Debt Recovery Tribunal allowed Axis Bank Limited's original application for recovery of Rs.23,12,384/- along with future interest from Trivedi Automobiles and others secured by hypothecated assets.
Defendants jointly and severally liable to pay Rs.23,12,384/- with future interest; bank entitled to proceed against hypothecated assets and defendants' properties.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE DEBTS RECOVERY TRIBUNAL.II AT HYDERABAD DATED THIS THE O5th DAY OFMARCH,2025
PRESENT: SH. RAMESHWAR KOTHE,B.Com., L.LB. (Hons.), lvl.A. PRESIDING OFFICER
ORIGINAL APPLICATION No: 78OF 2024
Axis Bank Limited., Having its Omce at 5-2-183/184, 3'd Floor, Modi Square,R.P.Road, Secunderabad Mandal, Secunderabad-500003. Rep. by its Authorized Signatory.
..'..Applicant.
Versus
AIso at:-
Trivedi Automobiles.,
Represented by its ProPrietor Mrs. Bina TRivedi, R/o.32-67-8, New Balaji Nagar, R K Puram, Secunderabad - 500087.
... Defendants /X"*Gr.
2
oA.No.78l2024
Counsel for the Applicant
Defendants
M/s. Lotus Law Associates
Ex-parte
:: ORDER ::
were set ex-parte on 12.17.2024 as called absent and no
representation.
Whether the ApFtlicant Bank is enti ed for the claim made in the OA against the Defendants and OA hypothecated assefs?
oA.NO.78lZO24
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.
dW'"* (RAMESHWAR KOTHE) PRESIDING OFFICER
2 issues framed by the court
Whether the applicant bank is entitled for the claim made in the OA against the Defendants?
Whether the OA claim securities by way of hypothecation of assets described in the schedule annexed to the OA?
Axis Bank Limited
Rameshwar Kothe
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
