Allowed

Yes Bank Limited. v. Myadam Narsimulu

DRT8 May 2026OA/310/2026

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal-II allowed the Original Application filed by YES Bank Limited for recovery of Rs.28,43,987.63 with future interest from the defendants who remained absent. The court held the defendants jointly and severally liable and ordered the issuing of a recovery certificate against mortgaged properties and the defendants personally.

What did the court decide?

Defendants held jointly and severally liable to pay sum with future interest; OA claim secured by mortgage; recovery certificate to be issued.

Yes Bank Limited. versus Myadam Narsimulu — Contract and Commercial Disputes | DRT (2026)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDEMBAD

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DATED THIS THE OSTH DAY OF IVIAY, 2026

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PRESENT: SH. RAMESHWAR KOTHE, B.Com., L.LB.^{(Hons.), lvl.A.} PRESIDING OFFICER

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ORIGINAL APPLICATION NO: 310 OF 2026

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YES Bank Limited., Office at 1-8-387 , 2nd Floot, Agravanshi Plaza, HUDA Lane, S.P Road, Secunderabad-500003. Rep. by its Authorized Signatory.

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.....Applicant.

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Versus

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Myadam Narsimulu, S/o. Gundaiah Aged about 51 Years, Occ: Business R/o. Plot No.2, Survey No. 942lB Near Everest Enclave, Gurunagar Colony Sadashivapet, Sanga Reddy District- 502291^.

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Also at:-

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C/o. H.No.2-92, Etigaddasangam Village sadash ivapet, sanga Reddy District-502291.

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lYrs. Myadam Narsamma, Wo. Narsimulu Aged about 48 Years, Occ: Housewife R/o. Plot No.2, Survey No. 942lB Near Everest Enclave, Gurunagar Colony Sadashivapet, Sa nga Reddy District-502291.

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Also at: -

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C/o. H.No.2-92, Etigaddasangam^Village Sadashivapet, Sanga^{Reddy District- 502291.}

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...Defendants

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Counsel for the ApPlicant : Mr. M. Srinivas Reddy Defenda nts ,r*r7ryr.rr,

oA.NO.310/2026

:: ORDER ::

The Applicant Bank filed the present OA for the recovery a total sum of Rs.28,43,987.63ps from the defendants jointly and severally with future interest @18o/o p.a. from the date of application till the date of realization along with costs and in default for sale of OA schedule properties.

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Summons served on D1 and 2. They were set ex-parte on 06.05.2026 as called absent and no representation.

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The Applicant Bank examined Sai Pavan Gudivada, Legal l,lanager, as AW-1 and marked 10 documents through him as Ex. A.1 to Ex. A.10.

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Heard the Ld. Counsel for the Applicant Bank.^perused the material placed on record.

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The point that arises for conslderation is:-

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Whether the Applicant Bank is enti ed for the claim made in the OA against the Defendants and OA schedule properties?

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As stated supra, the Defendants remained ex-parte. The Evidence Affidavit coupled with the recitals in the documents viz., Exs. A.1 to A.10 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendants. Hence, I hold that the Defendants are jointly and severally liable to pay the OA claim to^the Applicant Bank with future interest //"YYq.*

and costs. (-l/;o,

oA.NO.310/2025

, 7, In the result, the^present Original Application^{No.310/2026is} allowed as under: -

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i) The Defendants are^jointly and severally liable to^pay to the Applicant Bank a sum of Rs.28,43,987.63ps with future^interest @l2o/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^mortgage of properties described in the^schedule annexed to the OA and the applicant^bankis entitled to proceed against the same^to realise its debU

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iii) the applicant bank is also entitled to^proceed against the person and^propertiesof defendants for realization of^its dues;

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iv) the applicant bank is entitled^{for the costs.}

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The Applicant Bank is directed to^{file Cost Memo within2 weeks} from the date of receipt of this Order.

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q Issue Recovery Certifi cate accordingly.

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Communicate a copy of this order^{to the parties concerned.} (Dictated to the steno, corrected, signed and^{pronouncedbyme jp-$eopen court} Pn thistheo8th Dayof May,2026).

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UW"t*

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(RAMESHWAR KOTHE)

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PRESIDING OFFICER

Yes Bank Limited. v. Myadam Narsimulu

Case brief

What is this about?

What did the court decide?

Yes Bank Limited. v. Myadam Narsimulu

Case brief

What is this about?

What did the court decide?

What the court decided

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Issues for consideration

Statutes considered

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