Allowed

Union Bank of India v. Mr. Pulaila Sreekanth

DRT9 Jul 2025OA/127/2025

Case brief

AI extract

What is this about?

The debt recovery tribunal allowed an original application filed by Union Bank of India to recover dues from Mr. Pulaila Sreekanth. The defendant remained absent following service by public notice. The tribunal validated the claim and ordered recovery against hypothecated vehicles and personal properties.

What did the court decide?

Directive to pay Rs.23,30,359.58; direction to proceed against hypothecated vehicles and properties; authorization for recovery certificate.

Union Bank of India versus Mr. Pulaila Sreekanth — Banking and Recovery | DRT (2025)

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IN THE DEBTS^{RECOVERY TRIBUNAL-II AT HYDERABAD} DATED THIS^{THE Ogth DAY OF ]ULY, 2025}

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

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ORIGINAL^{APPLICATION No: 127 OF 2025}

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Union Bank^{of India.,} Madhura^NagarBranch 8-3-224121101,^{G1, G2, G3} MR ResidencY,^{YousufgudaMainRoad} uuinrru^{Nagar, Hyderabad-500045'TS'} Rep. by its^{Branch Manager'}

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.....Applicant'

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Versus

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Mr. Pulaila^{Sreekanth, S/o'Laxman} Aoed 47 Years,^{Plot No'50} nftn fnctaue,^{Indra Prastha ColonY} iiirit"irrr",^{North, KV Ranga Reddy} Telangana^{State - 500079'}

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Also at:^-

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Mr. Pulaila^{Sreekanth, S/o'Laxman} noed^{q7 Years,DY GeneralManager} iilo uo.^{90112785, DePt Human} *#;;.";^{kivs rtospitals' Minister Rold-^} ;il;;;;;;d,^{relansanastate - soooo3'}

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. " Defendant

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Counsel^{for the APP|icant}

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Defendant

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M/s.Srinivasa^{Rao Chakrala}

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Ex-parte

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:: ORDER^::

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The^{ApplicantBank filed the present OA for the recoverya total} sum of^{Rs.23,30,359'58psas on 2l'12'2024l'e'' a sum of} Rs.10,16,6e6.58ps^{towards r*^}

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b1$S^16s3000000s

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oA.NO.L27 /2025

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and a sum of Rs.13,13,663/_ towards Loan A/c. No. 17L2L6S2OOO001B from the defendant with future interest @7.3o/o &^g.2o/o p.a. from the date of application till the date of realization along with costs and in default for sale of hypothecated vehicles.

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Summon served on sole defendant through paper publication and was set ex_parte on L2.06.2025 as called absent and no representation,

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The Applicant Bank exa AW-1 and marked ,u^{''nuo R'RamaKrishna'sr' Manager,as} documents through him as Ex.A.1 to Ex.A.3g.

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Ld. Counsel for the Applicant Bank stat on merts. perused the mareriar o,u.uo,ll::::::r., be passed

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5, The point that arises for consideration is:_

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yJ"r!",^{the Applicant} Bank is entitted ,ou'11.'^':'?^{made in the oA asainst} ,"0,:;::'ount^{and oA hllothecatud}

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As stated supra, the Defendant re Evidence Affidavir .^,,^,^,.,*1..1-,^"11't mained ex-parte. The .:,,::,:::,a s n,nu 0..,,"n,, ;:::,:::[i;:j1T,.11": of the Appricant Bank of the Applicunt eur; against the Defendant' Hence, I hold tha tnu Defendant the Appricant uun' ''^;;;" oA craim to k with Furure interest

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""at".;;,:.tn"

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In the result, the ""at".;;,:.tn" altowed as under: _presenr originat Appli.all:: No.127/2025 is

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oA.NO.L27l2O25

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i) The Defendant is liable to pay to the Applicant Bank a total sum of Rs.23,30,359.58ps as on 2L.t2.2O24 i.e., a sum of Rs.10,16,696.58ps towards Loan A/c.No.171216530000009 and a sum of Rs.13,13,663/- towards Loan A/c. No, 171216520000018 with future interest @8.2olo p.a. 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 vehicles 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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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 according ly.

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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 09th Day ofJuly, 2025).

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,"ttt

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...,,

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(RAMESHWAR KOTHE) PRESIDING OFFICER

Union Bank of India v. Mr. Pulaila Sreekanth

Case brief

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Union Bank of India v. Mr. Pulaila Sreekanth

Case brief

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