Allowed

Hdfc Bank Ltd., v. Mr. Kurli Siva Reddy

DRT31 Jan 2025OA/74/2024

Case brief

AI extract

What is this about?

In Original Application No. 74/2024, the DBT-II at Hyderabad allowed a recovery claim by HDFC Bank Ltd. against three defendants who were ex-parte, directing them to jointly and severally pay the outstanding debt, interest, and costs.

What did the court decide?

Defendants held jointly and severally liable to pay Rs.56,44,387/- with future interest and costs; debt secured by mortgaged properties; Recovery Certificate issued.

Hdfc Bank Ltd., versus Mr. Kurli Siva Reddy — Banking and Recovery | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD

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DATED THIS THE 315T DAY OF JANUARY, 2025

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PRESENT: SH. RAMESHWAR KOTHE, B.Com., L.LB. (Hons.), M.A. PRESiDING OFFICER

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ORIGINAL APPLICAT]ON Noi 74 OF 2024

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HDFC Ba nK Ltd., Havlng its office at Bank House # 6-3-246 & 6-3-244/A, 6th Floor, Roxana Palladium, Road No.1, Banjara Hills, Hyderabad - 500034, Rep. by its Authorized Signatory.

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.....Applica nt.

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Versus

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Mr.Kurli Siva Reddy, S/o.K.Mal Reddy, Aged about 66 Years, Occ: Agriculture, R/o.H.No,2-75, lv'la llika rju na puram, Erraballe, Pulivendula, Cuddapah-516390.

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2, lvlrs.Kurli Sujathamma, W/o.Siva Reddy, Aged about 60 Years, Occ: Housewife, R/o.H.No.2-75, Mallikarjunapuram, Erraballe, Pu livendu la, Cudda pa h-516390.

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[4r.Vudela Ganga Sasikanth Reddy, S/o.Gangi Reddy, Aged about 31 Years, Occ: Business, R/o. H. No.4- 10-214- 1, Near Pradeep Eye Hospital, Prashanthi Nagar, Pulivendu la, Cuddapah - 516390.

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... Defendants

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Counsel for the Applicant : I4r.M.Srinivas Reddy Defenda nts ,rr-runw*

oA.NO.74l2024

:: qLLEB ::

The Applicant Bank filed the present OA for the recovery a total sum of Rs.56,44,387/- frcm the defendants^jointly and severally with @ 10.05%^p.a. from 77.tO.2O23^(cash credit & DOD loan facilities) the statement date to the date of award/decree and thereafter @18o/o p.a. compounded with monthly rests from the date of application till the date of realization along with costs and in default for sale of OA schedule properties.

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Summons served on D1 to 3. They were set ex-parte on 01.08.2024 as called absent and no representation.

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The Applicant Bank examined D.Suresh, Deputy Legal Manager, as AW-1 and marked 13 documents through him as Ex. A.1 to Ex. A.13.

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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 ls:-

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Whether the Applicant Bank is entitled for the claim made in the OA against the Defendants and OA schedule properties?

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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.13 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

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oA.NO.74l2024

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to pay the OA claim to the Applicant Bank with future interest and costs.

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In the result, the present Original Application No.74/2024 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.56,44,387l- with future interest @10.05% 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 mortgage of properties 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 31't day of January, 2025).

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)Y*,*

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SHWAR KOTHE) PRESIDING OFFICER

Hdfc Bank Ltd., v. Mr. Kurli Siva Reddy

Case brief

What is this about?

What did the court decide?

Hdfc Bank Ltd., v. Mr. Kurli Siva Reddy

Case brief

What is this about?

What did the court decide?

What the court decided

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