Allowed

Hdfc Bank Ltd., v. Aleti Sathish Reddy

DRT8 Apr 2025OA/871/2023

Case brief

AI extract

What is this about?

The DTII Hyderabad allowed an Original Application filed by HDFC Bank Ltd. for recovery of dues from two defendants, holding them jointly and severally liable for the principal, future interest, and costs based on unchallenged documentary evidence.

What did the court decide?

The defendants are jointly and severally liable to pay Rs. 55,92,717.13 with future interest and costs; the claim is secured by mortgaged properties; a Recovery Certificate is issued.

Hdfc Bank Ltd., versus Aleti Sathish Reddy — Execution and Attachment | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL.II AT HYDERABAD

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DATED THIS THE OBTH DAY OF APRIL, 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: 871 OF 2023

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HDFC Bank Ltd., Having its office at Bank House # 6-3-246 & 6-3-2441A,6th Floor, Roxana Palladium, Road No.1, Banjara Hills, Hyderabad - 500034. Rep. by its Authorized Signatory

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....Applicant.

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Versus

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Mr.Aleti Sathish Reddy,

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S/o.Padmanabha Reddy,

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Aged about 53 Years, Occ: Business,

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R/o. H.No.301, GRB Towers,

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Near Hanuman Temple, Gollapet, Nirmal District - 504106.

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Also at:-

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Cl o.4-4-36, Somawarpet Village, Nirmal Mandal & District - 504106.

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Mr.Anireddy Sagar Reddy, S/o.Naga Reddy, Aged about 45 Years, Occ: Business, R/o. H. No. 3- 13, Tejapur Village, Nerdigonda Mandal, Adilabad District - 504323 .Defendants

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Counsel for the Applicant : Mr.M.Srinivas Reddy

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Defendants : Ex-parte

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:: ORDER ::

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The Applicant Bank filed the present OA for the recovery a total sum of Rs.55,92,777.13ps from the defendants^jointly and

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oA.NO.871/2023

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severally with @ 11%^p.a. from 04.07.2023^(cash credit & DoD Loan facilities) the statement date to the date of award/decree and thereafter @180/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 through paper^publication, whereas summons served on D2. They were set ex-parte on 16.07.2024 as called absent and no representation.

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The Appllcant Bank examined D.Suresh, Deputy Legal Manager, as AW-1 and marked 16 documents through him as Ex. A.1 to Ex. A.16.

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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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5, 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 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.16 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 tgJ:he Applicant Bank with future interest and costs. /,{rrh / !q ,.' ',/^{</sup> --{.r1\tcrt,'}

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oA.NO.871l2023

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In the result, the present Original Application No.g7L/2023 allowed as under: _

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i) tne Defendants are joinUy and severally Iiable to pay to the Applicant Bank a sum of Rs.55,92,717.13ps with future interest @10.05olo 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 entiued for the costs.

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B. The Appricant Bank is directed to fire 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 pronorn.!J Uy me in the open court on this the 08th day of Aprit,2025).

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[4W"'u (MKESHWAR KoTHE) PRESIDING OFFICER

Hdfc Bank Ltd., v. Aleti Sathish Reddy

Case brief

What is this about?

What did the court decide?

Hdfc Bank Ltd., v. Aleti Sathish Reddy

Case brief

What is this about?

What did the court decide?

What the court decided

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Issues for consideration

Statutes considered

Parties & counsel

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