Allowed

Hdfc Bank Ltd. v. M/S. Jasnavi Enterprises

DRT24 Jul 2025OA/712/2022

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed the Original Application filed by HDFC Bank Ltd. against four defendants jointly and severally liable to pay the loan amount, interest, and costs, and授权 recovery from the hypothecated vehicle. Defendants were heard ex-parte.

What did the court decide?

Directing defendants to pay Rs.31,48,639.52 with interest and costs; allowing proceeds against hypothecated vehicle and personal properties; issuing a recovery certificate.

Hdfc Bank Ltd. versus M/S. Jasnavi Enterprises — 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^{24TH DAY OF ]ULY, 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: 712 OF 2022}

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HDFC Bank Ltd., Having its office at^{# 1-10-60/3,} 3'd Floor, 34, SuryodaYa^ComPlex, Begumpet, Hyderabad^{- 500016.} Rep. by its Authorlzed^SignatorY.

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...,.Applicant.

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Versus

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M/s. Jasnavi Enterprises., Rep by its Authorised SignatorY Mr. Kambalapally Madhavi H.No.4-9-750lD, Lecturers^ColonY Hayathnagar, Peddapalli,^{Telangana-501505.}

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Kambalapally Madhavi

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C/o. Mohan Reddy Manchi^ReddY R/o.H.No. 1-61, CherlaPatel^Guda Ibrahimpatnam, Hyderabad,^{Telangana-501506.}

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Madhavi Varakantham

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C/o.Dasari Malla Reddy,^{R/o.H.No'4-9-750/D} Plot No.4, Lecturers Colony, Hayathnagar Peddapalli, Telangana-501505.

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Varakantham Mahipal Reddy C/o. V.Sathi Reddy, R/o.H.No.4-9^-7 50/^D Plot No.4, Lecturers Colony, Hayathnagar Peddapalli, Telangana-501505.

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... Defendants

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: M/s. Srihari Bathina Counsel for the Applicant Defendants : Ex-ParteNP

oA.NO.772/2027

:: ORDER ::

The Applicant Bank filed the present OA for the recovery a total sum of Rs.31,48,639.52ps towards Loan A/c.Nos.9256931, 9256933 and 8496155 from the defendants joinfly and severally with future interest @10.46%, 19.50% & 9.65olo p.a. along 20/o p.m. interest from the date of apprication tiil the date of realization along with costs and in default for sale of hypothecated vehicle.

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Summons served on D1 to 4. They were set ex_parte on 08.03.2023 as called absent and no representation.

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The Applicant Bank examined Sumaya Shaik, Legal Manager, as AW-1 and marked 07 documents through her as Ex. A.1 to Ex. 4.07.

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Ld. Counsel for the Applicant Bank reported orders may be passed through merits. 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 entiiled 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 Evidence Affidavit coupled with the recitals in the documents viz., Exs. A.1 to A.07 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendants. Hence, I hold that the Defendants are joinfly and severally liable to pay the OA claim to the Applicant Bank with future interest and costs. ,rys)'e

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0A.NO.7tzlZ0Z2

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In the result, the present Original Application No.712/2022 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.31,48,639.52ps towards Loan A/c. Nos. 9256931, 9256933 and 8496155 with future interest @9.650lo 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 vehicle 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 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 24rh Day of July, 2025).

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/'/M/^)s\c'',n n
I //'""r\t)'-
(RATTESHWAR KOTHE)
PRESIDING OFFICER

Hdfc Bank Ltd. v. M/S. Jasnavi Enterprises

Case brief

What is this about?

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Hdfc Bank Ltd. v. M/S. Jasnavi Enterprises

Case brief

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What did the court decide?

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