Allowed

State Bank of India v. Swati

DRT1 Oct 2025OA/393/2023

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed the State Bank of India's application for recovery of Rs. 52.28 lakh against three home loan defaulters. The court fixed future interest at 9% per annum and declared the mortgaged property as security for the dues.

What did the court decide?

Declaration to pay Rs. 52,28,825/- plus future interest @9% p.a.; Right to sale of mortgaged property declared; Recovery Certificate to be issued.

State Bank of India versus Swati — Specific Performance | DRT (2025)

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Presented on .. 29.06.2022 Registered on .. 23.03.2023 Decided on .. 01.10.2025 Duration .. Y—M—D 03--03--02

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IN THE DEBTS RECOVERY TRIBUNAL AT PUNE (Before Shri Dilip G. Murumkar, Presiding Officer) ORIGINAL APPLICATION No. 393/2023.

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State Bank of India, A Banking Company constituted under the State Bank of India Act, 1955 and having its Corporate Office at State Bank Bhavan, Nariman Point, Madam Cama Road, Mumbai 400021 and its branch at - Stressed Assets Recovery Branch, Second Floor, Wardhaman, Seven Loves Chowk, Plot No. 321/A/3, Mahatma Phule Peth, Pune 411 042.

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… Applicant

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Versus

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1 Mrs. Swati Jaykumar Pujari, Age 53 years, Occ. Service,

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2 Mrs. Shashikala Sunil Pujari, Age 51 years, Occ. Service,

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3 Mrs. Jayashree Sanjay Pujari, Age 53 years, Occ. Service, All R/at :- 17/187, Behind ASC College, Near Laykar Talkies, Ichalkaranji 416 115.

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… Defendants

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Sanap ( OA No. 393/2023 ) 1 of 5

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Appearances :- For Applicant Advocate Aarti Ahuja. For Defendants Ex parte.

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Total Claim Amount – Rs52,31,925./-

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JUDGMENT (Delivered on 01^st October, 2025)

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The Applicant Bank has filed the present application for recovery of the sum of Rs.52,31,925/- together with future interest @9.25% per annum from the date of Application till realization of the entire dues from the defendants.

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Brief facts of the application are as under :-

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As per the loan application dated 26.02.20211 and 27.02.2011 of defendant Nos.1 to 3, the applicant Bank sanctioned the Home loan facility of Rs.60,00,000/- to the defendants vide Arrangement Letter dated 05.05.2011.

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In order to secure the aforesaid loan facility, the defendants have executed necessary loan and security documents in favour of the applicant Bank. The defendants have also executed equitable mortgage dated 06.05.2011 in respect of the property i.e. all that piece and parcel of property bearing Plot No.1, Karadge Housing Layout, E Ward, admeasuring about 389.125 square meters constructed on R.S. No. 905/1, Taluka Karveer, District Kolhapur, in favour of the applicant Bank and have

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Sanap ( OA No. 393/2023 ) 2 of 5

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deposited original title deeds and documents with respect to the said property with the applicant Bank.

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The applicant Bank contended that the defendants committed defaults in payment of installments and failed to regularize the accounts. Hence, the applicant Bank has classified the account of the defendants as Non Performing Asset in accordance with guidelines of Reserve Bank of India. Thereafter, on 09.05.2022, the applicant Bank issued Recall Notice to the defendants. Despite service of Notice, the defendants failed and neglected to pay the outstanding dues of the applicant Bank.

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Hence, this application is filed.

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The defendants failed to appear despite service of summons. Hence, the application proceeded ex-parte against the defendants as per Order dated 08.07.2025 passed below Application (Exhibit-1).

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The applicant Bank has filed Claim Affidavit of evidence (Exhibit-6) of Mr. Nandkishor Bhosale, Assistant General Manager of the applicant Bank, and has produced on record the original loan transaction documents at Sr. Nos. AW-1 to AW-14 along with list (Exhibit 7), 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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Sanap ( OA No. 393/2023 ) 3 of 5

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Since the defendants failed to appear and contest the application, I find no reason to disbelieve evidence of the applicant Bank. The applicant Bank has claimed ledger balance of Rs.45,36,688/- and unapplied interest of Rs.6,95,237/-. However, the account extract filed by the applicant Bank shows closing balance of Rs.45,33,588/-. As such, the applicant Bank is entitled for Rs.45,33,588/- + Rs.6,95,237/- = Rs.52,28,825/-.

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The applicant Bank has claimed future interest @9.25% per annum. However, considering the facts of the case, I am of the opinion that if future interest is granted @9% per annum (simple), it would be just and reasonable rate of interest.

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Hence, I pass the following order.

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O R D E R

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A} Original Application No. 393/2023 is allowed with costs. B} Defendant Nos.1 to 3 either jointly or severally shall pay to the applicant Bank the sum of Rs.52,28,825/- (Rupees Fifty Two Lakhs Twenty Eight Thousand Eight Hundred Twenty Five only) along with future interest @9% per annum from the date of filing of the Original Application i.e. 29.06.2022 till full payment/realization of the amount mentioned in this operative order.

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Sanap ( OA No. 393/2023 ) 4 of 5

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C} The aforesaid adjudicated amount is secured by the valid and subsisting mortgage in respect of all that piece and parcel of property bearing Plot No.1, Karadge Housing Layout, E Ward, admeasuring about 389.125 square meters constructed on R.S. No. 905/1, Taluka Karveer, District Kolhapur, more particularly described in the Para No. 5.7 of the Original Application.

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D} The applicant Bank is entitled to sell the mortgaged property to recover its dues.

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E} Issue Recovery Certificate.

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F} The Registrar is directed to send the copy of Judgment and Recovery Certificate to the applicant and defendants.

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Sd/( Dilip G. Murumkar ) Place : Pune Presiding Officer Date : 01.10.2025 Debts Recovery Tribunal, Pune.

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Sanap ( OA No. 393/2023 ) 5 of 5

State Bank of India v. Swati

Case brief

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State Bank of India v. Swati

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