Allowed

The Axis Bank Ltd. v. M/s. Krithika Infra Developers.

DRT6 Feb 2026OA/116/2025

Case brief

AI extract

What is this about?

The Tribunal allowed the Original Application filed by Axis Bank Ltd. for recovery of outstanding dues aggregating approximately Rs. 69.33 lakrs from the defendants jointly and severally, secured by hypothecated vehicles along with future interest.

What did the court decide?

Defendants jointly and severally liable to pay Rs. 69,33,894/- with future interest @18% p.a. secured by hypothecated vehicles; Recovery Certificate issued.

The Axis Bank Ltd. versus M/s. Krithika Infra Developers. — Money Laundering | DRT (2026)

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IN THE DEBTS RECOVERY TRIBUNAL-]I AT HYDEMBAD

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DATED THIS THE O6TH DAY OF FEBRUARY, 2026

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

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ORIGINAL APPLICATION No: 116 OF 2025

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The Axis Bank Ltd., Having it Office at 5-4-183/184, 3'd 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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lvl/s, Krithika Infra Developers., Rep by its lvlanaging Partner Mr. Dumavat Srikanth & l'4rs. Bhukya Radha, Having its OFfice at Door.No.314 3'd Floor, LPT Market, Near Bus Stop L B Nagar, Hyderabad - 500070.

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Mr. Dumavat Srikanth, S/o. Gopal Aged about 36 Years, occ: Business Door.No.314, 3'd Floor, LPT Market Near Bus Stop, L B Nagar, Hydera bad- 500070.

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Also at:-

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Mr. Dumavat Srikanth

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C/o. H. No.1-20- 1933, Amarbad Nagarkurnool, Mahaboobnaga r - 509209.

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Also at:-

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C/o. H.No.7-67, GVR Colony,^Tattiannaram Hayathnagar, Hyderabad - 500068,

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lYrs. Bhukya Radha, D/o. Rama Swamy Aged about 35 Years, Occ: l4anaging Partner Of M/s. Krithika Indra Developers R/o. H.No.7-67, GVR Colony, Tattiannaram Hayathnagar, Hyderabad - 500068. '{.rr-. !

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oA.NO.116/202s

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Also at:-

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Door No.314, 3'd Floor, LPT Market, Near Bus Stop, LB Nagar, Hyderabad-500070.

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... Defendants

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Counsel for the Applicant Mr. M. Srinivas Reddy

Defendants

:Ex-parte

:: ORDER ::

The Applicant Bank filed the present OA for the recovery a total sum of Rs.69,33,A94/- i.e., a sum of Rs.56,52,602/- towards A/c. No. CER000807472339 and CER000807472467 and a sum of Rs.12,87,292/- towards A/c. No.AUR113408008443 from the defendants^jointly and severally with future interest @1870 p.a. with quarterly interests from the date of application till the date of realization along with costs and in default for sale of hypothecated vehicles.

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Summons served on D2 and 3 and was set ex-parte on 30.04.2025 as called absent and no representation. Summons served on D1 through paper publication and was set ex-parte on 16.07 -2025 as called absent and no representation.

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The Applicant Bank examined Syed Shafiuddin, Legal Manager, as AW-1 and marked 11 documents through him as Ex. A.1 to Ex. A.11.

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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:qry.

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oA.NO.115/202s

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Whether the Applicant Bank is entitled for the claim made in the OA against the Defendants and OA hypothecated vehicles?

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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.11 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 claim to the Applicant Bank with future^interest and costs.

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In the result, the^present Original^{Application No.116/2025is} allowed as under:^-

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i) The Defendants are^jointly and severally liable to pay to the Applicant Bank a^total sum of Rs,69,33,8941- i.e., the defendants¹ & 2 are^jointly and severally^liable to^{pay a} sum of Rs.56,52,602/- towards A/c.^No. CER000807472339 and CER000807472467 and the defendants 1 & 3 are^jointlyand severally liable to PaY a sum^of No. Rs.!2,81,292/- towards A/c. AUR113408008443; with future^interest @110/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 vehicles described^{in the} schedule annexed to the OA and^the /7fw..'u (-(/^-b*-

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oA.NO.115/202s

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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 06th Day of February ,2026).

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ESHWAR KOTHE) PRESIDING OFFICER

The Axis Bank Ltd. v. M/s. Krithika Infra Developers.

Case brief

What is this about?

What did the court decide?

The Axis Bank Ltd. v. M/s. Krithika Infra Developers.

Case brief

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What did the court decide?

What the court decided

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