Allowed

Punjab National Bank v. Sh Seetharam Thejavath

DRT30 Oct 2023OA/742/2022

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed the original application filed by Punjab National Bank for recovery of Rs.29,37,894/- plus interest from the defendant doctor for whose liability the bank produced sufficient evidence and the defendant remained absent.

What did the court decide?

Defendant directed to pay Rs.29,37,894/- with future interest and costs; OA claim secured by hypothecation; recovery certificate to be issued.

Punjab National Bank versus Sh Seetharam Thejavath — Banking and Recovery | DRT (2023)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-N AT HYDERABAD DATED THIS THE 3oth DAY OF OCTOBER, 2023 PRESENT: SH. RAMESHWAR KOTHE, B.Com., L.LB. (Hons.), M.A. PRESIDING OFFICER

¶2

Original Application No: 742 OF 2022

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Punjab National Bank, Branch office at SASTM, Circle Office Secunderabad, 2nd Floor, l4aharishi House, Road No. 3, Banjara Hills, Hyderabad-500034. Rep. by its Chief N4anager. .....Applicant. Versus Sh Seetharam Thejavath S/o. Bixam, Aged: Major, Occ: Doctor, H. No. 3-132, Post and Village Lal Thanda, Sirikonda, Mothey lYandal-508212, Suryapet District, Tela ngana. Also at: SVDS Tejas Hospitals, lvl.G. Road, Suryapet-508213. ...Defendant Counsel for the Applicant : M/s. V. Raghu Defendants : Exparte :: g-B-Dl-B fu*

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oa.No.7 4212022

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¶6

The Applicant^{Bankfiledthe present OA for the recoverya total} sum of^{Rs.29,37,8941-frcm the defendantalong with} subsequent^interest @^{10.15o/oand penal interest @2olo P'a'} with monthly rests^{fromthe dateof applicationtill the date of} realisation^{alongwith costs and in defaultfor sale of OA} schedule assets.

¶7

Summons served^{on sole defendantthrough paper publication'} He was set^{exparteon 10.02.2023as called absent and no} representation.

¶8

The Applicant^{Bankexamined M.M Chisti,lv'lanager(Law),as} AW-1 and^{marked 20 documents through himas Ex A l to Ex'} A^.)N

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Heard the^{Ld. Counsel for the Applicant Bank and perused the} material Placed^{on record.}

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The^point that^{arisesfor considerationis:-}

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Whether the^{Applicant Bank is entitled} for the claim^{made in the oA against} the Defendant^{and OA schedule} assets ?

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As stated^{supra, the Defendant remainedex-parte'The} Evidence Affidavit^{coupled with the recitals in the documents} viz., Exs.^{A.1 to A 20 marked on behalf of the AppllcantBank} clinches the^{claim of the Applicant Bank against the Defendant'} Hence, I^{hold that the Defendant ls liableto pay the.oAclaimto} the Applicant^{Bankwith future interest and costsy'/\o.,:>} L-,/ 't9''

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oa-No.7 42/2022

¶14

In the result, the present Original Application No.74212022 is allowed as under: -

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i) The Defendant is liable to pay to the Applicant Bank a sum of Rs.29,37,894/- with future interest @ 10.15o/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 hypothecation of assets described in the schedule annexed to the OA and the applicant bank is entitled to proceed against the same realise its debu

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iii) the applicant bank is also entitled to proceed against the person and properties of defendant for realization of its dues;

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iii) 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 Certifi cate accordingly.

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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 this the 3Od day of October, 2023) .

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$.'so

¶23

HWAR KOTHE)

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PRESIDING OFFICER

Punjab National Bank v. Sh Seetharam Thejavath

Case brief

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Punjab National Bank v. Sh Seetharam Thejavath

Case brief

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