Allowed

State Bank of India v. Anand Govindrao Tipperse

DRT8 Sept 2025OA/332/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the applicant bank's original application for recovery of agricultural loan dues. The court granted future interest at 9% per annum and secured the claim against mortgaged agricultural properties.

What did the court decide?

Order to pay Rs. 45,94,091/- with future interest @9% p.a. Allowance to sell mortgaged properties for recovery. Issue of Recovery Certificate.

State Bank of India versus Anand Govindrao Tipperse — Contract and Commercial Disputes | DRT (2025)

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Presented on: 07.06.2022 Registered on: 17.08.2022 Decided on: 08.09.2025 Duration: Y M D 03 00 21

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IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Shri Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No.332/2022

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TOTAL CLAIM AMOUNT – Rs. 45,94,091/-

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STATE BANK OF INDIA

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A body corporate constituted under the State

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Bank of India Act, 1955, having its local Head

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Office at Bandra Kurla Complex, Mumbai and one of its branch at SARB at CIDCO Aurangabad through one of its officer i.e. City Case Officer, Shri. Ravindra S/o Jaywantrao Dabhadkar, Age: 54 Years, Occupation: Service as City Case Officer, State Bank of

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… Applicant

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India, Branch at SARB CIDCO, Aurangabad

(OA No.332-2022)

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[Ambadas]

and having authority to file the application which includes the authority to sign and verify the application.

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Versus

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ANAND GOVINDRAO TIPPERSE

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… Defendants

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Age: 48 Years, Occu: Agricultural,

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R/o: At Village Barad, Taluka Mudkhed,

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District Nanded, Pin-Code: 431745,

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Mob No: 9922113932.

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NIVRUTTI NARHARI RATNAPARKHE

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Age: Major, Occu: Agricultural,

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R/o: At Village Barad, Taluka Mudkhed,

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District Nanded, Pin-Code: 431745,

Mob No: 9922113932.

(OA No.332-2022)

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[Ambadas]

APPEARANCES

For the Applicant Mr. Arun Rakh - Advocate For Defendant No.1 Ex-parte For Defendant No.2 Abated.

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J U D G M E N T Delivered on (08.09.2025)

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The Applicant Bank has filed the present application for recovery of the sum of Rs. 45,94,091/- (Rs. Forty Five Lacs, Ninety Four Thousand, and Ninety One Only) together with interest @13.10% p.a. and @10.25% p.a. with yearly rests upon Agricultural Term Loan and Kisan Cash Credit Loan Facilities from 31.03.2022 till the full realization of the entire dues and costs from the Defendants jointly and severally.

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Brief facts of the application are as under:

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That the Defendants approached the Applicant Bank and requested the sanction of Agricultural Term Loan facilities. Upon considering the Defendant’s representation, request, and financial needs, the Applicant Bank sanctioned the Agricultural Term Loan of Rs. 20,00,000/- ( for construction of Polymer

(OA No.332-2022)

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[Ambadas]

House and Agricultural Use) on 29.03.2016 and KCC loan facilities of Rs. 02,20,000/- (for cultivation of plantation crops, other annual domestic needs and Estimated small valued investment in farm) vide sanction letter dated 03.06.2016 on certain terms & conditions. The agreed rate of interest for the Agricultural Term Loan Facilities was @13.45% p.a. and @11.30% p.a. in respect of Kisan Cash Credit Loan Facility with yearly rests.

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In order to secure the aforesaid Agricultural Term Loan facilities, the Defendants executed loan documents in favour of the applicant bank namely sanction letter, demand promissory note, request letter, hypothecation agreement, letter of undertaking, equitable mortgage etc.

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The applicant bank contended that to secure the Agricultural Term Loan facilities, the Defendants by way of guarantee deed and deed of declaration mortgaged the properties which are mentioned as under :-

(OA No.332-2022)

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[Ambadas]

All the pieces and parcel of land/building of mortgage property

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with construction thereon situated at as detailed below:

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Agricultural Land from Gut No. 649, admeasuring 0 H 80 R, situated at Village Barad, Taluka Mudkhed, District Nanded

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owned by Anand Govindrao Tipperse and bounded as under:

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East :- Land of Digambar Govindrao, West :- Land of Minakshi Govindrao, South :- Land of Chundaman Govind, North : - Land of Dattatray Govind.

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Agricultural Land from Gut No. 651, admeasuring 1 H 43 R, situated at village Barad, Taluka Mudkhed, District Nanded

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owned by Anand Govindrao Tipperse and bounded as under: East :- Land of Digambar Govindrao, West :- Land of Minakshi Govindrao, South :- Land of Chundaman Govind, North :- Land of Dattatray Govind.

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The applicant Bank further contended that the Defendants failed

(OA No.332-2022)

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[Ambadas]

to keep their promises and commitments agreed by them with regard to due repayment of the loan amount. The Defendants 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 Defendants to pay with the agreed rate of interest thereon, but the Defendants failed and neglected to pay the same. The loan account of the Defendants became irregular and classified as NPA on 31.05.2019. Therefore on 30.03.2022, the applicant Bank issued legal notice to the Defendants through their Advocate. Despite service of Notice, the Defendants failed and neglected to repay the outstanding dues of the applicant Bank. Hence, this application is filed.

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Despite service of summons, the defendant No.1 did not choose to enter appearance either personally or through their Advocate. The original application against defendant No.2 stands abated. Defendant No.1 is hereby set ex-parte vide Order dated

(OA No.332-2022)

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[Ambadas]

02.03.2024.

The applicant Bank has filed Claim Affidavit of evidence at Exhibit-04 of Mr. Ravindra S/o Jaywantrao Dabhadkar, City Case Officer of the applicant bank and has produced on record the original loan transaction documents as per document Exh.09 (Evidence Affidavit for Marking Exhibit) Annexure A-I to A-XII along-with 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.

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Since the Defendants failed to appear and contest the application, I find no reason to disbelieve the unrebutted evidence of the applicant Bank. Therefore, the applicant Bank is entitled for the reliefs as claimed against defendant No.1 as OA against defendant No.2 was abated vide Order dated 02.03.2024.

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The Applicant Bank has claimed future interest at @13.10% per annum and @10.25% p.a. with yearly rests from 31.03.2022 till the full realization of the entire dues and costs from the

(OA No.332-2022)

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[Ambadas]

Defendants. However, considering the facts of the case, I am of the opinion that awarding future interest at @9% per annum (simple), it would be just and reasonable.

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Hence, I pass the following order.

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ORDER

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(A) Original Application No.332/2022 is allowed with costs.

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(B) The Defendant No.1 shall pay to the Applicant Bank a sum of Rs. 45,94,091/- (Rs. Forty Five Lakhs, Ninety Four Thousand, and Ninety One only), along with future interest at @9% per annum (simple) from the date of filing of the Original Application, i.e., 07.06.2022, till full payment/ realization of the said amount.

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(C) The aforesaid adjudicated amount is secured by an immovable property mortgaged in favour of the Applicant Bank vide document Exh. A-V in list of

(OA No.332-2022)

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[Ambadas]

documents Exh.5. The mortgaged properties are described as follows:

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All piece and parcel of land/building of mortgage property with construction thereon situated at as detailed below:

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Agricultural Land from Gut No. 649, admeasuring

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0 H 80 R, situated at Village Barad, Taluka Mudkhed,

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Dist. Nanded owned by Anand Govindrao

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Tipperse and bounded as under:

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East :- Land of Digambar Govindrao, West :- Land of Minakshi Govindrao, South :- Land of Chundaman Govind, North : - Land of Dattatray Govind.

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Agricultural Land from Gut No. 651, admeasuring

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1 H 43 R, situated at village Barad, Taluka Mudkhed,

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District Nanded owned by Anand Govindrao

(OA No.332-2022)

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[Ambadas]

Tipperse and bounded as under:

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East :- Land of Digambar Govindrao, West :- Land of Minakshi Govindrao, South :- Land of Chundaman Govind, North :- Land of Dattatray Govind.

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

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immovable properties and hypothecated articles/goods, to recover its dues.

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(E) The Original Application against defendant No.2 is hereby abated.

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(F) Issue Recovery Certificate accordingly.

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

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(H) File be consigned to the record room.

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Sd/-

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(Dr. J. R. Chauhan) Place : Aurangabad Presiding Officer Date : 08.09.2025 Debts Recovery Tribunal, Aurangabad.

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(OA No.332-2022)

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[Ambadas]

State Bank of India v. Anand Govindrao Tipperse

Case brief

What is this about?

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State Bank of India v. Anand Govindrao Tipperse

Case brief

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