Debts Recovery Tribunal allowed the bank's application for recovery of loan dues, ordering the defendant to pay principal and future interest, with charge over mortgaged property.
Recovery of Rs. 28,89,643/- plus 8% simple annual interest; direction to sell mortgaged property.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
Presented on: 03.07.2024 Registered on: 17.08.2024 Decided on: 26.08.2025 Duration: Y M D 01 01 23
IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 641/2024
TOTAL CLAIM AMOUNT – Rs. 28,89,643/-
STATE BANK OF INDIA
A body corporate constituted under the provisions
of State Bank of India Act, 1955 (23 of 1955) having
it’s one of Local Head office at Synergy, BandraKurla Complex, Bandra (E), Mumbai, & Branches amongst the other places at RACPC, Aurangabad & having Stressed Asses Recovery Branch (SARB) at Plot No. 79, N-5, CIDCO Aurangabad-431003 through is Authorized Officer, Mr. Sunil Dutt s/o Jagdish Chander (Dy. Manager & CCO), Age: 52 yrs., Occu.: Service, R/o. CIDCO Aurangabad.
… Applicant
(OA No.641/2024)
Page 1 of 8
[AMBADAS]
Versus
Mr. Akhilesh Kumar Upadhyay Age: Major, Occu.: Business, R/o.: C/o Mohd. Yunus Babamiya, Plot No. 36, Priya Colony, Padegaon Aurangabad 431001
AND/OR
Mr. Akhilesh Kumar Upadhyay Age: Major, Occu.: Business, R/o.: Flat No. 8, 2nd Floor, A-Building, M Square, Height, Gut No.269, Mitmita Aurangabad 431001 …Defendant APPEARANCES For the Applicant Mr. K. D. Pande Advocate For Defendant Ex-parte
JUDGMENT Delivered on 26.08.2025
(OA No.641/2024)
Page 2 of 8
[AMBADAS]
Application, i.e., 03.07.2024, until the date of realization of the entire outstanding dues from the Defendant.
Brief facts of the application are as under:
(OA No.641/2024)
Page 3 of 8
[AMBADAS]
loan, registered sale deed bearing daybook no. 3120 dated
24.04.2023 & registered Correction deed bearing daybook No.
3221 dated 27.04.2023, etc in favour of the Applicant Bank.
All that piece & parcel of Flat No. 8 admeasuring carpet area 712 sq.ft. & built-up area admeasuring 818 sq.ft. on 2nd Floor, M- Square Heights, A-Building constructed on Gut No. 269, situated at Mitmita Aurangabad which is bounded as under:
East: - 15.00 mtr. Road & Wall Compound West: - Flat No. 05 North:- Staircase South: - 9.00 mtr. Road
(OA No.641/2024)
Page 4 of 8
[AMBADAS]
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 agreement 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 24.04.2024. Therefore, on 28.06.2024 the 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.
(OA No.641/2024)
Page 5 of 8
[AMBADAS]
of the applicant Bank, and has produced on record the original loan transaction documents as Exh. A-1 to A-16 as per list of documents Exh. 5 which corroborates the case of the applicant Bank.
(OA No.641/2024)
Page 6 of 8
[AMBADAS]
of the case, I am of the opinion that if future interest is granted @ 8 % per annum (simple), it would be just and reasonable rate of interest.
ORDER
(OA No.641/2024)
Page 7 of 8
[AMBADAS]
as well as Exh. A-11 and Exh. A-12 in list of documents Exh. 5.
All that piece & parcel of Flat No. 8 admeasuring carpet area 712 sq.ft. & built-up area admeasuring 818 sq.ft. on 2nd Floor, M-Square Heights, A-Building constructed on Gut No. 269, situated at Mitmita Aurangabad which is bounded as under:
East: - 15.00 mtr. Road & Wall Compound West: - Flat No. 05 North:- Staircase South: - 9.00 mtr. Road
(G)
Pronounced in open court. Place: Aurangabad Date:. 26.08.2025
(Dr. J. R. Chauhan) Presiding Officer Debts Recovery Tribunal, Aurangabad
(OA No.641/2024)
Page 8 of 8
[AMBADAS]
State Bank of India
Akhilesh Kumar Upadhyay
Dr. J. R. Chauhan
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
