Allowed

The Yes Bank Limited v. M/S. Ayyappa Logistics

DRT13 Nov 2025OA/232/2025

Case brief

AI extract

What is this about?

In Debts Recovery Tribunal-II Hyderabad, the Presiding Officer allowed the applicant bank's original application against ex-parte respondents. The court held defendants jointly and severally liable to pay the claimed sum with interest, confirming entitlement to proceed against the hypothecated vehicle and issue a recovery certificate.

What did the court decide?

Defendants to pay Rs.35,53,443.76 with future interest at 9.01% p.a.; bank entitled to proceed against hypothecated vehicle and properties; recovery certificate issued; installment payment plan allowe

The Yes Bank Limited versus M/S. Ayyappa Logistics — Banking and Recovery | DRT (2025)

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]N THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD DATED THIS THE 13TH DAY OF NOVEMBER, 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: 232 OF 2025

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The YES Bank Limited., office at 1-8-387, 2nd 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. Ayyappa Logistics., Rep by its Proprietor B.Srinivas Goud Office at Plot No,02, Near Bommalagudi, Hayath Nagar Ranga Reddy - 501505.

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Mrs. Balagoni Sandhya Rani W/o. B.Srinivas Goud Aged about 37 Years, Occ: House Wife R/o. Plot No.02, Road No.04, Pavana Giri Colony, Hayath Nagar Ranga Reddy - 501505.

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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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:: o-LqE& ::

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The Applicant Bank filed the^present OA for the recovery a total sum of Rs.35,53,443.76ps from the defendants^jointly and severally with future interest @18o/o p.a. compounded with monthly rests frcm 03.12.2024 till the date of realization along with costs and in default for sale of hypothecated vehicle.

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%,rr-q

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oA.NO.232l2025

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Summons served on D1 and 2 through paper publication. They were set ex-parte on 23.07.2025 as called absent and no representation.

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The Applicant Bank examined Sai pavan Gudivada, Legal Manager, as AW-1 and marked 07 documents through him as Ex. A.1 to Ex. A.07.

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Heard the Ld. Counsel for 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 entitted for the claim made in the OA against the Defendants and OA hypothecated vehicle?

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As stated supra, the Defendants remained ex_parte. The Evidence Affidavit coupred with the recitars in the documents viz., Exs.A.1 to A.07 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendants. Hence, I hold that the Defendants are jointly and severally liable to pay the oA craim to the Applicant Bank with future interest and costs.

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In the result, the present Original Application No.232/2025 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.35,53,443.76ps with future interest ffi"P

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oA.NO.232l2025

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@9.01o/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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d. 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 13th Day of November, 2025).

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U[k**b (RAMESHWAR KOTHE) PRESIDING OFFICER

The Yes Bank Limited v. M/S. Ayyappa Logistics

Case brief

What is this about?

What did the court decide?

The Yes Bank Limited v. M/S. Ayyappa Logistics

Case brief

What is this about?

What did the court decide?

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