Allowed

Hdfc Bank Ltd. v. M/S. Sai Surface Coating Technologies

DRT24 Jun 2025OA/732/2023

Case brief

AI extract

What is this about?

The DRT allowed the debt recovery application filed by HDFC Bank Ltd. against three respondents for a loan amount of Rs. 32,79,946.23 plus future interest and costs. The respondents were ex-parte and the court upheld the bank's liability against them.

What did the court decide?

Defendants directed to jointly and severally pay Rs. 32,79,946.23 with future interest at 14% p.a. simple from application date till realization along with costs.

Hdfc Bank Ltd. versus M/S. Sai Surface Coating Technologies — DRT (2025) — LawSathi Research

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IN THE DEBTS RECOVERY TR]BUNAL-II AT HYDEMBAD DATED THIS THE 24'II1 DAY OF JUNE, 2025

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PRESENT: SH. RAN4ESHWAR KoTHE, B.com., L.LB. (Hons.), M,A. PRESIDING OFFICER

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Originat Application No: 732 OF 2023

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H DFC BanK Ltd., H,aving its office at * t-10-60/3, l'' Floor, Suryodaya Complex, Begumpet, Hyderabad - 500016. Rep. by its Authorized Signatory.

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.. .Applica nt

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Versus

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M/s..Sai Surface Coating Technologies., Rep by its Authorised Signatory Plot No.17lA,^phase I1I, pashamaitaram Patancheru, Near Kirby Build ing, Hyderabad, Telangana - SO23O7 .

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Ms. Meka lhansi Visalakshi, O/o. Export Cone 174,^phase 3 IDA, Pashamyla ra m, Hyderabad, Telangana - 502307 .

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Ms. lvleka Suryaharsha Vardhan, O/o, Export Cone 17A,^phase 3 IDA, Pasha mylaram, Hyderabad, Telangana - 502307.

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.... .. Defendants

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Cou nsel for the Applicant

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: M/s. Srihari Bathina

Defendants

: Ex-parte

:: ORDER ::

The Applicant Bank filed the present OA for the recovery of a sum of Rs.32,79,946.23es towards Loan A/c. Nos.121735995 & 5373965 from the defendants jointly and severally with future interest @140lo /- }1-.obL.?a^t !

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OA.No.732l2023

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p.a. along with^{interest@2olop m from the date of appllcation till} the date^{of realisationalongwith costs'}

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2.SummonsservedonDlto3throughpaperpublication'Theywere set ex-parte^{on 14} '02'2024^{as called absentand no representation'}

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The Applicant^{Bank examined SumayaShaik' Legal Manager as Aw-} 1 and^{marked 05 documentsthrough her as Ex A'1 to Ex A 5'}

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Ld. Counsel^{for the ApplicantBank stated orders may be passed on} merits and^{perused the materialplaced on record'}

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

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Whether^{the Applicant Bank is entitled for} the claim^{made in the OA against the} Defendants?

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As stated^{supra, the Defendantsremained ex-parte' The Evidence} Affidavit^{coupledwiththe recitals in the documents viz'' Exs'A 1 to} A.5 marked^{on behalf of the Applicant Bank clinchesthe claim of the} ApPlicant^{Bankagainst the Defendants'Hence' I hold that the} Defendants^{are jointly and severallyliable to pay the OA claim to} the Applicant^{Bank with future interestand costs'}

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In the^{result, the present OriginalAPplication No'73212023is} allowed as under:^-

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i) The Defendants^are iointly^{and severally liable to pay to} the Applicant Bank a^{sum ofRs'32,79,94623ps} towards Loan^{A/c. Nos.121735995& 5373965with} future interest @14olo^{p.a. simple, from the date of} application till^{the date of realizationi,4W'nV9}

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OA.No.732l2OZg

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ii) the applicant bank is also entitled to proceed against the person and properties of the defendant for

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rea lization of its dues;

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iii) 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., transcribed by him, corrected, signed and pronounced by me in the open court on this the 24th day of June, 2025).

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frw*

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1nh(esnwnR^KorHE) PRESIDING OFFICER

Hdfc Bank Ltd. v. M/S. Sai Surface Coating Technologies

Case brief

What is this about?

What did the court decide?

Hdfc Bank Ltd. v. M/S. Sai Surface Coating Technologies

Case brief

What is this about?

What did the court decide?

What the court decided

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