Allowed

State Bank of India v. Dheeraj Khanna

DRT17 Dec 2025OA/509/2025

Case brief

AI extract

What is this about?

The DRT allowed the bank's application for recovery of a personal loan debt. After the respondent failed to appear, the Tribunal decreed the claim and issued a recovery certificate for Rs. 25,49,795/- with interest and costs, authorizing recovery from the defendant's assets.

What did the court decide?

Decree for Rs. 25,49,795/- with 10% simple interest; Recovery Certificate issued for recovery from defendant's assets; Costs awarded to the bank.

State Bank of India versus Dheeraj Khanna — Banking and Recovery | DRT (2025)

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“ORIGINALAPPLICATION” No. 509 of 2025

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BEFORE THE DEBTS RECOVERY TRIBUNAL, JAIPUR

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PRESENT- SHRI VIMAL GUPTA

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PRESIDING OFFICER

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O.A. NO. 509 OF 2025

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DATE OF DELIVERY OF ORDER 17.12.2025

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STATE BANK OF INDIA , a Body Corporate constituted under the State Bank of India Act, 1955 (23 of 1955), having its Corporate Office at Corporate Centre, State Bank Bhawan, Madam Cama Road, Nariman Point, Mumbai-400021; one of its Branch situated at Stressed Assets Recovery Branch (SARB), 3rd Floor, Matrix MaII, Sector-4, Jawahar Nagar, Jaipur (Rajasthan), through its Chief Manager Mr. Ashish Gupta.

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…..Applicant Bank…..

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VERSUS

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1. Sh. Dheeraj Khanna S/o Sh. Laxman Khanna, R/o House No. 1-E-27, Rajasthan Personal Board Colony, Banswara (Rajasthan).

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Also at: -

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Plot No. 19, Tirupati Vihar, Udaipur Road, Banswara327001 (Rajasthan).

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……Defendants…..

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Counsel for the Applicant Bank Sh. Kirti Kapoor Defendants None

OA No. 509 of 2025

JUDGMENT

This Original Application was filed by the applicant bank on 18.02.2025 for recovery of outstanding amount of Rs. 25,49,795/- from the Defendants.

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As per the pleadings, Defendant had approached the applicant bank for availing personal loan facility under Xpress Credit Elite Scheme.

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It is submitted that the applicant-Bank, considered the Loan Application and has sanctioned the Personal Loan of Rs. 25,00,000/- to Defendant. The applicant Bank has issued Letter of Arrangement dated 20.10.2022, wherein all the terms & conditions of the sanction had been mentioned. Defendant, after carefully reading and understanding all the terms & conditions of the sanction have put his signature on the letter of arrangement in token of acceptance of all the terms & conditions.

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It is submitted that as per Letter of Arrangement and Loan Agreement dated 20.10.2022, Defendant agreed to pay the interest for the loan facilities @3.90% margin above the MCLR, which was @8.15% p.a. at that particular time, as such present effective rate of interest @12.05% p.a. at monthly rest. By executing above documents Defendant have agreed to pay interest on the outstanding amount at such rate(s) as may be determined at the sole discretion of the bank or otherwise provided that the rate(s) shall be subject to changes in the Base Rate/MCLR and/or changes in interest rates prescribed by Reserve Bank of India from time to time

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OA No. 509 of 2025

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without any notice or information. It has further been agreed that interest shall be calculated respectively on the daily balance of such account(s) and be debited there to according to the practice of the Bank. The bank has further been given authority to charge enhanced rate of interest on the entire outstanding or portion thereof and penal interest.

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It is submitted that the Defendant had failed to maintain the financial discipline in the loan account and further failed to adhere the terms & conditions of the sanction, as such the account became irregular and further was classified as NPA as per the guidelines of Reserve Bank of India.

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It is submitted that the applicant Bank has served the Legal Notice dated 10.02.2025 to the defendant and has raised the demand to deposit the entire outstanding amount, but the defendant, in spite of notice have failed to deposit the dues. The Legal Notice dated 10.02.2025 is enclosed herewith.

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It is submitted that the Defendant has availed the financial facilities sanctioned by the applicant Bank. The applicant Bank is maintaining Account bearing No. 41366262818 for Personal Loan facility, the Statement of Accounts along with the certificates under Banker's Book Evidence Act, 1891 are enclosed herewith. The Statement of Accounts contains all the amounts availed/withdrawn/ transferred by the Defendant and the amounts so deposited by the Defendant from time to time. In the said accounts Applicant Bank has applied the interest and other charges as per agreed terms and conditions of the agreement and at such rates which are and

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OA No. 509 of 2025

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were prescribed and prevalent from time to time by Reserve Bank of India and/or applicant Bank.

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It is submitted that the applicant Bank has taken closure balance sheet from the computer system in loan account of facility on 13.02.2025 which shows the total outstanding including the accrued interest.

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It is submitted that cause of action has arisen when the Defendant have approached to the applicant Bank for grant of loan facility, when the applicant Bank has sanctioned the credit facilities and the Defendant executed various loan documents on 20.10.2022, when the account has classified as NPA and when the Legal Notice dated 10.02.2025 has issued to the Defendant to repay the entire outstanding in loan facilities, but the Defendant failed to pay the same.

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10.Summons were issued to the Defendants on 16.04.2025. Service has been done through Court Commissioner, despite service none appeared on behalf of the defendant to argue the matter.

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11.Heard arguments and perused the record.

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12.As stated supra, the Applicant Bank filed the evidence affidavit of Shri Ashish Gupta coupled with the recitals in the documents, viz Exhibit A/1 to A/7 marked on behalf of the applicant bank, clinches the claim of the applicant bank against the Defendants. Hence, I hold that the Defendants are jointly & severally liable to pay to the applicant bank the claim made in O.A. with future interest and costs.

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OA No. 509 of 2025

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13.In the result, this O.A. No. 509 of 2025 is allowed declaring that:-

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a) This is a personal loan against the sole defendant, the loan was granted on 20.10.2022. The documents have been filed and affidavit of evidence is also filed. The Tribunal is satisfied, therefore, this OA stands decreed.

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b) The Defendants are jointly & severally liable to pay to the applicant bank a sum of Rs. 25,49,795/- (Rupees Twenty Five Lac Forty Nine Thousand Seven Hundred Ninety Five only) with pendente lite and future interest @ 10% (simple) till the date of realization.

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c) The applicant bank is entitled to recover the above amount from the sale of the personal movable and immovable properties/assets of Defendants. The applicant bank is entitled to proceed against the same towards recovery of its debt.

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d) The applicant bank is entitled to the costs of the O.A.

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14.The recovery certificate be issued forthwith and be sent to the Recovery Officer, DRT, Jaipur.

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15.Parties are directed to appear before the Recovery Officer, DRT, Jaipur on 30.01.2026 .

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16.Prepare Recovery Certificate accordingly.

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OA No. 509 of 2025

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17.A copy of the Judgment and Recovery Certificate be given or sent by registered post to each of the parties free. A copy of the Recovery Certificate be sent to the Recovery Officer of this Tribunal for necessary action as per the law.

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(Vimal Gupta) Presiding Officer, Debts Recovery Tribunal, Jaipur

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Order pronounced in the open court today i.e. 17.12.2025 .

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(Vimal Gupta) Presiding Officer, Debts Recovery Tribunal, Jaipur

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OA No. 509 of 2025

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BEFORE THE DEBTS RECOVERY TRIBUNAL, JAIPUR

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PRESENT- SHRI VIMAL GUPTA

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PRESIDING OFFICER

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O.A. NO. 509 OF 2025

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DATE OF DELIVERY OF ORDER 17.12.2025

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RECOVERY CERTIFICATE

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(UNDER SUB Section 22 of the Recovery of Debts due to Banks and Financial Institutions Act, 1993 (Act 51 of 1993)

…..Applicant Bank…..

VERSUS

1. Sh. Dheeraj Khanna S/o Sh. Laxman Khanna, R/o House No. 1-E-27, Rajasthan Personal Board Colony, Banswara (Rajasthan).

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Also at: -

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Plot No. 19, Tirupati Vihar, Udaipur Road, Banswara327001 (Rajasthan).

……Defendants…..

OA No. 509 of 2025

Recovery Certificate for Rs. 25,49,795/-

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In terms of final order dated 17.12.2025 passed by this Tribunal in the above mentioned case, it is ordered that the-

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a) This is a personal loan against the sole defendant, the loan was granted on 20.10.2022. The documents have been filed and affidavit of evidence is also filed. The Tribunal is satisfied, therefore, this OA stands decreed.

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b) The Defendants are jointly & severally liable to pay to the applicant bank a sum of Rs. 25,49,795/- (Rupees Twenty Five Lac Forty Nine Thousand Seven Hundred Ninety Five only) with pendente lite and future interest @ 10% (simple) till the date of realization.

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c) The applicant bank is entitled to recover the above amount from the sale of the personal movable and immovable properties/assets of Defendants. The applicant bank is entitled to proceed against the same towards recovery of its debt.

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d) The applicant bank is entitled to the costs of the O.A. Parties are directed to appear before the Recovery Officer, DRT, Jaipur on 30.01.2026 .

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The Recovery Officer shall realize the amount as per this Certificate in the manner and mode prescribed under Section 25 and 28 of the Recovery of Debts Due to Banks and Financial

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OA No. 509 of 2025

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Institutions Act, 1993 (as amended from time to time) from the above named Certificate Debtor.

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This Certificate has been issued under my signatures and seal of the Tribunal on this 17.12.2025 .

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(Vimal Gupta) Presiding Officer, Debts Recovery Tribunal, Jaipur

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OA No. 509 of 2025

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BEFORE THE DEBTS RECOVERY TRIBUNAL, JAIPUR

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PRESENT- SHRI VIMAL GUPTA

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PRESIDING OFFICER

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O.A. NO. 509 OF 2025

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DATE OF DELIVERY OF ORDER 17.12.2025

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SCHEDULE TO RECOVERY CERTIFICATE

MEMO OF COST

…..Applicant Bank…..

VERSUS

1. Sh. Dheeraj Khanna S/o Sh. Laxman Khanna, R/o House No. 1-E-27, Rajasthan Personal Board Colony, Banswara (Rajasthan).

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Also at: -

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Plot No. 19, Tirupati Vihar, Udaipur Road, Banswara327001 (Rajasthan).

……Defendants…..

OA No. 509 of 2025

S.No.	Item of Costs	Amount (Rs.)
1	Fee on the Application	28,000.00
2	Process Fee (Inc. Publication)	NIL
3	Advocate Fee	1,250.00
4	Court Commissioner’s Fees	10,000.00
5	Commission/Receiver/Valuation	NIL
6	Miscellaneous Charges	NIL
	Total	39,250.00

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(Vimal Gupta) Presiding Officer, Debts Recovery Tribunal, Jaipur

OA No. 509 of 2025

17.12.2025

Counsel:

Sh. Kirti Kapoor, Counsel for Applicant Bank None for the Defendants

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Judgment dictated separately and pronounced in the open court. As per order the O.A. is allowed. Recovery Certificate be prepared accordingly and the Registry is directed to verify the Recovery Certificate as per Regulation 24(1) and (2) of Debts Recovery Tribunal Jaipur Regulation 2015 and after verification place the same before the Tribunal.

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(Vimal Gupta) Presiding Officer, Debts Recovery Tribunal, Jaipur

OA No. 509 of 2025

17.12.2025

Counsel:

Sh. Kirti Kapoor, Counsel for Applicant Bank None for the Defendants

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The Tribunal vide order dated 17.12.2025 , directed the Registrar to verify the Recovery Certificate as per Regulation 24(1) and (2) of Debts Recovery Tribunal Jaipur Regulation 2015.

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The Registrar vide order dated 17.12.2025 verified the Recovery Certificate as per Regulation 24(1) and (2) of Debts Recovery Tribunal Jaipur Regulation 2015. Recovery Certificate be prepared accordingly. Copy of the Judgment and Recovery Certificate be given free to the concerned parties as well as be sent to the Recovery Officer for further proceedings. File be put up before the Registrar for compliance. After compliance file be consigned to record.

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(Vimal Gupta) Presiding Officer, Debts Recovery Tribunal, Jaipur

State Bank of India v. Dheeraj Khanna

Case brief

What is this about?

What did the court decide?

State Bank of India v. Dheeraj Khanna

Case brief

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What did the court decide?

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