The Debts Recovery Tribunal allowed the bank's application for recovery of a term loan of Rs.28,76,636.21 outstanding against two defendants. The court granted simple interest at 8% p.a. and ordered the issuance of a Recovery Certificate.
Recovery of Rs.28,76,636.21 with interest at 8% p.a. jointly and severally, along with recovery certificate.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
DEBTS RECOVERY TRIBUNAL-III, CHANDIGARH
ORIGINAL APPLICATION NO.1290/2025
PRESIDED OVER BY MRIDULESH KUMAR SINGH
DATE OF INSTITUTION: 15.09.2025
DATE OF DECISION: 24.06.2026
YES Bank Ltd., a banking company, carrying on the banking business under the Banking Regulation Act, 1949, incorporated under The Companies Act, 1956 and having its Registered Office at YES BANK House, Western Express Highway, Anand Nagar, Vakola, Santacruz (East) Mumbai - 400055 and one of its Branch Offices amongst other places known as YES Bank Ltd. situated in SCO No. 129-130, 2nd Floor, Sector 9-C, Near Citco Petrol Pump, Chandigarh - 160009 through its Senior Manager, Sh. Aashiv Bhayana.
........A pplicant
Versus
Advocates:
Argued Sh. Rahul Garg, Advocate for the applicant
None for defendants (Already ex-parte vide order dated 20.06.2026).
FINAL ORDER
2 OA NO.1290/2025 YES BANK LTD. VS SH. DHROOV KUMAR SHARMA AND ANOTHER
Paise Twenty One Only). The Original Application has been filed through Sh. Aashiv Bhayana, Senior Manager, who is competent to institute the Original Application vide General Power of Attorney dated 28.03.2025, which is Annexure A1 to this OA.
Documents executed : Facility Agreement dated 30.08.2022, which is
Annexure A4 to this OA; Declaration cum Indemnity dated 26.10.2022, which is Annexure A8 to this OA; Recall Notice dated 19.09.2022 along with postal receipts, which is Annexure A9 to this OA; Statement of account along with certificate, which is Annexure A10 to this OA.
3 OA NO.1290/2025 YES BANK LTD. VS SH. DHROOV KUMAR SHARMA AND ANOTHER
From the perusal of all the Annexures A1 to A10 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 bank. The defendants failed to pay back the loan as per terms and conditions of the agreement between the parties. Subsequently, loan account was classified as NPA. From the documentary evidence brought on record, it is proved that applicant is entitled to recover a sum of Rs.28,76,636.21 (Rupees Twenty Eight Lacs Seventy Six Thousand Six Hundred Thirty Six and Paise Twenty One Only), along with interest from the defendants, jointly and severally, from the date of filing of the present Original Application till realization of the amount.
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, 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 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.
4
OA NO.1290/2025 YES BANK LTD. VS SH. DHROOV KUMAR SHARMA AND ANOTHER
Rs.28,76,636.21 (Rupees Twenty Eight Lacs Seventy Six Thousand Six Hundred Thirty Six and Paise Twenty One Only), along with interest, jointly and severally, with costs, current and future simple interest @08.00%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 from the sale of mortgaged property of the defendant no. 1 in execution proceedings if not sold earlier under the provisions of the SARFAESI Act, 2002. If the dues of the applicant still remain unsatisfied, it shall be entitled to recover the same by attachment and sale of personal assets of the defendants. The applicant is at liberty to enforce the claim through due process of law.
12. Any other application pending stands disposed of.
(MRIDULESH KUMAR SINGH) Presiding Officer, DRT-III, Chandigarh
2 issues framed by the court
Whether the applicant is entitled to recovery of dues against the defaulting borrowers.
Whether to grant simple interest pending realization of the outstanding amount.
2 provisions across 2 enactments
YES Bank Ltd.
Sh. Dhroov Kumar Sharma
Ms. Neelam Insan
Mridulesh Kumar Singh
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
