Allowed

The Axis Bank Ltd. v. Syed Akbar

DRT8 Jul 2026OA/208/2026

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed the bank's application for recovery of dues. Being absent, the respondent was ex-parte. The court held the bank entitled to the claimed sum along with interest and costs, permitting enforcement against hypothecated vehicle and other properties.

What did the court decide?

Respondent directed to pay Rs.34,87,226/- with interest; Bank entitled to proceed against hypothecated vehicle and properties for dues realization; Costs awarded to Bank.

The Axis Bank Ltd. versus Syed Akbar — Banking and Recovery | DRT (2026)

¶1

IN THE DEBTS RECOVERY TRIBUNAL.I] AT HYDERABAD DATED THIS THE OSTH DAY OF ]ULY, 2026

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

¶3

ORIGINAL APPLICATIoN No: 208 oF 2026

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The Axis Bank Ltd., Having it office at 5-4-183/784,3d Ftoor R P Road, Secunderabad - 500003. Rep. by its Authorized Signatory.

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.....Applicant.

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Versus

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Syed Akbar, S/o. Syed^yakub Ati Aged about 47 Yeas, Occ: Business R/o. Flat No.205, Palm Springs^phase 1 Kompalle, Medcha I Malkajgiri Dist-500014.

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Also at:-

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C/o. Essasy Properties Global^private Ltd., 3rd Floor, Lumbini Jewel Mall, Near H P Petrol Bunk, Road No.2, Banjara Hills Hyderabad - 500034.

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... Defenda nt

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Counsel for the Applicant : Mr. M. Srinivas Reddy Defendant : Ex-parteEx-parte

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: Ex-parteEx-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.34,87,226/- frcm the defendant with future interest @18o/o^p.a. compounded with monthly rests from 2O.l2.2OZs till the date of realization along with costs and in default for sale of hypothecated vehicte.^t'y ''15-"{$

¶15

oA,NO.208/2026

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Summon^{servedon sole} defendant through^{paper publication} and was set^ex-Parteon 07.07.2026^{as called absent and no} representation.

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

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Heard the Ld.^{Counselfor the} Applicant Bank.^Perusedthe material Placed^{on record.}

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The^point that^{arises for considerationis:-}

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whether the Applicant^{Bank is entitled} for the claim made in^{the OA against} the Defendant and^{OA hY7othecated} vehicle?

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As stated supra,^{the Defendant remainedex-parte'The} Evldence Affidavit coupled^{with the recitals in the documents} viz., Exs.A.1 to^{A.O8 marked on behalfof the ApplicantBank} clinches the^{claimof the Applicant Bank againstthe Defendant'} Hence, I hold that the^{Defendant is liable to pay the oA claimto} the Applicant^{Bank with futureinterest and costs.}

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In the result, the^{present Original Application No.208/2026is} allowed as under:^-

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i) The Defendant is liable to^{pay tothe} Applicant Bank a sum of^{Rs.34,87,226l- with} future interest @14.600/o^{p.a' slmple from the} date of application till^{the date of realization;} ffi*

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oA.NO.208/2026

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¶26

ii) the OA claim is secured by way of hypothecation of vehicle 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; 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 according ly.

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Communicate a copy of this order to the pafties concerned. (Dictated to the steno, corrected, signed and pronounced by me in the open court on this the 08th Day of July, 2026).

¶31

K''>\ (RAMESHWAR KOTHE) PRESIDING OFFICER

The Axis Bank Ltd. v. Syed Akbar

Case brief

What is this about?

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The Axis Bank Ltd. v. Syed Akbar

Case brief

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