Allowed

Punjab National Bank v. Mr. Vemuri Ravi Kiran

DRT25 Apr 2025OA/190/2024

Case brief

AI extract

What is this about?

In an ex-parte execution petition, the Tribunal directed respondents to pay the applicant bank a principal sum with future interest and costs, allowing relief via sale of mortgaged properties or attachment of person and properties, and issued a recovery certificate.

What did the court decide?

Defendants to pay Rs. 10,86,75,142.75 with future interest @10.50 p.a. simple; sale of mortgage properties allowed; entitlement to proceed against persons and properties of defendants; costs awarded.

Punjab National Bank versus Mr. Vemuri Ravi Kiran — Specific Performance | DRT (2025)

¶1

IN THE DEBTS RECOVERY TR]BUNAL-II AT HYDEMBAD DATED THIS THE 25TH DAY OF APRIL, 2025

¶2

PRESENT: SH. MMESHWAR KOTHE, B.Co,l pnesloirtrc' o-iiIc'#''^{L'LB (Hons')'} M A'

¶3

ORIGINAL APPLICATION No: 190 AF 2024

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Punjab National Bank.. Inter alia a Zonal SASiRA. Hyderabad, At 6-3-865. My Home Jupally, Ameerpet, breen Lands, Hyderabad _ 500016. Kep. Dy its Authorized Signatory.

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.... .Applicant.

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Versus

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lvlr.Vem uri Ravi Kiran,

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S/o. Late V.prabhakara Rao. Aged about 51 years, Occ: Managing Director, M/s. Mark Infrastructure pv-t. Ltd., R/o. H.No.S-25, Srila park pride, Near Chaitanya Boys Residential College, Hydernagar, Hyderabad - 500049.

¶9

Iqr.A.V.A. L. N. tv'turthy, S/o. Not Known, Aged t4ajor, Occ: Director M/s.Mark Infrastructure pvt. Ltd.,

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Plot No.203, Sterting Court - 1, Sarojini Naid u Nagar, Madhapur, Hyderabad - 500081.

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Mrs.Vemuri Sireesha, Wo.Sri Vemuri Ravi Kira n, Aged about 42Years, Occ: Director M/s. Mark Infrastructure pvt. Ltd., R/o.H.No.S-25, Srila Park pride, Near Chaitanya Boys Residential College, Hydernagar, Hyderabad - 500049.

¶12

I\4rs.Vemu ri Prameela Rani, Wo.Late V. Prabhakar Rao,

44"*

oA.NO.19o/2024

Aoe 73^{Years, Occ:Business'} ill H :;13 t?^{;)'i' 1R;'" n'"";. n} ",., i[ivi*"au^{- s2ooo2'}

¶17

q Mr.Vemuri Raja Sekhar' " 1r., t "t" V'Prabhakar Rao' it"Jiz^{Y"ur.t, occ: Not Known'} ?:;;, M"il^{water worksRoad'} srila Park^{Pride, Hydernagar'} Hyderabad -^{500049 '}

¶18

Mr.Surapaneni^{PurnaChandraRao'} S/o. Mr.^{S.NageswaraRao'} io"a sf veais,^{Occ: Pvt' EmPIoYee'} nTo.ftat t'lo.c-2,^{Kosaraju's Sri Rama} t',tohan Residency,^{Guttalabegumpet'} Hyderabad -^500081'

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...Defendants

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Counsel^{for the Applicant} : Mrs Kalpana^Ekbote

Defendants

: Ex-Parte

:: oL[f$-^::

The Appticant^{Bank filed the present OA for the recovery a total} sum of Rs.10,86,75,142.75ps^{fromthe defendantsjointly and} severally^{with future interest along with2yo penal interest from} the date of^{application till the date of reatization alongwith} costs and in^{default for sale of OA scheduleproperties'}

¶25

Summons served^{on Dl, 3 to} 6 through PaPer Publlcation, whereas summon^{sent to D2} returned with^endorsement unclaimed^{hence, deemedto be} served. They^{were set ex-Parte} on 15.10.2024^{as called absentand no representation,}

¶26

The Applicant^{Bank examined Lav Kumar, Asst Manager,as} AW-1 and marked^{36 documentsthrough him as Ex A l to Ex'}

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(/s"e

¶28

oa.No,190/2024

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4.36 and examined Aerra Ramesh Babu, Chief Ma nager( Law), as AW-2 and marked 20 documents through him as Ex.A.37 to Ex. A.56.

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Ld. Counsel for the Applicant Bank reported orders may be passed through merits. perused the material placed on record.

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The point that arises for consideration is:-

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Whether the Applicant Bank is enti ed For the claim made in the OA against the Defendants and OA schedule properties?

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As stated supra/ the Defendants remained ex-parte. The Evidence Affidavit coupled with the recitals in the documents viz.. Exs. A.1 to A.56 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 and costs.

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In the result, the present Original Apptication No.19O/2024 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.10,8 6,75,142.75ps with future interest @10.55o/o p.a. simple from the date of application till the date of realization;

¶36

ii) the OA claim is secured by way of mortgage of properties described t>*r.yor. Utfn"

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oa.No.19o/2024

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¶39

annexed to^{the OA and the applicant bankis} entltled to^{proceedagainstthe 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 realizationof its dues;}

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iv) the applicant^{bankis entitled for the costs'}

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The Applicant^{Bankis directed to file Cost Memo within2 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'} loictated^{to the steno, corrected,siSnedand pronounced by me in the open courton} this the 2srh^DBy of^April,2025).

¶45

fiffu"'fi

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lfrnilesnwnn^xorney PRESIDING OFFICER

Punjab National Bank v. Mr. Vemuri Ravi Kiran

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. Mr. Vemuri Ravi Kiran

Case brief

What is this about?

What did the court decide?

What the court decided

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