Allowed

Punjab National Bank v. Mr Laxminarayana Narasimulu Palakurki

DRT28 Apr 2026OA/199/2026

Case brief

AI extract

What is this about?

The Tribunal allowed the Applicants original application filed by a bank for recovery of dues of Rs.29.48 lakhs with future interest and costs. The Tribunal ex-parte held the respondent liable based on evidence affidavit. The court passed a recovery certificate.

What did the court decide?

Recovery of Rs.29,48,221/- with future interest at 15% p.a., costs, and issue of Recovery Certificate.

Punjab National Bank versus Mr Laxminarayana Narasimulu… — Banking and Recovery | DRT (2026)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDEMBAD 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: 199 OF 2026

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Pu njab National Bank., Asset Recovery Management Branch Hyderabad, 6-3-865, My Home Jupally lst 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. Laxmina raya n Narasimulu Palakurki S/o. Mr. NV Palakurki, Aged about 45 Years, Occ: Business, H.No.14-5-3712 Part of PIot Nos.22lA, 23, 24/8, Survey No. 154/2, Christianpally, Mah bubnaga r Telangana - 509001.

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Also at:-

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C/o. Sadashiv Sukhtanker, H. No.1-4 Raj Niketan Block, A-2, Ponda, Near ID Hospital Pond, North Goa, Goa-403401.

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Also at:5-37l1, Seshadrinagar, Mahbubnagar Near KGN Driving School, Mahbubnagar Tela ngana - 509001.

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...Defendant

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

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:: qLD:L& ::

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The Applicant Bank filed the^present OA for the recovery a total sum of Rs.29,48,221/- frcm the defendant wlth future interest ' , N.n - '1,

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2 oA.NO.199/2025

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@8.45olo^p.a. with monthly rests from 01.02.2026 till the date of realization 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 Slvadasan, Chief Manager, as AW-1 and marked 12 documents through him as Ex.A.l to Ex.A. 12.

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Heard the Ld. Counsel for the Applicant Bank. 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 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.12 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.199/2026 is allowed as under: -

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i) The Defendant is liable to pay to the Applicant Bank a sum of Rs.?9,48,221/- with 1ffiivit

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oA.NO.199/2026

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future interest @15olo 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 in the schedule annexed to the OA and the applicant bank^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^{properties of} defendants 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 directed to^{file Cost Memo within2 weeks} from the date of receipt of this Order.

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Issue Recovery Certificate according^ly.

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Communicate a copy of this order^to the^{parties concerned.} (Dictated to the steno, corrected, siSned and^pronounced by me in the open^{court on} this the 28ih Day of aPRlt,^2026).

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PRESIDING OFFICER

Punjab National Bank v. Mr Laxminarayana Narasimulu Palakurki

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. Mr Laxminarayana Narasimulu Palakurki

Case brief

What is this about?

What did the court decide?

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