Allowed

Hdfc Bank Ltd. v. R G Jewels

DRT30 Jul 2025OA/443/2024

Case brief

AI extract

What is this about?

The Tribunal allowed the Debt Recovery Application filed by the Applicant Bank against the Respondents. Finding the Defendants liable based on documentary evidence presented, the Court ordered payment of the disputed sum with interest and confirmed the bank's right to proceed against secured and unsecured assets.

What did the court decide?

Defendants are directed to pay Rs. 3,75,97,766 with future interest at 11.5% p.a., and the Applicant Bank is permitted to proceed against hypothecated and other assets for debt realization.

Hdfc Bank Ltd. versus R G Jewels — Contract and Commercial Disputes | DRT (2025)

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IN THE DEBTS RECOVERY DArED rHrs rr. rr,['^i'::;r.;;;:r.**, PRESENT: SH, RAMESHWAR Ko.

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o^...iil%tir1.t?''^{L LB' (Hons.),} M.A.

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oRIGINAL APPLICATIoN No: 443

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oF 2024

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ffi^{[,**l#.,i4,1l,,itffi ,,",}

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.....Appticant.

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Versus

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RG Jewels.,

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Rep by its^partners, Mr.Adarsh coel And Neha coel, H. No.8_2-595/3/7 Road No.10, Banjara Hilts Hyderabad-500034, Telangana State.

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Mr. Adarsh Goel, S/o.t4r. Goel Age Major, Occ: Business R/o. H.No.5-9-22149, Adarsh Nagar Nampally Station, Kachiguda H ydera bad - 5000 2 7, Telangana State.

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Neha Goel, Wo.Mr. Adarsh Goel Age Major, Occ: Business R/o. H. No.5-9-22149, Adarsh Nagar Nampally Station, Kachiguda H ydera ba d - 5000 2 7, Tetangana State.

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... Defendants

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Counsel for the Applicant

: M/s.M.V. KINI

Defendants

: Ex-parte

Ory**

oA.NO.443/2024

:: ORDER^::

rhe^{Applicant Bank'""0 *" present oA::t:::r::t;"?H t1T:} :::^'j;''il:,T:;;;;;^; .:", ::"'ffi::,1JlT^^;:: defendants^{jointlyanu ==,"'"":..,} -r-^ ,raro of realization^along ;[Jj",I":.1';;;';'"'"',i'1'::1'::':::::,:'"':ff ' rrom^{the date or apprication} :"' :T ::.t:,ll.ln "rr..r. o"tt"'t^{ror sale or hvpothecated assets'}

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I"',il J:t:H 't

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Summons D1 through^{served paper on publication' D2 and 3' whereas summons They were set ex-parte served onon} ou.Or.rO25^{as called absentand no representation'}

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The Applicant^{Bank examinedSrikanth Sukhavasi' Senior} Manager,^{as AW-1 and marked 17 documentsthrough himas} Ex. A.l^{to Ex' A'17'}

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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 ctaim^{madein the OA against} the Defendants^{and OA hypothecated} assets2

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As stated supra,^{the Defendants remained ex-parte'The} EvidenceAFfidavitcoupledwiththerecitalsinthedocuments viz., Exs. A. 1 to^{A.17 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. , l'n1"1,,.r, ,.r.,

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oA.NO.443l2O24

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In the result, the present Original Application No.443/2024 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.3L,75,979,76ps as on 31.07.2024 with future interest @11.5olo 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 assets 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 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 30th Day of July, 2025).

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Yo''u't

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ESHWAR KOTHE) PRESIDING OFFICER

Hdfc Bank Ltd. v. R G Jewels

Case brief

What is this about?

What did the court decide?

Hdfc Bank Ltd. v. R G Jewels

Case brief

What is this about?

What did the court decide?

What the court decided

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Statutes considered

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