Allowed

The Axis Bank Ltd. v. M/s. Radhika Enterprises

DRT24 Feb 2026OA/529/2025

Case brief

AI extract

What is this about?

A Debt Recovery Tribunal allowed an original application filed by Axis Bank Ltd. for the recovery of Rs. 42,57,968/- with interest. The tribunal held that the defendants were liable to pay the claim as the defendants remained ex-parte.

What did the court decide?

Defendants directed to jointly and severally pay Rs. 42,57,968/- with future interest at 18.56% p.a.; issue Recovery Certificate; indemnify costs.

The Axis Bank Ltd. versus M/s. Radhika Enterprises — Banking and Recovery | DRT (2026)

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IN THE DEBTS RECOVERY TRIBUNAL.II^{AT HYDERABAD} DATED THIS THE 24th 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: 529 OF²⁴²⁵

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The Axis Bank Ltd, # 5-4-tB3/184, 3rd Floor R. P. Road Secunderabad^- 500 003 Represented by its authorised signatory Mr. Syed Shafiuddin S/o. S Maqbool Ahmed Age about 40 Years, Occ: Senior Manager^{- Legal} Axis Bank Ltd., R/o. Secunderabad.

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......Applicant.

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Versus

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M/s. Radhika EnterPrises Rep. by its Proprietor, Mr. Ramesh^Goud Having its Office at: H No 10-5,^{Balaji Nagar,} Bollaram Road, Jinnaram Mandal Sangareddy - 502325

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Mr. Poolapally Ramesh Goud S/o.^{Laxma Goud} Aged about 48^years, Occ:^{ProP. of} M/s. Radhika Enterprises R/o. H No 10-5, Balaji Nagar,^{Bollaram Road,} Jinnaram Mandal, Sangareddy^{- 502325}

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Mr. Poolapally Lakshmi^{W/o. P RameshGoud} Aged about 37^years, Occ:^Housewife R/o. H No 10-5, Balaji Nagar,^{Bollaram Road,} Jinnaram Mandal, Sangareddy^{- 502325}

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...Defendants

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: Mr. M. Srinivas Reddy Counsel for the Applicant Counsel for the Defendants^{: Ex-parte} N"x

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oA.NO.s2912025

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:: ORDER ::

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The Applicant Bank filed the present OA forthe recovery a total sum of Rs. 42,57,968/- with future interest @ 18 % p.a. with monthly rests from 06.02.2025 till the date of realisation and, in default, sale of OA hypothecated assets.

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Summon served on defendants and were set ex-parte on 15.10.2025 as called absent and no representation.

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The Applicant Bank examined Mr. Mr. Syed Shafiuddin, Senior Manager, as AW-1 and marked 9 documents through him as Ex.A.1 to Ex.A.9.

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Heard the ex-parte argument from the Ld. Counsel of the applicant. Perused the material placed on record.

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The point that arises for consideration is: -

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Whether the Appticant Bank is entitted for the claim made in the aA 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.9 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendants. Hence, I hold that the Defendants are Iiable to pay the OA claim to the Applicant Bank with future interest and costs.

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In the result, the present Original Applicalion No.529/2025 is alowed as under: - (fu5"r5

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oA.NO.529/2025

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i) The Defendants are jointly and severally liable to pay to the Applicant Bank a sum of Rs. 42,57,968/- with future interest @ tt.46o/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 is entitled to proceed against the same to realise its debts under respective accou nts;

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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 Cetificate accordingly.

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Communicate a copy of this order to the pafties concerned.

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(Dictated to the steno, corrected, signed and pronounced by me in the open court on this the 24h Day of February, 2026)

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(RAMESHWAR KOTHE) PRESIDING OFFICER

The Axis Bank Ltd. v. M/s. Radhika Enterprises

Case brief

What is this about?

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The Axis Bank Ltd. v. M/s. Radhika Enterprises

Case brief

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