Allowed

The Axis Bank Ltd. v. M/s. Laxmi Balaji Marketing.

DRT9 Feb 2026OA/519/2025

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the Axis Bank's Original Application for recovery of a debt of Rs. 29,45,517 along with interest and costs. The Tribunal held the defendants jointly and severally liable and secured the claim via a hypothecated vehicle.

What did the court decide?

Defendants jointly and severally liable to pay Rs. 29,45,517 with interest; claim secured by hypothecated vehicle; recovery certificate to be issued.

The Axis Bank Ltd. versus M/s. Laxmi Balaji Marketing. — Banking and Recovery | DRT (2026)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD

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DATED THIS THE O9TH DAY OF FEBRUARY, 2026

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

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ORIGINAL APPLICATION No: 519 OF 2025

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The Axis Bank Ltd., Having it Office at 5-4-1831184,3td Floor R P Road, Secunderabad - 500003. Rep. by its Authorized Signatory.

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.....Applica nt.

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Versus

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M/s. Laxmi Balaji Marketing., Rep by its Proprietor, Mr.V. Subrama nya m Office at 2-46/7,Induru Kalanja ti Hasmathpet, Old Bowenpally Secunderabad - 500011.

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Also at:-

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C/o. Plot No.19, Sri Motani Cotony Opp Warangal Rice Stores, Bapuji Nagar Tirumalagiri, Hyderabad - 5OOO11.

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Mr. Vanjivaka Subramanyam S/o. Subramanyam, Aged about 50 years Occ: Business, R/o.^plot No.19, Sri Molani Colony, Opp Warangal Rice Stores, Bapuji Nagar, Tirumalagiri, Hyderabad - 500011.

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Mrs. Vanjivaka Samrajyam Wo.^Subramanyam, Aged Major Occ: Self Employed, R/o.^plot No.19, Sri Motani Colony, Opp Warangal Rice Stores, Bapuji Nagar, Tirumalagiri, Hyderabad - 500011.

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Also at:-

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R/o. Sy.No.49 & b 52, Otd Bowenapa y secundera bad - uooo, Ay"rr,

. ,. Defendants

oA.NO.519/202s

Counsel for the Applicant

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: Mr. M. Srinivas Reddy

Defendants

:Ex-parte

::^qLLL& ::

The Applicant Bank filed the^present OA for the recovery a total sum of Rs.29,45,517l- from the defendants^{jointly 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 vehicle.}

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Summons served on^D1 to 3 through^{paper publication.They} were set ex-parte on 08.10.2025 as^{called absentand 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.1 to} Ex. A.08.

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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 and oA^hypothecated vehicle?

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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.08 marked on^behalf of^{the Applicant Bank} clinches the claim of the^{Applicant Bank against the Defendants.} , Tn-.,rr$ ,' / 'o''"

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oA.NO.s19l2025

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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 Originat Application No.519/2025 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.29,45,5t7/- with future interest @8.52olo 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 vehicle described in the schedule annexed to the OA and the applicant bank is entiued to proceed against the same to realise its debU

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iii) the applicant bank is also entifled to proceed against the person and properties of defendants for realization of its dues;

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iv) the applicant bank is entiued for the costs.

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The Applicant Bank is directed to file Cost Memo with in 2 weeks from the date of receipt of this Order.

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Issue Recovery Certificate according ly.

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oA.NO.s191202s

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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 09th Day of February, 2025).

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aM*

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(RXuesHwen KorHE) PRESIDING OFFICER

The Axis Bank Ltd. v. M/s. Laxmi Balaji Marketing.

Case brief

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The Axis Bank Ltd. v. M/s. Laxmi Balaji Marketing.

Case brief

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