Allowed

Hdfc Bank Ltd., v. Bachanagoni Srishailam

DRT31 Jan 2025OA/52/2023

Case brief

AI extract

What is this about?

Debt Recovery Tribunal allowed an Original Application filed by HDFC Bank Ltd. for recovery of a loan amount of Rs. 31,80,977.47 along with future interest and costs from the defendants, confirming their joint and several liability and entitlement to proceed against hypothecated vehicle and other properties.

What did the court decide?

Defendants ordered to pay Rs. 31,80,977.47 + future interest and costs; Bank entitled to enforce security on hypothecated vehicle and proceed against respondents' properties.

Hdfc Bank Ltd., versus Bachanagoni Srishailam — Contract and Commercial Disputes | DRT (2025)

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]N THE DEBTS RECOVERY TR]BUNAL-II AT HYDERABAD DATED THIS THE 31ST DAY OF JANUARY, 2025

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

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ORIGINAL APPLICATION No: 52 OF 2023

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H DFC BanK Ltd., Having its oFfice at # 1-10-60/3, 3'd Floor, Suryodaya Complex, Begumpet, Secunderabad Mandal, Hyderabad - 500016. Rep. by its Authorized Signatory.

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. ....Applica nt.

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Versus

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M r. Bachanagon i Srishailam,

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S/o. Ram ulu Bacha nagoni, Age 28 Years, Occ: Business,

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R/o.H.No.4-5-238, Priyada rshin i Colony, Hayathnagar, Hyderabad, Secu nderabad, Tela ngana-501505.

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lvlrs.Bachanagoni Mou nika, D/W/o. Bachanagoni Srisailam, Aqe 24 Years, Occ: Business, R/o.H.No.4-5-238, Priyada rsh in i Colony, Hayathnagar, Hydera bad, ...Defendants

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Telangana-501505.

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: M/s.Srihari Bathina Counsel for the Applicant

Defendants

: Ex-pa rte

:: qLLqL ::

The Applicant Bank filed the present OA for the recovery a total sum of Rs.31,80,917.47ps under Loan A/c,Nos.85177379 &

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oA.NO.s2l2023

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8755639 from the defendants^jointly and severally with^future interest @9.2470 & 8.25olo^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 vehlcle.

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Summons served on D1 and 2 through^{paper publication.} They were set ex-parte on 12.70.2023 as called absent and no representation.

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

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Ld. Counsel for the Applicant Bank reported orders may be 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 Eank is entitled for the claim made in the OA against the Defendants and OA hypothecated 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.07 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendants. Hence, I hold that the Defendants are jointly 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 No.52l2023 is altowed as under: - ,frt2int-i

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,)'

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oA.NO.s2l2023

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i) The Defendants are jointly and severally liable to pay to the Applicant Bank a sum of Rs,31,80,977,47ps under Loan A/c. Nos. 85177379 & 8755639 with future interest @8.25olo^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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U. 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 a cco rd in^g 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 3l't Day of January, 2025).

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(RAMESHWAR KOTHE) PRESIDING OFFICER

Hdfc Bank Ltd., v. Bachanagoni Srishailam

Case brief

What is this about?

What did the court decide?

Hdfc Bank Ltd., v. Bachanagoni Srishailam

Case brief

What is this about?

What did the court decide?

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