Allowed

State Bank of India v. Namdeo Ramkisan Niras

DRT9 Oct 2025OA/135/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the State Bank of India's application for recovery. Due to the Defendant's absence, the Court relied on the bank's evidence, adjudicated the claim of Rs. 35.74 lakhs, awarded simple interest at 6% per annum, and recognized the mortgaged property as security.

What did the court decide?

Recovery of Rs. 35,74,892 plus 6% p.a. simple interest; directive to sell mortgaged property; issue of Recovery Certificate.

State Bank of India versus Namdeo Ramkisan Niras — Contract and Commercial Disputes | DRT (2025)

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Presented on: 30.06.2023 Registered on: 04.03.2024 Decided on: 09.10.2025 Duration: Y M D 02 03 09

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IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 135/2024

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TOTAL CLAIM AMOUNT – Rs. 35,74,892/-

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STATE BANK OF INDIA,

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State Bank of India (SARB) is a body corporate constituted under the State Bank of India (SARB), Act, 1955 having a SME Branch at Gangakhed, through its

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Deputy Manager through Mr. Amit Mohan

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Bhilegaonkar , (City Case Officer), SARB, Aurangabad. Age: 41 years, Occ.: Service, R/o. Aurangabad.

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Versus

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1. Namdeo Ramkisan Niras, Age: Major, Occ.: Service R/o.: Plot No. 56, Asif Colony, Beside Bhagya Nagar, Gangakhed Dist. Parbhani-431514.

… Applicant

AND

(OA No.135/2024)

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[AMBADAS]

R/o.: Pandurang Trading Co., New Mondha, Gangakhed Dist. Parbhani-431514.

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…Defendant

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APPEARANCES

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For the Applicant For Defendant

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Mr. A.L. Muley Advocate Mr. K. J. Suryawanshi Advocate

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JUDGMENT

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Delivered on 09.10.2025

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The Applicant Bank has filed the present application for the recovery of a sum of Rs. 35,74,892 /- (Rupees Thirty Five Lacs, Seventy Four Thousand, Eight Hundred and Ninety Two only), along with further interest from the date of filing of the Original Application, i.e., 30.06.2023, until the date of realization of the entire outstanding dues from the Defendant.

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Brief facts of the application are as under:

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That, the Defendant had approached to the Applicant bank and requested to sanction a Housing Loan. Upon considering the

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request and need of the defendant, the Applicant Bank sanctioned

(OA No.135/2024)

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[AMBADAS]

a Housing Loan Facility of Rs. 39,29,550/- vide sanction letter dated 30.12.2016 on certain terms and conditions. The agreed rate of interest for aforesaid loan facility was @ 9.40% p.a. with monthly rests. The defendant also agreed to pay an additional interest @2% by way of liquidated damages in case of default in repayment.

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In order to secure the aforesaid loan facility, the Defendant executed various loan documents in favour of the Applicant Bank, including the sanction letter, housing agreeemeent, letter of arrangement, sale deed bearing daybook No. 808/2016 & mortgage deed dated 31.12.2016 etc., in favour of the Applicant Bank.

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The Applicant Bank further contends that, in order to secure the Home loan Facility sanctioned, the Defendant created first charge over his immovable property by deposit of registered sale deed

(OA No.135/2024)

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[AMBADAS]

no. 808/2016, in favour of the Applicant Bank. The mortgage was created in respect of the following property –

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All that piece & parcel of immovable property Plot No. 56, adm. 2655 Sq. Ft. Bearing PRT No. 463/3/2 Asief Colony, Gangakhed, Tq. Gangakhed, Dist. Parbhani, standing in the name of Mr. Namdeo Ramkrishn Niras, which is bounded as under:

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East: Plot No. 57, West: Plot No. 55 South: Plot No. 43, North: Road.

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The applicant bank contended that the defendant has failed to keep his promise and commitments agreed by him with regard to due repayment of the loan amount. The defendant failed to operate the loan account properly and failed to pay the agreed rate of interest as per terms and conditions of the sanction letter. Thereafter, the applicant bank repeatedly made demand of loan amount and called upon the defendant to pay with the agreed rate of interest thereon, but the defendant failed and neglected to pay the same. The loan account of the defendant became irregular and classified as NPA on 29.05.2022. Therefore, on 07.06.2023 the

(OA No.135/2024)

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[AMBADAS]

applicant bank issued legal Notice to the defendant. The defendant failed and neglected to repay the outstanding dues of the applicant Bank. Hence, this application is filed.

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The defendant appeared in matter but failed to file written statement. Hence, the right of defendant to file written statement stands closed as per Order dated 09.09.2025.

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The applicant Bank has filed Claim Affidavit of evidence at Exhibit-4 of Mr. Amit Mohan Bhilegaonkar, Deputy Manager of the applicant Bank, and has produced on record the original loan transaction documents as Exh. A, A-1 to A-7 as per list of documents Exh. 5 which corroborates the case of the applicant Bank.

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I have heard arguments of the learned Advocate for the applicant Bank and defendant.

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Since the defendant failed to file written statement and contest the application, I find no reason to disbelieve the unrebutted

(OA No.135/2024)

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[AMBADAS]

evidence of the applicant Bank. Therefore, the applicant Bank is entitled for the reliefs as claimed.

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The applicant Bank has claimed charge over immovable property of the borrower which is mortgaged in favour of the applicant bank.

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The applicant Bank has claimed future interest @ 9.40% per annum with monthly rests on the loan from the date of filing i.e. 30.06.2023 of this application till realization of the claim amount. In agreement letter dated 30.12.2016 Exh. A-1 and Original memorandum of loan agreement Exh. A-2, no rate of interest has been mentioned and columns of interest are left blank. Hence, considering the facts of the case, I am of the opinion that if future interest is granted @ 6% per annum (simple) it would be just and reasonable rate of interest.

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ORDER

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(A) Original Application No. 135/2024 is allowed with costs.

(OA No.135/2024)

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[AMBADAS]

(B) The defendant shall pay to the applicant Bank a sum of Rs. 35,74,892 /- (Rupees Thirty Five Lacs, Seventy Four Thousand, Eight Hundred and Ninety Two only), along with future interest @ 6% per annum (simple) from the date of filing of the Original Application i.e. 30.06.2023 till full payment/realization of the amount mentioned in this operative order.

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(C) The aforesaid adjudicated amount is secured by the mortgaged of the following immovable property vide registered sale deed no. 808/2016 at Exh. A-4 and mortgage deed Exh. A-3 in list of documents Exh. 5.

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All that piece & parcel of immovable property Plot No. 56, adm. 2655 Sq. Ft. Bearing PRT No. 463/3/2 Asif Colony, Gangakhed, Tq. Gangakhed, Dist. Parbhani, standing in the name of Mr. Namdeo Ramkrishn Niras, which is bounded as under:

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East: Plot No. 57, West: Plot No. 55 South: Plot No. 43, North: Road.

(OA No.135/2024)

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[AMBADAS]

(D) The applicant Bank is entitled to sell the mortgaged

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immovable property, to recover its dues.

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(E) Issue Recovery Certificate accordingly.

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(F) The Registrar is directed to send the copy of the Judgment and Recovery Certificate to the applicant and defendant.

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(G) File be consigned to the record room.

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Sd/Pronounced in open court. (Dr. J. R. Chauhan) Place: Aurangabad Presiding Officer Date:.09.10.2025 Debts Recovery Tribunal, Aurangabad

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(OA No.135/2024)

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Page 8 of 8

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[AMBADAS]

State Bank of India v. Namdeo Ramkisan Niras

Case brief

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State Bank of India v. Namdeo Ramkisan Niras

Case brief

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