Allowed

Punjab National Bank v. M s Sathamma Earth Works

DRT10 Jun 2025OA/219/2025

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an Original Application filed by Punjab National Bank for recovery of a debt of Rs. 27,17,823 with interest and costs from three respondents, who appeared ex-parte. The property mortgaged is secured against the claim.

What did the court decide?

Respondents directed to pay Rs.27,17,823 with 12.15% p.a. interest; mortgage property and personal properties liable for dues; Recovery Certificate issued.

Punjab National Bank versus M s Sathamma Earth Works — Banking and Recovery | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD DATED THIS THE loth DAY OF ]UNE, 2025

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PRESENT: SH. RAMESHWAR KOTHE, B.Com., L.LB. (Hons.), M.A. PRESIDING OFFICER

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ORIGINAL APPLICATION No: 219 OF 2025

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Punjab National Bank., Having One of its Asset Recovery Management Branches at Circle Sastra, Secunderabad, Maharshi House, Road No.3, Banjara Hills. Hyderabad. Rep" by its Authorized Signatory.

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.....Applicant.

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Versus

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M/s. Sathamma Earth Works., Office at 2-9-924, NGO's Colony, Waddepally, Hanumakonda, Warangal Urban, Warangal - 506370, Telangana. Rep by its Proprietrix, Smt. Emmadi Sathyamma.

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Smt.Emmadi Sathyamma, W/o.Emmadi Uppalaiah, Proprietrix of M/s.Sattamma Earth Works, Office at 2-9-924, NGO's Colony, Waddepally, Hanumakonda, lVarangal Urban, Warangal - 506370, Telangana.

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Smt.Gabeeta Rajeshwari, W/o.G.Babu, R/o.3-BB, SC Colony, Mylaram Village, Rayaparthy Mandal, Warangal Rural, Warangal - 506314.

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...Defendants : Ms. K.Srilatha Counsel for the Applicant Defendants : Ex-oarteffisv*

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oA.NO.219/202s

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:: ORDER ::

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The Applicant Bank filed the^present OA^for the^{recovery a total} sum of Rs.27,t7,823/- from the defendants^{jointly and} severally with future interest @12.15olo^{p.a. from} till^{the date of} realization along with costs and in default for sale of^OA schedule^property.

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Summons sent to D1 and 2^returned with^{endorsementrefused} hence, deemed to be served, whereas Summons^{served on D3.} They were set ex-parte on 01.05.2025 as^{called absentand no} representation.

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The Applicant Bank examined M.M.Chishty,^{Legal Manager, as} AW-1 and marked 13 documents through him as Ex,^A. 1to^Ex. A.13.

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Heard the Ld. Counsel for the Applicant Bank.^{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 entitled for the claim made in the OA against the Defendants and OA schedule property?

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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,13 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 Apm't Bank with future^interest and costs. z/41isb.>

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oA.NO.219/2025

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In the result, the present Original Application No.21912025 is allowed as under: -

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i) The Defendants are jointly and severally liable to^pay to the Applicant Bank a sum of Rs.27,17,823/- with future interest @ 1 2. 1 5olo 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 property 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 accordingly.

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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 10th Day of June, 2025).

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(RAMESHWAR KOTHE) PRESIDING OFFICER

Punjab National Bank v. M s Sathamma Earth Works

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. M s Sathamma Earth Works

Case brief

What is this about?

What did the court decide?

What the court decided

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