Allowed

Punjab National Bank v. M/S Preet Work Constructions

DRT27 Mar 2025OA/290/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an original application by Punjab National Bank for recovery of a sum of Rs.40,39,937.01 along with interest and costs against multiple defendants, including legal heirs, and directed the issuance of a Recovery Certificate.

What did the court decide?

Liability of defendants declared; recovery of principal, interest, and costs directed; Recovery Certificate issued; keep to file cost memo.

Punjab National Bank versus M/S Preet Work Constructions — Banking and Recovery | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDEMBAD

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DATED THIS FHE 27IN DAY OF MARCH, 2025

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PRESENT: SH. RAN4ESHWAR KoTHE, B.com., L.LB. (Hons.), M.A, PRESIDING OFFICER

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ORIGINAL APPLICATION No : 290 0F 2022

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Punjab National Bank., SASTRA Vertical, Circle Office Secunderabad.

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Rep. by its Chief Manager.

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.... .Applicant.

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Versus

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N4/s.Preet Work Constructions, Prop-Manjeet Singh, Off. Address - Rayana Residency, Triumulgherry, Secunderabad.

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lvlanjeet Singh, S/o.Late Capt. D.Singh, R/o.304, lYa nus Anjali Apartments, Kapra, Sa in ikpu ri, Secundera bad.

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l4/s.Eagle Block Printing Tailoring & Designers., Prop- [4s.Shobitha, Off. Address - Unit Aminity Complex, Unit Canteen(Army), HQ 1 EME Centre, Secunderabad.

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Ms.Shobitha, R/o.304, Manus Anjati Apartments, Kapra, Sain ikpu ri, Secunderabad.

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Amended as orders in MA.No.21l2O23 Dated 2O.LO,2O23

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Smt. Manjeet Singh Kaur, W/o.Late Majeet Singh Sa hota, Flat No.101, Raya na Apartments, Tirumalghery, Secunderabad-5000 15.

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Sri.Sampreet Singh, S/o.Late Majeet Singh Sahota, FIat No.101, Rayana Apartments, Tirumalghery, Secunderabad-500015. --,,,

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//lY'tnx"oerendants (-,' P'-

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oA.NO.290/2022

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counsel for the Applicant

:Mr.D.Pavan Kumar

Defendants

: Ex-parte

:: qLLq& ::

The Applicant Bank filed the^{present OA for the recovery a total} sum of Rs,40,39,937.01ps as on 31.03.2022^{i.e., a sum of} Rs.17,88,853.01ps and a sum of Rs.22,51,084/-^fromthe defendants^jointly and severally with future^interest @11.350/0 p.a. with penal interest @20lo at monthly rests from the date of application till the date of realizatlon along with^{costs and in} default for sale of OA schedule^properties.

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Summons served on D5 through^{paperpublication,whereas} summons served on D4 and 6. They were set,ex-parte on 75.04.2024 as called absent and no representation. Summons served on D3 and was set ex-parte on 09.07,2024 as^called absent and no representation. Defendants 5 and 6 are legal heirs of deceased D2 proprietor of D1.

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The Applicant Bank examined M.M.Chisty, Manager, as AW-1 and marked 19 documents through him as Ex. A.1 to Ex. A.19.

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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 entitled for the claim made in the OA against the Defendants and OA schedule propefties? ?ry**

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oa.No.z9olzo2z

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As stated supra, the Defendants 3 to 6 remained ex-parte. The Evidence Affidavit coupled with the recitals in the documents viz., Exs.A.1 to A.19 marked on behalf of the Applicant Bank clinches.the claim of the Applicant Bank against the Defendants 3 to 6. Hence, I hold that the Defendants 3 to 6 jointly and severally and the defendants 5 & 6 to the extent of estate of deceased 2nd defendant who was proprietor of 1't defendant, now lying in their hands; are 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 Application No.290/2022 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.40,39,937.01ps i.e., the defendants 5 & 6 to the extent of estate of deceased 2nd defendant who was proprietor of 1tt defendant now lying in their hands; are liable to pay a sum of Rs.17,88,853.01ps and the defendants 3 & 4^jointly and severally and defendants 5 & 6 to the extent of estate of deceased 2nd defendant who was proprietor of 1st defendant now lying in their hands; are liable to pay a sum of Rs.22,51,084/-; with future interest @11.350/o 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/mortgage of properties described in the schedule annexed to the OA frY*o t-t/

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oA.NO.290/2022

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and the applicant bank is entitled to^proceed against the same to realise lts debt;

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iii) the applicant bank is also entitled to^proceed against the person and^{properties of} defendants 3 & 4 for realization of^its dues;

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iv) the applicant bank is entitled for the costs.

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The Applicant Bank is dlrected to file Cost Memo^{withln2 weeks} from the date of receipt of this Order.

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Issue Recovery Certiflcate accordingly.

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Communicate a copy of this order to the^{partles concerned.} (Dictated to the steno, corrected, si8ned and pronounced by me in the open court on this the 27rh Day of March,2O25).

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Hf*s ESHWAR KOTHE) PRESIDING OFFICER

Punjab National Bank v. M/S Preet Work Constructions

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. M/S Preet Work Constructions

Case brief

What is this about?

What did the court decide?

What the court decided

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