Allowed

The Axis Bank Ltd. v. M/s. S S Sigma Infra.

DRT7 Jul 2026OA/627/2025

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed the applicant bank's original application for recovery of Rs.32.56 lakhs with interest against defendants who remained ex-parte. Court declared defendants jointly and severally liable and enforced hypothecated vehicle.

What did the court decide?

Defendants directed to pay Rs.32.56 lakhs with interest; bank entitled to proceed against hypothecated vehicle and other properties for realization of dues.

The Axis Bank Ltd. versus M/s. S S Sigma Infra. — Banking and Recovery | DRT (2026)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD DATED THIS THE OTTH DAY OF JULY, 2026 PRESENT: SH. RAMESHWAR KOTHE, B.Com., L.LB. (Hons.), tvl.A. PRESIDING OFFiCER

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ORIGINAL APPLICATION No: 627 oF 2025

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The Axis Bank Ltd., I1v[r9^{it Officeat 5-4-183/184,3.d Ftos;-} R P Road, Secunderabad _ 5OOOO3. Rep. by its Authorized Signatory.

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.....Applicant.

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Versus

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M/s. S S Sigma Infra., Rep by its^partner, Mrs.p.Taraka Naga Lakshmi Devi, Office at Ftat No-102, lst Floor, plot No.47, Vijaya Sai Residency, Sardar patel Nagii N.ear.Nizampet X Roads, Kukatfially Medchat Matkajgiri _ 500049.

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Mrs.^p. Tarak Naga Lakshmi Devi W/o. Srinivas, Aged about 53 years Occ: Business, R/o. Flat No.106, Hari Villu Apts/ Road No.5, pJR Enclave, Madhavapuri Hills, Chandanagar, Seritingampalty, Medchal Malkajgiri District _ 50OO5O.

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Also at: -

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Nehru Nagar/ Gosaninva Gain, Brahmapur Sadar canjam, Odisha - 760003. ... Defendants

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

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The Applicant Bank filed the present OA for the recovery a total sum of Rs.32,56,630/- frcm the_defendants joinuy and , ,l\e<,-,.rr /r I ./ /0.1.!^/

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oA.NO.627l2025

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severally^{with future interest @187o p'awith quarterly} interests from^{the date of application till the date of reallzation} along^{withcosts and in default for sale of hypothecated vehicle'}

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Summons^{servedon D1 and 2 through paperpublication' They} were set ex-parte^{on t7.03'2026as calledabsent and no} representation.

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The Applicant^{Bank examlned Syed Shafiuddin, Senior Manager'} as AW-1^{and marked 07 documents through him as Ex' A'1 to} Ex. A.07.

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Heard the Ld.^{Counselfor 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^{AppticantBank is entitled} for the claim^{madein the OA against} the Defendants^{and OA hypothecated} vehicle?

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As stated supra,^{the Defendantsremained ex-parteThe} Evidence Affidavit^{coupled with the recitals in the documents} viz., Exs. A.1 to^{A.O7 marked on behalf of the ApplicantBank} clinches the^{claim of the Applicant Bank against the Defendants'} Hence, I hold that^{the Defendants are jointly and severallyliable} to^pay the OA^{claim to the Applicant Bankwith future interest} and costs.

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In the result, the^{present origlnalApP$f€tion No.62712O25is} attowed as under: - CW',)'t\

oa.No.627 /2O2s

i) The Defendants are jointly and severally liable to pay to the Applicant Bank a sum of Rs.32,56,630/- with future interest @9.100/0 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 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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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 olh Day ofJuly,2025).

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./Aw--^oy1 // /^^{..-(n.tt )'F}

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(RAhTfSHWAR KOTHE) PRESIDING OFFICER

The Axis Bank Ltd. v. M/s. S S Sigma Infra.

Case brief

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The Axis Bank Ltd. v. M/s. S S Sigma Infra.

Case brief

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