Allowed

The Axis Bank Ltd. v. M/S. Cjr Projects

DRT8 Oct 2025OA/108/2025

Case brief

AI extract

What is this about?

Upon the default of the respondents, the Tribunal allowed the Bank's application for recovery of Rs.31,85,161/- with interest and costs, holding the respondents jointly and severally liable and authorized the sale of the hypothecated vehicle.

What did the court decide?

Defendants jointly and severally liable to pay Rs.31,85,161/- with interest and costs; Bank entitled to realize debt via hypothecated vehicle and respondent properties.

The Axis Bank Ltd. versus M/S. Cjr Projects — Contract and Commercial Disputes | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD

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DATED THIS THE OSTH DAY OF OCTOBER, 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 : 108 0F 2025

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The Axis Bank Ltd., Having it Office at 5-4- 183/184 3'd Floor, R P Road, Secunderabad-soooo3. Rep. by its Authorized Signatory.

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Versus

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M/s. CJR Projects., Rep by its Proprietor Mrs. Challa Rani Reddy, 6-5110, MR 102, l"lrudhula Apts., Opp JPN Nagar, Madinaguda Miyapur, Hyderabad - 500049.

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Mrs. Challa Rani Reddy D/o. Satyanaryana Reddy Aged about 42 Yearc, Occ: Business R/o. H.No.6-5/10, MR 102, Mrudhula Apts., Opp JPN Nagar, Madinaguda Miyapur, Hyderabad - 500049.

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... Defendants

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Counsel for the Applicant : l4ls. M.Srinivas Reddy

Defendants

: Ex-parte

:: qLq..lLL ::

The Applicant Bank filed the present OA for the recovery a total sum of Rs.31,85,161/- from the defendants^jointly and severally with future interest @18o/o^p.a. with^quarterly interests from the date of application till the date of realization along with costs and in default for sale of hJpothecated vehicle.

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oA.NO.108/2025

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Summons served on D1 and 2. They were set ex-parte^on 30.04.2025 as called absent and no representation.

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The Applicant Bank examined Syed Shafiuddin, Senior Manager, as AW-1 and marked 09 documents through him as^{Ex. A.1 to} Ex. A.19.

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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 hypothecated vehicle?

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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 A.09 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.108/2025 is allowed as under: -

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i) The Defendants are jointly and severally liable to pay to the Applicant Bank a sum of Rs.31,85,161/- with future interest @8.510/o p.a. simple from the datC of application till / )l*^ - _

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the date of realization;1ffi.b

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oA.NO.108/202s

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ii) the OA claim is secured by way of hypothecation of vehicle 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 entifled to proceed against the person and properties of defendants for realization of its dues;

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iv) the applicant bank is entifled for the costs.

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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 08th Day of October, 2025).

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A*-.,rg ''*t''P (RTAMESHWAR , , KOTHE) PRESIDING OFFICER

The Axis Bank Ltd. v. M/S. Cjr Projects

Case brief

What is this about?

What did the court decide?

The Axis Bank Ltd. v. M/S. Cjr Projects

Case brief

What is this about?

What did the court decide?

What the court decided

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