Allowed

Hdfc Bank Ltd. v. M. Balaguri Venkatesh

DRT9 Jan 2025OA/634/2023

Case brief

AI extract

What is this about?

In ex-parte proceedings, the Tribunal allowed the bank's original application for recovery of loan dues and credit card dues totaling Rs. 25.5 lakh with interest and costs, declaring defendants jointly and severally liable.

What did the court decide?

Defendants to pay Rs. 25,59,385.48 with interest; bank entitled to proceed against hypothecated assets and defendants' properties; recovery certificate issued.

Hdfc Bank Ltd. versus M. Balaguri Venkatesh — Banking and Recovery | DRT (2025)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDEMBAD

¶2

DATED THIS THE Ogth DAY OF ]ANUARY, 2025

¶3

PRESENT: SH. RAMESHWAR KOTHE, B.COM., L.LB,^{(HONS.), M.A.}

¶4

PRESIDING OFFICER

¶5

ORIGINAL APPLICATION No: 634^{OF 2023}

¶6

H DFC Bank Ltd., Having its office at # 1-10-60/3, 3'd Floor, 34, Suryodaya Complex, Bequmpet, Hyderabad - 500016. Rep. by its Authorized Signatory.

¶7

.....Applicant.

¶8

Versus

¶9

lvl. Ba lguri Venkatesh,

¶10

S/o.Anjaiah Maragon i,

¶11

Age 38 Years, Occ: Business, R/o.Flot NO.43, Dwarakamai

¶12

Nagar Colony, V Puram, Hyderabad, Telangana - 500070.

¶13

Also at:-

¶14

R/o. H. No.3-40, Chityala lYandal, Sunkenally, Nalgonda, Telangana - 508114.

¶15

Balguri Anitha,

¶16

R/o. Plot No.3, Dwarakamai Nagar

¶17

Colony, Vanasthalipu ram, Hydera bad, Tela ngana - 500070.

¶18

...Defendants

¶19

: lvl/s.Srihari Bathina Counsel for the Applicant

¶20

Defendants : Ex- parte

¶21

:: qLLLL ::

¶22

The Applicant Bank filed the present OA for the recovery a total sum of Rs.25,59,385.48ps together with interest @9.95olo, 9ryo, '\r$ .1.,-^{' c-}

¶23

oA.NO.634/2023

¶24

9.25olo & 9.25o/o lor loan accounts 84295338, 110108015, A935377 & 453107783 and also availed credit card AAN0001011740001813142 per annum from the defendants jointly and severally along with future interest @2yo p.m. from the date of application tlll the date of realization along with costs and in default for sale of hypothecated assets.

¶25

Summons served on D1 and 2. They were set ex-parte on 29.12.2023 as called absent and no representation.

¶26

The Applicant Bank examined Sumaya Shaik, Legal Manager, as AW-1 and marked 06 documents through her as Ex. A.1 to Ex. A.06.

¶27

Ld. Counsel for the Applicant Bank reported orders may be passed through merits. Perused the material placed on record.

¶28

The point that arises for consideration is:-

¶29

Whether the Applicant Bank is entitled for the claim made in the OA against the Defendants and OA hypothecated assets2

¶30

As stated supra, the Defendants remained ex-parte. The Evidence Affidavit coupled with the recltals in the documents viz., Exs. A,1 to A.06 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 Banklith future interest / l,ll\t,-./\C,

¶31

and costs. // '-oix - (-,,

¶32

oA.NO.634/2023

¶33

¶34

In the result, the present Original Application No.634/2023 is allowed as under: -

¶35

i) The Defendants are jointly and severally liable to pay to the Applicant Bank a sum of Rs.25,59,385.48ps under loan accounts 84295338, 110108015, 8935377 & 453t07783 and also availed credit card AAN0001011740001813142 with future interest @8.25% p.a, simple from the date of application till the date of realization;

¶36

ti) 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 debt;

¶37

iii) the applicant bank is also entitled to proceed against the person and properties of defendants for realization of its dues;

¶38

iv) the applicant bank is entitled for the costs.

¶39

B. The Applicant Bank is directed to file Cost Memo within 2 weeks from the date of receipt of this Order.

¶40

Issue Recovery Certificate accordingly.

¶41

Communicate a copy of this order to the^parties concerned, (Dlctated to the steno, corrected, signed and pronounced by me in the open court on this the Ogth Day of January, 2025).

¶42

...n9

¶43

ESHWAR KOTHE) PRESIDING OFFICER

Hdfc Bank Ltd. v. M. Balaguri Venkatesh

Case brief

What is this about?

What did the court decide?

Hdfc Bank Ltd. v. M. Balaguri Venkatesh

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

Coram

Case details

Similar cases

Ms Om Oil and Ginning Industries versus State Bank of India

Jammu and Kashmir Bank Limited versus Mr. Jahangir Ahmad Bhat

Baljit Kaur versus Catholic Syrian Bank Limited

Hdfc Bank Ltd., versus Mrs.Boadsu Renuka

Canara Bank versus K Sambaiah

The Karur Vysya Bank Limited versus Gaddam Saritshwar Rao