Allowed

Axis Bank Ltd. v. Om Sri Shyam Medicals.

DRT7 Aug 2026OA/226/2025

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an original application filed by Axis Bank Ltd. against two respondents for recovery of Rs. 20,34,505.94 plus future interest. The court found the defendants jointly and severally liable based on unchallenged evidence.

What did the court decide?

Direction to pay Rs. 20,34,505.94 with 12% simple interest; entitlement to proceed against hypothecated assets, personal properties, and recovery certificate issued.

Axis Bank Ltd. versus Om Sri Shyam Medicals. — Execution and Attachment | DRT (2026)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD

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DATED THIS THE OTTH DAY OF AUGUST, 2026

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PRESENT: SH. RAMESHWAR KOTHE, B.Com., L.LB. (Hons.), M.A. PRESIDING OFFlCER

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ORIGINAL APPLICATION No: 226 OF 2025

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Axis Bank Ltd.,

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5-2-7831784, Modi Square, III 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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Om Sri Shyam Medicals., Rep by its Proprietor Mrs. Babita Goel D No. 3-4-808/4, Barkatpura, Beside CC ShroFf Hospital, Hyderabad - 500027.

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Ivlrs. Babita Goel, W/o. Shyam Sunder Goel, D.No.3-4-133l1, Flat No. 103 Royal lvlanor Appartments, Himayatnagar Kachiguda Station, Hyderabad - 500027.

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. .. Defenda nts

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: I4/s. Lotus Law Associates Counsel for the Applicant

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Defendants : 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.20,34,505.94ps from the defendants^{jointly and} severally with future interest @149o^{p.a. compoundedwith} monthly rests from the date of application^{till the date of} realization along with costs and in dSfault for^{sale of} hypothecared assets. ,^,/'su1'rb

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oA.NO.Z25l2OZ5

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Summons served on D1 and was set ex-parte on 01.09.2025 as called absent and no representation. Summons served on D2 through paper publication and was set ex-parte on 18.11.2025 as called absent and no representation.

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The Applicant Bank examined Syed Shafiuddin, Legal Manager, as AW-1 and marked 10 documents through him as Ex. A.1 to Ex. A.10.

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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 conslderation 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.10 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 Application No.22612025 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.20,3(,505.94ps with future interest " Ow*o

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oA.NO.226l2025

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@L2o/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 entifled 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 07th Day of August, 2026).

¶34

OY*" (RAMESHWAR KOTHE) PRESIDING OFFICER

Axis Bank Ltd. v. Om Sri Shyam Medicals.

Case brief

What is this about?

What did the court decide?

Axis Bank Ltd. v. Om Sri Shyam Medicals.

Case brief

What is this about?

What did the court decide?

What the court decided

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