Allowed

Bank of Maharashtra v. Mr. Akula Vijaya Bhasker

DRT9 Dec 2025OA/8/2025

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an Original Application filed by Bank of Maharashtra for recovery of Rs. 2.88 crores as a housing loan defaulted by the defendants. With the defendants' right to file written statement and adduce evidence forfeited, the Tribunal held the bank entitled to the claim, interest, and costs, and directed the issuance of a recovery certificate.

What did the court decide?

Defendants to pay Rs. 2,88,53,045 with future interest and costs; Recovery Certificate issued.

Bank of Maharashtra versus Mr. Akula Vijaya Bhasker — Contract and Commercial Disputes | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD DATED THIS THE^gth DAY OF DECEMBER, 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: B OF 2425

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BANK OF MAHARASHTRA, Head office at "LOKMANGAL", 1501, Shivaji Nagar, Pune, Branch office at Radha Krishna Estate, Road No.4, Kukatpally, Hyderabad Rep by its Chief Manager

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Applicant.

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Versus

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Mr. AKULA VIIAYA BHASKER S/o Mr. Akula Bhagiaih, a/a 45 yrs, Gender: male, Occ: Business, R/o.

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Mrs. AKULA JYOTHI W/o Mr. Akula Vijaya Bhasker, A/a lg yrs, Gender: Female, Occ: Housewife, Both are Residents of H.No: 5-437/12, Surya Nagar Colony, Old Alwal Medchal Malkajgiri-500010

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...Defendants

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Counsel for the Applicant

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: Mr. T.S.S. Krishna

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Counsel for the Defendants

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: Sri C.H. Kishore fr\6"

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oA.NO.8/202s

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:: ORDER::

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The Applicant Bank filed the present OA for the recovery a total sum of Rs. 2,88,53,045/- from the defendants^jointly and severally towards housing loan with future interest @8.85o/o^per annum rate compounded monthly from the date of application till the date of realization along with costs.

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The averment of applicant bank as^per the OA, in brief, are that defendants approached the applicant bank for housing^{loan of} Rs. 3,00,00,000/-. The defendants executed housing loan agreement dated 28.06.2022 and secured the said loan by executing the memorandum of deposit of title deed dated 29.06.2022. Nonetheless the defendants defaultedⁱⁿ repayment of loan; subsequently their account was classified as NPA on 08.11.2024 and demand notice was issued on 30,LL.2024. As the defendants have failed to clear the dues, the present OA is filed.

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The defendants' right to file written statement was^forfeited vide docket order dated 22.08.2025 after ample of opportunity being^provided.

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The Applicant Bank examined Mr. K.V. Sreedhar Sastry, Chief Manager, as AW-l and marked 25 documents through^him as Ex.A.1 to Ex.A.25.

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The right of Defendant Nos.1 and 2 to adduce^evidencewas forfeited for non-representation and they were set ex^{parte vide} docket order dated 08.L2.2025, despite amplF opportunity beins afforded. m""

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oA.NO.8/202s

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Heard the ex-parte argument from the Learned Counsel for the applicant. 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 moftgage property?

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B. As stated supra, the defendants' right to file written statement and adduce evidence stood forfeited, and they were thereafter set ex parte. The Evidence Affidavit coupled with the recitals in the documents viz., Exs.A.1 to A.25 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendants. Hence, I hold that the Defendants are 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.8/2025 is allowed as under: -

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i) The Defendants are liable to pay to the Applicant Bank a sum of Rs. 2,88,53,045/towards Housing Loan Facility with future interest @ 7.650/o p.a. simple from the date of application till the date of realization;

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ii) The OA claim is secured by way of mortgage of property described in the schedule annexed to the OA and the applicant is 7fo**

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oA.NO.8/2025

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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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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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L2. Communicate a copy of this order to the parties concerned.

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(Dictated to the steno, corrected, signed and pronounced by me in the open court on this the 9i' Day of December, 2025).

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,ffix^,, PRESIDING OFFICER

Bank of Maharashtra v. Mr. Akula Vijaya Bhasker

Case brief

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Bank of Maharashtra v. Mr. Akula Vijaya Bhasker

Case brief

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