Allowed

The Axis Bank Limited v. Swathi Upc Doors & Windows

DRT8 Oct 2025OA/223/2024

Case brief

AI extract

What is this about?

Debts Recovery Tribunal adjudicated an original application filed by Axis Bank Limited for recovery of dues. In the absence of respondents, the tribunal held the defendants jointly and severally liable and allowed the application.

What did the court decide?

The respondent defendants are to jointly and severally pay Rs.45,57,308.50 with future interest at 12.5% p.a.; bank entitled to recovery from assets and properties; recovery certificate to be issued.

The Axis Bank Limited versus Swathi Upc Doors… — Contract and Commercial Disputes | DRT (2025)

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IN THE DEBTS RECOVERY TR]BUNAL.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.

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PRESIDING OFFICER

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ORIGINAL APPLICATION No: 223 OF 2024

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The Axis Bank Limited., Having it Office at #5-4-183/184 3'd Floor, R.P Road, Secunderabad-50003. Rep. by its Authorized Signatory.

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. ....Applica nt.

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Versus

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Swathi UPC Doors & Windows., R/o. Plot No.12, Survey No.56 Srikara Nivas, Chakradar Colony Near H^{p petrolpump} Ba hadurpa[y - 500072. Rep by its^proprietor Desharaju Swathi.

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Also at:-

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Swathi UpC Doors & Windows., Plot No.104 & 10S, Flat No.2O1 2nd Floor, Srikara Nivas, Chakradar Colony, Allwyn Colony^phase II Kukatpally - 500072.

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Also at:-

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Swathi UPC Doors & Windows., H.No.15-12/3, Prashanth Nagar Siddipet - 502103.

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Desharaju Swathi D/o. Desha raju Rajeshwar Rao Aged about 38 Years, Occ: Business R/o. Plot No.12, Survey No.56 Srikar Nivas, Chakradar Colony, Near H P Petrol Pump, Bahadurpa y - 500072.

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Also at:Desharaju Swathi Plot No.104 & 105, Flat No,201

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fu'o

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oa.No,223l2024

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2nd Floor, Srikara^{Nivas, Chakradar} Colony, Allwyn Colony^PhaseII Kukatpally - 500072.

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Also at:Desharaju Swathi H. No.15- 1213, Prashanth^Nagar Siddipet - 502103.

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... Defenda nts

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Counsel for the^APP|icant Defendants

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: M/s. Veera Shiva^Kumar

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:Ex-parte

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:: ORDER ::

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The Applicant Bank filed the^{present OA for the recovery a total} sum of Rs.45,57,308.5ps^{i.e., a sum of Rs.42,442l- towards} Loan Alc. No. BPR000804721815 and^{asum of} Rs.45,14,866.50ps towards Loan^{A/c. No.922030021937527} from the defendants^jolntly and^{severally with future interest} @18%^{p.a. frcm19.04.2024till the date of realizationalong} with costs and in default for sale of^{hypothecated assets.}

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Summons served on^D1 and^{2 throughpaper publication.They} were set ex-parte on 02.04.2025 as called absent and^no representation.

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The Applicant Bank examined Syed Shafiuddin, Senior Manager, as AW-1 and marked 19 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 thar arises for consideration t , OXO.O

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oa.No.223 /2024

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Whether the Applicant Bank is entitled for the claim made in the OA against the Defendants and OA hypothecated assets ?

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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.19 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.22312024 is allowed as under: -

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i) The Defendants are jointly and severally liable to pay to the Applicant Bank a total sum of Rs.45,57,308.5ps i.e., a sum of Rs.42,442/- towards Loan A/c. No. 8PR000804721815 and a sum of Rs.45,14,866.50ps towards Loan A/c. No. 922030027937527 with future interest @12.5%^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 hypothecation of assets described in the schedule annexed to the OA and the applicant bank is entitled to proceed against the same to realise its debl)/frfig...o, ,.,^.g\r,

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oa,No,223l2024

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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 Certlncate accordingly.

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Communicate a copy of this order to the^parties concerned. (Dictated to the steno, cor.ected, sitned and pronounced by me in the open court on this the 08rh Day ofOctober, 2025).

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/(M*e L.,,. o- (RAMESHWAR KOTHE) PRESIDING OFFICER

The Axis Bank Limited v. Swathi Upc Doors & Windows

Case brief

What is this about?

What did the court decide?

The Axis Bank Limited v. Swathi Upc Doors & Windows

Case brief

What is this about?

What did the court decide?

What the court decided

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