Allowed

Yes Bank v. Deepak Kumar Mishra

DRT24 May 2023OA/248/2022

Case brief

AI extract

What is this about?

In this Original Application before the Debts Recovery Tribunal, the Applicant Bank sought recovery of a sum from the defendants who remained in default. The Presiding Officer, hearing the case ex-parte and perusing the evidence, held the defendants liable and allowed the application for recovery of the debt along with future interest and costs.

What did the court decide?

Defendants directed to jointly and severally pay Rs. 58,46,251.08 with future interest @ 9.600% p.a. simple; bank entitled to proceed against assets and properties for realization and costs.

Yes Bank versus Deepak Kumar Mishra — Consumer Protection | DRT (2023)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDEMBAD DATED THIS THE 24th DAY OF MAY, 2023 PRESENT: SH. MMESHWAR.KoTHE, B.com., L.LB. (Hons.), M.A. PRESIOING OFFICER

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Originat Application No: 248 OF ZO22

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M/s YES BANK Limited. Office at # 1-8-387, 3rd Floor. Agrava,nshi^plaza, HUDA Lane, S.p. noad, Secunderabad-500003 Rep by its authorized siqnatorv l4r. D. Shyam xumar Rdddy.

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...Appticant

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Versus

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Mr. Deepak Kumar Mishra

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S/o. Amrish Mishra Aged About 21. occ: Business R/o. Flat No.2o2, Vasantha Residency, Raghavendra Colony, Medchat - 501401.

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Also at :

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Mr. Deepak Kumar Mishra R/o. Plot No.203, Road No.6, Sri Laxmi Nilayam, Balaji Nagar Colony N4edchal. Ranga Reddy 501401.

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Mr.Amrish Mishra

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S/o. Ramsiya Mishra, Aged about 52 years, Occ: Business, R/o. Flat No.202, Vasantha Residency, Raghavendra Colony, Medchal - 501401.

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Also at :

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l,lr. Amrish Mishra f{"*

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OA.No.248/2022

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R/o. Plot No.203,^{Road No 6,} Sri Laxmi Nilayam,^{Balaji Nagar Colony'} Medchal,^{Ranga Reddy} -^501401' .. Defendants

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Counset^{for the APPlica nt} Defendants

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: Mr. M.Srinivas^Reddy : Exparte

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::^g-LLLB_::

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The Applicant^{Bankfiled the present OA for the recovery of a sum of} Rs.58,46,251.08ps^{from the defendants jointly and severallywith} future interest^{@ 18% p.a' with monthly restsfrom20 '07 '20)2 dl} thedateofrealisationalongwithcosts,andindefault'forsaleof OA schedule^assets

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z. The defendants^{1 and 2 served summonsthroughpaper publication'} The defendants^{were set exparteon 26'09 '2022 as calledabsent} and no rePresentation.

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The Appllcant^{Bank examinedN4r'DShyam Kumar Reddy'senior} Manager^{Legal as AW-1 and marked7, documentsthrough him as} Ex. A.1 to^{Ex. A.7.}

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Heard the Ld.^{Counselfor the Applicant Bank and perused the} material^{placed on record.}

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The^point that arises^{for consideration is:-}

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Whether the Applicant^{Bankis entitled for} the claim made in the OA against^the Defendants and the oA schedule^assets?

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As stated supra, the Defendants^{remained ex-parte. The Evidence} Affldavit coupled with the recitals in the documents viz.,^{Exs.A.1 to} A.7 marked on behalf of the Applicant^{Bank clinchesthe claim of the}

OA.No.24812021

Applicant Bank against the Defendants. Hence, I hold that rhe Defendants are liable to pay the OA claim to the Applicant Bank v,".tlh future interest and costs.

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In the result, the present Original Application No.Z4B/202;; s allowed as under: -

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i) The Defendants are joinfly and severally liable to pay to the Applicant Bank a sum of Rs.5g,46,251.Ogps with future interest @ 9.600/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 as described in the schedule annexed to the OA and the applicant bank is entifled 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 the 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., transcribed by him, corrected, signed and pronounced by me in the open court on this the 24ti day of May, 2023) .

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/"{1X,,,'*

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(RAMESHWAR KOTHE) PRESIDING OFFICER

Yes Bank v. Deepak Kumar Mishra

Case brief

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Yes Bank v. Deepak Kumar Mishra

Case brief

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