Allowed

Punjab National Bank v. Marvel Enterprises

DRT29 May 2025OA/550/2024

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed an Original Application filed by Punjab National Bank against three respondents for recovery of a principal sum of Rs. 35,38,741.62 plus future interest and costs, holding the defendants jointly and severally liable based on ex-parte evidence.

What did the court decide?

The defendants are directed to pay Rs. 35,38,741.62 plus future interest at 9.35% p.a. simple and costs; a Recovery Certificate was issued.

Punjab National Bank versus Marvel Enterprises — Banking and Recovery | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD

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DATED THIS THE 29TH DAY OF MAY, 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: 550 OF 2024

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Punjab National Bank., Asset Recovery Management Branches At Circle Sastra, Ameerpet, Hyderabad. Rep. by its Authorized Signatory.

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...Applicant

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Versus

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M/s. Marvel Enterprises.,

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Registered Office at Flat No.107, My Home Laxmi Nivas Apartments, Opp Gree^park Hotel, Begumpet, Hyderabad - 500016.

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Rep by its Managing partner Amir Sohail, S/o. Mohd Abdul Khayum.

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Also at: -

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M/s. Marvel Enterprises., At L3-_6-446/A/3, Besides VM Gardens, Near Green House Function Hall, Gudimalkapur, Hyderabad - 50002g.

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Yt. Amir Sohait, S/o. Mohd Abdut Khyum, Age 36 Years, R/o. t2-2-gOO/272, Dilshad Nagar, Mehidipatnam, Hyderabad - 500028.

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Mrs. Sumayya Mobeen, S/o. Sri.S.K.Kahaja Makhdum pasha, t2-2-7go/ t29, 2nd Floor, Ayodhya Nagar, Mehidipatnam, Hyderabad - 500028.

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......Defendants

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Counsel for the Applicant

: Ms. K.Srilatha

Defendants

: Ex-oarte

fiwtaf

oA.No.550/2024

:: ORDER^::

The Applicant^{Bank filed the presentOA for the recovery of a sum of} Rs.35,38,741.62ps^{from the defendantsjointly and severally with} future interest^{@9'35%p afrom02'02'2023 till the date of} realisation^{alongwith costs}

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Summons^{served on D1 to 3They were set ex-parte on} 03.04.2025^{as called absent and no representation'}

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The Applicant^{Bank examinedTawkeer Hasan' Law Manager as A!v-} 1 and^{marked21 documentsthrough himas Ex' A'1 to Ex A'21'}

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Ld. Counsel^{for the Applicant Bank stated orders may be passed on} merits^{and perused the materialplacedon record'}

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The^{point that arises for considerationis:-}

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whether^{the Appticant Bank is entitled for} the claim^{made in the OA against the} Defendants?

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As stated^{supra, the Defendants remainedex-parte' The Evidence} Affidavit coupled^{wlththe recitals in the documents viz} '^{Exs'A 1to} A.21 marked^{on behalfof the Applicant Bank clinches the claim of} the Applicant^{Bank agalnstthe Defendants'Hence' I holdthat the} Defendants^{are jointlyand severallyliable to pay the OA claim t0} the Applicant^{Bank with future interestand costs'}

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In the result,^{the present Original ApplicationNo 550/2024is} allowed as^{under: -}

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i) The Defendants are^{jointly and severallyliableto pay to} the Applicant^{Bank a sum of Rs.35,38,741'62ps with} ffii"*

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OA.No.550/2024

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future interest @9.35olo p.a. simple, from the date of application till the date of realization;

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ii) the applicant bank is also entitled to proceed against the person and properties of the defendant for realization of its dues;

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iii) 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,, transcribed by him, corrected, signed and pronounced by me in the open court on this the 29th day of May,2025).

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'.,\tt,r1 '
',-'

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'A'

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(RAMESHWAR KOTHE) PRESIDING OFFICER

Punjab National Bank v. Marvel Enterprises

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. Marvel Enterprises

Case brief

What is this about?

What did the court decide?

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