Debt Recovery Tribunal member disposed of Original Application No. 03 of 2024 between Axis Bank Limited and Coffee Day enterprises after parties settled the claim via a joint memo.
The original application stands disposed of as settled between the parties by an interim order dated 06.05.2026.
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 –I AT CHENNAI PRESENT: SHRI A.S. JAYACHANDRA
Presiding Officer
Dated this 6th Day of May, 2026
O.A. No.03 of 2024
1. AXIS BANK LIMITED (ERSTWHILE UTI BANK LTD),
Having register Office at ‘Trishul’,III Floor, Ellis Bridge, Opp. Samartheshwar Temple, Near Law Garden, Ahmadabad – 380 006.
Having its Corporate Branch at Nitesh Time Square, Level -3, No. 8, Mahatma Gandhi Street, Bangalore – 560 001.
… Applicant
Versus
1. COFFEE DAY ENTERPRISES LIMITED
Having its Registered office at No. 23/2, Coffee Day Square, Vittal Mallya Road, Bengaluru – 560 001.
2. COFFEE DAY GLOBAL LIMITED
K.M.Road,Chikmagalur,
Karnataka – 577 101.
3. TANGLIN RETAIL REALITY DEVELOPMENT PRIVATE LIMITED,
No.23/2, Coffee Day Square, VittalMallya Road, Bengaluru – 560 001.
4. Ms. MALAVIKA SIDDHARTH HEGDE,
LR and W/o Mr. Veerappa Hegde Gangaiah Hegde Siddharatha No.143, 5th Cross, RMV Extension, Sadashiva Nagar, Bengalore – 560 080.
5. Mr. AMARTHYA SIDDHARTH HEGDE,
LR and S/o Mr. Veerappa Hegde Gangaiah Hegde Siddharatha No.143, 5th Cross,
RMV Extension, Sadashiva Nagar, Bengalore – 560 080.
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6. Mr. ISHAAN SIDDHARTH HEGDE,
LR and S/o Mr. Veerappa Hegde Gangaiah Hegde Siddharatha No.143, 5th Cross, RMV Extension,
Sadashiva Nagar, Bengalore – 560 080.
7. TANGLIN DEVELOPMENT LIMITED (TDL)
No.32/2, Coffee Day Square, Vittal Mallya Road, Bengaluru – 560 001.
…Defendants
ORDER IN PROCEEDINGS DATED- 06.05.2026
Applicant bank by Shri. Srinivasan, Adv.
None for the defendants.
Heard.
File taken up today upon mentioning made by Shri. Srinivasan, Adv.
The applicant has filed an affidavit dated 06.04.2026 stating that the OA was filed for recovery of a sum of Rs. 117,79,20,100.65p. The defendants have approached the applicant bank and settled the matter at Rs. 70 crores towards full and final settlement under OTS.
It is also found from the memo of compromise filed today that the entire agreed amount is paid under four tranches as mentioned in para no.3 of the compromise memo. It is also affirmed by the bank that the entire liability of the defendants arising out of the cause of action pleaded in the OA stands settled and discharged. The memo is also signed by the defendants and their counsel on record
In view of full satisfaction of the OA claim, the OA stands disposed of by the following:
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ORDER
OA stands disposed of as settled between the parties in terms of the joint memo dated 06.04.2026 as above.
The court fee may be refunded to the extent as provided under the Rules.
A copy of this order be communicated to all the parties concerned.
The date assigned as 11.06.2026 stands cancelled.
Sd/-
(A.S.JAYACHANDRA) PRESIDING OFFICER DRT-I, CHENNAI
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AXIS BANK LIMITED
COFFEE DAY ENTERPRISES LIMITED
COFFEE DAY GLOBAL LIMITED
TANGLIN RETAIL REALITY DEVELOPMENT PRIVATE LIMITED
MALAVIKA SIDDHARTH HEGDE
AMARTHYA SIDDHARTH HEGDE
A.S. JAYACHANDRA
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
