Allowed

Yes Bank Limited v. Puri Bath Care and another

DRT26 Nov 2025OA/680/2025

Case brief

AI extract

What is this about?

An Applicant (Bank) filed an Original Application for recovery of an outstanding NPA loan against Proprietors and the business enterprise. The Tribunal, after hearing ex-parte arguments and finding the case established, dismissed the claim for 28% interest and granted recovery of principal plus 8% simple interest with a duty to encash assets.

What did the court decide?

Recovery of Rs. 24,63,840.98 jointly and severally with costs and simple interest at 8% p.a.; issuance of Recovery Certificate.

Yes Bank Limited versus Puri Bath Care and another — Banking and Recovery | DRT (2025)

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DEBTS RECOVERY TRIBUNAL-III, CHANDIGARH

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ORIGINAL APPLICATION NO.680/2025

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PRESIDED OVER BY MRIDULESH KUMAR SINGH

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DATE OF INSTITUTION: 16.05.2025

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DATE OF DECISION: 26.11.2025

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YES BANK LTD, a Banking company incorporated under the Companies Act, 1956 and carrying on banking business under the Banking Regulation Act, 1949 having its Registered Office at Yes Bank House, Western Express Highway, Santacruz (East) Mumbai-400055, Regional office: SCO No. 129-130, 2^nd Floor, Sector 9-C, Near CITCO Petrol Pump, Chandigarh -160009, through Sh. Aashiv Bhayana, Authorized Officer, Legal Department.

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……..Applicant

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Versus

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Puri Bath Care, Purian Street, Sultanpur Lodhi, District Kapurthala – 144626, through its Proprietor

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2^nd Address S-213, First Floor, Shakti Market, Industrial Area, Jalandhar

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Sh. Nitan Puri son of Sh. Ashok Kumar, Resident of Mohalla Purian, Sultanpur Lodhi, District Kapurthala - 144626.

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….……Defendants

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Advocates:

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Argued by Ms. Seerat Sharma, Advocate, proxy for Sh. Nakul Sharma, Advocate for Applicant.

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Defendants already ex-parte

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FINAL ORDER

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Present Original Application was instituted by the applicant under Section 19 of the Recovery of Debts & Bankruptcy Act 1993, against the defendants for recovery of Rs.24,63,840.98p (Rupees Twenty Four Lacs Sixty Three Thousand Eight Hundred Forty & Paise

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Ninety Eight Only). The Original Application has been filed through Sh. Aashiv Bhayana, Authorized Officer of the applicant, who is

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2 OA/680/2025 YES BANK LTD. VS PURI BATH CARE AND ANOTHER

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competent to institute the Original Application vide Power of attorney dated 28.03.2025, which is Annexure A1 to this OA.

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The brief facts of the OA are that the defendant No. 1 through its Proprietor defendant no. 2 had approached the applicant for the grant of Business Loan of Rs.30.00 Lacs vide Loan applications dated 23.09.2023, which are Annexures A2 to A4 to this OA. 3. The applicant Bank sanctioned the Business Loan of Rs.30.00 Lacs and terms and conditions were duly accepted by the defendants. Loan agreement dated 12.10.2023, is Annexure A6 to this OA. Documents executed :- GST Registration Certificate, which is Annexure A5 to this OA; Recall notice dated 06.12.2024, which is Annexure A7 to this OA and Account statement along with foreclosure , which are Annexures A8 & A9 to this OA.

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The loan account became irregular and was classified as NPA and after adjusting debit and credit entries in loan account there was a debit of Rs.24,63,840.98p, which is recoverable and the defendants were served recall notices but they did not repay the outstanding amount, therefore, the applicant requested to accept the application and to issue Recovery Certificate accordingly.

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The defendants were served notices to appear before this Tribunal but no one appeared on behalf of defendants and they were proceeded ex-parte on 21.11.2025.

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In support of the OA, affidavit of Sh. Aashiv Bhayana, Authorized Officer, Yes Bank Ltd. has been filed.

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Heard ex-parte arguments and perused record.

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It was argued by learned Proxy counsel that in view of the documentary evidence brought on record which had gone unrebutted, the applicant had proved its case. From the perusal of all the Annexures A1 to A9 to this OA, it is proved that the defendants approached applicant for availing of the loan facility which was granted to them and for that they had executed all the relevant documents in favour of the applicant. The defendants failed to pay back the loan as

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3 OA/680/2025 YES BANK LTD. VS PURI BATH CARE AND ANOTHER

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per terms and conditions of the agreement between the parties. Subsequently, account of the defendants was classified as NPA. From the documentary evidence brought on record, it is proved that applicant is entitled to recover a sum of Rs.24,63,840.98p (Rupees Twenty Four Lacs Sixty Three Thousand Eight Hundred Forty & Paise Ninety Eight Only) along with interest from the defendants, jointly and severally, from the date of filing of the present Original Application till realization of the account.

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In so far as pendente lite and future rate of interest is concerned, the applicant in relief clause has claimed interest @20% p.a. with 2% penal interest with monthly rests from 11.04.2025 till the realization.

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The Tribunal is of the considered opinion that sometimes in appropriate cases the prerogative of mercy is the brightest jewel in the crown of the Judge. Keeping in view the facts and circumstances of the instant case including nature of the mortgaged property/hypothecated assets, undertaking of the defendants, quantum of loan and prevalent market rates of interest which have gone drastically downhill in yester years, while exercising the discretion vested in this Tribunal, this Tribunal deems it just and appropriate to grant uniform simple interest @8.00%p.a. along with interest from the defendants, jointly and severally, from the date of filing of the present Original Application till realization of the accounts.

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In the result, the application is allowed declaring that the defendants are liable to pay to the applicant a total sum of Rs.24,63,840.98p (Rupees Twenty Four Lacs Sixty Three Thousand Eight Hundred Forty & Paise Ninety Eight Only) jointly and severally, with costs, current and future simple interest @8.00%p.a. in the loan account from the date of filing of OA till the date of realization of the amount. Accordingly, the applicant shall be entitled to recover aforesaid amount by attachment and sale of personal assets of the

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4 OA/680/2025 YES BANK LTD. VS PURI BATH CARE AND ANOTHER

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defendants. The applicant is at liberty to enforce the claim through due process of law.

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11. Any other application pending stands disposed of. 12. Issue Recovery Certificate accordingly. 13. Parties to appear before Learned Recovery Officer of this Tribunal on 06.12.2025. 14. Copy of this order be given dasti to the applicant and be sent to defendants through registered/speed post and this order be also uploaded on the official website of this Tribunal and record be consigned.

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Pronounced by me in the open Tribunal . Dated: 26.11.2025

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(MRIDULESH KUMAR SINGH) Presiding Officer, DRT-III, Chandigarh

Yes Bank Limited v. Puri Bath Care and another

Case brief

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Yes Bank Limited v. Puri Bath Care and another

Case brief

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