Allowed

Yes Bank Limited v. Bhupathi Chandu

DRT9 Apr 2025OA/86/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the applicant bank's original application seeking recovery of Rs. 26,06,542.17 plus interest and costs from the respondent-defendants, joint and several liability, who remained ex-parte.

What did the court decide?

Defendants jointly and severally liable to pay Rs. 26,06,542.17 with future interest; claim secured by hypothecated vehicle; Recovery Certificate issued.

Yes Bank Limited versus Bhupathi Chandu — Banking and Recovery | DRT (2025)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD DATED THIS THE Ogth DAY OF APRIL, 2025 PRESENT: SH. RAMESHWAR KOTHE, B.Com., L.LB. (Hons.), M.A. PRESIDING OFFICER

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ORIGINAL APPLICATION No: 86 OF 2024

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M/s.YES Bank Limited., Office at 1-B-387, 2ND Floor, 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.Bhupathi Chandu,

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S/o. Mr. Bhupati Srinivas,

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H.No.2-3-47 4/18, Raghunath

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Nagar, Near Maisamma Temple, Amberpet, Hyderabad - 500013.

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Mrs.Bhupathi Renuka, D/o.Mr.Ara Narsimha,

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H.No.2-3-47 4/18, Raghunath Nagar, Near Maisamma Temple, Amberpet, Hyderabad - 500013.

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... Defendants

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Counsel for the Applicant

Defendants

: M/s.N.B.Sudarshan

: Ex-parte

:: ORDER ::

The Applicant Bank filed the present OA for the recovery a total sum of Rs.26,06,542. 17ps from the defendants jointly and severally with future interest @1Bolo p.a. from the date of ' .': ,'.^'

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oA.NO.85/2024

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application^{till the date of realization along with costs and in} default^{for sale of hypothecatedvehicle'}

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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-parte on 27} '09'2024^aS representation.

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.1, The Applicant^{Bank examinedD'Shyam Kumar Reddy'Legal} Manager,^{as AW-1and marked 07 documentsthrough himas} Ex. A.1 to^{Ex. A.07'}

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Ld. Counsel^{for the Applicant Bankreported ordersmay be} passed through^{merits. Perused the material placed 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^{made in the OA against} the Defendants^{and OA hYpothecated} vehicle?

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As stated supra,^{the Defendants remained ex-parte The} Evidence Affidavit^{coupledwith the recitalsin the documents} viz., Exs. A.1 to^{A.07 markedon behalf of the Applicant Bank} clinches the^{clalm of the Applicant Bank against the Defendants'} Hence, I hold^{that the Defendants are jointlyand severallyliable} to^pay the OA^{claim to the Applicant Bank with futureinterest} and costs.

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In the result,^{the present Origlnal ApplicationNo'86/2024 is} allowed as under:^-

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i) The Defendants are^{jointly and severally} liable to^pay to the^{Applicant-panka sum of} ru''"e

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oA.NO.86/2024

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Rs.26,06,542.17ps with future^interest @10.45olo^{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 vehicle described in^the schedule annexed to the OA and^the applicant bank is entitled to^{proceed against} the same to realise its debt;

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iii) the applicant bank is also entitled to^proceed against the^person and^propertiesof defendants for realization of^{its dues;}

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

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B. The Applicant Bank is directed to file Cost^{Memo within2 weeks} from the date of receipt of this Order.

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q 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 09th Day of April, 2025).

¶39

ESHWAR KOTHE) PRESIDING OFFICER

Yes Bank Limited v. Bhupathi Chandu

Case brief

What is this about?

What did the court decide?

Yes Bank Limited v. Bhupathi Chandu

Case brief

What is this about?

What did the court decide?

What the court decided

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