Debts Recovery Tribunal allowed the applicant bank's original application for recovery of dues of Rs.22,11,857/- along with interest and costs, holding respondents jointly and severally liable and permitting sale of hypothecated vehicle.
Circumstances for recovery of Rs.22,11,857/- plus interest and costs; sale of hypothecated vehicle; issue of Recovery Certificate.
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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD
DATED THIS THE 11TH DAY OF NOVEMBER, 2025
PRESENT: SH, RAMESHWAR KOTHE, B.Com., L.LB. (Hons.), M,A. PRESIDING OFFICER
ORIGINAL APPLICATION No: 141 OF 2025
Axis Bank Ltd.,
Having its Office at 5-2-183/184 3'd Floor, Modi Square, R P Road Secu nderabad - 500003. Rep. by its Authorized Signatory.
.....Applica nt.
Versus
...Defendants
: M/s. Lotus Law Associates Counsel for the Applicant
Defenda nts
:Ex-parte
:: qLLE& ::
oA.NO.14u2025
of monthly rests from the date of application till the date of realization along with costs and in default for sale hypothecated vehicle.
Whether the Applicant Bank is entitled for the claim made in the OA against the Defendants and OA hypothecated vehicle?
oA.NO.141/2025
Rs.22,11,857/- with future interest @12.5olo p.a. simple from the date of application till the date of realization;
ii) the OA claim is secured by wayof hypothecation of vehicle described in the schedule annexed to the OA andthe applicant bank is entitled toproceed against the same to realise its debt;
iii) the applicant bank is also entitled toproceed against theperson andpropertiesof defendants for realization ofits dues;
iv) the applicant bank is entitled for the costs.
B. The Applicant Bank is directed to file CostMemo within2 weeks from the date of receipt of this Order.
//)W** lnhrtEsHwlRKorHE) PRESIDING OFFICER
1 issue framed by the court
Whether the applicant bank is entitled for the claim made in the OA against the defendants and the hypothecated vehicle?
Axis Bank Ltd.
Yerra Maheshwari
Yerra Prasad
Sh Rameshwar Kothe
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
