Allowed

Punjab National Bank v. M/S Sony Digi Press

DRT21 Mar 2024OA/798/2022

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed Punjab National Bank's application for recovery of Rs. 27,10,661/- from defendants jointly and severally with future interest, confirming liability based on ex-parte evidence.

What did the court decide?

Defendants jointly and severally liable to pay Rs. 27,10,661/- with future interest; bank entitled to realize dues from assets and properties.

Punjab National Bank versus M/S Sony Digi Press — Banking and Recovery | DRT (2024)

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IN THE DEBTS^{RECOVERYTRIBUNAL-II AT HYDERABAD}

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DATED THIS^{THE21St DAY OF MARCH, 2024}

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PRESENT: SH.^{RAMESHWARKOTHE, B.COM., L.LB' (HONS.),M.A.} PRESIDING OFFICER

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Original Application^{No: 798 OF 2022}

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Punjab National^Bank, # 27-33-40,^{1* Floor,} Gudavallivari^Street, Besant Road^Cross, Governor Pet, Vijaywada-520002' n6p. uy itr cni"f uunug".. ".'Applicant'

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Versus

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M/s. SonY^{Digi Press,}

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Rep. by its sole^ProP. Mrs. Sharakonda^Bindu, # 4Ol3O4, KJ ComPlex, The Mourya Inn, Kurnool, Andhra Pradesh-518003.

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Sri. Sharakonda^Bindu, D/o. S.zakaiah, Age: Major, Occ: Business, H.No.45-24R-33-1, Sri Krishna Colony, Ashok^Nagar, Kurnool, Andhra Pradesh-518001.

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Sri. B. Anil Kumar, S/o. B.Victor David, Age: Major, Occ: Business, H.No. 40122 B, Bengarpeta, Kurnool, Andhra Pradesh.

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Also at:

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Sri. B. Anil Kumar, S/o. B.Victor David, PH Maistre, Kurnool Municipal Corporation, Kurnool, Andhra Pradesh. , r4*_<^ t__/^/r.t -^</sup>

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oA.NO.798/2022

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Sri. S. Venkateshwarlu,

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Age: Major, Occ: Business, S/o. S.Zakaiah, H.No.45-24R-31-1, Sri Krishna Colony, Ashok Nagar, Kurnool, Andhra Pradesh-518001.

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....Defendants

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Counsel for the Applicant Defendants

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Mr. R.Rajendra Prasad

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Exparte

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:: CLLLER ::

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The Applicant Bank filed the present OA for the recovery a total sum of Rs.27,10,661/- i.e. (Rs.25,87,595/- and Rs.1,23,066/-) from the defendants jointly and severally future interest @ 9.65o/o p.a. with monthly rests with penal interest @ 2olo respectively from the date of OA application till the date of realization along with costs and in default for sale of OA schedule assets.

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Summons served on D1 through paper publication, whereas summons served on D2, 3 and 4. They were set exparte on 19,06.2023 as called absent and no representation.

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The Applicant Bank examined B.Anil Kumar, Chief tvlanager, as AW-1 and marked 14 documents through him as Ex. A.1 to Ex. A.14.

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Heard the Ld. counsel for the Applicant Bank and perused the material placed on record. Vnun - .l-g"5!)

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oa.No.798/2022

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5, 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 assets?

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6, As stated supra, the Defendants remained ex-parte. The Evidence Affidavit coupled with the recitals in the documents viz., Exs. A.1 to A.14 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 wlth future interest and costs.

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In the result, the^present Original Application No.798/2022 is allowed as under: -

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i) The Defendants are^jointly and severally liable to^pay to the Applicant Bank a total sum of Rs.27,10,661/- i.e. (Rs.25,87,595/and Rs.1,23,066/-) with future interest @ 10.600/o p.a. simple from the date of application till the date of realization;

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ii) the OA claim ls secured by way of hypothecation of assets described in the schedule annexed to the OA and the applicant bank ls entitled to^proceed aqainst the same to realise it. d"bt,

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, 7ff^_,'-,

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oA.NO.798/2022

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iii) the applicant^{bank is alsoentitledto proceed} against the^{person and propertiesof}

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defendants for reallzation^{of its dues; and}

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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 Memowithin2 weeks} from the date^{of receiptof this Order'}

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Issue Recovery^{Certificate accordingly'}

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Communicate^{a copy of this order to the parties concerned'} (oiaaiea to tne steno, signid^{and pronouncedbyme in theopencourtonthisthe} 21'Day of March,2024).

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Ow* (RAMESHWAR KOTHE) PRESIDING OFFICER

Punjab National Bank v. M/S Sony Digi Press

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. M/S Sony Digi Press

Case brief

What is this about?

What did the court decide?

What the court decided

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