Allowed

Hdfc Bank Ltd., v. M/S Seven Hills Tar Petro Products LLP.

DRT9 Apr 2025OA/440/2023

Case brief

AI extract

What is this about?

The Tribunal allowed the Original Application filed by HDFC Bank Ltd. against the Defendants for the recovery of a total sum of Rs.51,47,236.39 along with future interest and costs, holding them jointly and severally liable and authorizing proceedings against hypothecated vehicles.

What did the court decide?

Debtors directed to pay Rs.51,47,236.39 plus future interest and costs; Recovery Certificate to be issued.

Hdfc Bank Ltd., versus M/S Seven Hills Tar Petro… — Contract and Commercial Disputes | DRT (2025)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD DATED THIS THE Ogth DAY OF APRIL, 2025

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PRESENT: SH. RAMESHWAR KOTHE, B.Com., L.LB. (Hons.), M.A. PRESIDING OFFICER

¶3

ORIGINAL APPLICATION No: 440 OF 2023

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

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.....Applicant.

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Versus

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M/s.Seven Hills Tar Petro Products LLP., Office at D.No.1-4lB 304,

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Mahalakshml Nivas, RTC Workshop Road, Bhavanipuram, Vijayawada - 5200L2. Rep by its Partner K.Purnesh Babu.

¶9

Also at: -

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M/s.Seven Hills Tar Petro Products LLP., C/o.D.No.5-146, Officers Housing Board Colony, Anantapur - 515001.

¶11

Mr.Kayagurala Purnesh Babu, S/o. K. Lakshmipathi, Aged about 32 Years, Occ: Partner of M/s.Seven Hills Tar Petro Products LLP., R/o.Flat No.401, Hanuman Classics, Aravind Nagar, Near Sivalayam, Anantapur - 515001.

¶12

Also at:-

¶13

Mr.Kayagurala Purnesh Babu, C/o.D.No.5-146, Officers Housing Board Colony, Anantapur - 515001.

'r[m '.-,,.,t..-.

oA.NO.440/2023

Mrs.Kayagurala^Rajeswari,

¶18

W/o. L. LakshmiPathi, Aoed about 53^{Years, Occ:Housewife,} R7o. Flat No.401,^{Hanuman Classics,} Aravind Nagar,^{NearSivalayam,} Anantapu r -^515001.

¶19

Also at:-

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Mrs.Kayagurala^Rajeswari, C/o.D.No.5-146,^{OfficersHousing} Board Colony,^Anantapur -^515001.

¶21

...Defendants

¶22

Counsel for^{the APP|icant}

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: Mr.M.Srinivas^Reddy

Defendants

: Ex-parte

:: :: glgEll

The Applicant^{Bank filed the present OA for the recovery a total} sum of Rs.51,47,236.39ps^{i.e., a sum of Rs 21,34,584 19ps} under Loan A/c.Nos 83184893^{& 8301511 and a sum of} Rs.30,12,652.20ps under^{Loan A/c.No 96732117 from the} defendants^{jointly and severatlywith future interest @18o/o p'a'} from the date of^{appllcation till the date of realizationalong} wlth costs and^{in default for sale of hypothecated vehicles'}

¶28

Summons served^{on D1 to 3. They were set ex-parte on} 16.10.2023 as^{called absentand no representatlon'}

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The Applicant Bank examined Sumaya^{Shaik, Legal Manager,as} AW-1 and marked 12 documents^{through her as Ex. A.1 to Ex.} A.t2.

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Ld. counsel for the^APPlicant passed through merits. Perused

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¶32

oA.NO.440/2023

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The point that arises for consideration is:-

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Whether the Applicant Bank is entitted for the claim made in the OA against the Defendants and oA hypothecated vehicles?

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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.l to A.12 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendants. Hence, I hold that the Defendants are joinuy and severally liable 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.44012023 is 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.51,47,236.39ps i.e., the defendants 1 to 3 are joinfly and severally liable to pay a sum of Rs.21,34,584.19ps under Loan A/c. Nos.83184893 & 8301511 and the defendants 1& 2 are joinuy and severally liable to pay a sum of Rs.30,12,652.20ps under Loan A/c. No. 967327L7:, with future interest @9.6590 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 vehicles described in the

OYo

oA.NO.44ol2023

schedute annexed^{tothe OA and the} applicant^{bank is entitledto 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 entitledfor 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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o Issue Recovery^{CertiRcateaccordingly'}

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Communicate^{a copy of this order to the parties concerned} Ir'-i"l^{a t} """", coriected.^{signed andpronounced by me in the open courton} thisthe^{OgrhOaY ofAPril,2025).}

¶48

,/y\itt . *tu) ,/ -6,.t-' ESA/1/AR KorHE) PRESIDiNG OFFICER

Hdfc Bank Ltd., v. M/S Seven Hills Tar Petro Products LLP.

Case brief

What is this about?

What did the court decide?

Hdfc Bank Ltd., v. M/S Seven Hills Tar Petro Products LLP.

Case brief

What is this about?

What did the court decide?

What the court decided

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Issues for consideration

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