Allowed

M/s. Yes Bank Ltd. v. Mr. Chintalapati Ravi Sekhar

DRT30 Jan 2026OA/480/2025

Case brief

AI extract

What is this about?

The tribunal allowed the bank's original application for debt recovery. The defendant remained in ex-parte. Based on documentary evidence, the bank was awarded principal sum, future interest, and rights over hypothecated vehicles.

What did the court decide?

Defendant directed to pay Rs. 22,70,992.09/- with future interest; bank entitled to proceed against hypothecated vehicles and defendant's properties; Recovery Certificate issued.

M/s. Yes Bank Ltd. versus Mr. Chintalapati Ravi Sekhar — Banking and Recovery | DRT (2026)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD DATED THIS THE 3OTH DAY OF ]ANUARY, 2026 PRESENT: SH. RAMESHyjTIglHF,B.Com., L.LB. (Hons.), M.A. PRESIDING OFFICER

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ORIGINAL APPLICATION No: 480 OF 2025

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M/s. Yes Bank Ltd. Office at 1-B-387, 2nd Floor, Agravanshi^plaza, Huda Lane, S.P. Road, Secunderabad-5OOOO3. .....Applicant.

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Versus

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Mr. Chintalapati Ravi Sekhar S/o. Brahamanandam, Aged: 61 years, Occ: Business R/o. t-t. No. 1-1-256164, Street No.3, Chikkadpally, Hyderabad_500020.

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Also at: C/o. Interior Works

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H. No. 1-1-256164, Street No.3 Chikkadpally, Hyderabad-50OO2O.

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... Defendant.

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Counsel for the Applicant Mr. M. Srinivas Reddy Defendants Ex-parte

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:: ORDER ::

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The Applicant Bank filed the present OA for the recovery a total sum of Rs.22,70,992.09/- from the defendant with future interest @1Bo/o p.a. from n os o05 . 0 2.2 0 2 5 till th€ date of realization o s ,uffir;,

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oA.NO.480/202s

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costs and in^{defaultfor sale of hypothecated} along^with vehicles.

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Summon^{served on sole defendantthroughpaper publication'} He was set^{ex-parte on 23'09'2025 as called absent andno} representation.

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The Applicant^{Bank examined Mr' Sai Pavan Gudivada'Legal} Manager,^{as AW-1and marked 7 documents through him as Ex'} A.1 to Ex. A'7'

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HeardtheLd.CounselfortheApplicantBank.Perusedthe 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^{madein the OA against} the Defendants^{and OA hypothecated} vehicles?

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As stated^{supra, the Defendant remainedex-parte' The} Evidence Affidavit^{coupledwith the recitals in the documents} viz., Exs. A.1^{to A'7 marked on behalf of the ApplicantBank} clinches the^{claim of the ApplicantBank againstthe Defendant'} Hence, I hold that^{the Defendantis liable to pay the OA claim to} the Applicant^{Bank with futureinterest and costs'}

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In the result, the^{present Original Application No'480/2025is} allowed as under:^-

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i) The Defendant is liable to PaY to^the a sum of Rs.^{22,70,992.091-} Applicant Bank figxx

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oA.NO.480/2025

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with future interest @15.51% 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 vehicles described in the schedule annexed to the OA and the applicant bank is entitled to proceed against the same to realise its debt;

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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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9, Issue Recovery Certificate accordingly.

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Communi€ate a copy of this order to the parties concerned. (Dictated to the steno, corrected, signed and pronounced by me in the open court on this the 30th Day of January, 2026).

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ffi1.ytt'\ /tffiX.'ior*ul PRESIDING OFFICER

M/s. Yes Bank Ltd. v. Mr. Chintalapati Ravi Sekhar

Case brief

What is this about?

What did the court decide?

M/s. Yes Bank Ltd. v. Mr. Chintalapati Ravi Sekhar

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

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