Allowed

M/S. Yes Bank Limited v. M/S.Suryodaya Infra Projects Pvt. Ltd.

DRT7 Aug 2025OA/152/2024

Case brief

AI extract

What is this about?

DT-II at Hyderabad allowed OA No.152 of 2024 filed by Yes Bank Limited for recovery of Rs.1,08,47,366.03 with future interest and costs from the defendants, holding them jointly and severally liable.

What did the court decide?

Defendants jointly and severally liable to pay Rs.1,08,47,366.03 with future interest @9.05% p.a. simple; recovery certificate issued; proceeds against hypothecated vehicles and defendants' properties

M/S. Yes Bank Limited versus M/S.Suryodaya Infra Projects Pvt… — Banking and Recovery | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD DATED THIS THE OTTH DAY OF AUGUST, 2025

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PRESENT: SH. RAMESHWAR KOTHE, B.Com., L.LB. (Hons.), M.A. PRESIDING OFFICER

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ORIGINAL APPLICATION No: 152 OF 2024

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M/s.YES Bank Limited., Office at 1-8-387, 3'd 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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M/s. Suryodaya Infra Projects Pvt. Ltd., Rep by its Director, Mr.B.Rajendra Prasada Rao, Office at #7-L-644 Plot No.45, Sundar Nagar Colony Near ESI Hospital, Hyderabad-500038.

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Mr. B.Rajendra Prasada Rao S/o. Malakondaiah, Aged about 65 Years

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Occ: Director of M/s. Suryodaya Infra Projects Pvt. Ltd., R/o. H.No.8-2-293182/A80-C MLA Colony, Road No.12, Banjara Hills Hyderabad - 500034.

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..,Defendants

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Counsel for the Applicant

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M/s. M.Srinivas Reddy

Defendants

Ex-parte

:: ORDER::

The Applicant Bank filed the present OA for the recovery a total sum of Rs.1,08,47,366.03ps from the defendants jointly and severally with future interest @18o/o p.a. compounded with monthly rests from 07.70.2023 till the date of realization along with costs and in defaullc for sare " ^try)Y#ehicres.

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oA.NO.152l2024

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Summons served on^{D1 and 2. Theywere set ex-parteon} 28.06.2024 as called absent^{and no representation.}

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The Applicant Bank^{examinedSai Pavan Gudivada,Legal} Manager, as AW-1 and^marked 09^{documentsthrough heras} Ex. A.1 to Ex. A.09.

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Heard the Ld. Counsel for the^{Applicant Bank. 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 Defendants and OA^hypothecated vehicles?

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As stated supra, the Defendants^{remained ex-parte. The} Evidence Affidavit coupled with^{the recitalsin the documents} viz., Exs.A.1 to A.O9^marked on^{behalf of the ApplicantBank} cllnches the claim of^{the Applicant Bank against the Defendants'} Hence, I hold that^{the Defendants are jointlyand severallyliable} to^pay the OA^{claim to the Applicant Bank with futureinterest} and costs.

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In the result, the^{present Original Application No.15212024 is} allowed as under:^-

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i) The Defendants are^{jointly and severally} liable to^pay to the^{Applicant Bank a sum of} Rs.1,08,47,366.03ps^{with future interest} @9.05% P.a.^{simple from the dateof} applicatlon till the^{date ot reatizatior/fu-u} / )/d"';v

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oA.NO.L52l2024

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ii) the OA claim is secured by way of hypothecation of vehicles 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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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 07th Day of August, 2025).

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rTwn (RAMESHWAR KOTHE) PRESIDING OFFICER

M/S. Yes Bank Limited v. M/S.Suryodaya Infra Projects Pvt. Ltd.

Case brief

What is this about?

What did the court decide?

M/S. Yes Bank Limited v. M/S.Suryodaya Infra Projects Pvt. Ltd.

Case brief

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What did the court decide?

What the court decided

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