Allowed

Hdfc Bank Ltd. v. M/S Krishna Marketing

DRT15 Sept 2025OA/695/2022

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed an original application filed by HDFC Bank Ltd. for recovery of loans against respondents M/s. Krishna Marketing and its partners. Each defendant was jointly and severally liable to pay principal, interest, and costs, with entitlement to realize dues via hypothecated assets and personal properties.

What did the court decide?

Defendants directed to pay Rs.1,34,91,721.89/- with future interest and costs; bank entitled to proceed against hypothecated assets and properties for realization.

Hdfc Bank Ltd. versus M/S Krishna Marketing — Banking and Recovery | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD

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DATED THIS THE 15TH DAY OF SEPTEMBER, 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: 695 OF 2022

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HDFC 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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.....Appricant.

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Versus

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M/s.Krishna Marketing.. Offlce at 7-3-116 /tr7/778 Sy.Nos.72 & 73, cagan Pahad Kattedan LD.E, Hyderabad - 5OOO77. Rep by its Partners Mr.Chitresh Jain & Mrs. Mohini Jain

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Mr.Chitresh lain, S/o.Rakesh Roshan Jain, Aged about 26 Years Occ: Partner of M/s.Krishna Marketing R/o.Flat No.504, 5th Floor, KBR Manicom Residency, Srinagar Colony Hyderabad - 500073.

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l"lrs.Mohini lain, D/o.Rakesh Roshan lain, Aged about 28 Years Occ: Partner of M/s.Krishna Marketing R/o.Flat No.504, 5th Floor, KBR lYanicom Residency, Srinagar Colony Hyderabad - 500073.

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... Defendants

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

Defenda nts

I Ex-pafte(fu,.1#

oA.NO.69s/2022

:: (LLLLL ::

The Applicant Bank filed the present OA for the recovery a total sum of Rs.1,34,9 L,771.89ps i.e., a sum of Rs.1,05,79,757.89ps towards A/c. Nos.50200042620A75 & 83824338 and a sum of Rs.29,11,964/- towards A/c.No.8120502 from the defendants jointly and severally with future interest @18o/o p.a. from the date of application till the date of realization along wlth costs and in default for sale of hypothecated assets.

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Summons served on D1 to 3 through paper publication. They were set ex-parte on 08.03.2023 as called absent and no representation.

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The Applicant Bank examined V.V.Pavan Kumar, Legal Manager, as AW-1 and marked 06 documents through him as Ex. A.1 to Ex. A.06 and examined Gayathri P S, Legal Manager, as AW-1 and marked 10 documents through her as Ex. A.06 to Ex. A.16.

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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 assets2

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As stated supra, the Defendants remained ex-parte. The Evidence Affldavit coupled wlth the recitals in the documents viz., Exs.A.1 to 4.16 marked on behalf of the Applicant Bank clinches the claim of the Applicant ntBankBank a gainEt swer:ldantslhe Defeldants.

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oa.No.69s/2022

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Hence, I hold that the Defendants are^jointly and severally liable to pay the OA claim to the Applicant Bank wlth future interest and costs.

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In the result, the^present Original Application No.695/2022 is 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.1,34,91,721.89ps i.e., the defendants 1 to 3 are^jointly and severally liable to pay a sum of Rs.1,05,79,757.89ps towards A/c. Nos.5020004262087 5 & 83824338 and the defendants 1& 2 are jointly and severally liable to pay a sum of Rs.29,11,964/- towards A/c.No.8120502; with future interest @8.70olo 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 hypothecatlon 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;

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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 fol the costs. ffi.o"$

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oA.NO.695/2022

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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 15th Day of September, 2025).

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$?f (RAMESHWAR KOTHE) PRESIDING OFFICER

Hdfc Bank Ltd. v. M/S Krishna Marketing

Case brief

What is this about?

What did the court decide?

Hdfc Bank Ltd. v. M/S Krishna Marketing

Case brief

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What did the court decide?

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