Allowed

M/S. Yes Bank Limited v. Mr. Gutti Balaji

DRT4 Sept 2025OA/302/2025

Case brief

AI extract

What is this about?

The Tribunal allowed the Debt Recovery Tribunal application filed by Yes Bank Limited against Gutti Balaji for recovery of Rs. 40,34,287.52 with interest. The defendant remained ex-parte. The Tribunal held the claim is secured by hypothecated vehicle and directed issuance of recovery certificate.

What did the court decide?

Recovery of Rs. 40,34,287.52 with future interest @15% p.a. and costs; permission to proceed against hypothecated vehicle and defendant's properties; issue of Recovery Certificate.

M/S. Yes Bank Limited versus Mr. Gutti Balaji — Contract and Commercial Disputes | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL.II AT^HYDERABAD DATED THIS THE OSTH DAY OF SEPTEMBER, 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: 302 OF 2025

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M/S.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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lYr.Gutti Balaji, S/o.Mr.Gutti Srinlvas Rao 10-2-55, Flat No.201, Fathenagar Pipeline Road/ Ramalayam Street Near Balanagar, Medchal - Malkajgiri Hyderabad - 500018.

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Also at:14r.Gutti Balaji, S/o. lvlr. Gutti Sri n ivas Rao 7th Floor, Amar Sadanand Tech Park Sadanand Estates, Veerabhadra Naga r Opp. Amar Business Park, Baner, Pune - 411045.

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Perma nent Address:14r.Gutti Balaji, S/o.Mr.Gutti Srinivas Rao Gutti Vari Vedi, Ventapalem Mandalam Near Shiva laya m Temple, Desaypeta Chirala, Telangana - 523787.

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...Defendant

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: M/s.N.B.Sudarshan Counsel for the Applicant Defendant : Ex-pa rte

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:: Q-B-q-LL ::

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The Applicant Bank filed the^present OA for the recovery a total sum of Rs.40,3 4,287.52ps from the defendant with future 2trr,"r2..r-q .''-uo*

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oA.NO.302/2025

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interest @18o/o p.a. with monthly rests from the date of application till the date of realization along with costs and in default for sale of hypothecated vehicle.

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Summon served on sole defendant and was set ex-parte on 27.06.2025 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 Defendant and OA hypothecated vehicle?

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As stated supra. the Defendant remained ex-parte. The Evidence Affidavit coupled with the recitals 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 Defendant. Hence, I hold that the Defendant is liabte to pay the OA ctaim to the Applicant Bank with future interest and costs.

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In the result, the present Original Application No.30212025 is allowed as under: -

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i) The Defendant is liable to pay to the Applicant Bank a sum of Rs.40,34,281.52ps 4ff0*'u

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oa.No.302/2o2s

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with Future interest @150/0^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 vehlcle described in the schedule annexed to the OA and^the applicant bank is entitled to^proceed aqainst the same to realise its debt;

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iii) the applicant bank is also entitled to^proceed against the^person and^propertiesof defendants for realization of its dues;

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iv) the applicant bank is entitled for the costs.

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The Applicant Bank ls directed to file Cost 14emo within^{2 weeks} from the date of receipt of this Order.

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Issue Recovery Certificate according ly.

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Communicate a copy of this order to the^parties concerned. (Dictated to the steno, corrected, si8ned and pronounced by me in the open court on this the 08'h Day of Septembe r, 2025).

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kn'tu" ,',Vi* *ort.) PRESIDING OFFICER

M/S. Yes Bank Limited v. Mr. Gutti Balaji

Case brief

What is this about?

What did the court decide?

M/S. Yes Bank Limited v. Mr. Gutti Balaji

Case brief

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