Allowed

Yes Bank Limited v. Mrs.Bendi Swapna

DRT18 Sept 2024OA/993/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the applicant bank's original application against the defaulting defendant who remained absent. The bank was directed to repay Rs. 23,50,178.57 with interest, seize hypothecated vehicle, proceed against properties, and issue a recovery certificate.

What did the court decide?

Defendant to pay Rs. 23,50,178.57 with interest; bank to realize debt from hypothecated vehicle and other properties; recovery certificate to be issued.

Yes Bank Limited versus Mrs.Bendi Swapna — Money Laundering | DRT (2024)

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IN THE DEBTS^{RECOVERY TRIBUNAL-II AT HYDEMBAD} DATED THIS^{THEl8th DAY OF SEPTEMBER,2024} PRESENT:^{SH' RAMESHWAR KOTHE,B.COM.,L.LB. (HONS.), M.A.} PRESIDING^OFFICER

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ORIGINAL APPLICATION^{No: 993 OF 2022}

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M/s.YES BANK Limited., Office at 1-B-387,^{3'o Floor,} Agravanshi Plaza,^{HUDA Lane,} S.P.Road, Secunderabad -^500003' Rep. by its Authorized^SignatorY.

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.....Applicant.

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Versus

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Mrs.Bendi Swapna, W/o.B.Vijaya^Raju, Aged about 40 Years, Occ: Pvt Employee, R/o.FIat No.102, HIG 254, SV Nilayam, 6th Phase, KPHB, Kukatpally, Hyderabad - 500072.

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Also at:-

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Mrs.Bendi Swapna C/o.LIG-II 48, Housing Board Colony, Bhongir, Yadadri District - 508i16.

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Also at:-

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Mrs.Bendi Swapna C/o.Accenture Solutions Pvt. Ltd., Accenture Wave Rock Buiding, Sez Area, Nanakramguda, Hyderabad - 500008.

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... Defendant

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Counsel for the Applicant

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: M/s.M.Srinivas Reddy

Defendant

oa.No.993/2022

:: ORDER::

The Applicant Bank filed the present OA for the recovery a total sum of Rs.23,5 0,Ug.S7ps from the defendant with future interest @ 18% p.a. compounded with monthly rests from 73.07.2022 till the date of realization along with costs and in default for sale of hypothecated vehicle.

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Summons sent to sole defendant returned with endorsement refused, hence deemed to be served and was set ex_parte on 72.04.2023 as called absent and no representation.

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The Applicant Bank examined D.Shyam Kumar Reddy, Asst. Vice president Legal, as AW-1 and marked OB documents through him as Ex.A.1to Ex.A.0g.

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Ld. Counsel for the Applicant Bank stated orders may be passed on merits. Perused the material placed on record.

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5, 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 Defendant and OA hypothecated vehicle?

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As stated supra/ the Defendant remained ex_parte. The Evidence Affidavit coupled with the recitals in the documents viz., Exs.A.1 to A.08 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendant. Hence, I hold that the Defendant is liable to pay the OA claim to the Appticant Bank with future interest and costzxxat\

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oA.NO.993/2022

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In the result, the present Original Application No.933/2022 is allowed as under: -

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i) The Defendant is liable to pay to the Appllcant Bank a sum of Rs.23,50,178.57ps with future interest @ 9.620/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 vehicle described in the schedule annexed to the OA and the applicant bank is entitled 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 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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q Issue Recovery Certificate accordingly.

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Communicate a copy of this order to the parties concerned. (Dictated to the steno, corrected, signed and pronounced by me in the open court on this the 18'h Day of September, 2024).

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ESHWAR KOTHE) PRESIDING OFFICER

Yes Bank Limited v. Mrs.Bendi Swapna

Case brief

What is this about?

What did the court decide?

Yes Bank Limited v. Mrs.Bendi Swapna

Case brief

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What did the court decide?

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