Allowed

Hdfc Bank Ltd. v. M/S. Laxman Enterprises

DRT17 Jun 2025OA/385/2024

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed the original application filed by HDFC Bank Ltd for recovery against Laxman Enterprises and guarantors. The Tribunal held that the bank established its claim and ordered joint and several liability to pay the principal amount, future interest, and realization of hypothecated assets.

What did the court decide?

Directing defendants to jointly and severally pay Rs. 50,39,521.66 with future interest and proceed against hypothecated movables and properties for realization.

Hdfc Bank Ltd. versus M/S. Laxman Enterprises — Contract and Commercial Disputes | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-I AT HYDERABAD

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DATED THrS THE 17rH DAY OF JUNE, 2025

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PRESENT: SRI GUMMADI GOPICHAND, PRESIDING OFFICER OA.No.385 ot 2024

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Between:

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HDFC BanK Ltd,

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Office at 5-9-22/A &.5-9-22/1/8, 4th floor, Shapoorji Towers, Above Nexa Showroom, Shapoorji, Adarshnagar, Opp Telangana Secretariat, Hyderabad, Telangana - 500 063. Represented by its Authorised signatory

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Applicant

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VERSUS

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M/s. Laxman Enterprises, Represented by Donga Laxman, R/o 8-2-277/36, UBI colony, Road no.3, Banjara hills,

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Hyderabad, TS - 34.

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Sri Donga Laxman, s/o Sri D. Venkaiah, aged 32 years, R/o 8-2-277/36, UBI colony, Road no.3, Banjara hills, Hyderabad, TS - 34.

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ffi:, Porhireddypa,y, {-€T+}o Pothireddypaile, Mahabubnagaf/ lF Sb 'i, \ Gadwal' Hvderabad - sos zt{/ 1 r JUt{ 2n2.q^{-)</sup> ii',:"fi:?#]uJi.orur"u.., \Br_u "S/ iiftlii^{r#Eiql: u*,,Wdd,iri,"} n o u n,,}

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(oA. No.38s/2024)

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Counsel for the Pa rties: For the Applicant Sri G. Ravi Chandrasekhar For the Defendants Exparte

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ORDER

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The Applicant Bank filed the present OA against Defendants for recovery of a total sum of Rs.50,39,521.55ps (Rupees Fifty Lakhs Thirty Nine Thousand Five Hundred Twenty one and paise Sixty six only) i.e.,

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a) a sum of Rs.49,47,489.18ps with future interest @ 11.52olo p.a from date of filing of OA till the date of realization;

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b) a sum of Rs.92,032.48ps with future interest @ 19,75% p.afrom date of filing of OA till the date of realization;

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and in default for sale of hypothecated movables/ vehicles as mentioned in the schedule to OA.

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As per the averments in the application, the Applicant Bank states that defendant no.1 is a firm represented by defendant no.2 availed two wheeler loan and a commercial loan for a sum of Rs.46,66,76g/& Rs.1,01,2 defendants 2 & 3 stood as guarantors to the loan a t and 2 purchased one commercial veh registration no.TS09UE1099 bearing Eng hypothecated the same in favour of

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(oA.No.38s/202a)

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Applicant bank. After availing the loan facilities, the defendants failed to comply the terms of sanction, hence the applicant bank classified the account as NpA and legal notice was issued on 22.08.2024. Inspite of several requests and demands, the defendants did not clear the outstanding. Hence this oA.

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Defendants called absent and set exparte on 03.04.2025.

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Ms. SumayaShaik, Legal Manager oF the Applicant Bank examined himself as AW.1 and exhibited relevant documents, which are marked as Ex.A.1 to A.6.

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Heard the Ld. Counsel for the Applicant Bank.

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The point that arise for consideration is whether the Applicant Bank is entitled for the claim made in the oA against the Defendants as prayed for?

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DeFendants remainedexparte. To substantiate the case of the Applicant Bank, AW.1, official of the Applicant Bank was examined and he exhibited relevant documents as Ex.A1 to 4.6. In view of the above, I hold that the Applicant Bank has established their claim made in the oA against the Defendants and hence the Applicant Bank

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is entitled to im made in the OA with future interest
and costs.
B, In the
ffi,i'\ with costs, as u nd er:
[, tn",o:"T,:t oA id+
17Jllilz0zs ,:.
"
,
W,

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(oA.No.385 12024)

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The Defendants are jointly and severally liable to pay to the Applicant Bank a total sum of Rs.5O,39,521.66ps (Rupees Fifty Lakhs Thirty Nine Thousand Five Hundred Twenty one and paise Sixty six only) i.e.,

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a) a sum of Rs.49,47,489.18ps with future interest @ lt.S2o/o p.afrom date of filing of OA till the date of realization;

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b) a sum of Rs.92,032.48ps with future interest @ 19.75o/o p.afrom date of filing of OA till the date of realization;

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The Applicant bank is entitled to proceed against the hypothecated movables / vehicles as mentioned in the schedule to OA towards realization of the debt due;

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The Applicant Bank is also entitled to proceed against the person and properties of defendant No.2& 3 and properties of defendant no.1 firm towards realization of the debt due.

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The Applicant Bank is entitled to the costs of the OA.

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L2. The Applicant shall file a cost memo within two weeks from the date of receipt of order.

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Issue Recovery certificate accordingly.

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t4. Communicate a copy of the order to the parties concerned.

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P.A., transcribed by her, corrected, signed and pronounced by me in the open court on tl$y$'rQgozsl 'tN. '(f--m 'T^.t %J} w,-J$,.,,ff:ilHi

Hdfc Bank Ltd. v. M/S. Laxman Enterprises

Case brief

What is this about?

What did the court decide?

Hdfc Bank Ltd. v. M/S. Laxman Enterprises

Case brief

What is this about?

What did the court decide?

What the court decided

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