Allowed

The Axis Bank Ltd. v. M/s. Jaya Shakthi Rail Mech.

DRT28 Jul 2026OA/391/2026

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an original application filed by Axis Bank against several defendants. The court held the defendants jointly and severally liable to pay the claimed amount with future interest, costs, and granted a recovery certificate for the hypothecated assets and properties.

What did the court decide?

Defendants held jointly and severally liable to pay Rs. 31,39,573/- with future interest and costs; Recovery Certificate issued against hypothecated assets and properties.

The Axis Bank Ltd. versus M/s. Jaya Shakthi Rail Mech. — 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 ]ULY, 2026

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PRESENT: SH. RAMESHWAR KOTHE, B.Com., L.LB. (Hons.), 14.A.

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PRESIDING OFFICER

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ORIGINAL APPLICATION No: 391 OF 2026

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The Axis Bank Ltd., Having it Office at 5-4-183/184, 3rd 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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M/s. Jaya Shakthi Rail Mech., Represented by its Managing Partner Mr. Chavvareddy layapraksh Reddy Survey No.452, Padmavathi Naga r Sultanpur, Vidhan Sa bha, Patanchervu Medak Dist - 502319.

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Also at:-

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Flat No. 104, Sai Shivarag Towers( 13) HUDA Trade Centre, Nallagandla, Backside Of Axis Bank, Hyderabad - 500019.

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lvl r. Chavvareddy laya Prakash Reddy S/o. I4ohan Reddy, Aged about 48 Years Occ: Managing Partner of M/s. laya Shakthi Rall Mech, R/o. H.No. Flat No.104, Sai Shivarag Towers( 13), HUDA Trade Centre Nallagandla, Backside Of Axis Bank Hydera bad - 500019.

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Mr. C. Rama Subba Reddy, S/o. Chenna Reddy, Aged about 56 Years, Occ: Business R/o. Flat No.201, Pojitha Residency, Beside Ma hila Chaitanya College, Miyapur Hyderabad - 500019.

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Also at:-

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R/o. PT 362, Bachupally, Hyderabad- 500072. lfrn-t^-.:l

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oA.NO.391/2026

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lvlr. Chavva Bala Gangadhar Reddy S/o. Chenna Reddy, Aged about 59 Years, Occ: Business, R/o.H.No.9/7 Padmavathi Veedhi, Kamalapuram Cuddapa h - 516289.

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Mr. Vennapusa Srinivasula Reddy S/o. Vema Reddy, Aged about 48 Years Occ: Business, R/ o. H.No.8-2-293 / L92/7 2nd Floor, Road No.14, Venkateswara Nagar, Banjara Hills, Hyderabad-500031.

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lYr. Medapa lly Ramakrishna Reddy S/o. Damadhar, Aged about 48 Years Occ: Business, R/o. Plot No.70, TSR Nagar Phase-2, l,leerpet, Saroornagar Mandal Ranga Reddy District - 500097.

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... Defenda nts

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Counsel for the Applica nt

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: Mr. M. Srinivas Reddy

Defendants

: Ex-parte

:: ORDER ::

The Applicant Bank filed the present OA for the recovery a total sum of Rs.31,39,573/- lrcm the defendants joinuy and severally with future interest @18o/o p.a. with quarterly interests from the date of application till the date of realization along with costs and in default for sale of hypothecated assets.

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Summons served on D1 to 6 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 Shafiuddin, Senior Manager, as AW-1 and marked 24 documents through him as Ex. A.1 to Ex. A.24.

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oA.NO.391/2026

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Heard the Ld. Counsel for the Applicant 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.24 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.391/2026 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.3 1,39,573l- with future interest @ 1 3. 15olo 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 i* aeor; 1fur.r5

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oA.NO.391/2026

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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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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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OW"*' (R;AMESHWAR KOTHE) PRESIDING OFFICER

The Axis Bank Ltd. v. M/s. Jaya Shakthi Rail Mech.

Case brief

What is this about?

What did the court decide?

The Axis Bank Ltd. v. M/s. Jaya Shakthi Rail Mech.

Case brief

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