Allowed

The Axis Bank Ltd., v. M/s. Vijay Enterprises.

DRT25 Aug 2026OA/590/2026

Case brief

AI extract

What is this about?

In DRAT Hyderabad, the bench allowed an Original Application filed by Axis Bank Ltd. for recovery of debt and sale of hypothecated assets from the defendants, who remained in default. The court held the claim supported by evidence due to ex-parte absence.

What did the court decide?

Recovery of Rs.82,96,015/- with future interest, costs, and entitlement to proceed against hypothecated assets and defendants' properties.

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

¶1

IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDEMBAD DATED THIS THE 25TH DAY OF AUGUST, 2026

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

¶3

ORIGINAL APPLICATION No: 590 OF 2026

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The Axis Bank Ltd., Having it Office at 5-4-1831L84, 3d Floot 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. Vijay Enterprises., Rep by its Proprietor, Mr. Katravath Vijay, Office at 8-45, Kummera Thanda VTC Kummera, Mahabubnagar District-509215.

¶8

Mr. Katravath VUay, S/o. Katravath Narxa, Aged about 27 Years, Occ: Business Office at 8-45, Kummera Thanda, VTC Kummera, Mahabubnagar District-509215.

¶9

Mr. Sabavath Sirisha, W/o. K Vijay Aged about 24 Years, Occ: Business 8-45, Kummera Thanda, \rrc Kummera Mahabubnagar District-509215.

¶10

...Defendants

¶11

Counsel for the Applicant : Mr. M. Srinivas Reddy

Defendants

: Ex-parte

::^qLLE& ::

The Applicant Bank filed the present OA for the recovery a total sum of Rs.82,96,015/- from the defendants joinuy and severally with future interest @180/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. /)fre",,x-l\ (-!,' }2' '

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oA.NO.590/2026

¶17

¶18

Summons served on D1 to 3. They were set ex-parte^on 18.08.2026 as called absent and no representation.

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The Applicant Bank examined Syed Shafiuddin, Senior Manager, as AW-1 and marked 09 documents through him as Ex. A.1 to Ex. A.09.

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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 assets ?

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As stated supra, the Defendants remained ex-parte. The Evidence Amdavit coupled with the recitals in the documents viz., Exs. A.1 to A.09 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.590/2026 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.82,96,015/- with future interest @10.3070 p.a. simple on Rs.68,43?i1l- principle from ffi'a'r"

oa.No.s90l2025

the date of application till the date of realization;

¶30

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; 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 according ly.

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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 25rh Day ofAugust, 2026).

¶35

(RAMESHWAR KOTHE) PRESIDING OFFICER

The Axis Bank Ltd., v. M/s. Vijay Enterprises.

Case brief

What is this about?

What did the court decide?

The Axis Bank Ltd., v. M/s. Vijay Enterprises.

Case brief

What is this about?

What did the court decide?

What the court decided

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