Allowed

State Bank of India v. Vijay Gopalrao Patekar

DRT5 Aug 2025OA/767/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an application by State Bank of India for recovery of dues. The defendants failed to appear. The Tribunal directed payment of the principal sum along with future interest at 9% per annum, secured by the mortgaged property, and issuance of a Recovery Certificate.

What did the court decide?

Defendants directed to pay Rs. 1,22,46,982/- plus 9% simple future interest; Recovery Certificate issued.

State Bank of India versus Vijay Gopalrao Patekar — Banking and Recovery | DRT (2025)

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Presented on: 09.09.2024 Registered on: 09.09.2024 Decided on: 05.08.2025 Duration: Y M D - - 10 26

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IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Shri Dr. J. R. Chauhan Presiding officer)

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TOTAL CLAIM AMOUNT – Rs.1,22,46,982/-.

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ORIGINAL APPLICATION No.767/2024

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State Bank of India , A body corporate constituted under the provisions of the State Bank of India Act, 1955 (23 if 1955) having it’s one of Local Head office at Synergy, Bandra-Kurla Complex, Bandra €, Mumbai & Branches amongst the other places at Ahmednagar & having Stressed Assets Recovery Branch (SARB) at Plot No.79, N-5, CIDCO Aurangabad – 431 003 through its Authorized Officer, Mr. Nanasaheb Bhimaji Kolpe (Manager & CCO), Age: 46 yrs., Occu: Service, R/o. CIDCO, Aurangabad.

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… Applicant

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Vijay Gopalrao Patekar Age: Major, Occu.: Business, R/o: At Anandi Swami Galli, Near Shani Mandir, Old Jalna, Jalna 431203.

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AND / OR

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Vijay Gopalrao Patekar Age: Major, Occu.: Business, R/o: At Plot No. 16, CTS No. 7339/B-16, Survey No. 405/A, Income Tax Colony, Off Station Road, Jalna 431203

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2. Vishnu Vijay Patekar Age: Major, Occu.: Business, R/o: At Anandi Swami Galli, Near Shani Mandir, Old Jalna, Jalna 431203

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AND / OR

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Vishnu Vijay Patekar Age: Major, Occu.: Business, R/o: At Plot No. 16, CTS No. 7339/B-16, Survey No. 405/A, Income Tax Colony, Off Station Road, Jalna 431203

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3. Mrs. Sonal Vishnu Patekar

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Age: Major, Occu.: Business, R/o: At Anandi Swami Galli, Near Shani Mandir, Old Jalna, Jalna 431203

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AND / OR

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Sonal Vishnu Patekar Age: Major, Occu.: Business, R/o: At Plot No. 16, CTS No. 7339/B-16, Survey No. 405/A, Income Tax Colony, Off Station Road, Jalna 431203

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4.Asha Vijay Patekar

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Age: Major, Occu.: Business, R/o: At Anandi Swami Galli, Near Shani Mandir, Old Jalna, Jalna 431203

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AND / OR

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Asha Vijay Patekar Age: Major, Occu.: Business, R/o: At Plot No. 16, CTS No. 7339/B-16, Survey No. 405/A, Income Tax Colony, Off Station Road, Jalna 431203

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5. Ganesh Laxman Satkar

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Age: Major, Occu.: Business,

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R/o: At Gawali Mohalla, Near Shani Mandir, Old Jalna, Jalna 431203

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Defendants

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APPEARANCES

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For the Applicant Mr. K. D. Pande - Advocate For Defendants Exparte

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JUDGMENT (Delivered on 5^th August, 2025)

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The Applicant Bank has filed the present application for recovery of the sum of Rs. 1,22,46,982/- (Rs. One Crore Twenty Two Lacs Forty Six thousand Nine Hundred Eighty Two Only) together with interest 12% per annum with monthly rests upon Housing loan from 15.07.2024 till the full realization of the entire dues and costs from the defendants.

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Brief facts of the application are as under :

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That, the Defendant Nos. 1 to 4 had approached to the Applicant Bank and requested to sanction a loan against property. Upon considering the representations/requests and need of the defendants, the Applicant Bank sanctioned

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Rs. 85,00,000/- vide arrangement letter dated 29.01.2020 on certain terms & conditions. The agreed rate of interest was @ 9.65 % per annum with monthly rests. The defendant no.5 stood as guarantor for the repayment of loan facility advanced to defendant nos.1 to 4. The defendants also agreed to pay an additional interest by way of liquidated damages @ 2% p.a. in case of default in repayment.

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In order to secure the aforesaid loan facilities, the defendants executed loan documents in favour of the applicant bank namely arrangement letter, agreement of loan dated 29.01.2020, memorandum of deposit dated 05.05.2021, confirmation letter dated 10.05.2021, registered sale deed bearing daybook no.1220 dated 22.03.2016, guarantee agreement dated 29.01.2020, vide list of documents Exh.5.

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The applicant bank contended that to secure the loan against property facility, the defendants have created equitable mortgage of their immovable property by depositing registered title deed bearing daybook no. 1220 dated 22.03.2016 in favour of the applicant bank in respect of following property.

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All that piece and parcel of Plot No. 16 admeasuring 200 sq.mtrs., total built-up area 165.04 sq.mtrs. forming part of CTS No. 7339/B-16, Survey No. 405/A, situated at Income Tax Colony, Jalna which is bounded as under: East : 6.00 mtr. internal road West : Part of Survey No. 405 South : Plot No. 17 North : Plot No. 15

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The applicant bank contended that the defendants have failed 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 within a year and failed to pay the agreed rate of interest as per terms and conditions of the arrangement 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 non-

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[DAK] (OA No.767/2024) Page 6 of 9

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performing asset on 31.03.2024. Therefore on 24.07.2024, 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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The defendants failed to appear in the matter though they were duly served, hence the defendants proceeded exparte as per Order dated 21.04.2025.

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The applicant Bank has filed Claim Affidavit of Evidence (Exhibit-4) ofNanasaheb s/o. Bhimji Kolpe , Manager & CCO of the applicant Bank and has produced on record the original loan transaction documents as Exh. A-1 to A-11, 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

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Bank is entitled for reliefs as claimed.

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The applicant Bank has claimed future interest @ 12% per annum with monthly rests compoundable from 24.07.2024 till the full realization of the entire dues and costs from the defendants. However, considering the facts and circumstances 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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ORDER

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(A) Original Application No.767/2024 is allowed with costs.

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(B) Defendants are ordered and directed to pay jointly and severally to the applicant the aggregate sum of Rs. 1,22,46,982/- (Rs. One Crore Twenty Two Lacs Forty Six thousand Nine Hundred Eighty Two Only) alongwith future interest @ 9% per annum (simple) from 09.09.2024 till full payment/realization of the amount.

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[DAK] (OA No.767/2024) Page 8 of 9

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mortgage of the following immovable properties-

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All that piece and parcel of Plot No. 16 admeasuring 200 sq.mtrs., total built-up area 165.04 sq.mtrs. forming part of CTS No. 7339/B16, Survey No. 405/A, situated at Income Tax Colony, Jalna which is bounded as under: East : 6.00 mtr. internal road West : Part of Survey No. 405 South : Plot No. 17 North : Plot No. 15

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(D) The applicant bank is entitled to sell the mortgaged immovable 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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(G) File be consigned to the record room after due compliance.

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Sd/Place : Aurangabad. (Dr. J. R. Chauhan) Date : 05.08.2025. Presiding Officer Debts Recovery Tribunal, Aurangabad

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State Bank of India v. Vijay Gopalrao Patekar

Case brief

What is this about?

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State Bank of India v. Vijay Gopalrao Patekar

Case brief

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