Allowed

M/S. Yes Bank Limited v. M/S. Naveen Krishna Pratap Goud Agencies

DRT17 Jun 2025OA/409/2024

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed the bank's original application for recovery of a dues sum against defaulting corporate and individual proprietors, finding them jointly and severally liable based on ex-parte evidence and hypothecation of assets.

What did the court decide?

Defendants jointly and severally liable to pay Rs.54,16,992.93 with future interest @9.35% p.a.; OA claim secured by hypothecation of assets; entitlement to proceed against person and properties of de

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

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IN THE DEBTS RECOVERY TRIBUNAL.II AT HYDEMBAD DATED THIS THE 17TH DAY OF JUNE, 2025 PRESENT: SH. RAMESHWAR KoTHE, B.com., L.LB. (Hons.), M.A. PRESIDING OFFICER

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ORIGINAL APPLICATION No; 409 OF 2024

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M/s. YES Bank Limited.. Office at 1-8-387 , 2"d Fioor. Agravanshi^plaza, HUDA Lane. S.P.Road, Secunderabad _ 506003. Rep. by its Authorized Signatory.

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.....Applicant.

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Versus

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M/s. Naveen Krishna pratap Goud Agencies., Rep by its Proprietor I.4 r.A. Naveen Kumar, Office_at 6-2-976 /2/GF, Ground Ftoor, Near Indira^park, Raj Bhavan Road, Khairatabad, Hyderabad _ 5OOOO4.

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Also at:45-730/ 1, Basavanna Gadda, Sawaigudem, Wanaparthy, Mahabub Nagar District _ 5O9t03.

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Mr.A.Naveen Kumar, S/o.A.pratap Reddy, Aged about 34^years, Occ: prop. Of lvlls. Naveen Krishna pratap Goud Agencies., ar 6-2-976/2/cF, Ground Floor, Near Indira park, Raj Bhavan Road, Khairatabad, Hyderabad - 500004.

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Also at:45-73O/1, Basavan na Gadda, Sawaigudem, Wanaparthy, Mahabub Nagar District - 509103.

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.,.Defendants

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Counsel for the Applicant : M/s. M.Srinivas Reddy Defendants . Ex_Paftey'fu{vf

oA.NO.409/2024

:: ORDER^::

The Applicant^{Bank filed the present OA for the recovery a total} sum of^{Rs.54,16,992 93ps from the defendantsjointly and} severally^{with futureinterest@18o/op acompoundedwith} monthly^{rests frcm 21'02'2074till the date of realizationalong} with costs^{and in default for sale of hypothecated assets'}

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paper PUblication.^TheY

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

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were set^{ex-Pafteon 06 02 2025as} representation.

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The Applicant^{Bank examined K Sai PavanGudivada'Legal} Manager,^{as AW-1and marked 18 documentsthrough himas} Ex. A.1 to^{Ex. A'18.}

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Ld. Counsel^{for the ApplicantBank reported orders may be} passed through^{merlts. Perused the materialplaced 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} assets?

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As stated^{supra, the Defendants remained ex-parte'The} Evidence Affldavit^{coupledwith the recitalsin the documents} viz., Exs. A.1 to^{A.18 markedon behalfof the Applicant Bank} clinches the^{claim of the Applicant Bank agalnst the Defendants'} Hence, I hold that^{the Defendants are jointly and severally liable} to^pay the^{OA claim to the Applicantrgnkwith} -future^interest and costs. 4'Y""*

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oA.NO.4O9l2024

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In the result, the present Original Application No.409/2024 is

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allowed as under: -

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i) The Defendants are joinUy and severally liable to pay to the Applicant Bank a sum of Rs.54,16,992.93ps with future interest @9.35% 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 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 entiiled 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 17th Day of June, 2025).

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OWr'u (Rh(ESHWAR KOTHE) PRESIDING OFFICER

M/S. Yes Bank Limited v. M/S. Naveen Krishna Pratap Goud Agencies

Case brief

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M/S. Yes Bank Limited v. M/S. Naveen Krishna Pratap Goud Agencies

Case brief

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