Yes Bank applied to recover a debt of Rs. 20,74,148.10 from two borrowers who defaulted on loan facilities. The tribunal allowed the application, declaring the defendants liable to pay the amount with 8% interest.
Recovery certificate issued. Defendants liable to pay Rs. 20,74,148.10 with 8% PA interest.
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DEBTS RECOVERY TRIBUNAL-III, CHANDIGARH
ORIGINAL APPLICATION NO. 1408/2025
PRESIDED OVER BY MRIDULESH KUMAR SINGH
DATE OF INSTITUTION:17.09.2025
DATE OF DECISION: 19.03.2026
YES Bank Ltd., a Banking company incorporated under the Companies Act, 1956 and carrying on banking business under the Banking Regulation Act, 1949 having its Registered Office at Yes Bank House, Western Express Highway, Santacruz (East) Mumbai-400055, Regional Office SCO No.129-130, 2nd Floor, Sector 9-C, near CITCO Petrol Pump, Chandigarh-160009, through Sh. Aashiv Bhayana, Authorized Officer, Legal Department.
……..Applicant
Versus
Advocates:
Present by Sh. S.C. Prajapati, Advocate proxy for Sh. Nakul Sharma, Advocate the applicant
Defendants already ex-parte vide order dated 11.02.2026
FINAL ORDER
2
OA NO.1408/2025 YES BANK LTD. VS. GURPIAR SINGH AND ANOTHER
Documents executed: Loan Agreement dated 19.04.2021, which is Annexure A4 to this OA; Loan Recall Notice dated 08.09.2025, which is Annexure A6 to this OA; Account Statements with Foreclosures, which are Annexures A7 to A10 to this OA. 5. The loan accounts became irregular and were classified as NPA and after adjusting debit and credit entries in the loan accounts there was a debit of Rs. 20,74,148.10, 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. 6. The defendants were served notices to appear before this Tribunal but no one appeared on behalf of defendants and they were proceeded ex-parte vide order dated 11.02.2026. 7. In support of the OA, affidavit of Sh. Aashiv Bhayana, Authorized Officer, Legal Department, Yes Bank Limited, has been filed. 8. Heard ex-parte arguments and perused record.
3
OA NO.1408/2025 YES BANK LTD. VS. GURPIAR SINGH AND ANOTHER
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/ hypothecation assets, undertaking of the defendants, quantum of loans 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 both the loan accounts 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.1408/2025 YES BANK LTD. VS. GURPIAR SINGH AND ANOTHER
Rs.20,74,148.10 (Rupees Twenty Lacs Seventy Four Thousand One Hundred Forty Eight and Paise Ten Only) jointly and severally, with costs, current and future simple interest @8.00%p.a. in both 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 hypothecated assets and mortgaged properties of the defendants 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.
11. Any other application pending stands disposed of . 12. Issue Recovery Certificate accordingly. 13. Parties to appear before Learned Recovery Officer of this Tribunal on 09.04.2026. 14. 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. Pronounced by me in the open Tribunal . Dated: 19.03.2026. (MRIDULESH KUMAR SINGH) Presiding Officer,
DRT-III, Chandigarh
2 issues framed by the court
Whether the bank is entitled to recover the outstanding loan amount from the defendants.
Whether the defendants are liable to pay the principal amount along with interest.
3 provisions across 3 enactments
Yes Bank Ltd.
Sh. Gurpiar Singh S/o Sh. Bikar Singh
Smt. Gurmit Kaur W/o Sh. Bikar Singh
Mridulesh Kumar Singh
As recorded by the court registry
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