Allowed

Bank of Baroda v. M/S Shri Vardhini Enterprises Pvt. Ltd.

DRT20 Feb 2025OA/354/2024

Case brief

AI extract

What is this about?

Debts Recovery Tribunal-II at Hyderabad heard an Original Application filed by Bank of Baroda for recovery of a debt of Rs. 51,60,886.29 along with interest and costs against three respondents. The matter was disposed of ex-parte.

What did the court decide?

Defendants are jointly and severally liable to pay Rs.51,60,886.29 with future interest. Recovery certificate issued. Bank entitled to proceed against hypothecated vehicle and defendants' properties.

Bank of Baroda versus M/S Shri Vardhini Enterprises Pvt. Ltd. — Banking and Recovery | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD

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DATED THIS THE 2oth DAY OF FEBRUARY, 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: 354 OF 2024

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Bank of Baroda., Cuddapah Branch, YSR Cuddapah District. Rep. by its Chief Manager.

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.....Applica nt.

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Versus

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M/s.Shri Vardhini Enterprises Pvt Ltd., Rep by Managing Directors 38/ 172/ -7, Chinnachowk,

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Tirupati Road, Cuddapah - 516002.

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M rs.l.C.Aparna.,

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W/o. Mr. P.Vishwanatha Reddy, Age 25 Years, Occ: Business, R/o. 1-43, Tatagaripalli,

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Tadipatri, Anantapu r - 515411.

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M r.l.C. Manikanta Reddy, S/o. Mr.J.C. Bhageeratha Reddy, Age 23 Years, Occ: Business, R/o. 1-43, Tatagaripalli, Tadipatri, Anantapu r - 515411.

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... Defendants

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: M/s.Trivikram Chitturu Counsel for the Applicant

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Defendants : Ex-parte

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:: ORDER ::

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The Applicant Bank filed the present OA for the recovery a total sum of Rs.51,60,886.29ps from the defendants iointly and l.lmn --l.^<.

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oA.NO.354/2024

severally with future interest @14.900/0^p.a. with^monthlyrests from the date of application till the date of^{realizationalong} with costs and in default for sale of hypothecated^vehicle.

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Summons served on D1 through^{paperpublication,whereas} summons served on D2 and 3. They were set ex-parte^on 23.72.2024 as called absent and no^{representation.}

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The Applicant Bank examined Y.T.Raghavendra^Reddy,Senior Manager, as AW-1 and marked 12 documents through^himas Ex. A.1 to Ex. A.12.

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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 vehicle?

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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.12 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.

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In the result, the^present Original Application^{No.354/2024is} altowed as under: - N*t'

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oA,NO.354/2024

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i) The Defendants are^{jointly and severally} liable to^pay to the^{Applicant Bank a sum of} Rs.51,60,886.29ps with^{future interest} @12.90%^{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 entitledto proceed against} the same to^{realiseits debt;}

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iii) the appllcant bank^{is atso entitled to proceed} against the^{person and propertiesof} defendants for^{realizationof lts 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 within2 weeks} from the date of receipt of this^Order.

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9, Issue Recovery Certificate^accordingly.

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Communlcate^{a copy of this order to the parties concerned'} (Dictaled to the steno, corrected,^{signedand pronounced by me in the open court on} this the 2orh Day of February,2025).

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Z,t*n.,..,'.l:h /1,/' <.s',-

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lnMesnwan^xornel PRESIDING OFFICER

Bank of Baroda v. M/S Shri Vardhini Enterprises Pvt. Ltd.

Case brief

What is this about?

What did the court decide?

Bank of Baroda v. M/S Shri Vardhini Enterprises Pvt. Ltd.

Case brief

What is this about?

What did the court decide?

What the court decided

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Issues for consideration

Parties & counsel

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