Allowed

Kotak Mahindra Bank Limited v. Mr. Shaik Pasha

DRT2 Sept 2025OA/598/2024

Case brief

AI extract

What is this about?

The Tribunal allowed the bank's Original Application for recovery. It held defendants jointly and severally liable to pay the debt and costs, secured by the hypothecated vehicle, as defendants remained absent.

What did the court decide?

Defendants held jointly and severally liable to pay Rs. 22,34,616.12 with interest and costs; claim secured by hypothecated vehicle; recovery certificate issued.

Kotak Mahindra Bank Limited versus Mr. Shaik Pasha — Banking and Recovery | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL.II AT HYDERABAD DATED THIS THE O2ND DAY OF SEPTEMBER, 2025

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PRESENT: SH. RAN,IESHWAR KOTHE, B.Com., L.LB. (HonS.). M.A. PRESIDING OFFICER

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ORIGINAL APPLICATION No: 598 OF 2024

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Kotak Mahind ra Bank Ltd., Having its Branch Office at # 6-3-L09/t/PI302, 3'd Floor Jewel Pavani Towers, Rajbhavan Road Somajiguda, Hyderabad - 500082. Rep. by its Authorized Signatory.

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.....Applicant.

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Versus

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Mr. Shaik Pasha, S/o.Shaik Ghouse Aged about 52 Years, Occ: Business R/o. H. No.3- 5- 16, Tatiguda Adilabad - 504001.

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l4r. M A Zahed, S/o. f4 A Rasheed Aged about 28 Years, Occ: Business R/o. H. No.1-5-67lC/ 10, Masood Nagar Adilabad - 504001.

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... Defendants

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Counsel for the Applicant : M/s.M.Srinivas Reddy

Defendants

: Ex-pa rte

:: ORDER ::

The Applicant Bank filed the present OA for the recovery a total sum of Rs.22,34,616.12ps 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 I rr* ..;

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default for sale of hypothecared vehicle,^, ; )ji^'-'

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oA.NO.s98/2024

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Summons served on D1,^{whereassummons servedon} o2 on

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through paper^publication. They^{were set ex-parte} 25.04.2025 as called^{absentand no representation.}

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The Applicant Bank examined^{P.S.Abhishek,Legal Manager,as} AW-1 and marked 07^{documentsthroughhim as Ex. A.1toEx.} A.07 .

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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 the Defendants and OA^hypothecated vehicle?

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As stated supra,^{the Defendants remained ex-parte. The} Evldence Affidavit^{coupled with the recitalsln the documents} viz., Exs.A.1 to A.O7^marked on^{behalf of the ApplicantBank} 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 future interest} and costs.

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In the result, the^present Original^{Application No.598/2024ls} allowed as under:^-

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i) The Defendants are^jointly and^severally liable to^pay to the Applicant Bank a^total sum of Rs.22,34,616.12Ps with^future -i,'fr6,-'

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oA.NO.S98/2024

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interest @11.74olo^{p.a. simple from the date} of appllcation 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 entltled} 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 lts 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 within2 weeks} from the date of receipt of this^Order.

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Issue Recovery Certifi cate accordingly.

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Communicate a copy of this^{order to the parties concerned.} (Dictated to the steno, corrected, signed and^{pronouncedby me in the open court on} this the O2"d^Day of^{September, 2025).}

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PRESIDING OFFICER

Kotak Mahindra Bank Limited v. Mr. Shaik Pasha

Case brief

What is this about?

What did the court decide?

Kotak Mahindra Bank Limited v. Mr. Shaik Pasha

Case brief

What is this about?

What did the court decide?

What the court decided

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Issues for consideration

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