Allowed

Yes Bank v. Vikas Gurjar

DRT12 Dec 2025OA/811/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the Original Application filed by YES Bank Limited for recovery of Rs. 28,58,435.57 from two borrowers who defaulted on a construction equipment loan. The court jointly and severally liable the respondents for the principal, interest, and costs, and directed the issuance of a recovery certificate.

What did the court decide?

Recovery certificate issued for Rs. 28,58,435.57 with future interest @ 10.04% p.a., directable to be recovered from sale of hypothecated assets or personal properties.

Yes Bank versus Vikas Gurjar — Contract and Commercial Disputes | DRT (2025)

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“ORIGINALAPPLICATION” No. 811 of 2024

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BEFORE THE DEBTS RECOVERY TRIBUNAL, JAIPUR

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PRESENT- SHRI VIMAL GUPTA

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PRESIDING OFFICER

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O.A. NO. 811 OF 2024

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DATE OF DELIVERY OF ORDER 12.12.2025

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YES Bank Limited , Branch office at: Plot No. 307, Fourth Floor, Anand Bhawan, Sansar Chandra Road, Chokri Haveli, Jaipur-302001 through Authorized Signatory.

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…..Applicant Bank…..

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VERSUS

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1. Mr. Vikas Gurjar S/o Ramkishor Gurjar, Add :- 15, Gurjro Ka Mohalla, Heerapura, Opp. Panchayat Bhawan, Th. Phagi, Jaipur-303904 Rajasthan.

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2. Mrs. Kali Devi W/o Ramkishor Gurjar, Add :- 15, Gurjro Ka Mohalla, Heerapura, Opp. Panchayat Bhawan, Th. Phagi, Jaipur- 303904 Rajasthan.

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……Defendants…..

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Counsel for the Applicant Bank Sh. Avinash Kumbhaj Defendants None

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None

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JUDGMENT

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This Original Application was filed by the applicant bank on 15.04.2024 for recovery of outstanding amount of Rs. 28,58,435.57/- from the Defendants.

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Order signed & uploaded on 15.12.2025.

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OA No. 811 of 2024

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Counsel for the Applicant Bank submitted that the defendant no. 1 is Applicant and the defendant no. 2 is Co Applicant. The defendant no. 1 approached the applicant bank and submitted loan application form for sanction of Construction Equipment / Vehicle / Machine Loan for a total sum of Rs. 30,09,451/- for purchase of the Construction Equipment - Hypothecation of Construction Equipment/Vehicle/ Machine JCB 3DX, Engine No. H00361584, Chassis No. RAJ3DXINE03232053, Reg. No. RJ47EA0441. The application forms along with KYC documents and declarations submitted by the defendants are annexed herewith. Applicant bank considering the applications of Defendants and on their request granted Construction Equipment/Vehicle / Machine(s) Loan in the loan account no. CEL002401448790 to the defendants on 23.01.2023 subject to the term and conditions mentioned in the Construction Equipment / Vehicle / Machine Loan Agreement dated 23.01.2023 which was duly accepted and signed by the Defendants.

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It is submitted that the said Construction Equipment/ Vehicle/ Machine Loan of total sum of Rs. 30,09,451/- in account no. CEL002401448790 was sanctioned to the defendants at the interest 10.04% p.a. and the same was to be repaid by the defendants to the applicant bank in 59 Equitable Monthly Installment (EMI) of Rs. 65,200/- along with interest and charges as agreed. The first EMI was commenced from 15.03.2023 and the last EMI was payable on 15.03.2024.

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Order signed & uploaded on 15.12.2025.

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OA No. 811 of 2024

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It is submitted that in due compliance of the terms and conditions stated in the Loan Agreement and in order to secure repayment of the Construction Equipment / Vehicle / Machine Loan of Rs. 30,09,451/- in account no. CEL002401448790 and dues, if any arising thereunder, defendants duly executed, signed and delivered the loan and security documents in favour of applicant bank on 23.01.2023.

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It is submitted that defendants committed default in making payment of the financial facility as per the terms and conditions of Loan Agreements and other loan documents. Applicant bank is legally entitled to recover the principal and interest amount and all other dues including additional interest as per the terms and conditions of the Loan Agreement.

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It is submitted that due to the default committed by the defendants, applicant bank sent loan recall notice to the defendants on 07.12.2023 to pay the dues of applicant bank. It is submitted that despite receipt of the said notice defendants didn't make payment to applicant bank and thus applicant bank is entitled to claim the amount due to defendants. It is submitted that the applicant bank charged the interest/penal/additional interest as per the terms and conditions executed and accepted by defendants in respect of the loan account.

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It is submitted that the amount of claim under the present Original Application has been availed and utilized by the

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Order signed & uploaded on 15.12.2025.

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OA No. 811 of 2024

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defendants, which was admitted by the defendants by executing various loan and security documents, Law of Limitation does not bar any part of the claim made by the applicant bank in the present original application as the Original Application has been filed within the prescribed period of limitation as per the provisions of law.

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It is submitted that for filing the present original application, cause of action arose when the defendants executed the various security documents in favour of the applicant bank on 23.01.2023 and failed to repay the loan amount to the applicant bank, when the defendants failed to maintain financial discipline, applicant bank served the recall notices on 07.12.2023, but the defendants have not repaid the dues and since then, cause of action has been arising continuously as interest is accruing each day. Cause of action will continue to arise till realization of the entire dues from defendants along with up-to-date interest and incidental charges, expenses, etc.

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It is submitted that a bare perusal of the account statement reveals that defendants are liable to pay to the applicant bank the total amount of Rs. 28,58,435.57/- due as on 01.04.2024 in loan account no. CEL002401448790 and thereafter applicant bank is legally entitled to recover the charges the pendente lite and future interest on the above mentioned amount at the rate agreed and as per security documents executed by the defendants till date of payment.

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Order signed & uploaded on 15.12.2025.

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OA No. 811 of 2024

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10.Defendants failed to maintain financial discipline and therefore, their loan account was classified as NPA. Applicant Bank has therefore, filed this original application for recovery of its dues against the Defendants.

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11.Summons were issued to the Defendants on 02.07.2024. Counsel for the Applicant Bank filed postal receipts and daily Hindi newspaper and presumption of service was drawn against Defendants. The Court Commissioner was appointed for Dasti summons and he filed his report 08.09.2025.

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12.The said commissioner submitted in his report that defendants were not presented and hypothecated machine was also not found at their premises. He submitted that family members who were present there behaved in a hostile and aggressive manner and refused to accept summons.

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13.Heard arguments and perused the record.

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14.Bank is directed to lodge FIR against the defendants and family members.

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15.As stated supra, the Applicant Bank filed the evidence affidavit of Shri Mukesh Kumar Yadav coupled with the recitals in the documents, viz Exhibit A/1 to A/7 marked on behalf of the applicant bank, clinches the claim of the applicant bank against the Defendants. Hence, I hold that the Defendants are jointly & severally liable to pay to the applicant bank the claim made in O.A. with future interest and costs.

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Order signed & uploaded on 15.12.2025.

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OA No. 811 of 2024

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16.In the result, this O.A. No. 811 of 2024 is allowed declaring that:-

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a) After perused the record, it is found that service had already been done through Registered Post and Publication. The Court Commissioner was appointed for Dasti service but family members of the Defendants misbehaved with the advocate commissioner and refused to accept the summons. Defendants are well aware of the matter pending before this Tribunal.

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b) The case of Bank is proper.

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c) The Defendants are jointly & severally liable to pay to the applicant bank a sum of Rs. 28,58,435.57/(Rupees Twenty Eight Lac Fifty Eight Thousand Four Hundred Thirty Five and Fifty Seven Paisa only) with pendente lite and future interest @ 10.04% p.a. from till the date of realization.

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d) The applicant bank is entitled to recover the above amount from the sale of hypothecated assets – 1) JCB 3DX, Engine No. H00361584, Chassis No. RAJ3DXINE03232053, Reg. No. RJ47EA0441 as well as from the personal movable and immovable properties/assets of Defendants. The applicant bank is entitled to proceed against the same towards recovery of its debt.

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e) The applicant bank is entitled to the costs of the O.A.

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Order signed & uploaded on 15.12.2025.

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OA No. 811 of 2024

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17.The recovery certificate be issued forthwith and be sent to the Recovery Officer, DRT, Jaipur.

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18.Parties are directed to appear before the Recovery Officer, DRT, Jaipur on 21.01.2026 .

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19.Prepare Recovery Certificate accordingly.

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20.A copy of the Judgment and Recovery Certificate be given or sent by registered post to each of the parties free. A copy of the Recovery Certificate be sent to the Recovery Officer of this Tribunal for necessary action as per the law.

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(Vimal Gupta) Presiding Officer, Debts Recovery Tribunal, Jaipur

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Order pronounced in the open court today i.e. 12.12.2025 .

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(Vimal Gupta) Presiding Officer, Debts Recovery Tribunal, Jaipur

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Order signed & uploaded on 15.12.2025.

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OA No. 811 of 2024

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BEFORE THE DEBTS RECOVERY TRIBUNAL, JAIPUR

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PRESENT- SHRI VIMAL GUPTA

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PRESIDING OFFICER

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O.A. NO. 811 OF 2024

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DATE OF DELIVERY OF ORDER 12.12.2025

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RECOVERY CERTIFICATE

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(UNDER SUB Section 22 of the Recovery of Debts due to Banks and Financial Institutions Act, 1993 (Act 51 of 1993)

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YES Bank Limited , Branch office at: Plot No. 307, Fourth Floor, Anand Bhawan, Sansar Chandra Road, Chokri Haveli, Jaipur-302001 through Authorized Signatory.

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…..Applicant Bank…..

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VERSUS

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1. Mr. Vikas Gurjar S/o Ramkishor Gurjar, Add :- 15, Gurjro Ka Mohalla, Heerapura, Opp. Panchayat Bhawan, Th. Phagi, Jaipur-303904 Rajasthan.

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2. Mrs. Kali Devi W/o Ramkishor Gurjar, Add :- 15, Gurjro Ka Mohalla, Heerapura, Opp. Panchayat Bhawan, Th. Phagi, Jaipur- 303904 Rajasthan.

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……Defendants…..

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Recovery Certificate for Rs. 28,58,435.57/-

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In terms of final order dated 12.12.2025 passed by this Tribunal in the above mentioned case, it is ordered that the-

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a) After perused the record, it is found that service had already been done through Registered Post and Publication. The Court Commissioner was appointed

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Order signed & uploaded on 15.12.2025.

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OA No. 811 of 2024

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for Dasti service but family members of the Defendants misbehaved with the advocate commissioner and refused to accept the summons. Defendants are well aware of the matter pending before this Tribunal.

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b) The case of Bank is proper.

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c) The Defendants are jointly & severally liable to pay to the applicant bank a sum of Rs. 28,58,435.57/(Rupees Twenty Eight Lac Fifty Eight Thousand Four Hundred Thirty Five and Fifty Seven Paisa only) with pendente lite and future interest @ 10.04% p.a. from till the date of realization.

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d) The applicant bank is entitled to recover the above amount from the sale of hypothecated assets – 1) JCB 3DX, Engine No. H00361584, Chassis No. RAJ3DXINE03232053, Reg. No. RJ47EA0441 as well as from the personal movable and immovable properties/assets of Defendants. The applicant bank is entitled to proceed against the same towards recovery of its debt.

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e) The applicant bank is entitled to the costs of the O.A.

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Parties are directed to appear before the Recovery Officer, DRT, Jaipur on 21.01.2026 .

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The Recovery Officer shall realize the amount as per this Certificate in the manner and mode prescribed under Section 25 and 28 of the Recovery of Debts Due to Banks and Financial

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Order signed & uploaded on 15.12.2025.

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OA No. 811 of 2024

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Institutions Act, 1993 (as amended from time to time) from the above named Certificate Debtor.

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This Certificate has been issued under my signatures and seal of the Tribunal on this 12.12.2025 .

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(Vimal Gupta) Presiding Officer, Debts Recovery Tribunal, Jaipur

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Order signed & uploaded on 15.12.2025.

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OA No. 811 of 2024

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BEFORE THE DEBTS RECOVERY TRIBUNAL, JAIPUR PRESENT- SHRI VIMAL GUPTA

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PRESIDING OFFICER

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O.A. NO. 811 OF 2024

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DATE OF DELIVERY OF ORDER 12.12.2025

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SCHEDULE TO RECOVERY CERTIFICATE

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MEMO OF COST

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YES Bank Limited , Branch office at: Plot No. 307, Fourth Floor, Anand Bhawan, Sansar Chandra Road, Chokri Haveli, Jaipur-302001 through Authorized Signatory.

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…..Applicant Bank…..

¶109

VERSUS

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1. Mr. Vikas Gurjar S/o Ramkishor Gurjar, Add :- 15, Gurjro Ka Mohalla, Heerapura, Opp. Panchayat Bhawan, Th. Phagi, Jaipur-303904 Rajasthan.

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2. Mrs. Kali Devi W/o Ramkishor Gurjar, Add :- 15, Gurjro Ka Mohalla, Heerapura, Opp. Panchayat Bhawan, Th. Phagi, Jaipur- 303904 Rajasthan.

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……Defendants…..

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Order signed & uploaded on 15.12.2025.

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OA No. 811 of 2024

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S.No.	Item of Costs	Amount (Rs.)
1	Fee on the Application	31,000.00
2	Process Fee (Inc. Publication)	170.00
3	Advocate Fee	1,250.00
4	Court Commissioner’s Fees	10,000.00
5	Commission/Receiver/Valuation	NIL
6	Miscellaneous Charges	NIL
	Total	42,420.00

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(Vimal Gupta) Presiding Officer, Debts Recovery Tribunal, Jaipur

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Order signed & uploaded on 15.12.2025.

OA No. 811 of 2024

12.12.2025

Counsel:

Sh. Avinash Kumbhaj, Counsel for Applicant Bank None for the Defendants

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Judgment dictated separately and pronounced in the open court. As per order the O.A. is allowed. Recovery Certificate be prepared accordingly and the Registry is directed to verify the Recovery Certificate as per Regulation 24(1) and (2) of Debts Recovery Tribunal Jaipur Regulation 2015 and after verification place the same before the Tribunal.

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(Vimal Gupta) Presiding Officer, Debts Recovery Tribunal, Jaipur

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Order signed & uploaded on 15.12.2025.

OA No. 811 of 2024

12.12.2025

Counsel:

Sh. Avinash Kumbhaj, Counsel for Applicant Bank None for the Defendants

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The Tribunal vide order dated 12.12.2025 , directed the Registrar to verify the Recovery Certificate as per Regulation 24(1) and (2) of Debts Recovery Tribunal Jaipur Regulation 2015.

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The Registrar vide order dated 12.12.2025 verified the Recovery Certificate as per Regulation 24(1) and (2) of Debts Recovery Tribunal Jaipur Regulation 2015. Recovery Certificate be prepared accordingly. Copy of the Judgment and Recovery Certificate be given free to the concerned parties as well as be sent to the Recovery Officer for further proceedings. File be put up before the Registrar for compliance. After compliance file be consigned to record.

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(Vimal Gupta) Presiding Officer, Debts Recovery Tribunal, Jaipur

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Order signed & uploaded on 15.12.2025.

Yes Bank v. Vikas Gurjar

Case brief

What is this about?

What did the court decide?

Yes Bank v. Vikas Gurjar

Case brief

What is this about?

What did the court decide?

What the court decided

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