Allowed

Punjab National Bank v. M/S. Sri Venkata Sai Traders

DRT7 Aug 2025OA/198/2025

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the bank OA of 198/2025. In the absence of the defendants, the court held them jointly and severally liable to pay the loan amount of Rs. 41,52,443/- with future interest and costs, and directed the issuance of a Recovery Certificate.

What did the court decide?

Defendants ordered to pay Rs. 41,52,443/- with future interest; Recovery Certificate issued.

Punjab National Bank versus M/S. Sri Venkata Sai Traders — Banking and Recovery | DRT (2025)

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IN THE DEBTS RECOVERY TR]BUNAL.II AT HYDEMBAD DATED THIS THE O71H DAY OF AUGUST, 2025 PRESENT: SH. RAMESHWAR KOTHE, B.COM., L.LB. (HONS.). M.A. PRESIDING OFFICER

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ORIGINAL APPLICATIoN No: 198 oF 2025

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Punjab National Bank., Sastrc Circle Office, Secunderabad 2" oor, Maharishi House Road No.3 EanJara Hilts, Hyderabad _ 5OOO34. Rep. by its Chief Manager.

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.....Applicant.

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Versus

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M/s..Sri Venkata Sai Traders.,
Rep its proprietor Mr.Kethinena Venu
3-3-146, candhi Nagar, Khammam
telangana - 507003.

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Mr. Kethineni Venu, S,/o. K.Chala maiah
Aged Major, Occ: Business
3-3- 146, Gandhi Nagar, Khammam
I etangana _ 507003_

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Ms. Ketheneni Kalyani, W/o.Ketheneni
Venu, Aged Major, Occ: Business
3-3- 146, candhi Nagar, Khammam
Tetangana _ 507003.

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.. . Defendants

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Counsel for the Applicant

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Defendants

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M/s. V.Raghu Ex-pa rte

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:: ORDER ::

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The Applicant Bank filed the present OA for the recovery a total sum of Rs.41,52,443/- i.e., a sum of Rs.37,07,430/- towards Cash Credit A/c.No.13594011000264 and a sum of Rs.4,45,013/- towards Term Loan A/c.No.13597121000056 :los' t "

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oA.NO.198/2025

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from^{the defendantsjointry and severaily with future interest} @14olo^{p'a. with monthlyrests from the date of applicationtill} the date^{of realizationalong with costs and in defaultfor sale of} OA schedule^ProPerties'

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Summons were^{set served ex-parte on on D1 13'06'2025 to 3 through as paper publication' called absentand Theyno} representation '

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The Applicant^{Bankexamined SK'Tawkeer Hasan' Legal} Manager,^{as AW-1 and marked 25 documentsthrough himas} Ex. A'1^{to Ex' A'25'}

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Heard^{the Ld' Counselfor the Applicant Bank'Perusedthe} material Placed^{on record'}

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The^{point that arises for consideration is:-}

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Whether^{the ApplicantBank is entitled} for the^{claim madein the OA against} the^{Defendantsand OA schedule} ProPerties?

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6.^{As stated supra, the Defendants remained ex-parte'The} Evidence^{Affidavitcoupledwith the recitals in the documents} viz., Exs.^{A.1 to A'25 marked on behalf of the Applicant Bank} clinches^{the claim of the Applicant Bank against the Defendants'} Hence, I^{hold that the Defendants are jointlyand severallyliable} to^pay the^{OA claim to the Applicant Bank with futureinterest} and costs.

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In the^{result, the present Original Application No'198/2025is} altowed^as under: ffisXrq

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oA.NO.198/202s

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i) The Defendants are jointly and severally liable to pay to the Applicant Bank a total sum of Rs.41,52,443/- i.e., a sum of Rs,37,07,430/- towards Cash Credit A/c. No. 13594011000264 and a sum of Rs.4,45,0L3/- towards Term Loan A/c. No. 13597121000056; with future interest @8olo 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 mortgage of properties 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 a cco rd in^g 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 thisthe 07th Day orAugust,2025).

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/flW** /^(t (CfiqESHWAR KOTHE) PRESIDING OFFICER

Punjab National Bank v. M/S. Sri Venkata Sai Traders

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. M/S. Sri Venkata Sai Traders

Case brief

What is this about?

What did the court decide?

What the court decided

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Issues for consideration

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