DRT-II Hyderabad allowed Yes Bank's original application for recovery of Rs. 35,22,897.31 with interest against defaulting borrowers, enforcing hypothecation of a vehicle.
Defendants directed to pay Rs. 35,22,897.31 with future interest at 10.5% p.a.; applicant entitled to proceed against hypothecated vehicle and properties; costs awarded.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THEDEBTSRECOVERYTRIBUNAL-II AT HYDERABAD DATEDTHIS THE 19th DAYOF MARCH'2024
PRESENT:sH.RAMESHWARKorHEiFrS:[',', L'LB' (Hons )' M'A'
originalApplicationNo: 247 OF 2022
Yes BankLimited, 1-8-387,3rd Floor, AoravanshiPlaza, H-UOA Lun",S.PRoad, secunderabad-500003, Rep. bYits AuthorizedSi9natory'
.....APPlicant.
Versus
.....Defendants
Counselfor the APP|icant
Defendants
: Mr. M.SrinivasReddy
: Exparte
:: ILLLSB::
oA.NO.247 12022
The point that arises for consideration is:_
Whether the Applicant Bank is entitled for the claim made in the OA against the Defendants and OA hypothecated vehicle?
- 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 joinuy and severally liable topay the OA claim to the Applicant Bank with future interest and costs,
i) The Defendants are jointly and severally liable to pay to the Applicant Bank a sum of Rs.35,22,897.31ps with future interest @ 10.5olo p.a. simple from the date of application till the date ot rcalization; )/W ,-,, fit;.\
oA.NO.247 12022
3
,f,i"*'
(RAMESHWAR KOTHE) PRESIDING OFFICER
1 issue framed by the court
Whether the Applicant Bank is entitled for the claim made in the OA against the Defendants and OA hypothecated vehicle?
1 provisions across 1 enactments
Yes Bank Limited
Mr. Bodise Venkatesham
Mrs. Bodise Chandana
RAMESHWAR KOTHE
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
