Allowed

The Axis Bank Ltd. v. Mr. T. Srinivas Reddy

DRT11 Dec 2025OA/242/2025

Case brief

AI extract

What is this about?

Original Application by Axis Bank Ltd. for recovery of Rs.28.66 lakh with interest against the Defendant. The Defendant appeared ex-parte. The Tribunal allowed the claim based on documentary evidence and ordered the issue of a Recovery Certificate.

What did the court decide?

Defendant liable to pay Rs.28.66,066/- with future interest; hypothecated vehicle and other properties can be attached for realization; Recovery Certificate issued.

The Axis Bank Ltd. versus Mr. T. Srinivas Reddy — Contract and Commercial Disputes | DRT (2025)

¶1

IN THE DEBTS RECOVERY TRIBUNAL.II AT HYDERABAD DATED THIS THE 11TFi DAY OF DECEMBER, 2025

¶2

PRESENT: SH. RAMESHWAR KOTHE, B.Com., L.LB. (Hons.), lY.A. PRESIDING OFFICER

¶3

ORIGINAL APPLICATION No: 242 OT 2025

¶4

The Axis Bank Ltd., Having it Office at 5-4-183/184 3d Floor, R.P Road, Secunderabad-s0ooo3. Rep. by its Authorized Signatory.

¶5

.....Applicant.

¶6

Versus

¶7

Mr. T. Srinivas Reddy, S/o. Srl Chandra Reddy Aged about 46 Years, Occ: Business R/o. Plot No.1539, Flat No.202, Siva Sai Residency, Pragathi Nagar, Nizampet Hyderabad - 500090.

¶8

Also at:-

¶9

C/o. Algo Leap Technologies^{Pvt. Ltd.,} 3.d Floor, Block B, Cyber^Gateway Hitech City, Hyderabad - 500081.

¶10

... Defendant

¶11

: M/s. M. Srinivas Reddy counsel for the Applicant

Defendant

: Ex-Parte

:: qLqq& ::

The Applicant^{Bank filed the present OA for the recoverya total} sum of Rs.28,66,066/-^{from the defendantwith futureinterest} @18o/o^{p.a. with quarterly interest from the date of application} till the date of realization^{along with costs and in default for} sale of hypotheca led vehrcr,./fu..* (-/ ':.'

¶16

¶17

oA.NO.242l202s

¶18

Summon served on sole defendant through paper publication and was set ex-parte on 08.10.2025 as called absent and no representation.

¶19

The Applicant Bank examined Syed Shafiuddin, Senior Manager, as AW-1 and marked 08 documents through him as Ex.A.1 to Ex.A.08.

¶20

Heard the Ld. Counsel for the Applicant Bank. perused the material placed on record.

¶21

The point that arises for consideration is:-

¶22

Whether the Applicant Bank is enti ed for the claim made in the OA against the Defendant and OA hypothecated vehicle?

¶23

As stated supra, the Defendant remained ex_parte. The Evidence Affidavit coupled with the recitals in the documents viz., Exs.A.1 to A.0B marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendant. Hence, I hold that the Defendant is liable to pay the OA claim to the Applicant Bank with future interest and costs.

¶24

In the result, the present Original Application No.242/2025 is allowed as under: -

¶25

i) The Defendant is liable to pay to the Applicant Bank a sum of Rs.28,66.066/_ with future interest @13.55o/o p.a. simple from the date of apptication till the date of realization:

1W,'

0A.NO.24212OZS

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 debt;

¶30

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

¶31

iv) the applicant bank is entitled for the costs.

¶32

The Applicant Bank is directed to file Cost^{Memo within2 weeks} from the date of receipt of this Order.

¶33

Issue Recovery Certificate accordingly.

¶34

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 11th Day of December, 2025). fu*

¶35

(RAMESHWAR KOTHE) PRESIDING OFFICER

The Axis Bank Ltd. v. Mr. T. Srinivas Reddy

Case brief

What is this about?

What did the court decide?

The Axis Bank Ltd. v. Mr. T. Srinivas Reddy

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

Coram

Case details

Similar cases

Canara Bank versus M/s. Bheeshma Jute Industries Private Limited.

Bank of Baroda versus M/S. Maya Ladies Corner

Karnataka Bank Limited versus Mr. Thandu Srinivasulu

Union Bank of India versus Mr. Pathan Fairoz Khan

The Axis Bank Ltd. versus Mr. Tanguturi Sai Krishna

Icici Bank Limited versus Sri. Gunda Shyamsunder Reddy