Allowed

Axis Bank Ltd. v. Latheef Shaeb

DRT11 Nov 2025OA/82/2025

Case brief

AI extract

What is this about?

In an ex-parte original application, the DRT allowed the debt recovery claim by Axis Bank Ltd. against Latheef Shaeb, directing payment of the principal sum with future interest and costs, and authorizing recourse against hypothecated assets and the defendant's properties.

What did the court decide?

Defendant to pay Rs.40,12,905/- with future interest and costs; applicant bank entitled to recover from hypothecated assets and defendant's properties; Recovery Certificate issued.

Axis Bank Ltd. versus Latheef Shaeb — Execution and Attachment | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD DATED THIS THE 11TII DAY OF NOVEMBER, 2025

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

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ORIGINAL APPLICATION No: 82 OF 2025

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Axis Bank Ltd., Having its Office at 5-2-183/184 3'd Floor, Modi Square, R P Road Secunderabad Mandal, Secu ndera bad-500003. Rep. by its Authorized Signatory.

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.....Applicant.

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Versus

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Latheef Shaeb, S/o. Mahaboob basha Shaik Age 34 Years, Occ: Pvt. Service H.No. 8-1-398/PM/238, F.No.403 Jabbar Residency, Pa ra mount Colony Tolichowki, Golkonda, Hyderabad - 500008.

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Also at:-

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Latheef Shaeb, S/o. Mahaboob basha Shaik Age 34 Years, Occ: Pvt. Service c/o. L N Dental, MIG-25, Road No.4 KPHB, Phase I, Kukatpally, Hyderabad-500072.

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Also at:-

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Latheef Shaeb, S/o. Mahaboob basha Shaik Age 34 Years, Occ: Pvt. Service, H.No.9-10 lYain Bazar, Cumbum, Prakasam - 523333.

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... Defenda nt

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Counsel for the Applica nt : M/s. Lotus Law Associates

Defenda nt

:Ex-parte

:: CLLD-L& ::

The Applicant Bank filed the present OA for the recovery a total sum of Rs.40,12,905/- from the dant wiih future interest

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k<.s

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oA.NO.82l2025

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@9.050/o^p.a. with monthly rests from the date of application till the date of realization along with costs and in default for sale of hypothecated assets.

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WS of sole defendant not filed hence, right was forfeited and was set ex-parte on 08.07.2025 as called absent and no representation.

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The Applicant Bank examined Syed Shafiuddin, Manager, as AW-1 and marked 06 documents through him as Ex.A.1 to Ex.A.06.

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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 entitted for the claim made in the OA against the Defendant and OA hypothecated assets ?

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As stated supra, the Defendant remained ex-parte. The Evidence Affidavit coupled with the recitals in the documents viz., Exs.A.1 to A.06 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.

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In the result, the present Original Application No.g2l2025 is allowed as under: -

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i) The Defendant is liable to pay to the Applicant Bank a sum of Rs.40,12,905/- with

'ffi'''r*

oA.NO.8212025

future interest @9.05o/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 assets 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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rii) the applicant bank is also entitled to proceed against the person and properties of defendants for realization of its dues;

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lv) 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 11th Day of November, 2025).

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//w** (RAT1ESHWAR KOTHE) PRESIDING OFFICER

Axis Bank Ltd. v. Latheef Shaeb

Case brief

What is this about?

What did the court decide?

Axis Bank Ltd. v. Latheef Shaeb

Case brief

What is this about?

What did the court decide?

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