Allowed

The Axis Bank Ltd. v. Mr. Mekala Pedha Niranjan

DRT28 Aug 2026OA/696/2026

Case brief

AI extract

What is this about?

In an ex-parte recovery application under the DRT Act, the Presiding Officer held the defendants jointly and severally liable to pay the claimed debt with future interest and costs due to their default, and allowed the proceedings against hypothecated assets.

What did the court decide?

Defendants jointly and severally liable to pay Rs.28,09,593/- with future interest; recovery from hypothecated assets; recovery certificate issued; costs granted.

The Axis Bank Ltd. versus Mr. Mekala Pedha Niranjan — Banking and Recovery | DRT (2026)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDEMBAD DATED THIS THE 28TH DAY OF AUGUST, 2026

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

¶3

ORIGINAL APPLTCATION No: 696 OF 2026

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The Axis Bank Ltd., Having it Office at 5-4-183 /784, 3td Ftoor R P Road, Secunderabad _ 5OOOO3. Rep. by its Authorized Signatory.

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... ..Applica nt.

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Versus

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lvlr. Mekala^pedha Niranjan, S/o. Laxmaiah Aged about 50 years, Occ: Business R/o. H.No.2-6011, yadhireddy pa e, Near Pchamma Tempte, Mahabubnaga. district_509209.

¶8

Mrs. Mekala Nagamma, W/o. pedha Niranajan, Aged about 45 years

¶9

Occ: Housewife, R/o. H.No.2-60l1, yadhireddy lgllet le_1r-lchamma^{Tempte, Mahabubnagar} District- 509 2 09.

¶10

...Defendants

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Counsel for the Applicant Mr. M. Srinivas Reddy

Defendants

Ex- parte

:: oRDER ::

The Applicant Bank filed the present OA for the recovery a total sum of Rs.28,09,593/- frcm the defendants jointly and severally with future interest @1go/o p.a. compounded quarterly from the date of application till the date of realization along with costs and in default for sale of hypothecated assets.

¶16

Summons served on D1 and 2. They were set ex-parte on 18.08.2026 as ca ed absent and no representationfiffi

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oA.NO.696/2026

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¶19

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. 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 Applicant Bank is entitled} for the claim^{madein the oA against} the Defendants^{and OA hypothecated} assets?

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As^{stated supra, the Defendants remained ex-parte The} Evidence Affidavit^{coupledwith the recltalsin the documents} viz., Exs. A.1 to^{A.O8 marked on behalf of the ApplicantBank} clinches the^{claim of the Applicant Bank against the Defendants'} Hence, I hold that^{the Defendantsare jointly and severallyliable} to^pay the^{OA claim to the Applicant Bank with future interest} and costs.

¶24

In the result,^{the present Original APplicationNo'696/2026 is} allowed as^{under: -}

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i) The Defendants are^{jointly and severally} liable to^pay to the^{Applicant Banka sum of} Rs.28,09,593/- with^{future interest @13Vo} p.a. simPle on Rs.21,25,200/-^{principle from} the date of applicatlon till^{the date of} rearization; ,V):1*U(.,,

¶26

oA.NO.695/2026

¶27

¶28

ii) the OA claim is secured by way of

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hypothecation of assets described in the

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schedule annexed to the OA and the applicant bank is entitled to proceed against the same to realise its debU

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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 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 August, 2026).

¶36

(RAMESHWAR KOTHE) PRESIDING OFFICER

The Axis Bank Ltd. v. Mr. Mekala Pedha Niranjan

Case brief

What is this about?

What did the court decide?

The Axis Bank Ltd. v. Mr. Mekala Pedha Niranjan

Case brief

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What did the court decide?

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