Allowed

Hdfc Bank Ltd, v. Nelluru Vinay Kumar

DRT7 Feb 2025OA/447/2023

Case brief

AI extract

What is this about?

Debts Recovery Tribunal-II, Hyderabad, allowed an applicant bank's original application for recovery of dues amounting to Rs. 22,97,025.59 jointly and severally against defaulting borrowers. The order granted authority to proceed against the defendants' person, properties, and hypothecated assets for realization.

What did the court decide?

Defendants to pay Rs. 22,97,025.59 with interest; bank entitled to realize dues from hypothecated assets and property of defendants; recovery certificate issued.

Hdfc Bank Ltd, versus Nelluru Vinay Kumar — Contract and Commercial Disputes | DRT (2025)

¶1

IN THE DEBTS RECOVERY^{TRIBUNAL-II AT HYDERABAD}

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DATED THIS THE OTth DAY OF^{FEBRUARY,2025}

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PRESENT: SH. RAMESHWAR^{KOTHE,B.Com., L.LB. (Hons} ),^lvl.A PRESIDING OFFICER

¶4

ORIGINAL APPLICATION^{No: 447 OF 2023}

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HDFC Bank Ltd., Having its office at # 1-10-60/3, 3'd Floor, suryodaya^Complex, Begumpet, Hyderabad^{- 500016.} Rep. by its Authorized Signatory.

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.....Applicant.

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Versus

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Nellu ru Vinay Kumar,

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S/o.Durga Prasad^Nelluru,

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Occ: Business, Age^{31 Years,} R/o.H.No.18-403/1, Sa^{nthi Nagar,}

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M iryalaguda, Tela ng^{a n a -} 508^{20 7.}

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Also at:-

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R/o. H. No.3- 1641 1/A, Ravindra^Nagar, lvliryalaguda, Telangana -^508207.

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Du rga Prasad Nelluru, S/o.Krishna^l4 u rthy Nelluru, Occ: Business, Age 52^Years,

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R/o. H. No.18-403/ 1, Santhi Nagar,

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M iryalag uda, Telanga na-508207.

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. .. Defenda nts

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: lvl/s.Srihari Bathina Counsel for the Applicant

Defendants

: Ex-pa rte

::^q-LLLL ::

The Applicant Bank filed the^present OA^for the^{recoverya total} sum of Rs.22,97,025.59ps under Loan^{A/c;Nos.5477o787} , li\Nn ?'

^^-.-.,.1- "

oa.No.447 /2023

6429714, 6A52722t, 8193248 & credit cards from the defendants jointly and severally with interest @8.65olo, 74.25o/o,9.50o/o,9.25o/o p.a. from the date of applicauon till the date of realization along with costs and in default for sale of hypothecated assets.

¶27

Summons served on D1 and 2 through paper publication. They

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were set ex-parte on 26.02.2024 as called absent and no

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representation.

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The Applicant Bank examined Sumaya Shaik, Legal l4anager, as AW-1 and marked 07 documents through her as Ex. A.1 to Ex 4.07 .

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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 Appticant Bank is enti ed for the claim made in the OA against the Defendants and OA hypothecated assets2

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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.O7 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 Originat Application No,447lZO23 is allowed as under: - ffir*

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oA.NO.447lZO23

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i) The Defendants are jointly and severally liable to pay to the Applicant Bank a sum of Rs.22,97,025.59ps under Loa n A/c.Nos.54770787, 64297L4, 6BS2L22L, 8193248 & credit cards with future interest @8.650lo 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 entiUed to proceed against the same to realise its debt;

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iii) the applicant bank is also entifled to proceed against the person and properties of defendants for realization of its dues;

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iv) the applicant bank is entiUed 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 07th Day of February, 2025).

¶45

Ow'u (RAMESHWAR KOTHE) PRESIDING OFFICER

Hdfc Bank Ltd, v. Nelluru Vinay Kumar

Case brief

What is this about?

What did the court decide?

Hdfc Bank Ltd, v. Nelluru Vinay Kumar

Case brief

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What did the court decide?

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