The Tribunal allowed an Original Application for recovery of dues totaling Rs. 29.27 lakhs by the PNB against the defendant, who remained absent. The claim was established via documentary evidence, and a Recovery Certificate was issued.
Defendant directed to pay Rs. 29,27,256.43 with future interest and costs; Recovery Certificate issued.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD DATED THIS THE 2oih DAY OF DECEMBER, 2023
PRESENT: SH. RAMESHWAR KOTHE, B.Com, L.L.B. (HonS.), M.A. PRESIDING OFFICER
ORIGINAL APPLICATION No. 106 OF 2023
Punjab National Bank (erstwhile Oriental Bank of Commerce) Rep. by its Chief N4anager Circle SASTRA Hyderabad, Regency Plaza, Maitrivainam Area, Ameerpet, Hydera bad-500038
.....Appticant.
Versus
M/s. Sri Raghavendra Technologies Rep. by its Sole proprietor lvl r. M. Sudhakar Reddy Plot No. 39, H.No. 8-246/5/ New Maruthi Nagar,Opp. ApR Garden, Near Mandha Mallamma Function Hall, Champapet, Sagar Road, Hyderabad-500079
...... Defenda nt.
Counsel for the Applicant : Ms.prabha prasad. Defendants : Exparte,Exparte,
: Exparte,Exparte,
ORDER
fY''"o
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2
30.09.2022 till the date ofrealizationalong with costsand in default for sale of OA Scheduleassets.
Whether the APPlicant Bank is entitled for the claim madein the OA against the Defendantand oA Schedule assets2
i) the Defendant ls liable topay tothe Applicant Bank a sum ofRs.29 ,27 ,256.43ps with future interest @960lop.a. simple from Aw*
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3
the date of application till the date of realization;
ii) the OA claim is secured by way of hypothecation of assets described in the schedules annexed to the OA and the applicant bank is entitled to proceed against the same for recovery of its dues;
iii) the applicant bank is also entitled to proceed against the properties of the defendant for realization of its dues;
iv) the applicant bank is entitled for the costs.
(RAMESHWAR KOTHE) PRESIDING OFFICER
1 issue framed by the court
Whether the Applicant Bank is entitled for the claim made in the OA against the Defendant and OA Schedule assets
1 provisions across 1 enactments
Punjab National Bank (erstwhile Oriental Bank of Commerce)
Rameshwar Kothe
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
