Allowed

M/S. Punjab National Bank v. M/s. R N Granites.

DRT28 Jul 2026OA/88/2026

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the original application filed by Punjab National Bank for recovery of Rs.3,12,78,237/- from the defendants jointly and severally. Since the defendants appeared ex-parte, the tribunal held their claim clinched by the evidence affidavit and marked documents, ordering realization of dues secured by mortgage or through personal/property attachment.

What did the court decide?

Direct payment of Rs.3,12,78,237/- with future interest and costs; permission to proceed against mortgaged properties, personal assets, and issue Recovery Certificate.

M/S. Punjab National Bank versus M/s. R N Granites. — Execution and Attachment | DRT (2026)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD

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DATED THIS THE 28T8 DAY OF JULY, 2026

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

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ORIGINAL APPLICATION NO: 88 OF 2026

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M/s. Punjab National Bank., Asset Recovery Management Branch Hyderabad, 6-3-865, My Home Jupally 1st Floor, Greenlands, Ameerpet Hyderabad - 500016. Rep. by its Authorized Signatory.

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.....Applicant.

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Versus

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M/s. RN Granites., Olo. 2-a5, Gudurupadu Village, Khammam Rural Mandal, Khammam - 507003. Rep by its Authorised Person.

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Mr. Puchakalaya Prabhakar S/o. Puchakalaya Srinivasa Rao Age Major, Occ: Not Known, R/o,H.No. 2-85, Gudurupadu Village, Khammam Rural Mandal, Khammam - 507003.

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Mr. Puchakayala Kamalakar S/o. Puchakalaya Srinivasa Rao Age Major, Occ: Not Known, R/o. H.No. 70-6-40 / 3 / 72 I l, Venkateswara Colony ... Defendants

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Burhanapuram, Khammam-507001.

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: Mr. Manav Gecil Thomas Counsel for the Applicant

Defendants

: Ex-Parte

:: CLLLEL ::

The Applicant Bank filed the^present OA for the^{recoverya total} sum of Rs.3,12,7A,237/- from the,ldefendants^{jointly and} ,'zzlY'-^.,tlth ';/ ::t'"

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oA.NO.88/2025

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severally with future interest @13.40olo p.a. plus penal interest @27o with monthly rests from 01.12.2025 till the date of realization along with costs and in default for sale of OA schedule properties.

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WS of D1 to 3 not filed hence, their right was forfeited and were set ex-parte on 17.07.2026 as called absent and no representation.

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The Applicant Bank examined P S Sivadasan, Legal Manager, as AW-1 and marked 18 documents through him as Ex. A.1 to Ex. A.18.

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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 Defendants and OA schedule ProPerties?

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As stated supra, the Defendants remained ex-parte. The Evidence Affidavit coupled with the recitals in the documents viz., Exs. A.1 to 4.18 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendants. Hence, I hold that the Defendants are jointly and severally 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.88/2026 is arrowed as under: - OWr*

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oA.NO.88/2026

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i) The Defendants are jointly and severally liable to pay to the Applicant Bank a sum of Rs.3,12,78,237/- with future interest @14.40o/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 mortgage of properties 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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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, corrected, signed and pronounced by me in the open court on this the 28th Day of luly, 2026).

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frw,uo (rua!4€SHWAR KOTHE) PRESIDING OFFICER

M/S. Punjab National Bank v. M/s. R N Granites.

Case brief

What is this about?

What did the court decide?

M/S. Punjab National Bank v. M/s. R N Granites.

Case brief

What is this about?

What did the court decide?

What the court decided

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