Allowed

Hdfc Bank Ltd., v. Mr. a Panchakshari Reddy

DRT24 Jun 2025OA/402/2023

Case brief

AI extract

What is this about?

In an ex-parte original application for recovery, the DRT held the defendant liable to pay Rs. 47,53,553.80 with future interest and costs against hypothecated vehicles, allowing the applicant bank's claim.

What did the court decide?

DEFENDANT TO PAY Rs. 47,53,553.80 WITH FUTURE INTEREST AND COSTS; PROCEED AGAINST HYPOTHECATED VEHICLES AND OTHERS AS SECURED DEBT.

Hdfc Bank Ltd., versus Mr. a Panchakshari Reddy — Contract and Commercial Disputes | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD DATED THIS THE 24th DAY OF JUNE, 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: 402 OF 2023

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HDFC Ba nk Ltd., Having its office at # 1-10-60/3, 3'" 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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Ivlr. A Panchakshari Reddy, S/o.Munithayamma Reddy, Age 45^years, Occ: Business, R/o.No.70,73 Flat No.201, Aditya heaven, Veterinary Colony, Shaikpet, Hyderabad, Tela nga na - 500089.

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Also at:-

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sepra chattels 197lA, Road No.13, J ubli Hills, Hyderabad, Tela nga na-500033.

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Also at:-

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Plot No.13 and 14, Ftat No.G1, Road No.12, Banjarahills, Hydera bad, Telanga na-500089.

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... Defenda nt

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: M/s.Srihari Bathina Counsel for the Applicant Defendant : Ex- parte

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:: qLLLE::

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The Applicant Bank filed the present OA for the recovery a total sum of Rs.47,53,553.80ps towards Loan A/cNos.93897827,

l-/

oA.NO.402/2023

64811489, 68763023,^{6886484 &95393402from the} defendant^{with future interest @12 99yo,9 '25o/o, 14o/o'17 '99o/o} & 12.500/o^{p.a. along with interest@2%p.m. from the date of} application^{till the date of realization alongwith costs and in} default for sate^{of hypothecated vehicles'}

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Summon^servedon sole defendant and^{was set ex-parteon} 27.17.2023 as^called absent and^{no rePresentation.}

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The Applicant^{Bank examined Y.Nikhila,Legal Manager'as AW-} l and marked^{05 documents through her as Ex A l to Ex A 05} and examined^{SumayaShalk,Legal Manager, as AW-1and} marked 03 documents^{through her as Ex'A 6 to Ex A'08'}

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Ld. Counsel^{for the Applicant Bank stated orders may be passed} on merlts.^{Perusedthe 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 ctaim^{madein the OA against} the Defendant and^{oA hYpothecated} vehicles?

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As stated supra,^{the Defendant remainedex-parteThe} Evidence Affidavit^{coupledwith the recitalsin the documents} viz., Exs.A.1 to A.08^{marked on behalf of the ApplicantBank} clinches the claim of^{the ApplicantBank againstthe Defendant'} Hence, I hold that the^{Defendantls liableto pay the OA claimto} the Applicant Bank^{with future interestand costs.}

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In the result, the Present^{Original Application No.402l2023is} alowed as unoer:^- QfuvLu

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oa.No.4O2l2023

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i) The Defendant is^{liable topay to the} Applicant Bank a sum^{of Rs.47,53,553.80ps} towards Loan^{A/c Nos.63897827, 64871489,} 6A763023,^{6886484 & 95393402 with future} interest @9.25olo^{p'a.simplefrom the date of} application till^{the date of realization;}

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ii) the OA claim is^{secured bY way of} hypothecation of^{vehicles descrlbedin the} schedule annexed to^{the OA and the} applicant bank^{is entltledto proceed against} the same to^{realiseits 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 entitled^{for the costs.}

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8, The Applicant Bank is directed^to file^{CostMemowithin2 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. {oictated^{to thesteno, corrected,signedand pronouncedby me in the open aourt on} this the 24th Day oflune, 2025).

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//xo"o
(RAMESHWAR KOTHE)
PRESIDING OFFICER

Hdfc Bank Ltd., v. Mr. a Panchakshari Reddy

Case brief

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Hdfc Bank Ltd., v. Mr. a Panchakshari Reddy

Case brief

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