Allowed

Hdfc Bank Ltd. v. M/S. Sree Eco Lighting Solutions

DRT9 Jul 2025OA/455/2024

Case brief

AI extract

What is this about?

A Debt Recovery Tribunal allowed an Original Application filed by a bank against borrowing company and individuals for recovery of dues of Rs.29 lakhs secured by hypothecated assets in the absence of defaulting defendants.

What did the court decide?

Order allows the Original Application; Defendants are liable to pay Rs.29,91,810.24 with future interest; Bank may proceed against hypothecated assets and defendants' properties; Cost memo directed.

Hdfc Bank Ltd. versus M/S. Sree Eco Lighting Solutions — Banking and Recovery | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL.II AT HYDEMBAD DATED THIS THE O9TH DAY OF JULY, 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: 455 OF 2024

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HDFC Bank Ltd., Department For Special Operations H.No.6-3-246 & 6-3-244/ A, 4rH Floor, Desk No.o196, Roxana Palladium, Road No.1, Banjara Hills, (Besides Virinchi Hospital), Hyderabad District - 500034. Rep. by its Authorized Signatory.

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.....Appticant.

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Versus

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M/s. Sree Eco Lighting Solutions., Rep by its Partners M r.lvlatta pa rthy Srinivas and Mattaparthy Sripuma, D.No.8-4918 CHR Plaza, NH 5 Road, Above ICICI Bank, Lankelapalem Junction Vishakapatnam, Andhra Pradesh - 530046, Telangana State.

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Mr. Mattaparthy Srinivas S/o. Mattaparthy Venkata Satyanarayana Murthy, Age Major, Occ: Business H.No.1-10-397, 397/7 to 7, Flat No.304A, Brahamanwadi, Lakeview, Mirra Residency, Begumpet, Railway Station Road, Hyderabad - 500016, Telangana State.

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Mrs. Mattaparthy Sripurna Wo.^{Mr. Mattaparthy} Srinivas Age Major, Occ: Business H.No.1- 10-397, 397/7 to 7 Flat No.304A, Brahamanwadi, Lakeview Mirra Residency, Begumpet. Railway Station Road, Hyderabad - 500016,^ Telangana state:

...Defendants oxrt

oA.NO.4ss/2024

Counsel for the^APP|icant

: M.V, KINI

Defendants

:Ex-parte

:: 9lgE3 ::

The Applicant Bank^{filed the present OA for the recovery a total} sum of Rs.29,91,810.24ps^{as on 31'08.2024fromthe} defendants^{jointly and severally with future interest@18o/o p a'} from the date of^{application till the date of realizationalong} wlth costs and in default^{for saleof hypothecated assets}

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summons served on D1,^{whereas summons servedon D2 and} 3 through^{paperpublication. They were set ex-parteon} 21.03.2025 as called^{absentand no representation.}

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The Applicant^{Bank examined SrikanthSukhivasi,Senior} Manager, as AW-1 and^{marked 32 documentsthrough himas} Ex.A.1 to Ex.A.32.

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Ld. Counsel for the^{ApplicantBank reported orders may be} passed through merits. Perused^{the materialplaced on record'}

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The^point that arises^{for considerationis:-}

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Whether the Applicant^{Bank is entitled} for the claim made in the^{OA against} the Defendants and^{OA hypothecated} assefs?

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As stated supra,^{the Defendants remained ex-parte. The} Evidence Affidavit coupled with^{the recitalsin the documents} viz., Exs. A.1 to A.32 marked on^{behalf of the Applicant Bank} clinches the claim of^{the Applicant Bank against the Defendants.} Hence, I hold that the Defendants^{are jointlyand severallyliable} to^pay the OA claim to^{the Applicant-Bank} ' '^{with futureinterest} ,Zloutz.-

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and costs. (r/ "^t''-

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oA.NO.4sslz024

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In the result, the present Original Application No.455/2024 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.29,91,810.24ps as on 31.08.2024 with future interest @t2.75o/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 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 debu

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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 Ce rtificate 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 09'h Day ofJuly,^2025).

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..,

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(RAMESHWAR KOTHE) PRESIDING OFFICER

Hdfc Bank Ltd. v. M/S. Sree Eco Lighting Solutions

Case brief

What is this about?

What did the court decide?

Hdfc Bank Ltd. v. M/S. Sree Eco Lighting Solutions

Case brief

What is this about?

What did the court decide?

What the court decided

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