Allowed

Yes Bank Ltd. v. Vansh Homeo Pharma and Another

DRT15 Oct 2025OA/975/2025

Case brief

AI extract

What is this about?

The Chandigarh DRt allowed Yes Bank Ltd.'s application for recovery of Rs. 21.39 lakhs from Vansh Homeo Pharma and proprietor Robin Kumar. The bank proved the loan default and served notices via video conferencing arguments post-ex parte hearing. The court reduced interest from 17% to 8% p.a. and issued a recovery certificate

What did the court decide?

Recovery certificate issued; Defendants directed to pay Rs.21,39,036.09 with interest @8% p.a.; Assets liable to attachment

Yes Bank Ltd. versus Vansh Homeo Pharma and Another — Banking and Recovery | DRT (2025)

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DEBTS RECOVERY TRIBUNAL-III, CHANDIGARH

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ORIGINAL APPLICATION NO.975/2025

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PRESIDED OVER BY MRIDULESH KUMAR SINGH

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DATE OF INSTITUTION: 23.07.2025

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DATE OF DECISION: 15.10.2025

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Yes Bank Ltd., a banking company carrying on banking business under the Banking Regulations Act, 1949 incorporated under The Companies Act, 1956 and having its registered office at Yes Bank House, off Western Express Highway, Santacurz (E) Mumbai-400055 and one of its branch offices amongst other places known as Yes Bank Ltd., Situated in SCO129-130, 2nd Floor, Sector-9C, Near Citco Petrol Pump, Chandigarh 160009 through its Manager Sh. Aashiv Bhayana.

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……..Applicant Versus

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M/s Vansh Homeo Pharma through its proprietor having its Registered Shop no. 206, Duggal Complex, Pindi Street, Ludhiana, Punjab-141008.

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Sh. Robin Kumar son of Sh. Suresh Chander, proprietor M/s Vansh Homeo Pharma, resident of 111/C, BRS Nagar, PO Rajguran, Ludhiana, Punjab-141102.

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….……Defendants

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Advocates:

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Argued by Sh. Sukhwinder Singh Chaudhary, Advocate proxy for Sh. Gaurav Gupta, Advocate for Applicant (through VC)

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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 and Bankruptcy Act, 1993, against the defendants for recovery of Rs.21,39,036.09p (Rupees Twenty One Lacs Thirty Nine Thousand Thirty Six & Nine Paise Only). The Original Application has been filed through Sh. Aashiv Bhayana, Manager of the applicant, who is competent to institute the Original

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OA/975/2025 YES BANK LTD VS M/S VANSH HOMEO PHARMA AND ANOTHER

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Application vide GPA of Bank official 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 approached the applicant for the grant of Business loan of Rs.30.00 Lacs vide loan application dated 09.06.2023, which is Annexure A3 to this OA. 3. The applicant sanctioned Business loan of Rs.30.00 Lacs. Terms and conditions applicable to business loan and agreement dated 15.06.2023, is Annexure A4 to this OA and terms and conditions were duly accepted by the defendants.

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Documents executed :- GST Registration dated 20.09.2017, which is Annexure A2 to this OA; Recall notice dated 04.07.2025, along with postal receipts, which is Annexure A5 to this OA; Foreclosure dated 01.07.2025, which is Annexure A6 to this OA; Statement of account, which is Annexure A7 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 the loan account there was a debit of Rs.21,39,036.09p, 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 16.09.2025.

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In support of the OA, affidavit of Sh. Aashiv Bhayana, Authorized Signatory, Yes Bank Ltd., has been filed. 8. Heard ex-parte arguments and perused record. 9. It was argued by the learned proxy counsel for applicant through video conferencing 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 Annexure A1 to A8 to

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OA/975/2025 YES BANK LTD VS M/S VANSH HOMEO PHARMA AND ANOTHER

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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 bank. The defendants failed to pay back the loan as 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.21,39,036.09p (Rupees Twenty One Lacs Thirty Nine Thousand Thirty Six & Nine Paise 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 @17.00% p.a. with Monthly rests from 01.07.2025 till the realization.

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The Tribunal is of the considered opinion that sometimes inappropriate 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 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 @08.00%p.a. in the loan account from the date of filing of the OA till realization of the amount ordered vide this final order. It is ordered accordingly.

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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.21,39,036.09p (Rupees Twenty One Lacs Thirty Nine Thousand Thirty Six & Nine Paise 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

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OA/975/2025 YES BANK LTD VS M/S VANSH HOMEO PHARMA AND ANOTHER

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by attachment and sale of personal assets of the defendants. The

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

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12. Any other application pending stands disposed of.

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Issue Recovery Certificate accordingly.

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Parties to appear before Learned Recovery Officer of this Tribunal on 28.10.2025.

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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 .

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Dated: 15.10.2025.

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(MRIDULESH KUMAR SINGH)

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Presiding Officer, DRT-III, Chandigarh

Yes Bank Ltd. v. Vansh Homeo Pharma and Another

Case brief

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Yes Bank Ltd. v. Vansh Homeo Pharma and Another

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