Allowed

Axis Bank Ltd. v. Bandla Dasharatha

DRT30 Apr 2025OA/8/2024

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed an original application filed by Axis Bank for recovery of Rs. 21,39,225/- with interest from defaulters. Finding defendants' rights forfeited for non-appearance, the tribunal held the bank's claim based on unchallenged evidence and documents as valid. The order secured the claim via hypothecated vehicle and directed issuance of Recovery Certificate.

What did the court decide?

Defendants ordered to pay Rs. 21,39,225/- with interest at 9.50% p.a. simpliciter from date of application till realization; claim secured by hypothecated vehicle.

Axis Bank Ltd. versus Bandla Dasharatha — Banking and Recovery | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL.II AT HYDEMBAD DATED THIS THE 3OTH DAY OF APRIL, 2025 PRESENT: sH. RAMESHWAI

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L' LB (Hons' ), M.A. r*..,tTffJ1t;.?.tfl '

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ORIGINAL APPLICATION NO. 8 OF 2024

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Between:

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The Axis Bank Ltd. 5-+-t831t8+, 3d floor R. P. Road, Secunderabad_3_ Rep by its Authorised Signatory.

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....Appticant.

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And

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Mr. Bandla Dasharatha S/o Venkaiah Bandla Aged about 47 years Occ: Business, H. No. 2-774, Chinnkondur Village Choutuppal Mandal Nalgonda District_508 252.

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2, Mrs. Bandla Bhagyamma W/o Mr. Bandla Dasharatha Aged about 39 years Occ: Home Maker, H. No. 2_774 Chinnkondur Village Choutuppa I Mandal Nalgonda District-sog 252.

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..... Defendants.

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Counsel for Applicant : Mr. M. Srinivas Reddy. Defendants : No representation.

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:: oRDER ::

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The Applicant Bank filed the present OA for the recovery of a sum of Rs.2I,39,225/_ joindy and severally from the

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oa.al2o24

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defendants^{with future interest @18Voper annumfrom} -Z-1.-tOt.ZOZZtill the date^{of realisation alongwithcosts'}

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z. The O"L"O""ts averments^{lof and applicant bank 2 availed commercial as per the oA, vehicle briefly, loan are thatvide} ,un.tion^{t"tt". dated 26'12'2019' They executedagreement} hypothecating^{the vehicle purchased from out of the loan} avaiteO^{from the appllcant bank and all otherrelated loan} documents.^{Subsequently' defendantsavailed Emergency} Credit^{LineGuarantee Scheme (ECLGS)' Due to default in} repaying^{the loan amounts, applicantbank issued recall notice} dated06.02.2023fordischargingtheliabitity.Defendantsfailed to^pay the^{outstandingdues' Hence' the present OA'}

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Defendants^{entered appearancethroughAdvocate'Mr' G'} Mahatma,^{but did not chooseto file written statement'Hence} defendants^{right of filing written statement was forfeited vide} docket order^{dated 30'08'2024'}

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Applicant^{Bank examined Prakash ladhav'Deputy Legal} Manager^{as AW-1 and marked17 documentsthrough himas} Ex, A,1 to^{Ex. A.17.}

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Defendants^{right to adduce evidence was forfeitedon} 02.04.20?5.

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Learned counsel^{appearing for the applicant prayed that orders} may be^{passed based on record' Defendants rightof arguments} forfeited vide^{docket order dated 21'04'2025Perused the} material Placed^{on record.}

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Y%(9

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1. The^point that^{arisesfor consideration is:- |'1))}

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oA.8/2024

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whethy the Appticant Bank is entitted for the oA ctaim ugu,inri.. the Defendants and OA ,in"aub hypothecated vehicle?

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As stated supra, defendants did not choose to pursue the case right from the stage of firing written statement to the stage of advancing arguments. Under such circumstances, the Evidence Affidavit of AW.1 coupled with the recitals in documents viz., Exs.A.1 to A.17 marked on behalf of the appricant bank remains unchallenged and un-rebutted. Accordingry, appricant bank cinches claim agalnst the Defendants. Hence, I hold that defendants 1 and 2 are riable to pay the claim made by the Applicant Bank in the o.A. with future interest and costs.

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In the result, the present originar Application No.g/2024 is allowed as under: -

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i) defendants 1 and 2 are liable to pay a sum of Rs.21,39,225/- to the applicant bank with future interest @9.50o/o per annum simple from the date of application till the date of realization;

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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 for recovery of its debt; ffi.U

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oA.8/2024

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iii) the^{applicant bank is also entitled to proceed} against the^{person and propertiesof the} defendants^{for realization of its dues;and}

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iv) the applicant^{bank is entitledfor the costs'}

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lo.TheApplicantBankisdirectedtofileCostMemowithin2weeks from the date of^{receipt of this Order'}

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Issue Recovery^{Certiflcateaccordingly.}

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L2. Communicate a^{copy of this orderto the partiesconcernedand} upload on official Web Portal.

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(Dict4ted to the steno, sigred and pronounced by me in the open court on this the 306 day ofApril,2025).

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OY**' (RIMESHWAR KorHE) PRESIDING OFFICER

Axis Bank Ltd. v. Bandla Dasharatha

Case brief

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What did the court decide?

Axis Bank Ltd. v. Bandla Dasharatha

Case brief

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What did the court decide?

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