Debts Recovery Tribunal allowed Yes Bank Ltd's application for Rs.31.11 lakh. After deducting recovery charges, ordered repayment of Rs.29.39 lakh plus 9% simple interest from filing date, with recovery via vehicle auction.
Defendants to pay Rs.29,39,489 with 9% simple interest; vehicle to be sold for recovery; Recovery Certificate issued.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
Presented on: 03.03.2022 Registered on: 18.05.2022 Decided on: 22.01.2025 Duration: Y M D 02 10 15
IN THE DEBTS RECOVERY TRIBUNAL AT PUNE (Before Shri Dilip G Murumkar, Presiding Officer) ORIGINAL APPLICATION No.551/2022.
Yes Bank Ltd .
A Banking Company within the meaning of Section 5 C of the Banking Regulation Act, 1949 and constituted under Companies Act, 1956, having its registered Office at 9th Floor, Discovery of India, Nehru Centre, Dr. Annie Besant Road, Worli, Mumbai - 400 018 and Branch office amongst others at Erandawana Branch, Pune 410 004.
… Applicant
Versus
1. Mr. Javed Islam Shaikh
2. Mrs. Shabiba Javed Shaikh Both R/at- Chikhli-Akurdi Road, Sant Krupa Nagar, Vitthal Temple Chikhali Bk. Chikhali, Pune-412 114 … Defendants
APPEARANCES
For the Applicant Mr. Pradip Yadav – Advocate For the Defendants Ex-parte.
TOTAL CLAIM AMOUNT –Rs.31,11,613.81 Ps.
(OA No.551/2022)
Page 1 of 5
[ANIL]
JUDGMENT
(Delivered on 22nd January, 2025)
Defendant No.1 and Defendant No.2 being borrower and Co-borrower respectively had applied for Commercial Vehicle Loan with the Applicant Bank. Relying on the representations made by the defendants, the Applicant Bank has sanctioned and disbursed a Construction Equipment Loan of Rs.31,15,820/- to the Defendants, on certain terms and conditions.
In order to secure above mentioned Commercial Vehicle Loan, defendants executed Commercial Loan Agreement, necessary loan transactions and security documents. Further, defendants hypothecated Commercial Vehicle Ashok Leyland 4218 bearing RTO Registration No.NL-01-AE-1288, in favour of the Applicant Bank, as mentioned in Para No.5.3 of the Original Application.
(OA No.551/2022)
Page 2 of 5
[ANIL]
So also, to secure the repayment of said Loan, the Defendants have kept First and Exclusive Charge of Commercial Vehicle Ashok Leyland 4218 bearing RTO Registration No.NL-01-AE-1288, in favour of the Applicant Bank vide Loan Agreement dated 30.10.2019.
Hence, this application is filed.
(OA No.551/2022)
Page 3 of 5
[ANIL]
(OA No.551/2022)
Page 4 of 5
[ANIL]
ORDER
Place : Pune Date : 22.01.2025
Sd/( Dilip G Murumkar) Presiding Officer Debts Recovery Tribunal, Pune.
(OA No.551/2022)
Page 5 of 5
[ANIL]
2 issues framed by the court
Whether to recover the principal amount and future interest on commercial vehicle loan from defaulting borrowers.
Whether to reject bounced cheque charges and reduce future interest rate for equity.
Yes Bank Ltd
Dilip G Murumkar
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
