Allowed

M/S. Yes Bank Ltd. v. M/S. Spectrum Biocides India Private Limited

DRT19 Dec 2025OA/259/2025

Case brief

AI extract

What is this about?

In an original application for recovery of a defaulted loan sum, the Debts Recovery Tribunal allowed the bank's claim against multiple defendants who remained ex-parte. The court held the defendants liable to pay the amount with interest and directed the issue of a Recovery Certificate while validating the bank's right to realize dues from hypothecated assets.

What did the court decide?

Directed defendants to pay Rs.1,51,35,097.80 with future interest; allowed recovery from hypothecated assets and personal property; Recovery Certificate issued.

M/S. Yes Bank Ltd. versus M/S. Spectrum Biocides India Private… — Banking and Recovery | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD

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DATED THIS THE 19TH DAY OF DECEMBER, 2025

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PRESENT: SH. RAMESHWAR KOTHE, B.Com., L.LB. (HonS.), IVI.A,

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PRESIDING OFFICER

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ORIGINAL APPLICATION No: 259 OF 2025

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l"l/s. YES Bank Ltd., 2nd Floor, H. No.1-8-387, Agravanshi Plaza, HUDA Lane, SP Road, Secunderabad-500003. Rep. by its Authorized Signatory.

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.....Applicant.

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Versus

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M/s. Spectrum Biocides India Private Limited., Represented by its Director Mr. Kapil Reddy Laxmipoor Survey No.809, Opp Fortune, Foams Industrial Development Area Medchal, Telangana - 501401.

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Also at:-

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M/s. Spectrum Biocides India Private Limited., Represented by its Director lvlr. Kapil Reddy Laxmipoor 2nd Floor, Flat No.309, Sy.No.575 Kulsumpura, Alwal, Secunderabad - 500067.

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14r. Kapil Reddy Laxmipoor Director of M/s. Spectrum Biocides India Private Limited., Survey No.809, Opp Fortune Foams Industrial Development Area Medchal, Telangana - 501401.

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Also at:-

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Mr. Kapil Reddy Laxmipoor S/o. Mr. Laxmipoor Narayan Reddy 1-104, Village Nagar, Pipri VTC Nirmal P.O: Nirmal, Nirmal District Adilabad, Telangana - 504106.

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Mr. Gangam Venkat Anil Kumar Reddy Plot No. 35 & 36, Century Avenue /2lnn,,/^r-h

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(//' ''*t'

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oA.NO.259/2025

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Pet Basheerabad, Hydera bad- 500055.

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Mr. Gangam Venkat Jyothi Reddy Reddy Plot No. 35 & 36, Century Avenue Pet Basheerabad, Hydera bad- 500055.

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Mr. Narenda r Reddy Yedla 7 -4-30717, Navajeevan Nagar Ferozguda, Bowenpa lly, Hydera bad- 500011.

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...Defendants

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Counsel for the Applicant : Mr. N. B. Sudarshan Defendants : Ex-pa rte

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:: ORDER ::

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The Applicant Bank filed the present OA for the recovery a total sum of Rs.1,51,35,097.80ps from the defendants jointly and severally with future interest @18o/o p.a. from the date of application till the date of realization along with costs and in default for sale of hypothecated assets.

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Summons served on D1 to 4, whereas summons served on D5 through paper publication. They were set ex-parte on 04.09.2025 as called absent and no representation.

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The Applicant Bank examined Sai^pavan Gudi, Legal Manager, as AW-1 and marked 16 documents through him as Ex. A.1 to Ex. A.16.

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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

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oA.NO.259/2025

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Whether the Applicant Bank is entitled for the claim made in 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 recitals in the documents viz., Exs. A.1 to 4.16 marked on behalf of the Applicant Bank clinches.the claim of the Applicant Bank against the Defendants. Hence, I hold that the Oefendants are jointly and severally liable to pay the OA claim to the Applicant Bank with future interest and costs.

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In the result, the present Original Application No.259/2025 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.1,51,35,097.80ps with future interest @9.75o/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 assets described in the schedule annexed to the OA and the applicant bank ls 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

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oA.NO.259/202s

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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 19th Day of December, 2025).

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ut,

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(RAMESHWAR KOTHE) PRESIDING OFFICER

M/S. Yes Bank Ltd. v. M/S. Spectrum Biocides India Private Limited

Case brief

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What did the court decide?

M/S. Yes Bank Ltd. v. M/S. Spectrum Biocides India Private Limited

Case brief

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