Allowed

Hdfc Bank Ltd. v. Budigapaka Sekhar

DRT17 Feb 2025OA/446/2023

Case brief

AI extract

What is this about?

In an original application filed by HDFC Bank Ltd. for recovery of Rs.21,65,924.63 plus future interest, the Presiding Officer held the respondents jointly and severally liable. Defending ex-parte, the court imposed a cost memo and ordered issuance of a recovery certificate.

What the court decided

AI extract

Hdfc Bank Ltd. versus Budigapaka Sekhar — Banking and Recovery | DRT (2025)

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]N THE DEBTS^{RECOVERYTRIBUNAL-II AT HYDERABAD} DATED THIS THE^{17IhDAY OF FEBRUARY, 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: 446 OF 2023}

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H DFC BANK^Ltd., Having its offlce^{at # 1-10-60/3,} 3'd Floor, 34,^{SuryodayaComPlex,} Begumpet,^{Hyderabad- 500016.} .....Applicant. Rep. by its^{Authorized Signatory'}

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Versus

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Budigapaka Sekhar, S/o.Iddaiah,^{Occ: Business,} Aqe 29 Yea^{rs, R/o.H.No.17-1-383/A/15,} G Floor, ChamPapet,^{NearSai Baba} Temple, Hyderabad,^Telangana.

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z. Budigapaka^Venkatalah, S/o.Iddaiah,^{Occ: Business,} Age 43 Years,^{R/o.H. No.1-77,} Ba ndatim ma Pu^ra m,^Nalgonda, Telangana - 508243.

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... Defendants

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Cou nsel for the^APP|icant

:M/s.Srihari Bathina

Defenda nts

:Ex-parte

:: (LLLE-L^::

The Applicant Bank^{filed the present OA} for the recovery a total sum of Rs.21,65 ,924.63Ps^underLoan A/c.No.86853232^from the defendants^jointly and^severally with future interest

?ry'"r

oa.No.446l2O23

@11.52olo p.a. along with @ 2olo p.m. interest 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 D2 and was set ex-parte on 27.12.2023 as called absent and no representation. Summons served on D1 through paper publication and was set ex-parte on OS.OB.2024 as called absent and no representation.

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The Applicant Bank examined Sumaya Shaik, Legal Manager, as AW-1 and marked 04 documents through her as Ex. A.1 to Ex. A.04.

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Ld. Counsel for the Applicant Bank reported orders may be

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passed through merits. perused the material placed 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 hyp,thecated 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.04 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendants. Hence, I hold that the Defendants are joinfly 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 N}.446/ZOZ3 is arrowed as under: -

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0M"9

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oA.NO.44612023

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i) The Defendants are jointly and severally liable to pay to the Applicant Bank a sum of Rs.21,65,924.63ps under Loan A/c. No. 86853232 with future interest @11.52olo 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 17th Day of February, 2025).

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1ffi*e/ (RAYTESHWAR KOTHE) PRESIDING OFFICER

Hdfc Bank Ltd. v. Budigapaka Sekhar

Case brief

What is this about?

What the court decided

Hdfc Bank Ltd. v. Budigapaka Sekhar

Case brief

What is this about?

What the court decided

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