Allowed

Punjab National Bank v. Mr Suresh Narasimhulu Palakurki

DRT28 Apr 2026OA/198/2026

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed an original application filed by Punjab National Bank for recovery of dues from a defendant including principal amounts and future interest. The claim was secured by mortgage of the property in the OA schedule.

What did the court decide?

Defendant to pay total sum with future interest; OA claim secured by mortgage; recovery certificate issued.

Punjab National Bank versus Mr Suresh Narasimhulu Palakurki — Banking and Recovery | DRT (2026)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD DATED THIS THE 28TH DAY OF APRIL, 2026

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

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ORIGINAL APPLICATION No: 198 OF 2026

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Punjab National Bank., Asset Recovery Management Branch Hyderabad, 6-3-865, My Home Jupally 1st Floor, Green la nd's, Ameerpet Hyderabad - 500016. Rep. by its Chief Manager.

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.....Applicant.

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Versus

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Mr. Suresh Narasimhulu Pala kurki S/o. Mr. P. Narasimhulu, Occ: Business H.No.14-5-3711, Sy.No. 153/A, Road No.17a Christia npally, Mah bu bnaga r Town Ward No.14, Telanqana - 509001.

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Also at:-

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H. No.F-3, Near Electricity Dept., Haveli, Curti, Goa, Dist: Goa City: Ponda, Goa UT, State: Goa-403401.

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...Defendant

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Counsel for the Applicant : Mr. V. Raghu Defendant : Ex-pa rte

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:: ORDER ::

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The Applicant Bank filed the present OA for the recovery a total sum of Rs.28,30,365/- i.e., a sum of Rs.2,73,842.76ps towards Cash Credit A/c. No.4211320NC00000022, a sum of Rs.5,11,801/- towards Term Loan A/c.No.211320NC00000031 and a sum of Rs.2O,44,72O.77ps towards Term Loan A/c. No.485500NC000000805 from the defendant with future lr,,^. - .,

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oA.NO.198/2025

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interest @8.65olo p.a. with monthly rests from 01.02.2026 till the date of rea lization along with costs and in default for sale of OA schedule^property.

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Summon served on sole defendant and was set ex-parte on 27.04.2026 as called absent and no representation.

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The Applicant Bank examined P S Sivadasan, Chief Manager, AS AW-1 and marked 27 documents through him as Ex.A.1 to Ex.A.27.

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Heard the Ld. Counsel for the Applicant Bank. Perused the materia I^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 Defendant and oA schedule property?

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As stated supra, the Defendant remained ex-parte. The Evidence Affidavit coupled with the recitals in the documents viz., Exs.A.1 to A.27 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendant. Hence, I hold that the Defendant is 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.198/2026 is allowed as under: -

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i) The Defendant is liable to pay to the Applicant Bank a total sum

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oA.NO.198/2026

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i.e., a sum of Rs,2,73,842,76ps^towardsCash Credit A/c.No.4211320NC00000022, a^sum of Rs.5,11,80U- towards Term^Loan A/c.No.211320NC00000031 and a^{sum of} Rs.20,44,720.77ps towards Term^Loan A/c.No.485500NC000000805; with^future interest @7.40o/o^p.a. simple^{from the date of} application till the date^{of realizationi}

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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 bankis} 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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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 28th Day of^APRIL,2026).

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k."-t

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(RAMESHWAR KOTHE) PRESIDING OFFICER

Punjab National Bank v. Mr Suresh Narasimhulu Palakurki

Case brief

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Punjab National Bank v. Mr Suresh Narasimhulu Palakurki

Case brief

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