Allowed

Axis Bank Ltd. v. Citizenplus Pharmaceuticals Private Limited.

DRT23 Mar 2026OA/212/2025

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed the bank's application for recovery of Rs.27.61 lakh from three defendants who did not appear. The court held defendants jointly and severally liable based on the bank's evidence and granted interest and costs.

What did the court decide?

Defendants liable to pay Rs.27,61,810/- with 14.5% interest and costs; Recovery Certificate issued.

Axis Bank Ltd. versus Citizenplus Pharmaceuticals… — Contract and Commercial Disputes | DRT (2026)

¶1

, IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD DATED THIS THE 23RD DAY OF I4ARCH, 2026

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PRESENT: SH. RAIVIESHWAR KOTHE, B.Com., L.LB. (Hons.), 14.A. PRESIDlNG OFFICER

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Original Application No: 212 OF 2025

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Axis Bank Ltd., 5-2-t831t84, Modi Square, Iil 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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Citizenplus Pharmaceuticals Private

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Limited., Rep by its Director

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Mr. Sreehari Kumar Annamraju

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R/o.4th Floor, FF 5, Empire Square Road No.36, Jubilee Hill, Hyderabad

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Tela ngana - 500033.

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Mr. Sreehari Kumar Annamraju

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S/o. Mr Gopala Rao Annamraju Age 48 Years, Occ: Business, Plot No.1/A

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Block 8, Phase 1, TSIIC Pashamailaram

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Patancheru, N4edak, Hyderabad

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Telangana - 502307 .

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Also at:-

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lvlr. Sreehari Kumar Annamraju S/o. f4r Gopala Rao Annamraju

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Age 48 Years, Occ: Business, Flat No.107 And 108, 7-7-230/76,316, ASR Vasudha

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Apartments, Vivek Na9ar, Chikkad palli

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Himayathnagar, Hyderabad, Telangana-500029.

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Venkataradha Krishna Kishore Annamraju S/o. Mr Gopala Rao Annamraju Age 48 Years, Occ: Business, R/o.77-9/4/86/tO Perzadiguda, Hyderabad - 500034. /^* ......Derendants //)'.<s Ll #"',

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oA.No.z!2l2oi5

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Defendants

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Counsel for the Applicant

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: M/s. Lotus Law Associates

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:Ex-parte

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:: ORDER::

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The Applicant Bank filed the^present OA for the recovery of a sum of Rs.27,61,810 /- from the defendants^jointly and severally with future interest @14.50o/o p.a. compounded with monthly rests from the date of application till the date of realisation along with costs.

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Summons served on D1 to 3 through^{paper publication. They were} set ex-parte on 09.10.2025 as called absent and no representation.

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The Applicant Bank examined Syed Shafiuddin,^DeputySenior Manager as AW-l and marked 06 documents through^{him as Ex.} A.1 to Ex. 4.06.

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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?

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As stated supra, the Defendants^{remained ex-parte. The Evidence} Affidavit coupled with the^{recitals in the documentsviz., Exs. A. 1to} 4.06 marked on behalf of the^{Applicant Bank cllnches 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^interestand costsaT&ll\

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OA.No.2t2l2025

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In the result, the present Original Application No.2t2/2025 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.27,61,810/- with future interest @14.5% p.a. simple, from the date of application till the date of realization;

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ii) the applicant bank is also entitled to proceed against the person and properties of the defendant for realization of its dues;

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iii) 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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9" Issue Recovery Certificate accordingly.

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Communicate a copy of this order to the parties concerned. (Dictated to the steno., transcribed by him, corrected, signed and pronounced by me in the open court on this the 23'd day of March, 2026).

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¶46

(RAMESHWAR KOTHE) PRESIDING OFFICER

Axis Bank Ltd. v. Citizenplus Pharmaceuticals Private Limited.

Case brief

What is this about?

What did the court decide?

Axis Bank Ltd. v. Citizenplus Pharmaceuticals Private Limited.

Case brief

What is this about?

What did the court decide?

What the court decided

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Issues for consideration

Statutes considered

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