Allowed

M/S. Yes Bank Limited v. Mr. Maley Srinivas Reddy

DRT23 Oct 2025OA/228/2025

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed an original application filed by Yes Bank for recovery from two defendants jointly and severally. The defendants remained in exile, and the bank's evidence clinched the claim. The court ordered payment of the principal sum with interest and costs, secured by hypothecated assets.

What did the court decide?

Defendants ordered to pay Rs.32,16,868.14 with interest at 10.41% p.a. and costs; bank entitled to proceed against hypothecated assets.

M/S. Yes Bank Limited versus Mr. Maley Srinivas Reddy — Banking and Recovery | DRT (2025)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDEMBAD DATED THIS THE 23RD DAY OF OCTOBER, 2025

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

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ORIGINAL APPLICATION No: 228 OF 2025

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M/s. YES Bank Limited., Office at 1-8-387, 2No Floor, Agravansh i 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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Mr. 14aley Srlnivas Reddy S/o. Raghava Reddy Aged about 56 Years, Occ: Business R^/o. H. No.5-3-/35/107, Street No.3 RNS Colony, Boduppal, Medipally N4edchal Malkajgiri District - 500092.

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Mr. Maley Sandeep Reddy S/o. Srinivas Reddy Aged about 56 Years, Occ: Business R/o. H. No.5-3-135/107, Street No.3 RNS Colony, Boduppal, Medipally Medchal Matkajgiri District - 500092.

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...Defendants

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Counsel for the Applicant : M/s. M.Srinivas Reddy Defendants : Ex-parteEx-parte

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: Ex-parteEx-parte

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:: ORDER ::

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The Applicant Bank filed the present OA for the recovery a total sum of Rs.32,16,868.14ps from the defendants jointly and severally with future interest @18o/o p.a. compounded with fu*'"

¶14

oA.NO.228l202s

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trcm 03.12.2024 till^{the date of realizationalong} monthly rests with costs and in default for sale^{of hypothecated assets'}

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Summons served^{on D1 and 2 Theywere set ex-parteon} 26.06.2025^{as called absentand no representation'}

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Sai Pavan Gudivada,^Legal

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1. The Applicant Bank^examined 1O documents through^himas

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Manager, as^{AW-1and marked} Ex. A.1 to^{Ex. A.10.}

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Heard the Ld.^{Counselfor the Applicant Bank' 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^{madein the OA against} the Defendants and^{OA hypothecated} assets ?

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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.10 marked on behalf of the Applicant Bank} clinches the claim^{of the Applicant Bank against the Defendants'} Hence, I hold^{that the Defendants are jointlyand severallyliable} to^pay the OA^{claimto the Applicant Bank with futurelnterest} and costs.

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In the result,^{the present Original Application No'22812O25is} allowed as^{under: -}

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i) The Defendants are^{jointiy and severally} liable to^pay to the^{Applicant Bank a sum of} Rs.32,16,868.14ps with^{futureinterest} fu,u-"

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oA.NO.228/202s

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@10'41o/o^{p asimple from the date of} application^{till the date of realization;}

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ii) the OA^{claim issecured bY way of} hypothecation^{of assets describedln the} schedule^{annexed tothe OA and the} applicant^{bank is entitledto proceed against} the same to^{realise its debu}

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iii) the applicant^{bank is also entitled to proceed} against the^{person and properties of} defendants^{for reallzationof lts dues;}

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iv) the applicant^{bank is entitledfor the costs'}

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The Applicant Bank^{is directed to file Cost Memo within2 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,^{signedand pronounced by me in the open court on} this the 23'd Day^of october, 2025) .. 1l1l

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.. 1l1l

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dnrrr^{,,^} o,rz -^ r.rtj^r

¶38

(RAMESHWAR KOTHE) PRESIDING OFFICER

M/S. Yes Bank Limited v. Mr. Maley Srinivas Reddy

Case brief

What is this about?

What did the court decide?

M/S. Yes Bank Limited v. Mr. Maley Srinivas Reddy

Case brief

What is this about?

What did the court decide?

What the court decided

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Issues for consideration

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