Axis Bank v. Moorthy
Case brief
What is this about?
The Debts Recovery Tribunal allowed an Original Application filed by Axis Bank Limited against two defendants for recovery of a loan against property. The Court found no defense from the defendants and directed the recovery of Rs. 2.57 crores along with interest and costs.
What did the court decide?
Recovery of Rs. 2,57,73,733/- plus interest at 8.95% p.a. and costs from respondents jointly and severally; liberty to sell assets.
What the court decided
T.A. No. 01 of 2022
02.02.2026
1
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 02nd day of February, 2026
Present: SMT. S.V. GOWRAMMA Presiding Officer
TRANSFERRED APPLICATION No. 01 of 2022
Axis Bank Limited Operative Branch at Retail Asset Centre – Pallavaram No.66, Pammal Main Road Pallavaram, Chennai – 600 043 Rep. by its Authroised Signatory …Applicant
-Vs-
- E. Moorthy S/o Elumalai VGN Korona, Flat No.S1 Plot No.66, 67, 68, Sankara Lingam Nagar Street Girugambakkam
Chennai – 600 122
- E. Vengada Lakshmi W/o E. Moorthy
Issues for consideration
2 issues framed by the court
Whether the applicant bank established its claim for recovery of dues against the defendants under Section 19 of the RDB Act, 1993.
Whether the Tribunal was correct in allowing the Original Application and directing recovery of the outstanding sum with interest and costs.
Parties & counsel
- applicant
Axis Bank Limited
- respondent
E. Moorthy
- respondent
E. Vengada Lakshmi
Coram
Case details
As recorded by the court registry
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