In an original application for recovery of dues, the Debts Recovery Tribunal allowed the applicant bank's claim for the principal amount and future interest at 9% p.a. per annum, as the respondent appeared ex-parte.
Recovery of Rs. 30,57,389.17/- plus future interest at 9% per annum; right to sell hypothecated properties enforced.
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.
Presented on: 10.09.2022 Registered on: 27.02.2023 Decided on: 19.11.2025 Duration: Y M D 03 02 09
IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 10/2023
TOTAL CLAIM AMOUNT – Rs. 30,57,389.17/-
CANARA BANK,
A Body Corporate constituted under the Banking
companies (Acquisition & Transfer of Undertakings)
Act, 1970, having its Head Office at 112 JC Road, Bangalore in the State of Karnatak and one of its branch offices amongst other places at Main Road,
Partur Jalna 431 501. Through its Authorized
Signatory, Shri. Sachin Shankar Rathod.
… Applicant
Versus
Shri. Pravin Sudhakar Satonkar, Prop. Satonkar Tractors At Satonkar Complex, Opp. H. P Petrol Pump, Watur Road, Partur, Jalna – 431 501.
…Defendant
(OA No.10/2023)
Page 1 of 7
[AMBADAS]
APPEARANCES
For the Applicant For Defendant
Mr. G. A. Rajput -Advocate Ex-parte
JUDGMENT
Delivered on 19.11.2025
vide sanction letter dated 02.11.2018 on certain terms and
conditions. The agreed rate of interest for the aforesaid loan was
(OA No.10/2023)
Page 2 of 7
[AMBADAS]
@10.60% p.a. with monthly rests. The Defendant also agreed to pay additional interest @2% by way of liquidated damages in the event of any default in repayment.
The applicant bank further states, that the defendant again approached and requested the applicant bank for renewal of the existing Cash Credit Facility, considering the need and request of the defendant, the applicant bank has renewed the Cash Credit Facility vide renewal letter dated 26.02.2021.
(OA No.10/2023)
Page 3 of 7
[AMBADAS]
(OA No.10/2023)
Page 4 of 7
[AMBADAS]
(OA No.10/2023)
Page 5 of 7
[AMBADAS]
9% per annum (simple), it would be just and reasonable rate of interest.
ORDER
(B) The defendant shall pay to the applicant Bank a sum of Rs. 30,57,389.17/- (Rupees Thirty Lacs, Fifty Seven Thousand, Three Hundred Eighty Nine and Seventeen Paisa only), along with future interest @ 9% per annum (simple) from the date of filing of the Original Application i.e. 10.09.2022 till full payment/realization of the amount mentioned in this operative order.
(OA No.10/2023)
Page 6 of 7
[AMBADAS]
Sd/-
Pronounced in open court. Place: Aurangabad Date:.19.11.2025
(Dr. J. R. Chauhan) Presiding Officer Debts Recovery Tribunal, Aurangabad
(OA No.10/2023)
Page 7 of 7
[AMBADAS]
1 issue framed by the court
Whether outstanding dues along with future interest can be recovered from the defendant bank account.
Canara Bank
Shri. Pravin Sudhakar Satonkar
Dr. J. R. Chauhan
As recorded by the court registry
2 orders share this CNR
Judgements on the same questions, provisions and authorities, from every court
