Allowed

The Axis Bank Ltd. v. Mr. Thippani Rajesh

DRT14 Nov 2025OA/169/2025

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an original application by Axis Bank Ltd. for recovery. The court held the defendants to be jointly and severally liable to pay the claimed sum with interest and costs, permitting the bank to proceed against the hypothecated vehicle and other properties.

What did the court decide?

Defendants held jointly and severally liable to pay Rs. 68,32,997/- with future interest; bank entitled to realize dues from hypothecated vehicle and defendants' properties.

The Axis Bank Ltd. versus Mr. Thippani Rajesh — Execution and Attachment | DRT (2025)

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IN TH E DEBTS RECOVERY TRIBUNAL.II AT HYDERABAD

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DATED THIS THE 14TH DAY OF NOVEMBER, 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: 169 0F 2025

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The Axis Bank Ltd., Having its Office at 5-4-183/184 3rd Floor, R.P Road, Secunderabad-500003. Rep. by its Authorized Signatory.

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.....Applicant.

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Versus

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Mr. Thippani Rajesh, S/o. Rajamallu Aged about 53 Years, Occ:^Business R/o. H.No.5-37l7, lstFloor,^{Plot No.53} Road No.9, KPR Colony,^Manlkonda Hyderabad - 500089.

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Mrs. Thlppani Laxmi,^{W/o. Thippani} Rajesh, Aged about^{41 Years, Occ: Housewife} R/o. H.No.5-3717,^{1st Floor,Plot No.53} Road No.9, KPR^{Colony,Manikonda} Hyderabad -^500089.

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... Defendants

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Counsel^{for the APPIicant}

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: M/s. M.^{Srinivas Reddy}

Defendants

: Ex-parte

:: ORDER^::

The Applicant^{Bank filed the present OA for the recovery a total} sum of^{Rs68,32,gg7l- frcm the defendantsjointly and} severally^{with future interest @18o/o p a'withquarterly} interests from^{the date of application till the date of realization} default^{for sale of hypothecated vehicle'} along^{with costsand in} N'e

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oA.NO.169/2025

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Summons served on D1 and 2 through paper publication. They were set ex-parte on 16.07.2025 as called absent and no representation.

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The Applicant Bank examined Mr. Syed Shafiuddin, Senior Manager, as AW-1 and marked 10 documents through him as Ex. A.1 to Ex. A. 10.

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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 enti ed 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.10 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendants. Hence, I hold that the Defendants are joinuy and severally liable to pay the oA craim to the Appricant Bank with future interest and costs.

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In the result, the present Original Application No.169/2025 is allowed as under: -

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i) The Defendants are joinUy and severa lly liable to pay to the Applicant Bank a sum of Rs.6A,32,997 / - with future interest @12.50o/o p.a. simple from the date of apptication till the date of reatization;(fuy\g

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oA.NO.159/2025

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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 debq

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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 14th Day of November, 2025).

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O%'* t) (RAMESHWAR KOTHE) PRESIDING OFFICER

The Axis Bank Ltd. v. Mr. Thippani Rajesh

Case brief

What is this about?

What did the court decide?

The Axis Bank Ltd. v. Mr. Thippani Rajesh

Case brief

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