Allowed

Hdfc Bank Ltd., v. M/S Vbj Capstone Builders Private Limited

DRT9 Apr 2025OA/795/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an application filed by HDFC Bank Ltd. for recovery of dues against respondents, who were represented ex-parte through publication of summons.

What did the court decide?

Defendants liable to pay Rs. 44,02,384.85 with future interest at 8.25 p.a.; bank entitled to proceed against hypothecated vehicle and properties for realization; costs awarded.

Hdfc Bank Ltd., versus M/S Vbj Capstone Builders… — Contract and Commercial Disputes | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD DATED THIS THE O9t,' DAY OF APRIL, 2025

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

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ORIGINAL APPLICATION No: 795 OF 2023

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H DFC Ban k Ltd., Having its office at # 1-10-60/3, 3'd Floor, Suryodaya Complex, Begumpet, Secunderabad Ma ndal, Hyderabad - 500016. Rep. by its Authorized Signatory.

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.....Applicant.

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Versus

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lv1/s.VBl Capstone Builders Private Limited., Represented by its Director Mr.Venkata Prasad Guptha Kandula, H.No.8-2-704/Bl C/2, Plot No.34, 2nd Floor, Sai Enclave, Banjara Hills, Hyderabad, Tela nga na - 500034.

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2, Mr.V. Prasad Guptha Kandula, S/o. M r. Nageshwa r Rao Kandula, Director of I4/s.VBl Capstone Builders Private Limited., H. No.8-4-300, F.No.5104, Brindava n Apts, I\4otinagar, Erragadda, Hyderabad - 500018.

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. .. Defendants

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: M/s. N. B.Sudarshan Counsel for the Applicant

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Defendants : Ex-parte

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:: ORDER ::

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1, The Applicant Bank fiied the present OA for the recovery a tota sum of Rs.44,02,384.85ps from the defendants jointly and

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oa.No.79s12023

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severally with future interest @24olo p.a. from the date of in application till the date of realization along with costs and default for sale of hypothecated vehicle.

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Summons served on D1 and 2 through^{paper publication.} They were set ex-parte on t4,06.2024 as called absent and no representation.

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The Applicant Bank examined Sumaya Shaik, Legal N'lanager, as AW-1 and marked 08 documents through her as Ex. A.1 to Ex. A.08.

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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 entitled 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 Affldavit coupled with the recitals in the documents viz., Exs.A.1 to A.08 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 to pay the OA claim to the Applicant Bank with future interest and costs.

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In the result, the present Original ,4pplication No.79512023 is allowed as under: - ' "XV<.\s

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)''o,,'

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oA.NO.79s/2023

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i) The Defendants are jointly and severally liable to pay to the Applicant Bank a sum of Rs.44,02,384.85ps with future interest @8.25olo^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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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 09th Day of April, 2025).

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(RAMESHWAR KOTHE) PRESIDING OFFICER

Hdfc Bank Ltd., v. M/S Vbj Capstone Builders Private Limited

Case brief

What is this about?

What did the court decide?

Hdfc Bank Ltd., v. M/S Vbj Capstone Builders Private Limited

Case brief

What is this about?

What did the court decide?

What the court decided

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Issues for consideration

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