Allowed

The Axis Bank Ltd. v. M/s. Hitha Net India Pvt. Ltd.

DRT28 Jul 2026OA/390/2026

Case brief

AI extract

What is this about?

In an ex-parte original application for recovery of dues, the Debts Recovery Tribunal allowed the bank's claim of Rs. 45,02,084.50 against defendants jointly and severally with interest and costs, and secured the claim via hypothecated assets.

What did the court decide?

Defendants ordered to jointly and severally pay Rs. 45,02,084.50 with future interest at 13% p.a. and costs; bank entitled to proceed against hypothecated assets.

The Axis Bank Ltd. versus M/s. Hitha Net India Pvt. Ltd. — Banking and Recovery | DRT (2026)

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IN THE DEBTS RECOVERY TRIBUNAL.II AT HYDERABAD

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DATED THIS THE 28TH DAY OF JULY, 2026

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

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PRESIDING OFFICER

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ORIGINAL APPLICATION No: 390 OF 2026

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

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Versus

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M/s. Hitha Net India Pvt. Ltd., Rep by its Authorized Signatory Mrs. R. Vijaya Lakshmi, Having its Office At Survey No.18, 2nd Floor, Cyber Hills Hyderabad - 500032.

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Also at:-

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Flat No.103, Vishnuteja Residency Chanikyapuri Colony, Mallpur, Hyderabad-500076.

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Mrs. Ravella Vijaya Lakshmi W/o. Nageswara Rao, Aged about 71 years Occ: Business, C/o. Hitha Net India^pvt. Ltd., Survey No.18, 2nd Floor, Cyber Hills Hyderabad - 500032.

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Mr. Paruchuri Vijaya Bhushana Sai S/o. Tivikrama Rao, Aged about 64 years Occ: Business, R/o. Villa No.15, Villa Greens candipet Main Road, Hyderabad-500075.

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Also at:-

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C/o. Hitha Net India^pvt. Ltd., Survey No.18, 2nd Floor, Cyber Hills Hyderabad - 500032. ...Defendants

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Counsel for the Applicant : Mr. M. Srinivas Reddy Defendants : Ex-parte Nr*

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oA.NO.390/2026

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:: ORDER ::

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The Applicant Bank filed the present OA for the recovery a total sum of Rs.45,02,084.50ps from the defendants jointly and severally with future interest @18olo p.a. compounded with monthly rests from ?8.02-2025 till the date of realizatlon along with costs and in default for sale of hypothecated assets.

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Summons served on D1 to 3 through paper publication. They were set ex-parte on 27.07.2026 as called absent and no representation.

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The Applicant Bank examined Syed Shafiuddln, Senior Manager, as AW-1 and marked 12 documents through him as Ex. A.1 to Ex. A.12.

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Heard the Ld. Counsel for the Appllcant Bank. Perused the materia I 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.12 marked on behalf of the^{ApplicantBank} clinches the claim of the Applicant^{Bank against} the^Defendants. Hence, I hold that the Defendants are^{jointlyand severallyliable} to^pay the OA claim to the^{Applicant Bank yrilh futur-einterest} and costs. /Y.*i

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oA.NO.390/2026

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In the result, the^present Original Application No.390/2026 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.45,02,084.50ps with future interest @13olo^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 deb!

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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 28th Day of July, 2026).

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PRESIDING OFFICER

The Axis Bank Ltd. v. M/s. Hitha Net India Pvt. Ltd.

Case brief

What is this about?

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The Axis Bank Ltd. v. M/s. Hitha Net India Pvt. Ltd.

Case brief

What is this about?

What did the court decide?

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