Allowed

Yes Bank Limited v. Vislavath Chitti

DRT7 Mar 2025OA/87/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the applicant bank's original application for recovery of Rs. 27,51,474.65 plus interest and costs. Ruling that the ex-parte defendants are jointly and severally liable, the tribunal upheld the claim secured by a hypothecated vehicle and directed the issuance of a Recovery Certificate.

What did the court decide?

Defendants directed to pay Rs. 27,51,474.65 with 13.50% p.a. simple interest; bank entitled to proceed against hypothecated vehicle and defendants' properties; Recovery Certificate issued.

Yes Bank Limited versus Vislavath Chitti — Contract and Commercial Disputes | DRT (2025)

¶1

IN THE DEBTS RECOVERY TRIBUNAL.II AT HYDEMBAD DATED THIS THE OTth DAY OF MARCH, 2025

¶2

PRESENT: SH. RAMESHWAR KOTHE, B.Com., L.LB. (Hons. ), M.A. PRESIDiNG OFFICER

¶3

ORiGINAL APPLICATION No: 87 OF Zo24

¶4

M/S.YES Bank Limited.. 2nd Floor, H.No.1-g-3gi, Agravanshi^plaza, HUDA Lane. S. P. Road, Secunderabad_5O0O03. Rep. by its Authorized Signatory.

¶5

.....Applica nt.

¶6

Versus

¶7

Mr.Vislavath Chitti, S/o. W/o. Mr.Vistavath Bichhu. H. No.4-32,^pothubanda Thanda,

¶8

K?nduk.ur Mandalam, Sai Reddy Guda, Mucherla, K V Ranga Reddy, Tela ngana - 509358.

¶9

Mrs.Vislavath Bicch u, S/o. M r. Vislavath Laskar, H.No.4-32,^pothubanda Thanda Kandukur rqandatam, Sai neO-O-fi CrOa, Mucherla, K V Ranga Reddv,

¶10

Tela ngana - 50935g.

¶11

...Defendants

¶12

Counsel for the Applicant

¶13

: l4ls. N. B. Sudarshan

Defendants

:Ex-parte

:: ORDER ::

The Applicant Bank filed the present OA for the recovery a total sum of Rs.27,51,474.650s from the defendants jointly and AV'*'q {_,/

¶18

oA.NO.87/2024

¶19

severally^{with futureinterest @18o/o p'a from the date of} application^{till the date of realization along with costs and in} default^{for sale of hyPothecatedvehicle'}

¶20

Summons^{served on D1 and 2 Theywere set ex-parteon} li}.06.20:z4^{as called absent and no representation'}

¶21

The^{Applicant Bank examined D'ShyamKumar Reddy' Legal} Manager,^{as AW-land marked 07 documentsthrough him as} Ex. A.1 to^{Ex. A'07'}

¶22

Heard the^{Ld. Counselfor the Applicant Bank Perused the} material Placed^{on record'}

¶23

The^point that^{arises for considerationis:-}

¶24

Whether the^{Applicant Bank is entitled} for the claim^{made in the OA against} the Defendants^{and OA hypothecated} vehicle?

¶25

As^{stated supra, the Defendants remained ex-parte The} Evidence Affidavit^{coupledwith the recitalsin the documents} viz., Exs.A'l^{to A.O7 marked on behalf of the ApplicantBank} clinches the^{claim of the Applicant Bank against the Defendants'} Hence, I hold^{that the Defendantsare jointlyand severally liable} to^pay the^{OA claimto the Applicant Bank with futureinterest} and costs.

¶26

In the result,^{the presentOrigjlal ApplicationNo'87/2024 is} attowed as^{under: -} ffil r-tn

¶27

oA.NO.87l2O24

¶28

i) The Defendants are^jointly and severally liable to^pay to the Applicant Bank a sum of Rs.27,5t,474.65ps with future interest @13.5olo^p,a. simple from the date^of application till the date of realization;

¶29

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;

¶30

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

¶31

iv) the applicant bank is entitled for the costs.

¶32

B. The Applicant Bank is directed to file Cost Memo within 2 weeks from the date of receipt of this Order.

¶33

Issue Recovery Certificate accordingly.

¶34

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 07th Day of March, 2025).

¶35

'ffii'rv$ (RAMESHWAR KOTHE) PRESIDING OFFICER

Yes Bank Limited v. Vislavath Chitti

Case brief

What is this about?

What did the court decide?

Yes Bank Limited v. Vislavath Chitti

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

Coram

Case details

Similar cases

State Bank of India versus M/S Avvaru Designs

Sri Gopal Auto Service versus State Bank of India

Union Bank of India (e-Andhra Bank) versus Gandipally Anil

Yes Bank Ltd., versus Mohammed Jeelani

Hdfc Bank Ltd. versus Dharavath Surthi

Yes Bank Limited., versus Yathakula Gopi