Allowed

Hdfc Bank Ltd. v. Ashok Palem

DRT18 Feb 2025OA/877/2023

Case brief

AI extract

What is this about?

This Order allowed an Original Application filed by HDFC Bank Ltd. for recovery of Rs. 27,10,608.56 plus future interest and costs from two defendants. The court held the defendants jointly and severally liable based on documentary evidence, allowing proceedings against hypothecated vehicle and other properties.

What did the court decide?

Defendants ordered to pay Rs. 27,10,608.56 + future interest @ 10.93% p.a.; applicant bank entitled to proceed against hypothecated vehicle and properties.

Hdfc Bank Ltd. versus Ashok Palem — Banking and Recovery | DRT (2025)

¶1

IN THE DEBTS^{RECOVERYTR]BUNAL.II AT HYDERABAD} DATED THIS THE^{18th DAYOF FEBRUARY,2025}

¶2

PRESENT: SH.^{RAMESHWAR KOTHE,B.COM.,L.LB. (HONS.), M.A.} PRESIDING OFFICER

¶3

ORIGINAL APPLICATION^{No: 877 OF 2023}

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H DFC BANK Ltd., Having its office at^{# 1-10-60/3,} 3'd Floor, 4A, Suryodaya^Complex, Begu mpet, Hyderabad^{- 500016.} Rep. by its Authorized^Signatory.

¶5

.....Applicant.

¶6

Versus

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Ashok Palem, S/o.Anjajah^Palem, Age 33 Years, Occ:^Buslness, H. No.3- 56/a, Koth^ulapuram, Narayanapuram,^{N a lgonda - 508 2 53.}

¶8

Palem An itha,^{D/o.AyyannaGopagoni,} Age 25 Years, Occ:^{Pvt Service,} H. No.3-56la,^{Kothu la pura m,} Na rayanapuram,^{Nalgonda- 508253.}

¶9

... Defendants

¶10

Counsel for the^APPlicant

:Dr.M.P.KashyaP

Defendants

:Ex-parte

::^{qLqE& ::}

The Applicant Bank^{filed the present OA for the recoverya total} sum of Rs.27,10,608.56ps^{from the defendantsjointly and} severally with future interest @10.93olo^{p.a. from the date of} application till the date of^{realization alongwith costs and in} default for sale of hypothecated^vehicle. /^t!)</te| 7 lg'

¶16

¶17

oa.No.a77/2023

¶18

Summons served on D1 and 2. They were set ex-parte on 73.77.2024 as called absent and no representation.

¶19

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.

¶20

Ld. Counsel for the Applicant Bank reported orders may be

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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 enti ed 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 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 join y and severally liable to pay the OA claim to the Applicant Bank with future interest and costs.

¶25

In the result, the present Original Application No.B77/2023 is allowed as under: -

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i) The Defendants are joinfly and severally liable to pay to the Applicant Bank a sum of Rs.27,10,608.56ps with future interest fiso'-n

¶27

oA.NO.877l2023

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@10.93olo^{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^propertiesof 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 within2 weeks} from the date of receipt of this Order,

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Issue Recovery Certificate accordingly.

¶34

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 18th Day of February,2025).

¶35

PRESIDING OFFICER

Hdfc Bank Ltd. v. Ashok Palem

Case brief

What is this about?

What did the court decide?

Hdfc Bank Ltd. v. Ashok Palem

Case brief

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What did the court decide?

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