Allowed

M/S. Yes Bank Limited v. M/S. Sriveda Educational Society

DRT20 Nov 2025OA/270/2025

Case brief

AI extract

What is this about?

The DT II at Hyderabad allowed Original Application No. 270 of 2025 filed by YES Bank Limited for recovery of Rs. 38,86,058.50 from Sriveda Educational Society and one Mr. Komandla Srinivas Reddy. Being heard ex-parte, the tribunal held the defendants jointly and severally liable to pay the amount with future interest, costs, and permitted the applicant to realize dues from hypothecated vehicles a

What did the court decide?

Defendants directed to pay Rs. 38,86,058.50 with future interest; Recovery Certificate issued; Rights to proceed against hypothecated vehicles and properties granted.

M/S. Yes Bank Limited versus M/S. Sriveda… — Contract and Commercial Disputes | DRT (2025)

¶1

IN THE DEBTS RECOVERY TRIBUNAL.II AT HYDERABAD DATED THIS THE 2OTH DAY OF NOVEMBER, 2025

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

¶3

ORIGINAL APPLICATION No: 270 oF 2025

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M/s. YES Bank Limited., Office at 1-8-387 , 2nd Floot 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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lvl/s. Sriveda Educational Society., Rep by its Authorized Signatory K- Srinivas Reddy, OFfice at H.No.6_9/p/11 Plot No.11, Bachupally, KRCR Harithavanam Colony, Hyderabad - 5O0O9O.

¶8

Mr. Komandla Srinivas Reddv S/o. K. Damodar Reddy, Aqed about 44 Years, Occ: Self EmDloved 9/?.^{Mlt Sriveda Educationat Society.,} H.N_o.6-9lp/1 1,^ptot No. 1 1, Bachupatiy KRCR Harithavanam Colony, Hyderabad _ 5OO09O.

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...Defendants

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Counsel for the Applicant

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Defendants

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M/s. M. Srinivas Reddy

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Ex-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.38,86,058.5ops from the defendants joinuy and severally with future interest @1go/o p.a. compounded with monthly rests from 03.12.2024 till the date of realization along with costs and in default for sale of hypothecated vehicles. ./.4\a, ./ .?1 / /,/-4.\€ u/

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oa.No.270l2025

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Summons served on^{D1 and 2. Theywere set ex-parte} 09.07.2025 as called^{absentand no representation.}

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The Applicant^{Bank examinedSai Pavan Gudivada,Legal} Manager, as AW-1 and^{marked 07 documentsthrough him as} Ex. A.1 to Ex. A.07.

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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 considerationis:-}

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Whether the^{Applicant Bank is entitled} for the claim^{madein the OA against} the Defendants^{and OA hypothecated} vehicles?

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As stated supra,^{the Defendants remained ex-parte The} Evidence^{Affidavitcoupled with the recitals in the documents} vlz., Exs.A.1^{to A.07 marked on behalf of the ApplicantBank} 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 wlth futureinterest} and costs.

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In the result,^{the present Original Application No 27012025is} allowed^{as under: -}

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The Defendants^{are jointly and severally}

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i) liable to^{pay to the Applicant Bank a sum of} Rs.38,86,058.50ps^{with future interest} @12.01o/o^{p.a. simple from the date of} a,Prication^{till the date o"t/frty,g}

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(y^-1$*

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oA.NO.270l202s

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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 debU

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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 20th Day of November, 2025).

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rfl<",/ U (RAMESHWAR KOTHE) PRESIDING OFFICER

M/S. Yes Bank Limited v. M/S. Sriveda Educational Society

Case brief

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M/S. Yes Bank Limited v. M/S. Sriveda Educational Society

Case brief

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What the court decided

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