Allowed

Yes Bank v. Bontha Yadaiah

DRT24 May 2023OA/144/2022

Case brief

AI extract

What is this about?

DT-II Hyderabad allowed a debt recovery application by Yes Bank against two defendants. The court held the defendants liable to pay the principal sum with future interest and costs after examining an affidavit and documentary evidence, noting the defendants remained absent.

What did the court decide?

Defendants directed to pay Rs. 24,93,835/- with future interest at 18% p.a. and costs; recovery certificate issued.

Yes Bank versus Bontha Yadaiah — Banking and Recovery | DRT (2023)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDEMBAD

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DATED THIS THE 24TI DAY OF MAY, 2023

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PRESENT: SH. RAMESHWAR KOTHE, B.Com.7 L.LB. (HonS.), M.A. PRESIDlNG OFFICER

¶4

Original Application No: 144 OF 2022

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M/s YES BANK Limited. Office at # 1-8-387, 3rd Floor, Agravanshi Plaza, HUDA Lane. S.P. Road, Secunderabad-500003 Rep by its authorized signatory Mr. Darshan Kanth Pondhe.

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...Applica nt

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Versus

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Mr.Bontha Yadaiah S/o Bontha Mallaiah, Aged about 41 years, Occ: Business, R/o H.No.73, Near Yellamma Temple, Manjeeranagar, Beeramguda, Ameenpur Mandal, Sanga Reddy District-502032.

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M rs. Bontha Yadamma

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W/o Bontha Yadaiah, aged about 36 years, Occ: Business. R/o H,No.73, Near Yellamma Temple. lYanjeeranagar, Beeramguda, Ameepur Mandal, sanga Reddy District-502032.

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.. Defendants

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Counsel for the Applicant : Mr. M.Srinivas Reddy Defenda nts :Exparte Oy*

OA.No.t44l2022

:: ORDER ::

The Applicant Bank filed the present OA for the recovery of a sum of Rs.24,93,835/- from the defendants jointly and severally with future interest @ 18% p.a. with monthly rests from 30.08.2021 till the date of realisation along with costs.

¶17

The defendants 1 and 2 served with summons. The defendants were set exparte on 25.08.2022 as called absent and no representation.

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The Applicant Bank examined Mr.D.Shyam Kumar Reddy, Senior Manager Legal as AW-1 and marked 07, documents through him as Ex. A.1 to Ex. A.7.

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Heard the Ld. Counsel for the Applicant Bank and perused the materlal 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 made in the OA against the Defendants?

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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.7 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendants. Hence, I hold that the Defendants are 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.744/2022 is allowed as under:^- N^a

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OA.No.L44/2022

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i) The Defendants are jointly and severally liable to pay to the Applicant Bank a sum of Rs.24,93,835/- with future interest @ l2o/o p.a. simple from the date of application till the date of realization;

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ii) the applicant bank is also entitled to proceed against the person and properties of the defendants for realization of its dues;

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iii) 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., transcribed by him, corrected, signed and pronounced by me in the open court on this the 24th day of May, 2023) .

¶31

adw* S.enlesswAR^KorHE) PRESIDING OFFICER

Yes Bank v. Bontha Yadaiah

Case brief

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Yes Bank v. Bontha Yadaiah

Case brief

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