Allowed

Axis Bank Ltd. v. Shri Shakthi Engineering

DRT8 May 2026OA/1027/2025

Case brief

AI extract

What is this about?

In this Debts Recovery Tribunal proceeding, the applicant bank sought recovery of a sum along with future interest and costs against three respondents who remained ex-parte. The Tribunal, relying on the evidence affidavit and documents filed by the bank, allowed the application and held the respondents jointly and severally liable to pay the claimed amount.

What did the court decide?

Respondents held jointly and severally liable to pay Rs. 22,03,369/- with future interest and costs; Recovery Certificate issued.

Axis Bank Ltd. versus Shri Shakthi Engineering — Banking and Recovery | DRT (2026)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDEMBAD

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DATED THIS THE OSTH DAY OF MAY, 2026

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PRESENT: SH. MMESHWAR KOTHE, B.Com., L.LB. (Hons.), M.A.

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PRESIDING OFFICER

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Original Application No: 1027 OF 2025

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Axis Bank Ltd., 5-2-LA3/ 184, Modi Square UI Floor, R P Road, Secunderabad - 500003. Rep. by its Authorized Signatory.

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..Applicant

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Versus

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Shri Shakthi Engineering., Rep by its Partner, Ashok Kumar Varma, Shed No.17, Phase-III IDA Patancheruvu, Sangareddy-502319.

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Ashok Kumar Varma, S/o. Late Upender Varma, Age 53 Years Occ: Pvt. Service, R/o. 1-52132 New Duplex Colony, Road No.09 Shankar Nagar, Tiru malagiri Hyderabad - 500050.

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Dazy Rani Varma, D/o. Ramnarayan Varma, Age 44 Years, Occ: Business Rlo. 7-52/32, New Duplex Colony Road No.09, Shankar Nagar, Tirumalagiri Hyderabad - 500050.

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...... Defendants

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Counsel for the Applicant : M/s. Lotus Law Associates Defendants : Ex-parte

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:: qLLEL ::

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The Applicant Bank filed the present OA for the recovery of a sum of Rs.22,O3,3691- from the defendaqts^jointly and severally with eW*'

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OA.No.1027/2025

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future interest @10.50o/o p.a. compounded with monthly rests from the date of application till the date of realisation along with costs.

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Summons served on D1 to 3 through paper publlcation. They were set ex-parte on 11.03.2026 as called absent and no representation.

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The Applicant Bank examined Syed Shafiuddin, Legal Manager as AW-1 and marked 10 documents through him as Ex. A.1 to Ex. A.10.

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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 entitled for the claim made in the OA against the Defendants?

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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.10 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendants. Hence, I hold that the Defendants are jointly and severally liable to pay the OA clalm to the Applicant Bank with future interest and costs.

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In the result, the present Original Application No.1027l2025 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.22,03,369/- with future interest @10.500/0 p.a. simple, from the date of application till the date ot reatization.Tffiv\

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OA.No.tO27 /2025

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ii) the applicant bank is also entitled to proceed against the person and properties of the defendant for realization of lts dues;

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ili) the applicant bank is entitled for the costs.

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The Applicant Bank is directed to file Cost lvlemo 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 Osrh day of May, 2026).

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(RAMESHWAR KOTHE) PRESIDING OFFICER

Axis Bank Ltd. v. Shri Shakthi Engineering

Case brief

What is this about?

What did the court decide?

Axis Bank Ltd. v. Shri Shakthi Engineering

Case brief

What is this about?

What did the court decide?

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