Allowed

The Axis Bank Ltd. v. M/s. Madur Gas Agency.

DRT9 Feb 2026OA/713/2025

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal adjudicated an original application filed by Axis Bank for recovery of dues from gas agency partners. Finding the defendants absent and evidence prima facie sufficient, the Tribunal held them liable and allowed the application.

What did the court decide?

Defendants directed to pay Rs. 1.13 crore with interest; bank entitled to realize against hypothecated assets and properties; recovery certificate to be issued.

The Axis Bank Ltd. versus M/s. Madur Gas Agency. — Banking and Recovery | DRT (2026)

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IN THE DEBTS RECOVERY TRIBUNAL-I] AT HYDERABAD

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DATED THIS THE OgTH DAY OF FEBRUARY, 2026

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

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PRESIDING OFFICER

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ORIGINAL APPLICATION No: 713 OF 2025

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The Axis Bank Ltd., Having it Office at 5-4-183/784,3'. Floor 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. Madur Gas Agency., A Partnership Firm, Represented by Its Partner, Mr. Rajesh Gudimetla Having its Office al 4-2-757, Block-2 Gumastha Naga r, Ta ndu r Vikarabad Distrlct - 501141.

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Also at:-

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4-2- 194/5D, Grou nd Floor Vignanpuri Colony, Tandur vikarabad District - 501141.

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Mr. Rajesh Gudimetla, S/o, Yellam Raju Aged about 40 Years, Occ: Business R/o. No.50, H.No.30-265/6, Kapra Hyderabad - 500062.

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Also at:-

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R/o. H. No.4- 1-48l 1, Vignanpuri Colony Tandur, Vikarabad District - 501141.

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Also at:C/o. 4-2-757, Block - 2, Gumastha Nagar Tandur, Vikarabad District - 501141.

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...Defendants

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Counsel for the Applicant : Mr. M. Srinivas Reddy Defenda nts t Ex-Pafte(fu$L

oA.NO.713/202s

:: ORDER ::

The Applicant Bank filed the present OA for the recovery a total sum of Rs.1,13,08,499/- from the defendants joinfly 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 assets.

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Summons served on D1 and 2. They were set ex_parte on 30.10.2025 as called absent and no representation.

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The Applicant Bank examined Syed Shafiuddin, Senior Manager, as AW-1 and marked 29 documents through him as Ex. A.1 to Ex. A.29.

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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 Appticant Bank is entitted for the claim made in the OA against the Defendants and OA hypothecated assets 2

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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.29 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendants. Hence, I hold that the Defendants are joinuy and severally liable to pay the OA ctaim to the ApplicaryL.lPank with future interest and costs. fuff.,pt\

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oA.NO.713l202s

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. 7. In the result, the present Original Application No.713/2025 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.1,13,08,499/- with future interest @6.B50/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 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;

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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 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 Ogth Day of February, 2026).

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k""'$ ESHWAR KOTHE) PRESIDING OFFICER

The Axis Bank Ltd. v. M/s. Madur Gas Agency.

Case brief

What is this about?

What did the court decide?

The Axis Bank Ltd. v. M/s. Madur Gas Agency.

Case brief

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What did the court decide?

What the court decided

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