Allowed

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

DRT17 Jun 2025OA/43/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an Original Application filed by Yes Bank Ltd. for recovery of dues from two defendants who remained absent. The court held the defendants jointly and severally liable to pay the claimed amount with future interest and costs.

What did the court decide?

Payment of Rs.86,91,433.49 with future interest and costs; direction to file cost memo; issuance of recovery certificate.

M/S. Yes Bank Ltd., versus Mr. Nasarla Lingaiah — Banking and Recovery | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD

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DATED THIS THE 17TH DAY OF JUNE/ 2025

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PRESENT: SH. MMESHWAR KoTHE, B.Com., L.LB. (Hons.), M.A. PRESIDING OFFICER

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Original Application No: 43 OF 2024

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M/s. 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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...Applicant

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Versus

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Mr. Nasarla Lingaiah, 1 12, Mote, Hussainabad, Mothey Mandal, Nalgonda, Telangana - 508212.

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Mrs. Nasarla^yallamma,

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H. No.112, Mote, Hussainabad, Nalgonda, Telangana - 508212.

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...... Defendants

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Counsel for the Applicant

:1.4/s.N.B.Sudarshan

Defendants

: Ex-parte

:: ORDER ::

The Applicant Bank filed the present OA for the recovery of a sum of Rs.86,91,433.49ps from the defendants joinuy and severally with future interest @180/o p.a. compounded with monthly rests from 19.09.2023 till the date of realisauon along with costs.

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Summons served on D1 and 2 through paper publication. They were set ex-parte on tl.72.2024 4 uras calleru||. d absent and no re op re sentation. /,l.is.Jj.dj'o

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oA.No.43/2024

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The Applicant^{Bankexamined GudivadaPavan Kumar' Legal} Manager^{as AW-1 and marked29 documentsthrough him as Ex'} A.1to^{Ex. A'29.}

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Ld. Counsel^{for the Applicant Bank stated orders may be passed on} merits and^{perusedthe materialplacedon record'}

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The^{polnt that arises for considerationis:-}

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Whether^{the Applicant Bank is entitledfor} the claim^{made in the OA againstthe}

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Defendants?

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As stated^{suPra, the Defendantsremained ex-parte' The Evidence} Affidavit^{coupled with the recitals in the documents viz} '^{Exs'A'1 to} A.29 marked^{on behalf of the Applicant Bank clinches the claim of} the Applicant^{Bank againstthe Defendants'Hence' I hold that the} Defendants^{are jointly and severallyliable to pay the OA claim to} the APplicant^{Bank with future interestand costs'}

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In the^{result, the present OriginalApplicationNo 4312024 is allowed} as under:^-

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i) The^{Defendants are jointly and severallyliableto pay to} the Applicant^{Bank a sum of Rs'86,91,433'49pswith} future interest @9.89o/o^{p'a' simple,from the date of} application till^{the date of realization;}

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ii) the aPPlicant bank is also entitled^{to proceedagainst} the Person and^properties of^{the defendantfor} realization of its dues;

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iii) the applicant bank is entitled^{for the costs.}

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OYoo'"

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oA.No.43l2024

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B. The Applicant^{Bank is directed to file CostMemo 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'} (oi.r.,.O to the steno., tianscribed^{by him, corrected,signedand pronouncedbyme ln the} open court^{on this the171hday of June, 2025)}

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, a,h*, , .t 16

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(RAMESHWAR KOTHE) PRESIDING^OFFICER

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

Case brief

What is this about?

What did the court decide?

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

Case brief

What is this about?

What did the court decide?

What the court decided

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Issues for consideration

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