Allowed

M/S. Yes Bank Limited v. M/S. Moparthy Bhavani

DRT17 Jun 2025OA/32/2024

Case brief

AI extract

What is this about?

The Tribunal allowed Original Application No. 32/2024 filed by Yes Bank Limited for recovery of Rs. 33,75,093.16ps with interest. Finding defendants liable ex-parte, the Bank was directed to receive payment and exercise its rights over the hypothecated vehicle.

What did the court decide?

Defendants to pay Rs. 33,75,093.16ps with interest; Bank entitled to proceed against hypothecated vehicle and defendant properties; Recovery Certificate issued.

M/S. Yes Bank Limited versus M/S. Moparthy Bhavani — Banking and Recovery | DRT (2025)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDEMBAD DATED THTS THE 17TH DAY OF JUNE, 2025

¶2

PRESENT: SH. RAMESHWAR Ko. o*u.rorrl'ot;8....ofl^{., L. LB.(Hons.), M.A.}

¶3

ORIGINAL APPLICATION No: 32 OF 2024

¶4

M/S.YES Bank Limited.. office at 1-8-387, 2ND Ftoo. Agravanshi plaza, HUDA Lane_ 5.P.Road, Secunderabad _ soboo3. Rep. by its Authorized Signatory.

¶5

.....Applicant.

¶6

Versus

¶7

M/s. Moparthy Bhavani, D/o.Mr. Ramarao yanamadala, P.No. 75, F.No. 106, comforr Landmark, Bandari Layout Road No.9, f'lizam pei.'^{- --'} Kurangareddy, Hyderabad_500090.

¶8

Also at:-

¶9

M/s. Moparthy Bhavani, D/-o.Mr. Ramarao yanamadala, R.No.576, Shop No.4, Municipat No.t2622t7o, tg c4, DK Reddy Towers, Kukatpally, Hyderabad - 500090.

¶10

Mr. Moparthy phani Kumar, S/-o.Mr.M.Nageswara Rao, 5'" Floor, Block A, Lapalazzo Apartment, Seinivasa Hills, Madhapur, Hyderabad - 500081.

¶11

... Defenda nts

¶12

Counsel for the Applicant

:[4/s.N.B.Sudarshan

Defendants

I Ex-pafte /fu1.f

oA.NO.32l2024

:: ORDER^::

The Applicant^{Bank filed the presentOA for the recovery a total} sum of^{Rs.33,75,093 ' 16ps from the defendantsjointlyand} severally^{with future interest @16 O4vop a' from the dateof} application^{till the date of realization along with costs and in} default^{for sale of hypothecatedvehicle'}

¶20

paPer PUblication'^TheY

¶21

1. Summons^{served on D1 and 2 through} called absent^{and no}

¶22

were set ex-Parte^{on 10 01'2025as} representation'

¶23

The APplicant^{Bank examined Gudivada Pavan Kumar' Legal} Manager,^{as AW-1and marked07 documentsthrough himas} Ex. A.1 to^{Ex. A.07}

¶24

Ld. Counsel^{for the Applicant Bank reported orders may be} passed through^{merits'Perused the material placed on record'}

¶25

¶26

The^{point that arises for considerationis:-}

¶27

whether the^{Applicant Bank is entitled} for the^{claim madein the OA against} the Defendants^{and OA hYpothecated} vehicle?

¶28

As stated supra,^{the Defendants remained ex-parte The} Evidence Affidavit^{coupledwlth the recitalsin the documents} viz., Exs. A.1 to^{A.07 markedon behalfof the Applicant Bank} clinches the^{claim of the Applicant Bank against the Defendants'} Hence, I hold that^{the Defendantsare jointlyand severally liable} to pay the OA claim to^{the ApplicantB%twith.futureinterest} and costs. 19tx"ntJt.-

¶29

oA.NO.32l2024

¶30

In the result, the present Original Application No.32/2024 is allowed as under: _

¶31

i) The Defendants are joinUy and severally liable to pay to the Applicant Bank a sum of Rs.33,75,093.16ps with future interest @10olo p.a. simple from the date of application till the date of realization;

¶32

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 entifled to proceed against the same to realise its debt;

¶33

iii) the applicant bank is also entiUed to proceed against the person and properties of defendants for realization of its dues;

¶34

iv) the applicant bank is entifled for the costs.

¶35

B. The Applicant Bank is directed to flle Cost Memo within 2 weeks from the date of receipt of this Order.

¶36

Issue Recovery Certificate accordingly.

¶37

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 17th Day ofJune,2025).

¶38

PRESIDING OFFICER

M/S. Yes Bank Limited v. M/S. Moparthy Bhavani

Case brief

What is this about?

What did the court decide?

M/S. Yes Bank Limited v. M/S. Moparthy Bhavani

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

Coram

Case details

Similar cases

Hdfc Bank Ltd. versus M/S. K K Eywear

M/S. Punjab National Bank versus M/S. Umadevi Pharmaceuticals Private Limited

Punjab National Bank versus Sri Kandada Manaiah

State Bank of India versus M/S. Saraswathi Traders

Hdfc Bank Ltd. versus M/S Sri Gokula Garments

M/S. Yes Bank Ltd., versus Mr. Nasarla Lingaiah