Allowed

The Axis Bank Ltd. v. Mr. G. Veera Gangadhara Kasi

DRT24 Oct 2025OA/251/2025

Case brief

AI extract

What is this about?

In an ex-parte order, the Debts Recovery Tribunal allowed an original application filed by Axis Bank Ltd. for recovery of a principal sum of Rs. 39,88,108/- along with future interest and costs against the respondent Defendant.

What did the court decide?

The Defendant is liable to pay Rs. 39,88,108/- with future interest at 18% p.a. simple from the date of application till realization. A Recovery Certificate is issued. Applicant Bank is directed to fi

The Axis Bank Ltd. versus Mr. G. Veera Gangadhara Kasi — Banking and Recovery | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDEMBAD DATED THIS THE 24TH DAY OF OCTOBER, 2025 ' PRESENT: SH. RAMESHWARII9IH^EI B.gom., L.LB. (Hons.), M.A. PRESiDING OFFICER

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Original Application No; 251 OF 2025

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The Axis Bank Ltd., Having its Office at 5_4_183/184 3.o Floor, R^p Road, Secunderabad _ 500003. Rep. by its Authorised Signatory.

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.....Apptica nt

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Versus

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Mr. G. Veera Gangadhara Kasi 5/o. Veerabrahman, Aged about 36 years ?j.:,Priuulg^{ET?toy, H.No.4_32_ 1 L7o} I^{2/ 60} 2.'-.ttoor, Shirdi Nagar, phase 2, Allwyn Colony Kukatpalty, Hyderabad - 5OOO72.

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Also at:-

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C/o. ,Delicatessen Engineering Services pvt. Ltd., J",t-toor, Tower li Shanta Sriram Tech park 126, Adjacent to DLF cyber city l:iy:,1 ^9.. Gachibowli, Hyderabad _ 500082.

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. ..... Defendant

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Counsel for the Applicant

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Defendants

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M/s.1.4. Srin ivas Reddy

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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 of a total sum of Rs.39,88,10g/- from the defendant with future interest @18o/o p.a. with quarterly interests fromlhe date of application ti the date of reatisation atong with ,orrrQ$*f

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oA.No.251/2025

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Summon *1. *,^{served ex-parte on sole defendant on 03 09 2025 through as called absent Paperpublication and an;no} rePresentation'

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The AW-1 Applicant^{and marked Bank examined Syed 10 documentsthrough Shafiuddin' him as Senior Ex Manager A'1 to Ex'as} A.10.

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Heard^{the Ld' Counselfor the Applicant Bank and 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 againstthe} Defendant?

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As stated^{supra, the Defendant remained ex-parte'The Evidence} Affldavit^{coupledwiththe recitals in the documents viz ' Exs A'1 to} A'lomarkedonbehalfoftheApplicantBankclinchestheClaimof the^{Applicant Bank agalnstthe Defendant Hence' I hold that the} Defendant^{is llable to pay the oA claim to the APplicant Bank with} future^{interest and costs'}

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In the^{result, the present Original ApplicationNo 251/2025is} allowed^{as under: -}

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i) The^{Defendantis liable to pay to the Applicant Bank a} sum of^{Rs 39,88,108/-with futureinterest@10'99o/o} p.a. simple,^{from the date of apPntion till the date of} realization; !/V"s'-

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oA.No.2s1l202s

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ii) the applicant bank is atso entiued to proceed against the person and properties of the defendant for realization of its dues;

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iii) the applicant bank is entiued 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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Communicate a copy of this order to the parties concerned. (Dictated to the steno., transcribed by him, corrected, signed and pronounced by me in the open court on this the 24rh day ofoctobet 2025).

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Ox*"

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(RAMESHWAR KOTHE) PRESIDING OFFICER

The Axis Bank Ltd. v. Mr. G. Veera Gangadhara Kasi

Case brief

What is this about?

What did the court decide?

The Axis Bank Ltd. v. Mr. G. Veera Gangadhara Kasi

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

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