due to defendants' absence. It held defendants jointly and severally liable to pay the claimed sum plus future interest and costs, allowing recovery against properties in the OA schedule.

What did the court decide?

Defendants jointly and severally liable to pay Rs. 22,47,155.88 with future interest; claim secured by mortgage of properties; entitled to proceed against persons and properties for realization; costs

Hdfc Bank Ltd. versus Govindu Chandra Sekhar Reddy — Contract and Commercial Disputes | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD DATED THIS THE 2BTH 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: 334 OF 2023

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HDFC Bank Ltd., Having its office at Bank House # 6-3-246 &. 6-3-244/A, 6th Floor, Roxana Palladium, Road No.1, Banjara Hills, Hyderabad - 500034. Rep. by its Authorized Signatory.

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.....Applicant.

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Versus

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Mr.Govindu Chandra Sekhar Reddy, S/o.Gangi Reddy,

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Aged about 49 Years, Occ: Farmer, R/o.H.No.4-52, Thurakavandla Palli Village, Chinaramannagaripali Post Tanakallu Mandal, Ana nthpur District-5 1 557 1.

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Mrs.Govindu Gangulamma, W/o.Govindu Gangi Reddy, Aged about 74Yearc, Occ: Housewife, R/o. H. No.4-52, Thurakavandla Palli Village, Chinaramannagaripali Post Tanakallu Mandal, Ananthpur District-515571.

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Mr.Sudhakar Reddy, S/o.Malaka Siva Reddy, Aged about 65 Years, Occ: Business, R/o. H.No.4-44, Thurakavandla Palli Village, Chinaramannagaripali Post Tana kallu Mandal, Ananth pur District-5 1 557 1.

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...Defendants

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Counsel for the Applicant : Mr.M.Srinivas Reddy Defendants : Ex-parte s&(*f

oA.NO.334/2023

:: qLLE& ::

The Applicant Bank filed the present OA for the recovery a total sum of Rs.22,47,155.88ps from the defendants jointty and severally with @ 1270 p.a. from 02.06.2022 (cash credit) & (Term Loan) & 14olo p.a. in DOD Facility the statement date to the date of award/decree and thereafter @18o/o 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.

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Summons served on D1 to 3. They were set ex-parte on 01.08.2023 as called absent and no representation.

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The Applicant Bank examined D.Suresh, Deputy Legal Manager, as AW-1 and marked 13 documents through him as Ex.A.1 to Ex.A.13.

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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 vlz., Exs.A.1 to A.13 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 clqjm to the Applicant Bank with future interest . //t\'tt$ 1 "<. and costs. //'d:uo-

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oA.NO.334/2023

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In the result, the present Original Application No.334/2023 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.22,47,155.88ps with future interest @10.05o/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 properties of defendants for realization of its dues;

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iv) the applicant bank is entifled 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 according ly.

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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 28th day of April, 2025).

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/flurt,.;t'.''

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(MIVTESHWAR KorHE) PRESIDING OFFICER

Hdfc Bank Ltd. v. Govindu Chandra Sekhar Reddy

Case brief

What is this about?

What did the court decide?

Hdfc Bank Ltd. v. Govindu Chandra Sekhar Reddy

Case brief

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