Allowed

Punjab National Bank v. Sathishwar Reddy

DRT13 Jan 2026OA/974/2025

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed an original application filed by Punjab National Bank for recovery of Rs. 22,80,361.20 along with future interest and costs from the defaulting defendant, securing the claim via mortgage of properties. The judgment was passed ex-parte on default of hearing the respondent.

What did the court decide?

Defendant directed to pay Rs. 22,80,361.20 with interest; Recovery Certificate issued; Entitlement to proceed against mortgaged properties and assets.

Punjab National Bank versus Sathishwar Reddy — Banking and Recovery | DRT (2026)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD DATED THIS THE 13rH DAY OF JANUARY, 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: 974 OF 2025

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Punja b National Bank., Circle Office Secunderabad, Maharshi House, Road No.3, Banjara Hills Hyderabad - 500034. Rep. by its Chief Manager.

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.....Applicant.

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' Versus

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lvlr. Pad igela Sathishwar Reddy S/o. Sh. Padigela Ganga Reddy Occ: Business, Age 40 Years R/o. H.No.3-74, Doosgaon Nizamabad, Tela nga na - 503175. ... Defenda nt

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Counsel for the Applicant : Ms. N. M. Shiny Mounika Defe nd a nt :Ex-parte

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:: O-B-DEB- ::

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The Applicant Bank filed the present OA for the recovery a total sum of Rs.22,80,361.20ps i.e., a sum of Rs.20,16,490.71ps towards A/c.No.272200AG00000632 and a sum of Rs.2,63,870.49ps towards A/c.No.2722008800000034 from the defendant with future interest @13.650/o p.a. with monthly rests from O7.7O.2O24 till the date of realization along with costs and in default for sale of OA schedule^properties.

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Summon served on sole defendant and was set ex-parte on 19.L2.2025 as called absent and no reo(esentation. ,,1)7)Vn-, .' // /'-<.n'\ L.,.

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oA.NO.974l2025

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The Applicant Bank examined Mr. SK. Tawkeer Hasan, Law Manager, as AW-1 and marked 11 documents through him as Ex.A.1to Ex.A.11.

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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 properties?

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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.11 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.974/2025 is allowed as under: -

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i) The Defendant is liable to pay to the Applicant Bank a total sum of ,;..:;.^;,...,::,^i:.. Rs,22,80,361.20ps i.e., a sum of :., :. . Rs.20,16,490.71ps towards A/c. No. 272200AG00000632 and a sum of Rs.2,63,870.49ps towards Alc. No. 2722008800000034; with future interest @9.9olo p.a. simple from the date of application till the date of realizationi^,'":,. :,_. rl)',

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oA.NO.974l202s

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ii) the OA claim ls 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 13th Day ofJanuary, 2026).

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(RAMESHWAR KOTHE) PRESIDING OFFICER

Punjab National Bank v. Sathishwar Reddy

Case brief

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Punjab National Bank v. Sathishwar Reddy

Case brief

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