Allowed

The Axis Bank Ltd., v. M/s. Thirupathi Reddy.

DRT19 Jan 2026OA/5/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the Applicant Bank's Original Application for recovery of Rs.22,50,279.21plus interest and costs from Defendants jointly and severally liable, treating the hypothecated assets as security for the debt.

What did the court decide?

Defendants jointly and severally liable to pay claim of Rs.22,50,279.21plus 2.75% p.a. interest; bank entitled to proceed against hypothecated assets, persons and properties for realization; costs awa

The Axis Bank Ltd., versus M/s. Thirupathi Reddy. — Contract and Commercial Disputes | DRT (2026)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD

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DATED THIS THE 19TH DAY OF JANUARY, 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: 05 OF 2024

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The Axis Bank Ltd., Having its Office at 5-4-183/184 3'd Floor, R P Road, Secunderabad - 500003. Rep. by its Authorised Signatory.

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.....Applica nt.

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Versus

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M/s. ihirupathi Reddy., Rep by its Proprietor Mr.Singireddy Thirupathi Reddy, Office at 3-L25189/35 Shivapuri Colony, Boduppal, Medchal Malkajgiri, Hyderabad District - 500092.

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Mr. Singireddy Thirupath Reddy S/o. Ranga Reddy, Aged about 52 Years Occ: Proprietor of M/s. Thirupathi Reddy H.No. 3-125/89/35, Shivapuri Colony Boduppal, Medchal, Malkajgiri Hyderabad District - 500092. . . . Defendants

¶10

Counsel for the Applicant : M/s. M, Srinivas Reddy

Defendants

: Ex-parte

:: :: [([ff,

The Applicant Bank filed the present OA for the recovery a total sum of Rs.22,50,279.21ps from the defendants^jointly and severally with future interest @18% p.a. from 22.11.2023 ttl the date of realization alonq with costs and in default for sale of hypothecated assets. Uf'*

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oA.NO.05/2024

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Summons sent to D1 and 2 returned with endorsement refused hence, deemed to be served. They were set ex-parte on Ol.OA.2024 as called absent and no representation.

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The Applicant Bank examined Syed Shafiuddin, Legal 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 entitled for the claim made in the OA against the Defendants and OA hypothecated assets ?

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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.06 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 Apptication Nolo5/2024 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.22,50,279.21ps with futu(e interest 0w^"

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oA.NO.0s/2024

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@t2.75o/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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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 19th Day ofJanuary, 2026).

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"tx**,-y1

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(RAMESHWXY{ KOTHE) PRESIDING OFFICER

The Axis Bank Ltd., v. M/s. Thirupathi Reddy.

Case brief

What is this about?

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The Axis Bank Ltd., v. M/s. Thirupathi Reddy.

Case brief

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