Allowed an original application under the RDB Act for recovery of a bank loan. Declared defendants liable to pay Rs. 25,66,383.95 with costs and 8% per annum simple interest from the date of filing until realization.
Recovery of Rs. 25,66,383.95, costs, and simple interest at 8% p.a. from filing date until realization via attachment of assets.
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DEBTS RECOVERY TRIBUNAL-III, CHANDIGARH
ORIGINAL APPLICATION NO.1211/2025
PRESIDED OVER BY MRIDULESH KUMAR SINGH
DATE OF INSTITUTION: 31.08.2025
DATE OF DECISION: 26.12.2025
YES BANK LTD, a Banking company incorporated under the Companies Act, 1956 and carrying on banking business under the Banking Regulation Act, 1949 having its Registered Office at Yes Bank House, Western Express Highway, Santacruz (East) Mumbai-400055, Regional office: SCO No.129-130, 2nd Floor, Sector 9-C, Near CITCO Petrol Pump, Chandigarh-160009, through Aashiv Bhayana, Authorized Officer, Legal Department.
……. Applicant
Versus
Advocates:
Argued by Sh. Nakul Sharma, Advocate for Applicant (through VC) Defendants already ex-parte
FINAL ORDER
2 OA/1211/2025 YES BANK LTD. VS. SHREE BALAJI TRADING CO. AND ANOTHER
Documents executed : GST Registration Certificate, which is Annexure A5 to this OA; Recall notice dated 10.04.2025, which is Annexure A7 to this OA and Account statement along with foreclosure, which are Annexures A8 & A9 to this OA.
3 OA/1211/2025 YES BANK LTD. VS. SHREE BALAJI TRADING CO. AND ANOTHER
was granted to them and for that they had executed all the relevant documents in favour of the applicant. The defendants failed to pay back the loan as per terms and conditions of the agreement between the parties. Subsequently, account of the defendants was classified as NPA. From the documentary evidence brought on record, it is proved that applicant is entitled to recover a sum of Rs.25,66,383.95 (Rupees Twenty Five Lacs Sixty Six Thousand Three Hundred Eighty Three & Paise Ninety Five Only) along with interest from the defendants, jointly and severally, from the date of filing of the present Original Application till realization of the account.
The Tribunal is of the considered opinion that sometimes in appropriate cases the prerogative of mercy is the brightest jewel in the crown of the Judge. Keeping in view the facts and circumstances of the instant case including nature of the mortgaged property/hypothecated assets, undertaking of the defendants, quantum of loan and prevalent market rates of interest which have gone drastically downhill in yester years, while exercising the discretion vested in this Tribunal, this Tribunal deems it just and appropriate to grant uniform simple interest @8.00%p.a. along with interest from the defendants, jointly and severally, from the date of filing of the present Original Application till realization of the accounts.
4
OA/1211/2025
YES BANK LTD. VS. SHREE BALAJI TRADING CO. AND ANOTHER
account from the date of filing of OA till the date of realization of the amount. Accordingly, the applicant shall be entitled to recover aforesaid amount by attachment and sale of personal assets of the defendants. The applicant is at liberty to enforce the claim through due process of law.
11. Any other application pending stands disposed of.
Pronounced by me in the open Tribunal .
Dated: 26.12.2025.
(MRIDULESH KUMAR SINGH)
Presiding Officer, DRT-III, Chandigarh
2 issues framed by the court
Whether the application for recovery of the outstanding loan amount should be allowed.
What rate of interest should be awarded on the due amount pending realization.
1 provisions across 1 enactments
YES BANK LTD
SHREE BALAJI TRADING CO.
SH. MAHAVIR GOYAL
MRIDULESH KUMAR SINGH
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
