The DRT allowed the Yes Bank's application under Section 19 RDB Act for recovery of Rs.23,03,188.73 against Gurjinder Singh regarding a defaulted used car loan. The court reduced the claimed interest to 8% p.a. and directed issuance of a Recovery Certificate.
Recovery Certificate issued for Rs.23,03,188.73 plus 8% p.a. simple interest from filing date.
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.1416/2025
PRESIDED OVER BY MRIDULESH KUMAR SINGH
DATE OF INSTITUTION: 18.09.2025
DATE OF DECISION: 23.03.2026
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
Sh. Gurjinder Singh S/O Gurpreet Singh, R/O Village Bhanohar, Ludhiana, Punjab-141102.
….……Defendant Advocates:
Argued by Sh. SC Prajapati, Advocate proxy for Sh. Nakul Sharma, Advocate for applicant.
None for defendant
FINAL ORDER 1. Present Original Application was instituted by the applicant under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993, against the defendant for recovery of Rs.23,03,188.73 (Rupees Twenty Three lakhs Three Thousand One hundred Eighty Eight and Paise Seventy Three only). The Original Application has been filed through Sh. Aashiv Bhayana, authorized officer, of the applicant, who is competent to institute the Original Application Vide power of attorney dated 28.03.2025, which is Annexure A1 to this OA.
2 OA/1416/2025 YES BANK LTD. VS SH.GURJINDER SINGH
Documents executed: Recall Notice dated 12.05.2025, which is Annexure A5 to this OA; Statement of account with certificate, Foreclosure and Judgement, which are Annexures A6 to A8 to this OA.
3 OA/1416/2025 YES BANK LTD. VS SH.GURJINDER SINGH
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 hypothecated assets, undertaking of the defendant, 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
4 OA/1416/2025 YES BANK LTD. VS SH.GURJINDER SINGH
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.
12. Any other application pending stands disposed of.
Pronounced by me in the open Tribunal .
Dated: 23.03.2026.
(MRIDULESH KUMAR SINGH)
Presiding Officer, DRT-III, Chandigarh
2 issues framed by the court
Whether the Original Application under the RDB Act for recovery of the outstanding loan amount should be allowed.
Whether the interest rate claimed by the applicant should be modified by the Tribunal.
2 provisions across 2 enactments
Yes Bank Ltd
Mridulesh Kumar Singh
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
