Debts Recovery Tribunal allowed the application filed by Yes Bank Ltd. against four respondents for recovery of Rs. 24.11 lakhs. The Tribunal limited future interest to 8% p.a. and ordered issuance of a Recovery Certificate.
Recovery Certificate issued; respondents declared liable to pay Rs. 24,11,929.05 with simple interest at 8% p.a.
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. 405/2026
PRESIDED OVER BY MRIDULESH KUMAR SINGH
DATE OF INSTITUTION: 10.03.2026
DATE OF DECISION: 07.08.2026
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 and Regional Office, SCO no. 129-130, 2nd Floor, Sector 9C, near CITCO Petrol Pump, Chandigarh- 160009 through Sh. Aashiv Bhayana, Authorized Officer, Legal Department
……..Applicant
Versus
Advocates:
Argued by Sh. Anup Prajapati, Advocate proxy for Sh. Nakul Sharma, Advocate for applicant
None for defendants (already ex-parte vide order dated 24.07.2026)
FINAL ORDER
2 OA/405/2026 YES BANK LTD. VS. M/S GABRIA HP CENTRE AND OTHERS
Paise Five 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.
However, in the Affidavit of Sh. Aashiv Bhayana, Authorized Officer, it is mentioned that the vehicle has not yet been assigned a RC.
Documents Executed: Partnership Deed dated 09.05.2016, which is Annexure A4 to this OA; GST Registration Certificate dated 02.10.2018, which is Annexure A5 to this OA; Recall Notice dated 10.07.2025, which is Annexure A7 to this OA; Accounts Statement with foreclosure, which are Annexure A8 to A11 to this OA and Judgment dated 05.02.2007, which is Annexure A12 to this OA.
3 OA/405/2026 YES BANK LTD. VS. M/S GABRIA HP CENTRE AND OTHERS
From the perusal of all the Annexure A1 to A12 to this OA, it is proved that defendant nos. 1 to 3 approached applicant for availing of the loan facilities which were granted to them. Defendant no. 4 is a Partner of defendant no. 1. Defendants had executed all the relevant documents in favour of the applicant. The defendants failed to pay back the loans as per terms and conditions of the agreement between the parties. Subsequently, accounts of the defendants were classified as NPA. From the documentary evidence brought on record, it is proved that applicant is entitled to recover a sum of Rs.24,11,929.05 (Rupees Twenty Four Lacs Eleven Thousand Nine Hundred Twenty Nine and Paise Five 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 hypothecated 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 simple interest @8.00% 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. 11. In the result, the application is allowed declaring that the defendants are liable to pay to the applicant a total sum of
4
OA/405/2026 YES BANK LTD. VS. M/S GABRIA HP CENTRE AND OTHERS
Rs.24,11,929.05 (Rupees Twenty Four Lacs Eleven Thousand Nine Hundred Twenty Nine and Paise Five Only) jointly and severally, with costs, current and future simple interest @8.00% p.a. in both the loan accounts 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 of defendant nos. 1 to 3 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.
Pronounced by me in the open Tribunal .
Dated: 07.08.2026
(MRIDULESH KUMAR SINGH)
Presiding Officer, DRT-III, Chandigarh
2 issues framed by the court
Whether the applicant is entitled to declare recovery of outstanding dues under Section 19 of the RDB Act, 1993.
What rate of simple interest is appropriate pending litigation and in the future.
1 provisions across 1 enactments
Yes Bank Ltd.
M/S Gabria HP Centre
Ms. Manpreet Kaur
Sh. Rakhvinder Singh Gabria
Ms. Baljinder Kaur
Mridulesh Kumar Singh
As recorded by the court registry
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