Allowed

Hdfc Bank Ltd. v. Akkineni Nagasri

DRT25 Jul 2025OA/400/2024

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal-II at Hyderabad allowed the Applicants OA for recovery of Rs. 25,12,373.59 with future interest. Based on uncontradicted evidence from ex-parte defendants, the court held them jointly and severally liable and directed issuance of recovery certificate.

What did the court decide?

Defendants directed to pay Rs. 25,12,373.59 with future interest, costs; recovery certificate issued; applicant entitled to proceed against hypothecated vehicle and defendant properties.

Hdfc Bank Ltd. versus Akkineni Nagasri — Contract and Commercial Disputes | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD

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DATED THIS THE 25TH DAY OF JULY, 2025

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

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PRESIDING OFFICER

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ORIGINALAPPLICATION No: 400 OF 2024

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HDFC Bank Ltd., Having its office at # 1-10-60/3, 3'd Floor, 4A, Suryodaya Complex, Begumpet, Hyderabad - 500016. Rep. by its Authorized Signatory.

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.....Applicant.

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Versus

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Akkineni Nagasri, D/o.VR Potluri Aged 49 Years, Occ: Self Employed Villa No.102, Rajapushpa Green Dale Rajapushpa Lifestyle City Tellapur Osman Nagar Road, Hyderabad-502032.

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Also at:-

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Akkineni Nagasri, C/o.Akineni Projects LLP Flat No.104, Hallmark, Shilpa Park KSN Residency Kondapur, Hyderabad-500084.

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Also at:-

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Akkineni Nagasri, 1-36, Kamma Bazar Near Bus Stop, Pothireddy Palli, Nuzvid Kirshna - 52l20t.

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Akkineni Satish, Villa No.102 Rajapushpa Lifestyle City Tellapur Osman Nagar Road, Hyderabad-502032.

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... Defendants

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(

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Counsel for the Applicant

Defendants

:Dr.M.P.Kashyap

I Ex-e*taw{,

oA.NO.400/2024

:: ORDER ::

The Applicant Bank^{filed the present OA for the recoverya total} sum of Rs.25,12,373.59ps^{from the defendantsiointly and} scverally with future^interest @18%^{p.a. 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 and 2 throughpaper publication'They} were set ex-parte on^{10.06.2025 as calledabsent andno} representation.

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The Applicant Bank examined^{SumayaShaik, Legal Manager,as} AW-1 and marked 05 documents^{through her as Ex' A'1 to Ex'} A.05.

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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 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.05^{marked on behalf of the Applicant Bank} 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^{Applicant Bank with futureinterest} and costs. M**

rl-I

oA.NO.4OO/2024

In the result, the present Original Application No.400/2024 is

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allowed as under: _

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i) The Defendants are joinUy and severally liable to pay to the Applicant Bank a total sum of Rs.25,12,373.59ps with future interest @7.75o/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 hypothecation of vehicle described in the schedule annexed to the OA and the applicant bank is entiUed 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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lv) the applicant bank is entitled for the costs.

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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 25th Day of July, 2025).

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(fu,*'

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(RAMESHWAR KOTHE) PRESIDING OFFICER

Hdfc Bank Ltd. v. Akkineni Nagasri

Case brief

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Hdfc Bank Ltd. v. Akkineni Nagasri

Case brief

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