Allowed

M/S. Yes Bank Ltd. v. M/S. Kiran Granites and Minerals

DRT10 Nov 2025OA/357/2025

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal-II allowed the Original Application filed by Yes Bank Ltd. against M/s. Kiran Granites and Minerals and Mrs. Pokala Jayamma for recovery of Rs. 29,23,080.72. Overruled the initial point raised but applied the evidence to declare defendants jointly and severally liable for the debt, future interest, and costs. Granted a recovery certificate.

What did the court decide?

Debtors directed to pay Rs.29,23,080.72 with future interest at 18% p.a. and costs. Recovery certificate issued. Right to proceed against hypothecated vehicle and other properties granted.

M/S. Yes Bank Ltd. versus M/S. Kiran Granites and Minerals — Banking and Recovery | DRT (2025)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD

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DATED THIS THE l OTII DAY OF NOVEMBER, 2025

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PRESENT: SH. RAMESHWAR KOTHE, B.Com., L.LB. (Hons,), M.A.

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PRESIDING OFFICER

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ORIGINAL APPLICATION No: 357 OF 2025

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N4ls. YES Bank Ltd., 2nd Floor, H. No.1-8-387 Agravanshi Plaza, HUDA Lane S.P Road, Secunderabad - 500003. Rep. by its Authorized Signatory.

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.... .Applica nt.

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Versus

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M/s. Kiran Granites and Minerals., Represented by its Proprietor Mrs. Pokala Jayamma, Plot No.121 Edulapuram, Ground Floor, Khammam Telangana - 507163.

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Mrs. Pokala Jayamma, Wo.Mr.Lingaiah Plot No.121, Aditya Nagar, Near HP Gas, Edulapuram, 1't Floor Gandhi Chowk, Khammam Telangana - 507003.

¶11

... Defendants

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Counsel for the Applicant

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: M/s. N. B. Sudarshan

Defendants

:Ex-parte

:: qLLE& ::

The Applicant Bank filed the present OA for the recovery a total sum of Rs.29,23,080.72ps from the defendants^jolntly and severally with future interest @18o/o p.a. from the date of application till the date of realization along with costs and ln defautt for sate of hypotheca teO venictel/.r\to

¶18

oA.NO.3s7l202s

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Summons served on^{D1 and 2 throughpaper publication.They} were set ex-parte on 04.09.2025^{as called absentand no} representation.

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The Applicant Bank examined^{Sai 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. 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 entitled 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 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 Defendants'} Hence, I hold that the Defendants are^{jointlyand severallyliable} to pay the OA claim to the Applicant^{Bank with futureinterest} and costs.

¶25

In the result, the^present Original^{Application No.35712025 is} allowed as under:^-

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i) The Defendants are^jointly and severa lly liable to pay to the Applicant Bank a sum of Rs.29,23,080.72ps with,^ future interest ''ttq

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oA.NO.3s7l202s

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@160lo P.a.^{simPle from the date of} application till the date^{of realization;}

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ii) the OA clalm is^{secured bY way of} hypothecation of vehicle^{described in the} schedule annexed to the^{OA and the} applicant bank^{is entitledto 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^propertiesof defendants for^{realization of its dues;}

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iv) the applicant^{bank is entitledfor the costs'}

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The Applicant Bank^{is directed to file Cost Memo within2 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,^{signedand pronouncedbymein the open court on} this the loth^{Day of November, 2025)'}

¶35

,ffiWx#,, PRESIDING^OFFICER

M/S. Yes Bank Ltd. v. M/S. Kiran Granites and Minerals

Case brief

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M/S. Yes Bank Ltd. v. M/S. Kiran Granites and Minerals

Case brief

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