Allowed

M/S. Yes Bank Ltd. v. Mr. Malgi Reddy Govardhan Reddy

DRT19 Jun 2026OA/293/2026

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed an original application filed by Yes Bank against a defaulting borrower. The defendant appeared ex-parte. The Tribunal accepted the bank's evidence and directed recovery of the principal amount, interest, and costs, with authority to proceed against the hypothecated vehicle.

What did the court decide?

Defendant to pay Rs. 29,91,083.61 plus interest at 16.01% p.a. and costs. Bank entitled to sell hypothecated vehicle and attach defendant's other properties.

M/S. Yes Bank Ltd. versus Mr. Malgi Reddy Govardhan… — Child Sexual Offences (POCSO) | DRT (2026)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD

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DATED THIS THE 19TH DAY OF JUNE, 2026

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PRESENT: SH. RA[4ESHWAR KOTHE, B.Com. L.LB. (Hons.), M.A. PRESIDING OFFICER

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ORIGINAL APPLICATION No: 293 OF 2026

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M/S. YES BANK LTD., H.No.1-8-387, 2nd Floor, Ag rava nshi Plaza, HUDA Lane, S.P. Road, Secunderabad - 500003 Rep: By its Authorized Signatory

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.......Applica nt

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Versus

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lYr. lYalgi Reddy covardhan Reddy S/o. Narsi Reddy, Aged about 36 years, Occ: Business, C/o. lvl G Reddy Enterprises, H. No.6-4-579, Plot No. 22, Sheb Nagar Kalan Village Va nastha lipu ra m, Ranga Reddy District - 500 O7O

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Also at: R/o. Flat No.201, Sai Gayathri Residency, Hayath Nagar, Ranga Reddy District - 500 070

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......Defendant

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Counsel for the Appllcant : tvr. M. Srinivas Reddy Counsel for the Defendant : Ex-parte OY**

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oA.NO.293l2026

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:: ORDER ::

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The Applicant Bank filed the present OA for the recovery a total sum of Rs. 29,91,083.61 ps from the sole defendant with future interest @ 18o/o p.a. with monthly rests from 20.12.2025 till the date of realization along with costs, and in default, sale of OA hypothecated vehicle.

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Summon served on Sole Defendant and was set exparte on 18.06.2026 as called absent and no representation.

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J.) The Applicant Bank examined Mr. Sai Pavan Gudivada, Legal Manager, as AW-1 and Mr. D. Shyam Kumar Reddy, Assistant Vice President, as AW-2 and marked 7 documents through them as Ex.A.1 to Ex.A.7.

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Heard Learned Counsel for the Applicant. Perused the material placed on record.

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The point that arises for consideration is: -

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Whether the Applicant Bank is entitled for the claim made in the OA against the Defendant and OA hypothecated vehicle?

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As stated supra, the Defendant remained ex-parte. The Evidence Affidavit coupled with the recitals in the documents viz., Exs.A. 1 to A.7 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendant. Hence, I hold that the Defendant is liable to pay the OA claim to the Applicant Bank with future inreres t and costs.(7w;:*

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oA.NO.293/2026

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In the result, the present Original Application No,293/2026 is allowed as under:

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i) The Sole Defendant is liable to pay to the Applicant Bank a Rs. 29,91,083.61 ps with future interest @ 16.01o/o p.a. simple from the date of application till the date of realization;

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ii) the OA claim is secured by way of hypothecation of vehicle as described in the schedule annexed to the OA and the applicant bank is entitled to proceed against the same to realise its debq

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

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iv) the applicant bank is entitled for the costs.

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

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Issue Recovery Certificate accordingly.

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Communicate a copy of this order to the parties concerned. (Dictated to the steno, corrected, signed and pronounced by the open coqrt on this the l.9th Day ofJune, 2026). f('o'rtn

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SHWAR KOTHE)

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PRESIDING OFFICER

M/S. Yes Bank Ltd. v. Mr. Malgi Reddy Govardhan Reddy

Case brief

What is this about?

What did the court decide?

M/S. Yes Bank Ltd. v. Mr. Malgi Reddy Govardhan Reddy

Case brief

What is this about?

What did the court decide?

What the court decided

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