Allowed

State Bank of India v. Kaushalya

DRT8 Sept 2025OA/1594/2023

Case brief

AI extract

What is this about?

A Debt Recovery Tribunal allowed an application filed by State Bank of India for recovery of agricultural loans. Due to the defendant's default and absence, the court decreed the principal amount and awarded simple interest at 9% per annum, securing the dues against mortgaged lands.

What did the court decide?

Ordered payment of Rs.49,77,629/- with future interest @9% p.a. secured by mortgage on immovable properties; directed to sell properties for recovery; issued Recovery Certificate.

State Bank of India versus Kaushalya — Execution and Attachment | DRT (2025)

¶1

Presented on: 28.11.2022 Registered on: 22.11.2023 Decided on: 08.09.2025 Duration: Y M D 02 09 10

¶2

IN THE DEBTS RECOVERY TRIBUNAL AT PUNE (Before Shri Dilip G. Murumkar, Presiding Officer) ORIGINAL APPLICATION No.1594/2023.

¶3

State Bank of India ,

¶4

A Banking Company constituted under the State Bank of India Act, 1955, having its Corporate Office at State Bank Bhavan, Madam Cama Road, Nariman Point, Mumbai-400 021 and its Branch at Stressed Assets Recovery Branch, 2^nd floor, 321/A/3, Seven Loves Chowk, Shankar Sheth Road, Pune-42.

¶5

… Applicant

¶6

Versus

¶7

Smt. Kaushalya Shivaji Parande R/at Kati, Post Indapur, District Pune-413 106.

¶8

… Defendant

¶9

APPEARANCES For the Applicant For the Defendant

¶10

Mrs. Sudha Koloti Ex-parte.

¶11

TOTAL CLAIM AMOUNT – Rs.49,77,637/- JUDGMENT

¶12

(Delivered on 8^th September, 2025)

¶13

The Applicant Bank has filed the present application for recovery of aggregate sum of Rs.49,77,637/- [ i.e. Rs.14,51,948/- on account of

(OA No.1594/2023)

Page 1 of 10

[ANIL]

Restructured Agricultural Term Loan A/c No.37753748180; Rs.18,02,397/towards KCC Loan A/c No.33852309638; Rs.9,60,049/- towards Agricultural Term Loan A/c No.32796355132 and Rs.7,63,243/- towards Restructured Agricultural Term Loan A/c No.36917026625] inclusive of interest till 27.11.2022 plus future interest from 28.11.2022 @13.75% per annum till payment or realization of entire dues/debts from the defendant.

¶18

Brief facts of the application are as under:

¶19

Defendant approached applicant bank on 14,12.2012 and requested for KCC for Rs.6,15,000/- for cultivation of crops. Applicant Bank sanctioned KCC of Rs. 6,15,000/- on 18.12.2012 to the defendant on the terms and conditions.

¶20

Defendant has executed certain documents for the Term Loan Facility of Rs.6,15,000/- as set out in Para No.5.6 of the Original Application.

¶21

Defendant executed Hypothecation Agreement dated 18.12.2012 and thereby hypothecated all the standing crops on the land bearing Gat No.801 area admeasuring 1.43HA + 0.28HA, Gat No.754/2/3 area admeasuring 0.30 HA and Gat No.754/2/4 area admeasuring 2.73 HA situated at Village Kati, Taluka Indapur, in favour of the applicant, as set out in Para No.5.7 of the Original Application.

(OA No.1594/2023)

Page 2 of 10

[ANIL]

The applicant states that the Defendant again approached to the applicant bank on 09.01.2013 for Agricultural Term Loan of Rs.10,00,000/-. The request of defendant was considered by applicant bank and sanctioned a Term Loan facility of Rs.10,00,000/-.

¶26

Defendant has executed certain documents for the Term Loan Facility of Rs.10,00,000/- as set out in Para No.5.11 of the Original Application.

¶27

So also, defendant executed Hypothecation Agreement dated 24.01.2013 and hypothecated all the standing crop on all that piece and parcel of land bearing Gat No.801 area admeasuring 1.43 HA + 0.28HA, Gat No.754/2/3 area admeasuring 0.30 HA and Gat No.754/2/4 area admeasuring 2.73 HA situated at village Kati, Taluka Indapur, in favour of the applicant.

¶28

The applicant states that the defendant again approached the applicant bank on 28.12.2013 requesting for KCC for Rs.10,48,000/-. The applicant bank considered the request and granted KCC for an amount of Rs.10,48,000/- to the defendant.

¶29

To secure the said credit facility, the defendant executed loan cum security documents mentioned in Para No.5.16 of the Original Application.

¶30

So also, defendant executed Hypothecation Agreement dated 03.01.2014 and hypothecated all the standing crop on all that piece

(OA No.1594/2023)

Page 3 of 10

[ANIL]

and parcel of land bearing Gat No.801 area admeasuring 1.43 HA + 0.28HA, and Gat No.754/2/4 area admeasuring 2.73 HA situated at village Kati, Taluka Indapur, in favour of the applicant.

¶35

The applicant bank states that the defendant approached the applicant bank on 15.05.2014 for an amount of Rs.4,97,000/-. The applicant bank considered the request of Rs.4,97,000/- on the terms and conditions mentioned in the Letter of Arrangement dated 21.05.2014.

¶36

To secure the said credit facility, the defendant executed loan cum security documents mentioned in Para No.5.21 of the Original Application.

¶37

So also, defendant executed Hypothecation Agreement dated 21.05.2014 and hypothecated all the standing crop on all that piece and parcel of land bearing Gat No.801 area admeasuring 1.43 HA + 0.28HA, and Gat No.754/2/4 area admeasuring 2.73 HA situated at village Kati, Taluka Indapur, in favour of the applicant.

¶38

The applicant bank states that defendant again approached the applicant on 21.08.2014 and requested for restructuring of Agricultural Term Loan of Rs.3,65,460/- and restructured vide Letter of Arrangement dated 21.08.2014, on the terms and conditions mentioned in the said Arrangement Letter.

¶39

The defendant again approached the applicant on 14.08.2015 for KCC for an amount of Rs.9,99,000/-. The applicant bank

(OA No.1594/2023)

Page 4 of 10

[ANIL]

considered application for KCC of Rs.9,99,000/- for cultivation of crops on the terms and conditions mentioned in the Letter of Arrangement dated 19.08.2015, as mentioned in Para No.5.27 of the Original Application.

¶44

To secure the said credit facility, the defendant executed loan cum security documents mentioned in Para No.5.28 of the Original Application.

¶45

So also, defendant executed Hypothecation Agreement dated 19.08.2015 and hypothecated all the standing crop on all that piece and parcel of land bearing Gat No.801 area admeasuring 1.43 HA + 0.28HA, and Gat No.754/2/4 area admeasuring 2.73 HA situated at village Kati, Taluka Indapur, in favour of the applicant.

¶46

The applicant states that the defendant again approached the applicant on 14.08.2015 for KCC of Rs.10,99,000/-. The applicant bank considered and sanctioned Rs.10,99,000/- on the terms and conditions mentioned in the Letter of Arrangement dated 19.08.2015.

¶47

To secure the said credit facility, the defendant executed loan cum security documents mentioned in Para No.5.32 of the Original Application.

¶48

So also, defendant executed Hypothecation Agreement dated 19.08.2015 and hypothecated all the standing crop on all that piece and parcel of land bearing Gat No.801 area admeasuring 1.43 HA +

(OA No.1594/2023)

Page 5 of 10

[ANIL]

0.28 HA, and Gat No.754/2/4 area admeasuring 2.73 HA situated at village Kati, Taluka Indapur, in favour of the applicant.

¶53

Defendant also executed Deed of Mortgage which is duly registered in the Office of Sub Registrar Indapur at Sr.No.3499/2015 dated 26.08.2015 of the immovable property i.e.

¶54

(a) all that piece and parcel of the land Gat No.754/2/4 area admeasuring H 2 73R situated within jurisdiction of Sub Registrar Indapur within the limits of village Kati, Taluka Indapur, District Pune; and

¶55

(b)all that piece and parcel of land bearing Gat No.801 area admeasuring H1 43R situated within the jurisdiction of Sub Registrar Indapur, within the limits of village Kati, Taluka Indapur, District Pune, more particularly described in Para No.5.34 of the Original Application.

¶56

The applicant states that the defendant again approached applicant bank with application dated 13.04.2017 for restructuring of Agricultural Term Loan (ATL) for Rs.7,52,882/-. The applicant favourably considered the request of the defendant and restructured Agricultural Term Loan of Rs.7,52,882/- vide letter of Arrangement dated 13.04.2017, on certain terms and conditions mentioned in the Arrangement Letter.

(OA No.1594/2023)

Page 6 of 10

[ANIL]

The applicant states that the defendant again approached the applicant bank with application dated 31.05.2017 for restructuring of Agricultural Term Loan (ATL) for an amount of Rs.3,86,424/-. The applicant bank favourably considered defendants’ application for restructuring of Agricultural Term Loan (ATL) for Rs.3,86,424/- and reconstructed it vide letter of Arrangement dated 31.05.2017 on the terms and conditions mentioned in Arrangement Letter.

¶61

The defendant also executed Revival Letters from time to time and thereby admitted all the execution of all loan cum security documents in favour of the applicant bank.

¶62

It is contended that the Defendant has availed the Term Loan Account and KCC Accounts but did not pay the installments in time. Defendant neglected to comply with the terms and conditions on which the said loan facilities were granted. Defendant neither operated the account satisfactorily nor made enough deposits in the loan accounts to keep it regular as per terms of sanction and kept the principal and interest in arrears. Applicant, therefore, repeatedly called upon the defendant to regularize the account, but defendant failed and neglected to comply with the same. Hence, the applicant through Advocate Sudha Koloti issued Recall Notice cum invocation of Guarantee Notice dated 29.10.2022 to the defendant

(OA No.1594/2023)

Page 7 of 10

[ANIL]

and thereby called upon to repay the entire amount outstanding under the KCC and Term Loan Account. However, the defendant failed to comply with the requisitions contained in the Legal Notice and failed to repay the amount outstanding in the said loan accounts.

¶67

Hence, this application is filed.

¶68

Defendant failed to appear despite service of summons. Hence, application proceeded ex-parte against Defendant vide Order dt.02.05.2025 passed below Application (Exh.1).

¶69

The Applicant Bank filed Claim Affidavit of evidence (Exhibit-6) of Mrs. Abhay Somkuwar, Chief Manager, which supports the case of the applicant elucidated in the application.

¶70

The Applicant Bank has produced in evidence the original loan documents at Annexure AW1-1 to AW1-53, which corroborate the case of the Applicant Bank.

¶71

I have heard arguments of the learned Advocate for the Applicant Bank.

¶72

Since the defendant failed to appear and contest the application, I find no reason to disbelieve the evidence of the Applicant Bank. Therefore, the Applicant Bank is entitled for reliefs as claimed.

(OA No.1594/2023)

Page 8 of 10

[ANIL]

The Applicant Bank has claimed relief in respect of hypothecated assets. However, there is no detailed description with respect to the hypothecated assets. Therefore, the relief in terms of hypothecated assets cannot be granted.

¶77

10 Considering the facts of the present case, I am of the opinion that if future interest is granted @9% per annum (simple) for both the facilities, it would be just and reasonable.

¶78

11 Hence, I pass the following order: -

¶79

ORDER

¶80

(A) Original Application No. 1594/2023 is allowed with costs.

¶81

(B) Defendant shall pay to the Applicant Bank an aggregate sum of Rs.49,77,629/- (Rupees Fourty Nine Lakhs Seventy Seven Thousand Six Hundred Twenty Nine only) [i.e. Rs.14,51,948/- towards Restructured ATL Loan A/c No. 37753748180; Rs.18,02,396/- towards KCC A/c No. 33852309638; Rs.9,60,049/- towards ATL Account No. 32796355132 and Rs.7,63,235/- towards Restructured ATL Account No. 36917026625 ] with future interest @9% p.a. from the date of filing of the Original Application i.e.28.11.2022 till payment/realization of the amount mentioned in this operative order.

(OA No.1594/2023)

Page 9 of 10

[ANIL]

(a) All that piece and parcel of the land Gat No.754/2/4 area admeasuring H 2 73R situated within jurisdiction of Sub Registrar Indapur within the limits of village Kati, Taluka Indapur, District Pune; and

¶87

(b) All that piece and parcel of land bearing Gat No.801 area admeasuring H1 43R situated within the jurisdiction of Sub Registrar Indapur, within the limits of village Kati, Taluka Indapur, District Pune, more particularly described in Para No.5.34 of the Original Application.

¶88

(D) The Applicant Bank is entitled to sell the above mentioned mortgaged immovable properties to recover its dues.

¶89

(E) Issue Recovery Certificate.

¶90

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

¶91

Place: Pune Date: 08.09.2025

¶92

Sd/(Dilip G. Murumkar) Presiding Officer, Debts Recovery Tribunal, Pune.

¶93

(OA No.1594/2023)

¶94

Page 10 of 10

¶95

[ANIL]

State Bank of India v. Kaushalya

Case brief

What is this about?

What did the court decide?

State Bank of India v. Kaushalya

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

Coram

Case details

Similar cases

Bank of Maharashtra versus Sanjay Parkar

Bank of India versus Shraddha S. Dalvi

Bank of India versus Sandip Madhukar Narkar

Bank of India versus Bhanudas Malekar

Indian Overseas Bank versus Maruti Kare

Bank of India versus Bhaskar Bangar