Allowed

Hdfc Bank Ltd. v. M/S. Catalog It Solutions Private Limited

DRT2 Sept 2025OA/447/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the bank's Original Application against three defendants. The bank claimed recovery of a loan sum of Rs. 5,42,14,404.29 with interest and costs. The defendants, represented by their guarantors, appeared via summons and attachment. The presiding officer noted defendants' absence, verified the evidence affidavit and marked documents, and held them jointly and seve

What did the court decide?

Defendants jointly and severally liable to pay Rs. 5,42,14,404.29 with future interest and costs; OA claim secured by schedule properties.

Hdfc Bank Ltd. versus M/S. Catalog It Solutions Private Limited — Banking and Recovery | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL.II AT HYDEMBAD DATED THIS THE O2ND DAY OF SEPTEMBER, 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: 447 OF 2024

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H DFC Ban k Ltd., Department For Special Operatlons H.No.6-3-246 & 6-3-244/A, 4rH Floor Desk No.0196, Roxana Palladium, Road No.1 Banjara Hills, (Besides Virinchi Hospital), Khairatabad Mandal, Hyderabad - 500034. Rep, by its Authorized Signatory.

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.....Applicant.

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Versus

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M/s.Catalog It Solutions Private Limited., Rep by its Directors and Guarantors Mr. Lagumavarapu Venkata Guru Abhiram & Mrs. Sanja na Lagumavarpu Suit No.216, 2nd Floot, Prajay Corporate House, Chikoti Gardens, Near Prakash Nagar Metro Station, Hydera bad Telangana State - 500016.

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Also at:-

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lvl/s.Catalog It Solutions Private Limited., Rep by its Directors and Guarantors lYr. Lagumavarapu Venkata Guru Abhiram & lvlrs. Sanjana Lagumavarpu, D.No.403 lvletro Residency, Rajbhavan Road Somajiguda, Hyderabad, Telangana State-500082.

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Mr.Lagumavarapu Venkata Guru Abhiram S/o. Lagumavarapu Srinivasa Rao Age 21 Years, Occ: Business, 4-41/A Sri Venkateshwara Nilayam, Vikas Nagar Dilsuknagar, Hyderabad, Telangana State-500060.

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14 rs. Sanjana Lagumavarpu D/o. Bikshapathi Chandra, Age 44 Years Occ: Business, H.No.76- 1I-7 41 /C/ A/27

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Itt'n.-' , ;I.F "

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oa.No.M7l2024

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Near Bindu Hospitals, Shalivahana Nagar Dilsuknagar, Hyderabad Telangana State - 500036.

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... Defendants

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Counsel for the Applicant Defendants

: M/s. M.V. KINI

:Ex-parte

::^qLLE& ::

The Applicant Bank filed the present OA for the recovery a total sum of Rs,5,42,14,404.29ps as on 31.07.2024 & 19.08.2024 from the defendants^jointly and severally with future interest @18o/o^p.a. from the date of application till the date of realization along with costs and in default for sale of OA schedule^properties.

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Summons served on D1 to 3 through paper publication. They were set ex-parte on 13.06.2025 as called absent and no representatlon.

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The Applicant Bank examined Srikanth Sukhavasi, Senior Manager, as AW-1 and marked 34 documents through him as Ex. A.1 to Ex. A.34.

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Heard the Ld. Counsel for the Applicant Bank. 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 'properties? the Defenclants and OA /ilw"uschedule a'

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oa.No.447 /2024

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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.34 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendants. Hence, I hold that the Defendants are joinly 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 Apptication No.447 lZOZ4 is allowed as under: -

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i) The Defendants are joinuy and severally liable to pay to the Applicant Bank a sum of Rs.5,42,14,404.29ps with future interest @9.75o/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 mortgage of properties 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 entiued 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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The Applicant Bank is directed to file Cost Memo within 2 weeks from thedateof receipt of this otdet./%:.>c1

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oA.NO.447l2O24

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o Issue Recovery^{Certificate accordingly'}

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Communicate^{a copy of this order to the parties concerned'} toiJ,"a^{to the steno, coriected, signedand pronounced by me in the open courton} ihis the^{ozno Day of September, 2025)'}

¶39

,mxl,, PRESIDING^OFFICER

Hdfc Bank Ltd. v. M/S. Catalog It Solutions Private Limited

Case brief

What is this about?

What did the court decide?

Hdfc Bank Ltd. v. M/S. Catalog It Solutions Private Limited

Case brief

What is this about?

What did the court decide?

What the court decided

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