Allowed

Punjab National Bank v. G.Janani

DRT22 Apr 2024OA/839/2023

Case brief

AI extract

What is this about?

The tribunal allowed an application filed by Punjab National Bank under Section 19 of the RDBA for recovery of Rs 24,57,157 along with interest and costs against two defendants who remained ex-parte. The bank was directed to file a cost memo and issue a recovery certificate.

What did the court decide?

Directing payment of Rs 24,57,157 with future interest, proceeding against mortgaged property, and issuing a recovery certificate.

Punjab National Bank versus G.Janani — Money Laundering | DRT (2024)

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IN THE DEBTS RECOVERY TRIBUNAL.II AT HYDERABAD DATED THIS THE 22'1d DAY OF APRIL, 2024

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PRESENT: SH. RAMESHWAR KOTHE, B.COM, L.L.B. (HONS.), M.A.

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PRESIDING OFFICER

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ORIGINAL APPLICATION No. 839 OF 2023

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Pu nja b National Bank Kuppam Branch, presently Parked at Circle SASTRA Centre 27-33-40, 1st floor, Gudava lli Vari Street, Vija ya wad a - 5 2 0 00 2 Rep by its Chief Manager Applica nt.

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Versus

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G. Janani Wo. G.V. Ramesh Door No:1-48, Urlaobana palli village, Vendugampalli Post, Kuppam Mandal, Chittoor Dist. A.P.-5L7425. 2. G.V. Ramesh s/o. Venugopal Door No:1-48, Urlaobana palli village, Vendugampalli Post, Kuppam Mandal, Chittoor Dist. A.P.-577425 Defenda nts.

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Counsel for the Applicant : Mr. Yateendra Raju Defendants : Ex-parte.

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ORDER

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The Applicant Bank filed the present OA u/s.19 of the Recovery of Debts and Bankruptcy Act, 1993 for the recovery of a total sum of Rs.24,57,757/-^jointly and severally from the defendants with interest @9.85% p.a. monthly N**rests together

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oA.NO.839/2023

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with^penal interest @2olo^{p.a. in respect of CashCredit facility} A/c No.7533O0APOOOOOO^{10 from the date of this application till} the date of realisation^{along with costsand sale of OA schedule} property.

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Summons served on^{D1 and 2 Theywere set ex-parteon} 27.17.2023, as called absent^{and no representation.}

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The Applicant Bank examined^{Shiva Komara, Manager Law as} AW-1 and marked 13 documents^{throughhim as Ex. A.1 to} Ex.A.13.

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Learned Counsel for the applicant^{bank reported orders may be} passed on merits. Perused the material^{placed on record.}

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The polnt 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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6, As stated supra, defendants^{remained ex-parte. The Evidence} Affidavit coupled with the^{recitals in the documents viz., Exs. A1} to A.13 marked on behalf of the^{Applicant Bank clinchesthe} claim of the Appticant Bank against^{the Defendants. Hence, I} hold that the Defendants are^{jointly and severally liable to pay} the OA claim to the Applicant^{Bankwith future interestand} costs.

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In the result, the^present Origlnal^{Application No.839/2023is} allowed as under:^-

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i) the defendants are^jointly and^{severallyliable} to pay to the Applicant Bank a^{sum of} ,4ry'*"

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oA.NO.839/2023

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Rs.24,57,157l- with future interest @12.10% p.a. simple from the date of application i.e.,21.09.2023 till the date of realization; 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 for recovery of its dues;

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

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B. 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. (Dictated to the steno, signed and pronounced by me in the open court on this the 22"d day of April, 2024). (RAMESHWAR KOTHE)fi{*'*t PRESIDING OFFICER

Punjab National Bank v. G.Janani

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. G.Janani

Case brief

What is this about?

What did the court decide?

What the court decided

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