Allowed

The Axis Bank Ltd. v. Mr. Singi Reddy Veera Hanuman Reddy

DRT12 Nov 2025OA/527/2025

Case brief

AI extract

What is this about?

In Original Application No. 527 of 2025, the Debts Recovery Tribunal-II at Hyderabad allowed a claim filed by Axis Bank Limited as the applicant against two defendant respondents. The recovery was due as a loan with interest and future interest along with costs and sale of hypothecated vehicle.

What did the court decide?

Defendants to be paid sum of Rs. 1,17,45,962/- with future interest @9.35% p.a. simple and allowed sale of hypothecated vehicle.

The Axis Bank Ltd. versus Mr. Singi Reddy Veera Hanuman… — Execution and Attachment | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL.II AT HYDERABAD

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DATED THIS THE 12TH DAY OF NOVEMBER, 2025

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PRESENT: SH. RAIYESHWAR KOTHE, B.Com., L.LB.^{(Hons.), M.A.} PRESIDING OFFICER

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ORIGINAL APPLICATION NO: 527 OF 2025

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The Axis Bank Ltd., Having it Office at 5-4-183/184 3rd Floor, R P Road, Secunderabad-soooo3. Rep. by its Authorized Signatory.

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.....Applicant.

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Versus

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Mr. Singi Reddy Veera Hanuman^Reddy S/o. Rajareddy Singi Reddy Aged about 47 Yearc, Occ: Business R/o. Plot No.405, Villa No.21, l4eher Valley, Sri Saibaba Enclave, Mallampet Hyderabad - 500090.

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Also at:-

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c/o. vHR constructions., H. No.10-91/2/3, Boomkal Main Road Karimnagar - 505001.

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l,lrs. Singi Reddy Sathyamma D/o. K Ram Reddy, Aged about^{43 Years} Occ: Business, R/o.^{PlotNo.405,VillaNo.21} Meher Valley, Sri Saibaba^{Enclave, Mallampet} Hyderabad - 500090.

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Also at:-

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C/o. VHR Constructions., H.No.10-91/2/3, Boomkal^MainRoad Karimnagar - 505001

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... Defendants

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Counsel for the Applicant : M/s. M Srinivas^Reddy

Defendants

:Ex-parte /WP

oA,NO.527l2025

:: qLLL& ::

The Applicant Bank filed the present OA for the recovery a total sum of Rs.1,17,45,9621- from the defendants jointly and severally with future interest @18o/o p.a. with monthly rests from 07.02.2025 till the date of realization along with costs and in default for sale of hypothecated vehicle.

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Summons sent to D1 & 2 returned with endorsement refused hence, deemed to be served. They were set ex-parte on 04.09.2025 as called absent and no representation.

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The Applicant Bank examined Syed Shafiuddin, Senior Manager, as AW-1 and marked 09 documents through him as Ex. A.1 to Ex. A.09.

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Heard the Ld. Counsel for the Applicant Bank. 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 enti ed for the claim made in the OA against the Defendants and OA hypothecated vehicle?

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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.09 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendants. Hence, I hold that the Defendants are join y and severally liable to pay the OA claim to the Applicant Bank with future interest and costs. ew*

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oA.NO.527l2025

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In the result, the present Original Application No.527/2025 is allowed as under: -

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i) The Defendants are^jointly and severally liable to pay to the Applicant Bank a sum of Rs.L,17,45,962/- with future interest @9.35o/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 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;

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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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B. 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, corrected, signed and^pronounced by me in the open court on this the 12rh Day of November, 2025).

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lAYvyn- -e) U'6'"*''

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(RAMESHWAR KOTHE) PRESIDING OFFICER

The Axis Bank Ltd. v. Mr. Singi Reddy Veera Hanuman Reddy

Case brief

What is this about?

What did the court decide?

The Axis Bank Ltd. v. Mr. Singi Reddy Veera Hanuman Reddy

Case brief

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What did the court decide?

What the court decided

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