Allowed

Punjab National Bank v. Madishetty Pravalika

DRT25 Sept 2023OA/713/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the applicant Bank's Original Application for recovery of a debt sum from eight defendants. The defendants appeared ex-parte. The court held them jointly and severally liable to pay the claim amount with interest, secured by mortgage, and ordered the issuance of a Recovery Certificate.

What did the court decide?

Defendants jointly and severally liable to pay Rs. 99,18,194.10 with interest and costs; Recovery Certificate issued.

Punjab National Bank versus Madishetty Pravalika — Banking and Recovery | DRT (2023)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD DATED THIS THE 25th DAY OF SEPTEMBER, 2023

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

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Original Application No: 7L3 OF 2022

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Punjab National Bank, Circle SASTM Hyderbad, Plot No. 03, Regency Plaza, Maitrivihar Area,Ameerpet, Hyderabad-500038. Rep. by its Chief Manager.

¶5

.....Applicant.

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Versus

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Mr. lvladishetty Pravlika W/o. Mr. Kiran,

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Aged: 36 Years, Occ: House wife, H.No. 34-91, 3rd Floor,

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Ajay's Raghava Residence, Road No.6, Vivekanandapuram, Secunderabad-500094.

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Mrs. Radha Lakshmi Ketharaju Wo.^{Late VaradRaju Kasyapa,} Aged: 58 Years, Occ: Housewife, H.No. 34-91, 3d Floor, Ajay's Raghava Residence, Road No.6, Vivekanandapuram, Secunderabad-500094.

¶11

Mr. Ketharaju Sai Pradeep S/o. Late Varada Raju Kasyapa, Aged: 38 Years, Occ: Private Employee, H.No. 34-54/1, Vivekanandapuram, Opp. Joyces Villa, Sainikpuri Post, Malkajgiri, Hyderabad-500091.

¶12

Mr. Hari Ram Choudary S/o. Dholaram choudary,

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@**

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oa-No.7L3l2O22

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Aged: 48Years,Occ:Busjness, H.No.10-3-1 1-A,Addagutta, NearBusstop,NehruNagar, EastMareddpally, Secunderabad-500026.
5.Mrs.Prema Choudhary Wo.HariRamChoudhary, Agedi47Years,Occ:Housewife, H.No.10-3-11-A, Addagutta, NearBusstop,NehruNagar, EastMareddpally, Secunderabad-500026.
6.Mr. CheruvukommuRaviKumar S/o.LateSadanandam, Aged:35 Years,Occ:Business, H.No.4-32-624,^ptotNo. B-919, Phase-I, JalakanyaHostel, AllwynColony, Kukatpally, Hyderabad-500072.
7.Mr.KetharajuMahesh Chandra Kasyapa, S/o.LateVarada RajuKasyapa, Aged:40 Years,H. No.34-91, 3dFtoor, Ajay'sRaghava Residence,RoadNo.6, Vivekandandapuram,Secunderabad-SOOO94.
8.lvlr.Ketharaju SrinivasSudha Sravan S/o.LateVardaRaju Kasyapa, Aged:35years,H.No.34-91,3'dFloor, Ajay'sRaghava Residence,RoadNo.6, Vivekandandapuram,Secunderabad-5OO094

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...Defendants

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Counsel for the Applicant Defendants Exparte

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Mr. N.V. Subba Raju

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:: ORDER::

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The Applicant Bank filed the present OA for the recovery a total sum of Rs.99,18,194.10ps as on 31.08.2022 from the lM"'*

¶21

oA.NO.713/2022

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defendants^{jointly and severallywith future interest@ 10'7oolo} p.a. wlth monthly rests from^{01.09.2022 till the date of} realisation along with^{costs and in defaultfor sale of OA} schedule^proPerty.

¶24

They were set exparte^{on 27.O3.2023as calledabsent and no} representation.

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The Applicant Bank examined^{N chandrashekar,Branch} Manager, as AW-l^{and marked 18 documentsthrough himas} Ex. A.1 to Ex.^A.18.

¶26

Heard the Ld. counsel^{for the Applicant Bankand perused the} material^placed on record.

¶27

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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As stated supra, the^{Defendantsremainedex-parteThe} Evidence Affidavit^{coupled r'lith the recitals in thedocuments} viz., Exs. A.1 to^{A.18 marked on behalf of the ApplicantBank} clinches the claim^{of the ApplicantBankagainstthe Defendants'} Hence, I hold that^{the Defendants are jointly and severallyliable} to^pay the OA claim to^{the ApplicantBankwith future interest} and costs.

¶30

In the result, the^{present Original Appllcation N,'7L312O22 is} allowed as under:^-

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i) The Defendants are^{jointly and severally} liable to^pay to^{the ApplicantBank a sum of} Rs.99,18.194.10ps^{with future interest @} N*e

¶32

¶33

oA.NO.713l2022

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8.2Oo/o 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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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.

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Issue Recovery Certificate accordingly.

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Communicate a copy of this order to the parties concerned. (Oictated to the steno, corrected, signed and pronounced by me in the open court on this the 25b day of September, 2023) .

¶41

W^"'o" (RAMESHWAR KOTHE) PRESIDING OFFICER

Punjab National Bank v. Madishetty Pravalika

Case brief

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Punjab National Bank v. Madishetty Pravalika

Case brief

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