Allowed

Hdfc Bank Ltd. v. M/S Sri Vasavi Industries

DRT3 Jul 2025OA/874/2023

Case brief

AI extract

What is this about?

This order dismisses an ex-parte application by HDFC Bank for recovery of dues exceeding Rs.1 crore from five joint borrowers. The tribunal found the defendants jointly and severally liable based on marked documents, directing issuance of a recovery certificate.

What did the court decide?

Defendants jointly and severally liable to pay Rs.1,07,60,835.56 with future interest @8.25% p.a., costs, and proceeds against mortgaged property.

Hdfc Bank Ltd. versus M/S Sri Vasavi Industries — Execution and Attachment | DRT (2025)

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IN THE DEBTS RECOVERY^{TRIBUNAL-II AT HYDERABAD} DATED THIS THE^{O3RODAY OF ]ULY, 2025}

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PRESENT: SH. RAMESHWAR^{KOTHE,B.Com., L.LB. (Hons ), 14 A} PRESIDING OFFICER

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ORIGINAL^APPLICATION No: 874 OF 2023

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H DFC BANK Ltd., Having its office at^{# 1-10-60/3,} 3'd Floor(3A),^{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. Sri Vasavi^Industries., Rep by its Authorised^Signatory SID lw I Cl o. Survey^No.351, Adoni Road, SirugupPa^BellaryDT x Andhra Pradesh - 583101.

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Also at:-

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2/97, SBr, l't Colony, Adoni - 518501.

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M r.Shivashankara Reddy Gududura S/o. Not Known, Survey No.351 Adoni Road, Siruguppa Bellary DT x Andhra Pradesh - 583101.

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Also at:-

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2/91, SB1, 1st Colony, Adoni - 518501.

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Mr. G. K.Jaya Prakash Reddy S/o. Not Known, Survey No.35t Adoni Road, Siruguppa Bellary DT X Andhra Pradesh - 583101.

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Mrs.A. Sivakanthamma S/W / D/F / o. G.curunatha Reddy R/o. H.No.2/45, Madigeri, Adoni Kurnool, Adoni(M), Andhra Pradesh.

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;flm'e"^'* U//'''g'*u'

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oa.No .87 412023

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Mrs.G.K. Parvathamma S/W /DlF/o.c.vitupaksh i Reddv R/o. 2/91, SBl, 1'r Cotony, Adoni - 518501.

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... Defendants

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Counsel for the Applicant

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: I\4/s.Srihari Bathina

Defendants

:Ex-parte

:: oRDER ::

The Applicant Bank filed the present OA for the recovery a total sum of Rs.1,07,60,835.56ps towards Loan A/c. Nos.5020000 2347040 & 8160131 from the defendants jointly and severa y with future interest @9.8oyo , B.25Vo, 9.650/o & 9.25o/o p.a, along with interest @20lo p.m. from the date of application till the date of realization along with costs and in default for sale of OA schedule property.

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Summons served on D1 to 5. They were set ex-parte on 22.02.2024 as called absent and no representation.

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The Applicant Bank examined Sumaya Shaik, Legal Manager, as AW-1 and marked 05 documents through her as^{Ex. A.1} to^Ex. A.05.

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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 schedule property?

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oA.NO.874l2023

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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.05 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 Application No.87412023^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.1,07,60,835.56ps towards Loan A/c. Nos. 50200002347040 & 8160131 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 mortgage of property 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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iri) 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 Mfmo within 2 weeks from the date of receipt of this order. ffi"o

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oA.NO.874l2023

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Issue Recovery Certificate according ly.

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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 thls the O3'd Day ofJuly, 2025).

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PRESIDING OFFICER

Hdfc Bank Ltd. v. M/S Sri Vasavi Industries

Case brief

What is this about?

What did the court decide?

Hdfc Bank Ltd. v. M/S Sri Vasavi Industries

Case brief

What is this about?

What did the court decide?

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