Allowed

Hdfc Bank Ltd. v. Pallapu Venkatesh

DRT22 Apr 2025OA/356/2024

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed an Original Application filed by H DFC Bank Ltd. against four Defendants for recovery of Rs. 22.53 lakh with future interest and costs. The bank was directed to file a cost memo and a recovery certificate is to be issued.

What did the court decide?

The Defendants are jointly and severally liable to pay Rs. 22,53,665.28 with future interest, and the Applicant Bank is entitled to proceed against the hypothecated vehicle and defendants' properties.

Hdfc Bank Ltd. versus Pallapu Venkatesh — Consumer Protection | DRT (2025)

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]N THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD

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DATED THIS THE 22ND DAY OF APRIL, 2025

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

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PRESIDING OFFICER

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ORIGINAL APPLICATION No: 356 OF 2024

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H DFC Ba n k Ltd., Having its office at # 1-10-60/3, 3'o Floor, Suryodaya Complex, Begumpet, Hyderabad - 500016. Rep. by its Authorized Signatory.

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.... .Applica nt.

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Versus

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Mr. Pallapu Venkatesh, S/o.Venkata Ramanaiah, Aged about 34 Years, Occ: Business, & Partner of M/s.Sri Srinivasa Enterprises, R/o. H. No.3-611, Opp Laxmidevi Temple, Ku ndhan Nagar, Narsingl Road,^puppa laguda, Manikonda, Ranga Reddy District - 500089.

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Mr. Pallapu Venkata Ramanaiah, S/o.Venkaiah, Aged about 58^years, Occ: Business, H. No.3-611, Lakshm idevi Temple Road, Narsingi Road, Ranga Reddy District - 500089.

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M/s.Sri Srinivasa Enterprises., Rep by its Partner Mr.Pallapu Venkatesh, Office at Plot No.61, Secretariat Hills Colony, Neknampur, Ga ndipet, Ranga Reddy District - 500089.

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Mr.Pallapu Venu, S/o.Venkata Ramaiah, Aged Major, Occ: Business, Office at 3-611, Secretariat Hills Colony, Gandipet, Ranga Reddy District - 500089.

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Derendants 0Y**

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oA,NO.356/2024

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Cou nsel for the^APPIicani

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: M/s. M.Srinivas Reddy

Defendants

: Exparte

::^qLLEE ::

The Applicant Bank filed the^{present OA for the recovery a total} sum of Rs.22,53,665.28ps from^{the defendantsjointlyand} severally with future interest @18o/o^{p'a. withquarterly} interests from the date of^{application till the date of realization} along with costs and in default^{for sale of hypothecated vehicle.}

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Summons served on D1, 2 and 4,^{whereassummons served} on on

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D3 through paper^publication. They were set^ex-parte 73.f2.2024 as called absent and^{no representation.}

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The Applicant Bank examined Sumaya^{Shaik, Legal Manager,as} AW-1 and marked 08 documents^{through her as Ex. A 1to Ex.} A.08.

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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 viz., Exs.A.1 to A.08 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 severa!.ly liable z/)2'sur l-/

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oA.NO.3s612024

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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.356/2024 is allowed as under: -

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i) The Defendants are joinfly and severally liable to pay to the Applicant Bank a sum of Rs,22,53,665.28ps with future interest @9.45olo 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 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 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 22"d Day of April, 2025).

¶38

ESHWAR KOTHE) PRESIDING OFFICER

Hdfc Bank Ltd. v. Pallapu Venkatesh

Case brief

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Hdfc Bank Ltd. v. Pallapu Venkatesh

Case brief

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