Allowed

Punjab National Bank v. Mr. Pingili Prathik Reddy

DRT17 Dec 2025OA/393/2025

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an application by a bank for recovery of Rs. 32.97 lakhs with interest. Finding that the bank established its claim via documentary evidence, the court held the defendants jointly and severally liable.

What did the court decide?

Defendants ordered to pay Rs.32,97,094.32 with interest. Proceedings directed against hypothecated movables, persons, and properties of defendants. Recovery certificate issued.

Punjab National Bank versus Mr. Pingili Prathik… — Contract and Commercial Disputes | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL - I AT HYDERABAD DATED THIS THE 17th DAY OF DECEMBER, 2025 PRESENT: SRt cUMMAD| cOptCHAND, PREStD|NG OFFTCER

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OA. No. 393 OF 2025

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Between :

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Punjab /national Bank, e-Oriental Bank of Commerce, Circle Office, 103,#8-2-248tA, Maharishi House, Banjara Hills, Hyderabad - 500 034 Represented by its Chief Manager Applicant VERSUS 1. Mr. Pingitiprathik Reddy, S/o Pingili Suresh Reddy, Aged 33 years, Male. #354-446, Ground Floor, Gopalpur Bank Colony, Near Gopalpur Gram panchayat, Warangal - 506 OO1, T.S 2. Mrs. Pingili Suguna Wo. Pingiti Suresh Reddy, # 35-4-446, Ground Floor, Gopalpur Bank Colony, Near Gopalpur Gram Warangal - 506 OO1, T.S Defendants

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(oA. No. 393/202s)

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Counsel for the parties :

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For The Applicant Srinivasa Rao Chakrala For the Defendants Exparte Reserved on 16.12.2025 Pronounced on 17.12.2025 Upload in website on 17.12.2025

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ORDER

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The Applicant Bank filed the present oA against Defendants for recovery of a total sum of Rs.32,97,094.32 ps. (Rupees Thirty Two Lakhs Ninety Seven Thousand Ninety Four and Paise Thirty Two Only) with future interest @ 1l.Og%p.a with monthly rests along with penal interest @2% p.a from 01.01.2025 ti' the date of rearization and in defaurt for sare of Mortgaged Property as mentioned in the Schedule to OA.

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As per the averments in the application, the Applicant Bank states that Defendants No. availed Loan Facility of Rs.4g,50,0001 repayable in 46 equated monthly installments of Rs.2,41,915/_ and executed documents in favor of the Applicant Bank. The defendants hypothecated vehicle morefully mentioned in Schedule to OA and executed necessary documents in favor of the Appticantilank, Ifuyaiting the toan facitity , the defendants ,'.Y^4-^- // -'n:.\L-, L. ^I: -.^l.'', a faited t{,**(ii ilrHn-Nr"nction, hence rhe appticant bank H i,^{1t atc zw ,:i} @

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(OA. No. 393/202s)

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classified the account as NpA on 2g.09.2022 and issued Legal notice dated 07.07.2025 to the defendants. lnspite of several requests and demands, the defendants did not clear the outstanding. Hence this OA.

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Defendants called absent and set exparte on 25.11.2025.

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sri. M'M chisty, Manager of the Appricant Bank examined himserf as AW.1 and exhibited relevant documents, which are marked as Ex.A.1 to A.15.

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Heard the Ld. Counsel for the Applicant Bank.

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o. The point that arise for consideration is whether the Applicant bank is entifled for the claim made in the OA against the Defendants as prayed for?

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Defendants called absent and set exparte. To substantiate the case of the Applicant Bank, AW.1, official of the Applicant Bank

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was examined and he exhibited relevant documents as Ex.A.1 to A.15. ln view of the above, I hold that the Applicant Bank has established their claim made in the OA against the Defendants and hence icant Bank is entifled to recover the claim interest and costs.

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(oA. No. 393/202s)

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ln the result, the present OA is allowed with costs, as under:

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The Defendants No. 1 and 2 are joinfly and severally liable to pay to the Applicant Bank a total sum of of Rs.32,97,094.32 ps. (Rupees Thirty Two Lakhs Ninety Seven Thousand Ninety Four and paise Thifi Two Only) with future interest @ 10'08%o p'a with monthry rests from 01.07.2025 til the date of realization.

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The Applicant Bank is entifled to proceed against the Hypothecated Movables mentioned in the Schedule of property to the OA towards realization of the debt due.

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The Applicant Bank is also entifled to proceed against the person and properties of defendants No. 1 and 2 towards rearization of the debt due.

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That Applicant Bank is entifled to the costs of the OA

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The Applicant shall file a cost memo within two weeks from the date of receipt of order.

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lssue Recovery Certificate accordingly.

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communicate a copy of the order to the parties concerned.

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(Dictated to the p.A., transcribed b v I o ner' corrected' sisned and pronounced bv me in the open @urt on -$-'u,.elq;li,iil;';td'

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Punjab National Bank v. Mr. Pingili Prathik Reddy

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. Mr. Pingili Prathik Reddy

Case brief

What is this about?

What did the court decide?

What the court decided

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