Allowed

The Axis Bank Ltd. v. Alakuntla Venkanna

DRT9 Jul 2026OA/745/2025

Case brief

AI extract

What is this about?

An Debt Recovery Tribunal allowed an Original Application filed by a bank against borrowers for recovery of dues and permission to realize the debt from hypothecated vehicle and assets.

What did the court decide?

Defendants are directed to pay Rs.47,51,888/- with interest; OA claim secured by hypothecated vehicle; bank entitled to proceed against persons and properties; recovery certificate issued.

The Axis Bank Ltd. versus Alakuntla Venkanna — Banking and Recovery | DRT (2026)

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]N THE DEBTS RECOVERY TRIBUNAL-I] AT HYDERABAD DATED THIS THE OgTH DAY OF JULY, 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: 745 OF 2025

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The Axis Bank Ltd., Having it Office at 5-4-183/184, 3'd 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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Alakuntla Venkanna, S/o. A Komaralah Aged about 46 Years, Occ: Business R/o. B 59 VTC, Devaruppula Post Warangal - 506302.

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Alakuntal Sujatha, D/o. Golusula Mallaiah, Aged about 42 Years Occ: Business, R/o. 8 59 VTC Devaruppula Post, Warangal - 506302.

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... 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.47,51,888/- from the defendants^jointly and severally with future interest @18o/o p.a. compounded with monthly rests from 13.06.2025 till the date of realization along with costs and in default for sale of hypothecated vehicle. F"r^' .'.1, ,-r.1 ,

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oA.NO.745/202s

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Summons sent to D1 and 2 returned with endorsement refused hence, deemed to be served. They were set ex-parte on 03.11.2025 as called absent and no representation.

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The Applicant Bank examined Syed Shafiuddin, Senior Manager, as AW-1 and marked 11 documents through him as Ex. A.1 to Ex. A.11.

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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 enti ed for the claim made in the OA against the Defendants and OA hypothecated vehicle?

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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.11 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.74512025 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.47,51,888/- with future interest @11.85yo p.a. simple from the date of application till the date of realization; /w515.rL

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oA.NO.745/2025

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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;

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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 09th Day of July, 2026).

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Ow**

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(RAMESHWAR KOTHE) PRESIDING OFFICER

The Axis Bank Ltd. v. Alakuntla Venkanna

Case brief

What is this about?

What did the court decide?

The Axis Bank Ltd. v. Alakuntla Venkanna

Case brief

What is this about?

What did the court decide?

What the court decided

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