Allowed

Kotak Mahindra Bank Limited v. M/S. Shree Krishna Roadways

DRT18 Jun 2025OA/609/2024

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed an original application filed by Kotak Mahindra Bank for recovery of Rs. 1,11,12,024.84 from M/s. Shree Krishna Roadways and partners, ruling them jointly and severally liable and directing issuance of a Recovery Certificate.

What did the court decide?

Recovery of Rs. 1,11,12,024.84 plus future interest at 10.45% p.a.; issuance of Recovery Certificate.

Kotak Mahindra Bank Limited versus M/S. Shree… — Contract and Commercial Disputes | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD

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DATED THIS THE 18TH DAY OF JUNE, 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: 609 OF 2024

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M/s.Kotak Mahindra Bank Ltd., Having its Office at 3d Floor, Jewel Pawani Towers, Raj Bhavan Road, Somajiguda, Hyderabad-500082. Rep. by its Authorized Sigiratory.

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.....Applicant.

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Versus

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M/s. Shree Krishna Roadways, Represented by its^partners, Mr.Kewal Krishan & Mrs.Neha Verma, No.5, Block No.38, Auto Nagar, Opp Express Roadways, Vanasthalipuram, Ranga Reddy, Telangana - 500070.

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Mr.Kewal Krishan, S/o. Mestry Dasraj, H.No.5-4-1054, Plot No.17, Road No.2, Subhadra Nagar, Vanasthalipura m, Opp N4ore Super lvlarket, Ra ngareddy, Telangana - 500070.

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lvlrs. Neha Verma, Wo. Keswal Krishan, H. No.5-4- 1054, Plot No.17, Road No.2, Subhadra Nagar, Vanasthalipu ram, Opp More Super Market, Ranga reddy, Telangana - 500070.

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...Defendants

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Counsel for the Applicant

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Defenda nts

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: M/s.N. B.Sudarshan :Ex-paftey'k$e

oA.NO.609/2024

:: CLLLLL^::

The Applicant^{Bank filed the present OA for the recovery a total} sum of^Rs.1,11 ,12,024'84ps^{as on 04 11 2024 from the} defendants^{jointlyand severally with future lnterest@180/0 p'a} from the date^{of application tlll the date of realizationalong} with costs and^{in default for sate of hypothecated vehicles'}

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Summons^{servedon Dl to 3They were set ex-parte on} 07.O3.2025^{as catled absent and no representation'}

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The Applicant^{Bank examined Abhishek'P'S' Legal Manager'as} AW-1 and^{marked07 documentsthrough him as Ex A'1 to Ex'} A.07.

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Ld. Counsel^{for the APPIicant} Bank reported^{ordersmay be} the material Placed^{on record.}

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passed through^{merits. Perused}

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

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Whether the^{Appticant Bank is entitled} For the ctaim^{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^{coupledwith the recitalsin the documents} vlz., Exs. A.1^{to A.07 markedon behalfof the Applicant Bank} clinches the^{claim of the Applicant Bank against the Defendants'} Hence, I hotd that^{the Defendantsare jointlyand severallyliable} to^pay the OA^{claim to the ApplicantBank with futureinterest} and costs. 69 6t0.""

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oA.NO.509/2024

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In the result, the present Original Application No,609/2024 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.1,11,12,024.84ps as on 04.11.2024 with future interest @10.45olo 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 vehicles 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 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 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 18 ' Day of June, 2025).

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K*to"

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ESHWAR KOTHE) PRESIDING OFFICER

Kotak Mahindra Bank Limited v. M/S. Shree Krishna Roadways

Case brief

What is this about?

What did the court decide?

Kotak Mahindra Bank Limited v. M/S. Shree Krishna Roadways

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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