Allowed

Yes Bank v. Baluguri Venkatesham

DRT12 Oct 2023OA/656/2022

Case brief

AI extract

What is this about?

The Tribunal allowed an original application filed by Yes Bank Limited for recovery of dues from two defendants. The defendants appeared ex-parte. The court held the defendants jointly and severally liable and directed proceedings against the hypothecated vehicle and their properties.

What did the court decide?

Direct payment of Rs. 30,06,644.44 with future interest; authority to proceed against hypothecated vehicle and personal property for realization of dues; issue of Recovery Certificate.

Yes Bank versus Baluguri Venkatesham — Consumer Protection | DRT (2023)

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(

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD DATED THIS THE 12th DAY OF OCTOBER, 2023

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PRESENT: SH. MMESHWAR K L. LB. (Hons. ), M.A. ,*.s,oiff lrjir",'fJp.,

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Original Application No: 656 OF 2022

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Yes Bank Limited, Office at # 1-8-387, 3d floor. Agravanshi^plaza, HUDA Lane, S.p. Road, Secunderabad-50000i.

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Rep. by its Authorized Signatory.

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.....Applicant.

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Versus

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Mr. Baluguri Venkatesham S/o. Baluguri Lingaiah, Aged: 35^years, Occ: Business R/o. H. No. 4-23, S C Cotonv. Shivaneni Gudem, Chityala, Nalgonda District-508114.

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Mrs. Bauguri Ramana Wo. Venkatesham,

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Aged: 34^years, Occ: Housewife, R/o. H. No. 4-23, S C Cotony, Shivaneni Gudem, Chityala, Nalgonda District-508114.

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... Defendants

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Counsel for the Applicant

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Mr. M. Srinivas Reddy ExparteN*"

Defendants

oA.NO.655/2022

::^qLLAB ::

The Applicant Bank filed the^{present OA for the recoverya total} sum of RS.3O.O6 ,6}4.44ps from the^{defendantsjointly and} severally with future^interest @^{18o/op.a. compounded with} monthly rests trcm L3.06.2022 till the date^{of realisationalong} with costs and in default for sale^{of OA hypothecatedvehicle.}

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The defendants were set exparte on^{20-72.2022as called} absent and no representation.

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The Applicant Bank examined D^{Shyam Kumar Reddy,Asst.} Vice President, as AW-1 and marked 8 documents^{through him} as Ex. A.1 to Ex. A.8.

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Ld. Counsel for the Applicant Bank^{reportedorders may be} passed based on record. 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 entitled 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.8 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 claim to the Applicant Bank with future interest and costs.

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9f,.r:>

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oa.No.556/2022

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In the result, the present original Application No 656/2022 is arowed as under; -

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i) the Defendants iabre to pay,";^::#:I ,":1j::T:; Rs.30,06,604.44ps with future interest @ 9.25olo simple from the date of application till the date of realization;

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ii) ttre OA claim hypothecation ",^{:"r;:'::.J;.?.fl} schedule annexed to the OA and the applicant bank is entiued to proceed against the same realise its debt;

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

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iiD the applicant bank is entiHed 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. o Issue Recovery Certificate accordingly. 10. Communicate a copy of this order to the parties concerned. (oictated to the steno, corrected. sionea , rts,ru and pronounced by me in the open couft on ,f,,r,f," f Z. a"i oiOooi""i.*,

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P---------------."so

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Yes Bank v. Baluguri Venkatesham

Case brief

What is this about?

What did the court decide?

Yes Bank v. Baluguri Venkatesham

Case brief

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