Allowed

Hdfc Bank Ltd. v. Mr. Pavan Kumar Reddy Surakanti

DRT17 Jun 2025OA/428/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an Original Application filed by H DFC Bank Ltd. for recovery of debt. As the respondents were absconding or absent, the permission based on the bank's evidence affidavit. Directed payment with interest and costs, and confirmed rights against hypothecated vehicle.

What did the court decide?

Defendants jointly and severally liable to pay Rs.32,20,070.55 with interest and costs; OA secured by hypothecated vehicle; Recovery Certificate issued.

Hdfc Bank Ltd. versus Mr. Pavan Kumar Reddy Surakanti — Execution and Attachment | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDEMBAD DATED THIS THE 17-rH 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: 428 OF 2023

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H DFC Bank Ltd., Having its office at # 1-10-60/3, 3'd Floor, 34, Suryodaya Complex, Begumpet, Hyderabad - 500016. Rep by its Authorized signatorv

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.....Appricant.

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Versus

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Mr. Pavan Kumar Reddy Surakanti, S/o. S. Mahender Reddy, Age 23 Years, Occ: Business, R/o.H.No.4-9-776, Yella Reddy Colony, Hayathnagar, Near Hayathnagar, HDFC Bank, Pedda pa lli, Telanga na-501505.

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lvlr.Surakanti Ma hender Reddy, S/o.S.Ram Reddy, Age 49 Years, Occ: Business, R/o. H. No.4-9-776, Yella Reddy Colony, Hayath naga r, Nea r Hayathnagar, HDFC Bank, Peddapa lli, Telanga na-501505.

¶9

Mr.Surukanti Sabitha, C/o.Narsi Reddy.E, Age 41 Years, Occ: Business, R/o. H. No.4-9-776, Yella Reddy Colony, Hayathnagar, Near Hayath naga r, HDFC Bank, Pedda pa lli, Telangana-501505.

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. .. Defenda nts

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: Mr.Srihari Bathina Counsel for the Applicant Defend a nts , ex'oarte'p>/^€

oA.NO.428/2023

::^qLLE&::

The Applicant^{Bank filed the present OA for the recovery a total} sum of Rs.32,2O,O7O.55ps^{towards LoanA/c' Nos'9235429'} 9235437 &^{8856036 from the defendants jointlyand severally} with future interest @9^{02olo, 9.02olo & 9 650lo p a alongwith} interest @2olo^{p.m. from the date of applicationtill the date of} realization along^{with costsand in default for sale of} hypothecated^vehicle.

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Summons^{served on D1 to 3 through paper publicationThey} were set ex-parte^{on 22.17.2023as called absentand no} representation.

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The Applicant^{Bank examined SumayaShaik,Legal Manager, as} AW-1 and^{marked05 documents through her as Ex A l to Ex'} A.05.

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Ld. Counsel for the^{ApplicantBank reported ordersmay be} passed through merits.^{Perused the material placed on record'}

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The^point that arises^{for considerationis:-}

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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^{coupledwith the recitalsin the documents} viz., Exs. A.1 to A.05^{markedon behalfof the Applicant Bank} clinches the claim of^{the Applicant Bank against the Defendants'} Hence, I hold that^{the Defendants are jointly and severallyliable} to pay the oo ,luiffi#^!.pplicant^{Bank with futureinterest} and costs. fj,/^{' -'-t.Ob'r}

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oA.NO.428/2023

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In the result, the present Original Application No.42gl2023 is allowed as under: -

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i) The Defendants are jointly and severally liable to pay to the Applicant Bank a sum of Rs.32,20,070.55ps towards Loan A/c. Nos. 9235429, 9235437 & 8856036 with future interest @9.02o/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 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 entitled 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 according ly.

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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 17'h Day of June, 2025).

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frw"* (RAETESHWAR KOTHE) PRESIDING OFFICER

Hdfc Bank Ltd. v. Mr. Pavan Kumar Reddy Surakanti

Case brief

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Hdfc Bank Ltd. v. Mr. Pavan Kumar Reddy Surakanti

Case brief

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