Allowed

Hdfc Bank Ltd., v. G.v.Harinadha Babu

DRT8 Apr 2025OA/950/2023

Case brief

AI extract

What is this about?

In an ex-parte hearing, the Debts Recovery Tribunal at Hyderabad allowed the Original Application filed by HDFC Bank Ltd. for recovery of dues. The court held the defendants jointly and severally liable to pay the claimed amount with future interest and costs, and directed issuance of a Recovery Certificate.

What did the court decide?

Grant of sum of Rs.1,54,64,287.13 with future interest, entitlement to proceed against mortgaged and personal properties, direction for recovery certificate.

Hdfc Bank Ltd., versus G.v.Harinadha Babu — Banking and Recovery | DRT (2025)

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

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

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ORIGINAL APPLICATION No: 950 OF 2023

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HDFC Bank Ltd., Having 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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.....Applicant.

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Versus

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Mr.G,V.Harinandha Babu, S/o.G. Basetty, Aged about 56 Years, Occ: Agriculture, R/o.H.No.B-B-39, S LN Nagar, Allagadda Village & Mandal, Kurnool District - 518543.

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Mr.G.V.Naveen Kumar, S/o.G.V.Harinadha Babu,

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Aged about 27 Years, Occ: Business, R/o.H.No.B-B-39, S L N Nagar, Allagadda Village & Mandal, Kurnool District - 518543.

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Mr.S.Balakrishna, S/o.Balaiah, Aged about 45 Years, Occ: Business, R/o.H.No.B-B-31, S L N Nagar, Allagadda Village & Mandal, Kurnool District - 518543.

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Mr.Shaik Dastagiri, S/o.Shaik Chinna Moddin Saheb, Aged about 51 Years, Occ: Business, R/o. H. No.6- 1 O- L22, Vijayapuri Street, Near Majid, Allagadda, Kurnool Dist-518543.

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/ ._ )t'p'.,g x"\ .>^{" 'Defendants}

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oA.NO.9s0/2023

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Cou nsel for the Applicant

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: lv'lr.M.Srinivas Reddy

Defenda nts

: Ex-parte

:: qLLE& ::

The Applicant Bank filed the present OA for the recovery a total sum of Rs.1,54,64,287 .L3ps from the defendants joinuy and severally with @ 11olo p.a. from 24.05.2023 (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 to 4. They were set ex-parte on 7O.O4.2024 as called absent and no representation.

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The Applicant Bank examined D.Suresh, Deputy Legal l4anager, as AW-1 and marked 25 documents through him as Ex.A.1 to Ex.A.25.

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Ld. Counsel for the Applicant Bank reported orders may be passed through merlts. 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 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.25 marked on behalf of the Applicant Bank N*e

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oA.NO.9s0/2023

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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,950/2023 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.L,54,64,287.13ps with future interest @10.05o/o^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 debu

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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. Zfl26tt u 9. Issue Recovery Certificate accordingly.

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oA.NO.9s0/2023

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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 thistheosthdayorAprir,2o2s).

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/fl$**V

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h*ilesnwnR^KorHE) PRESIDING OFFICER

Hdfc Bank Ltd., v. G.v.Harinadha Babu

Case brief

What is this about?

What did the court decide?

Hdfc Bank Ltd., v. G.v.Harinadha Babu

Case brief

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