Allowed

The Axis Bank Ltd. v. Balusu Veera Satya Adilakshmi

DRT8 Jul 2026OA/207/2026

Case brief

AI extract

What is this about?

The applicant bank filed an original application for recovery of Rs.24,72,966 with interest and security via hypothecated vehicle. The respondent appeared ex-parte. The court examined documents, held the bank's claim established, and allowed the application granting recovery relief and issuance of recovery certificate.

What did the court decide?

Defendant shall pay Rs.24,72,966 with interest; OA secured by hypothecated vehicle; applicant entitled to costs and Recovery Certificate issued.

The Axis Bank Ltd. versus Balusu Veera Satya Adilakshmi — Banking and Recovery | DRT (2026)

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IN THE DEBTS RECOVERY TRIBUNAL.II AT HYDEMBAD DATED THIS THE OS-rH DAY OF JULY, 2026 PRESENT: SH. RAMESHWAR KOTHE, B.COM., L.LB. (HONS.), M.A. PRESIDING OFFICER

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ORIGINAL APPLICATIoN No: 207 oF 2026

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The Axis Bank Ltd., Having it office at 5-4-183/184, 3d Ftoor R P Road, Secunderabad - 5OOOO3. Rep. by its Authorized Signatory.

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.. ...Applica nt.

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Versus

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Balusu Veera Satya Adilakshmi, W. Balusu Sai Krishna, Aged about 35 years Occ: Private Employee, R/o. Flat No.3O1 3'd.Floor, Plot No.106, Shakthi Sai Nagar Mallapur, Hyderabad - 500076.

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Also at: -

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6-72, Malapilli Veedhi, Kattamuru Near Ramalayam, pedda pu ra m - 53 343 7.

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...Defendant

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Cou nsel for the Applicant : Mr. M. Srinivas Reddy

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Defendant : Ex-parte

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:: ORDER ::

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The Applicant Bank filed the present OA for the recovery a total sum of Rs.24,72,966/- frcm the defendant with future interest @18o/o^p.a. compounded with monthly rests from 20.lZ.2OZs till the date of realization along with costs and in default for sa le of hypothecated vehicle.

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Summon served on sole defendant through paper publication and was set ex-parte o^ 0L07.2026 as called absent and no representation. CY^.** o^s'v

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oa.No.2o712026

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The Applicant Bank examined Syed Shafiuddin, Senior Manager. as AW-1 and marked 08 documents through him as Ex.A.l to Ex.A.08.

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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 Defendant and OA hypothecated vehicle?

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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.08 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendant. Hence, I hotd that the Defendant is liabte to pay the oA claim to the Applicant Bank with future interest and costs.

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In the result, the present Originat Application No.2O7 /2026 is allowed as under: -

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i) The Defendant is liabte to pay to the Applicant Bank a sum of Rs,24,72,966/- with future interest @9.99% 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 vehicle described in the schedule annexed to the OA and the ffi-,.,u

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oa.NO.2O7 /2026

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applicant bank is the same ," ."",,r""[,::1,:o

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proceed aeainst

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iii) the appticant bank asainst the r";.:'r"-:;tT:*"fl:.":: defendants for realization of its dues;

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iv) the applicant bank is entiued for the costs.

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The Applicant Bank is directed to fite Cost Memo within 2 weeks from the date of receipt of this Order.

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Issue Recovery Certificate according ly.

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Communicate a copy oF this order to the parties concerned. 13]:11,":^T I"^{,,a.."o corrected,signedand p.onorn."A ry ," i9_1r1.0"" i"ru} "" this the 08rh Day ofJuty, 2026).

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PRESIDING OFFICER

The Axis Bank Ltd. v. Balusu Veera Satya Adilakshmi

Case brief

What is this about?

What did the court decide?

The Axis Bank Ltd. v. Balusu Veera Satya Adilakshmi

Case brief

What is this about?

What did the court decide?

What the court decided

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