Allowed

Hdfc Bank Ltd. v. Mr.Orsu Venkatesh

DRT8 Jan 2025OA/710/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal-I at Hyderabad passed an order in an Original Application filed by HDFC Bank Ltd. for recovery of Rs. 30 lakhs against two defaulting borrowers. Finding the defendants ex-partem and the evidence clinching the bank's claim, the Tribunal held the defendants jointly and severally liable, directed the sale of the hypothecated vehicle, and allowed the bank to proceed against

What did the court decide?

The Original Application was allowed. Defendants are jointly and severally liable to pay the sum with future interest and costs. Bank is entitled to proceed against the hypothecated vehicle and the pe

Hdfc Bank Ltd. versus Mr.Orsu Venkatesh — Contract and Commercial Disputes | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD DATED THIS THE OSth DAY OF ]ANUARY, 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: 710 OF 2022

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HDFC Bank Ltd., Having its offlce at # 1-10-60/3, 3'o Floor, 3A, Suryodaya Comptex, Begumpet, Secunderabad Manda l, Hyderabad - 500016. Rep. by its Authorized Signatory.

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. ....Applica nt.

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Versus

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Mr.Orsu Venkatesh, S/o.Yadagiri Orsu, Age 30 Years, Occ: Business, R/o. H. No.2-74, Kondapuram, Chandur, Nalgonda, Telangana - 508244.

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Bandameedi Swamy, S/o.Sailu Bandameedi, Age 30 Years, Occ: Buslness, R/o. H.No.11-5, Sayigoni Bavi, Narayanpur, Puttadaka, Na lgonda, Tela nga na - 508253.

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. .. Defenda nts

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Counsel for the Applicant : N4/s.Srihari Bathina

Defendants

: Ex-pa rte

:: ORDER ::

The Applicant Bank filed the present OA for the recovery a total sum of Rs.30,27,103.78ps with interest @ 10.15olo & 9.65% p.a. for loan accounts 83599334 & 8914315 along with future I^t\t ."'

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oA.NO.710/2022

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interest @^2olo p.m. from the^{defendants jointlyand severally} from the^date of application^{till the date of realizationalong} in default^{for saleof hypothecated vehicle'} with costs^and

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Dl and^{2. TheY were set ex-Parteon}

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2, Summons^{served on} absent and^{no rePresentation'}

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08.03.2023^{as called}

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The Applicant^{Bank examined SumayaShaik' Legal Manager'as} AW-1 and^{marked04 documentsthrough her as Ex' A'1 to Ex'} A.04.

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Ld. Counsel^{for the ApplicantBank reported ordersmay be} passed through^{merits. Perused the materlal placed on record'}

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

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Whether^{the Applicant Bank is entitled} for the^{claim madein the OA against} the Defendants^{and OA hYpothecated} vehicle?

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As^{stated supra, the Defendants remained ex-parte The} Evidence^{Affidavitcoupledwith the recitals in the documents} viz., Exs.A.1^{to A.04 marked on behalf of the Applicant Bank} clinchestheclaimoftheApplicantBankagainsttheDefendants. Hence,^{I hold that the Defendantsare jointlyand severallyliable} to^pay the^{OA claim to the Applicant Bank with future interest} and costs.

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In allowed the result,^{as under: the -Present} Original^{Application No'710/2022} Wr"^is

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oA.NO.710/2022

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The Defendants^{are jointly and severally}

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i) liable to^{pay to the Applicant Bank a sum of} Rs.30,27,103'78ps^{with futureinterest} @8'25% P'a'^{simPle from the date of} application^{till the date of realization;}

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ii) the^{oA claim issecured bY way of} hypothecation^{of vehicle described in the} schedule^{annexed tothe OA and the} applicant^{bank is entitledto proceed against} the same^{to realiseits debt;}

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

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iv) the^{applicant bank is entitledfor the costs'}

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B.^{The Applicant Bank is directed to file CostMemowithin2 weeks} from the^{date of receipt of this Order'}

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Issue^{Recovery Certificate accordingly'}

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10.^{Communicatea copy of this order} !-o-tl:-.pun'"t^{!o!t"'n!9-- ^-} tJ'lected'^{signedand pronouncedbyme in the opencourt on}

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(Dictated to tnt 't"no, ihis the^{08'" Day of Januarv'2025)}

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/ -. \\nt ,.,.:\ Il
I -,. 1,. ,

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(RAMESHWih .PRESIDING KOTHE) OFFICER

Hdfc Bank Ltd. v. Mr.Orsu Venkatesh

Case brief

What is this about?

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Hdfc Bank Ltd. v. Mr.Orsu Venkatesh

Case brief

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What did the court decide?

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