Allowed

Punjab National Bank v. M/S Mavailla Agencies

DRT19 Sept 2024OA/739/2023

Case brief

AI extract

What is this about?

In Debts Recovery Tribunal-II, Hyderabad, the court disposed of an under-recovery dispute where defendants were absent. The court held that the Defendants are jointly and severally liable to repay the claimed amount of Rs.25,11,064/- with interest, secured by mortgaged properties and personal assets, and granted costs.

What did the court decide?

Defendants held jointly and severally liable to pay Rs.25,11,064/- with interest; OA claim secured by mortgaged properties; bank entitled to proceed against personal properties; costs awarded.

Punjab National Bank versus M/S Mavailla Agencies — Banking and Recovery | DRT (2024)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD DATED THIS THE 19th DAY OF SEPTEMBER,2024 PRESENT : sH. RAM ESHflAT#RIrj;ru,...."fl ., L, LB. ( Hons. ), M.A.

¶2

ORIGINAL APPLICATION No: 739 OF 2OZ3

¶3

PUNJAB NATIONAL BANK Chitoor Branch, Chitoor l:-.9, 1t.^{p_T.entrv pi rrJa} witn Llrcle SASTRA Centre. z/-J3_40, 1't Floor, Guc i;:^{i *l j:i} ?dt t^{J'i.'# l' ;T;, ",.u "'} Kep. by its Chief Maniger.

¶4

.....Applicant.

¶5

Versus

¶6

' #; fflJl?a".,","": n ss R.ad, l,ld?i{{ sJl;tr:t

¶7

'#ry*f;iicoronv,

¶8

Also at:_

¶9

l;ffip,{fu,,i4:li:^"".

'#"1{f.t,{:rz:,

lalaji Colony,

@ffi",

oa,No.739l2023

RTC Depot^{HospitalRoad,} Chitoor,^{A. P-517001.}

¶15

Also at:-

¶16

Door. No.^{14- 193/A,} Kadhar^{Meeran Street,} Chitoor, A-P - 517001.

¶17

And also at:^-

¶18

H.No.28-603,^{GanganaPalle,} Chitoor,^{A.P - 517001'}

¶19

"^Defendants

¶20

Ap^{plica nt} Counsel^{for the}

¶21

M/s.Muralidhar^Patnaik

: Ex-Parte

Defendants

::^ORDER::

--^ '^"^verv^{a total}

¶26

' i::'j:"":::::^:1","#|"t't ::"^{J:ti J;' :::} t^',1"lorroou'ooo01o13 rrom^tt'- lrr" r'u' v"ith monthlv ::l{"s.'1';5m:i^{r; ;:"I'::'::: ::} 1:?::"J:?^{:1"'::;" :;'re Pr'Pe*res}

¶27

--r^{? throuqhPaPerPublication'}

¶28

a sumrnons^{.""d ol^ o'. '-:0"'', aa"r"-" set ex-pateon} ' il;;:'.."11^l"jJ,l"il"l"",-"o,"'."''"" 13.06^{2024as calleo (}

¶29

r chiva Komara,^{Legar Manager,as} ",;; ;lhp.:,."

¶30

"^{rhe Appricant t.": -"i"JI}^**"*j;:".". ' o-'^{and marked 21 ou"" -} W$

¶31

A.21

¶32

oA.NO.739l2023

¶33

¶34

Heard the Ld. Counsel for the Applicant Bank. perused the material placed on record.

¶35

The point that arises for consideration is:-

¶36

Whether the Applicant Bank is entitled for the claim made in the OA against the Defendants and OA schedule properties?

¶37

As stated supra, the Defendants remained ex-parte. The Evidence Affidavit coupled with the recitals in the documents viz., Exs. A.1 to A.21 marked on behalf of the Applicant Bank 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 ahd costs.

¶38

In the result, the present Original Application No.73912023 is allowed as under: -

¶39

i) The Defendants are jointly and severally liable to pay to the Applicant Bank a sum of Rs.25,11,064/- under Cash Credit Facitity A/c. No.4017008700001013 with future interest @10.25olo p.a. simple from the date of application till the date of realizationi

¶40

ii) the OA claim is secured by way of mortgaged properties described in the schedule annexed to the OA and the applicant b?nk is entitled OY*"-

¶41

oA.NO.739/2023

¶42

¶43

to^proceed against^{the same to realise its} debt;

¶44

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

¶45

iv) the applicant^{bank is entitledfor the costs'}

¶46

Bank is directed to^{file Cost Memo within2 weeks}

¶47

d, The Applicant from the date of receipt of this^Order.

¶48

9, Issue Recovery Certificate^accordingly.

¶49

Communicate a^{copy of this order to the parties concerned'} (Dictated to the steno, corrected,^{signedand pronounced by me in the open courton} this the 19th Day^{of September, 2024).}

¶50

Kq'r$r'r ESHWAR KOTHE) PRESIDING OFFICER

Punjab National Bank v. M/S Mavailla Agencies

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. M/S Mavailla Agencies

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

Coram

Case details

Similar cases

Farhana K C versus Canara Bank

Bank of Baroda (E-Vijaya Bank) versus Sh.Sukhavinder Singh

Union Bank of India (E-Andhra Bank) versus M/S Jmb Steel

Punjab National Bank versus Paramdeep Singh

Bank of Baroda versus Nitu Devi

Union Bank of India versus Ms Sunita Enterprises