Allowed

Karnataka Bank Limited v. Mr. Ponnambalam Chandra Sheker

DRT23 Sept 2025OA/288/2025

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the bank's original application seeking recovery of Rs.47,45,934.53 plus interest from the defendants. The court held defendants jointly and severally liable based on ex-parte evidence and secured the claim via mortgage. Recovery certificate issued.

What did the court decide?

Defendants jointly and severally liable to pay Rs.47,45,934.53 with future interest; bank entitled to proceed against mortgaged property and defendants' other assets; recovery certificate to be issued

Karnataka Bank Limited versus Mr. Ponnambalam Chandra Sheker — Execution and Attachment | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-Ii AT HYDEMBAD DATED THIS THE 23RO DAY OF SEPTEMBER, 2025 PRESENT: SH, RAMESHWAR KoTHE, B.Com., L.LB. (Hons.), M.A. PRESIDING OFFICER

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ORIGINAL APPLICATIoN No: 288 oF 2025

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Karnataka Bank Ltd., AS Rao Nagar Branch No.7- 7-262/ 3, plot No. 73 Srinivasa Nagar, Main Road AS Rao Nagar, Medchal Malkaiqtri Telangana - 500062. Rep. by its Authorized Signatory.

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. ....Applica nt.

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Versus

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Mr.^ponnambalam Chandra Sheker

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S/o. S.Ponnambalam

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Aged about 57 years, Occ: Business H. No.1-9-8, Bharathi Nagar Cotony Tempte Atwat, Secunderalad _ S0b010.

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Ivlrs. C.S.Vijaya Lakshmi W/o. Mr.ponnambalam Chandra Sheker Aged about 55 years, Occ: House wife H.No.1-9-8, Bharathi Nagar Colony Tempte Atwat, Secunderabad _ 5Ob01O.

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... Defendants

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Counsel for the Applicant

: Smt. R.Aruna

Defenda nts

:Ex-parte

:: oRDER ::

The Applicant Bank filed the present OA for the recovery a total sum of Rs.47,45,934.53ps from the defendants jointly and severally with future interest @15.45olo p.a. from the date of Ov**

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oA.NO.288/2025

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application^{till the date of realization along with costs and in} default^{for sale of oA scheduleproperty'}

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Summons^{served on D1 and 2 Theywere set ex-parteon} 13.06.2025^{as called absentand no representation'}

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The Applicant as AW-1^{and marked Bank examined Ganesh 14 documents through Kumar' him as Ex' A LegalManager'1to} Ex. A.14.

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Heard the^{Ld. Counselfor the ApplicantBank Perused the} material Placed^{on record'}

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The^{point that arises for consideratlonis:-}

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Whether^{the Applicant Bank is entitled} for the^{ctaim made in the OA against} the^{Defendantsand OA schedule} property?

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As stated^{supra, the Defendants remained ex-parte'The} Evidence^{Affidavit coupled with the recitalsln the documents} viz., Exs.A.1^{to A 14 marked on behalf of the ApplicantBank} clinchestheclaimoftheApplicantBankagainsttheDefendants. Hence, I^{hold that the Defendants are jointly and severally liable} to^{pay the OA claim to the Applicant Bank with futureinterest} and^costs.

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in the result,^{the present originalApplicatlon No'288/2025is} allowed^{as under: -}

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i) The Defendants^are iointly^{and severally} liable to^{pay to the Applicant Bank a sum of} knn"

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oA.NO.288/202s

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Rs.47,45,934.53ps with future^interest @9.20olo^{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^{inthe schedule} annexed to the OA^{and the applicantbank 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^propertiesof defendants for^{realization of its dues;}

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iv) the applicant bank^{is entitledfor the costs.}

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B. The Applicant Bank is directed^{to file Cost Memo within2 weeks} from the date of receipt of this^Order.

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o Issue Recovery Certificate^accordingly.

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Communicate a copy^{of this order to the parties concerned'} (Dictated to the steno, corrected,^{signedand pronouncedbyme in the opencourt on} this the ?3'd Day^{of September, 2025).}

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//M"e

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lndt'esxUlieR^KorHE) PRESIDING OFFICER

Karnataka Bank Limited v. Mr. Ponnambalam Chandra Sheker

Case brief

What is this about?

What did the court decide?

Karnataka Bank Limited v. Mr. Ponnambalam Chandra Sheker

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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