Allowed

State Bank of India v. Mr. Sandip Ghorpade

DRT8 Aug 2025OA/961/2023

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed the bank's ex-parte application for recovery of Rs.52.83 lakhs car loan dues from the defendants, who failed to appear. The court reduced the claimed future interest rate to 9% p.a. and directed recovery against the hypothecated vehicle.

What did the court decide?

Defendants to pay Rs.52,83,202/- with 9% p.a. simple interest; recovery certificate issued; right to sell hypothecated vehicle reserved.

State Bank of India versus Mr. Sandip Ghorpade — Contract and Commercial Disputes | DRT (2025)

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Presented on: 31.12.2022 Registered on: 24.05.2023 Decided on: 08.08.2025 Duration: Y M D 02 07 08

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IN THE DEBTS RECOVERY TRIBUNAL AT PUNE (Before Shri Dilip G. Murumkar, Presiding Officer) ORIGINAL APPLICATION No.961/2023.

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State Bank of India ,

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A Banking Company constituted under the State Bank of India Act, 1955, having its Corporate Office at State Bank Bhavan, Nariman Point, Madam Cama Road, Mumbai400021 and its Branch at University Road Branch, Rage Path, Revenue Colony, Shivajinagar, Pune-411 005.

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Versus

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Mr. Sandip Balu Ghorpade

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… Applicant

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Mrs. Sujata Sandip GHorpade Both (i) Plot No.29, S.No.31/5,6,7 Narhe, Pune-411 041.

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(ii) Near Z.P. School, A/p Takewadi, Tal. Man, District Satara- 415 508.

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… Defendants

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APPEARANCES

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For the Applicant Mrs. Sudha Koloti – Advocate For the Defendants Ex parte. TOTAL CLAIM AMOUNT –Rs. 52,83,202/-

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JUDGMENT (Delivered on 8^th August, 2025)

(OA No.961/2023)

Page 1 of 5

[ANIL]

The Applicant Bank has filed present Application for recovery of sum of Rs.52,83,202/- towards Car Loan A/c No.38004569867 together with future interest thereon @9.65% p.a. with monthly rests from 31.12.2022 till full repayment/realization of entire dues from the defendants.

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Brief facts of the application are as under:-

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Defendants approached the applicant bank on 09.10.2018 for financial assistance of Rs.50,91,000/- to purchase J Jaguar XE 2.0 L Diesel Prestige.

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The applicant bank favourably considered the loan application and sanctioned loan of Rs.50,91,000/- on 10.10.2018 on certain terms and conditions mentioned in the Letter of Arrangement.

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Defendants have executed the agreement of Loan-cumHypothecation dated 10.10.2018 and thereby hypothecated Jaguar XE 2.0L Diesel Prestige having RTO Registration No. MH-11-CQ0055, Engine No.180319P 0001204DTF and Chassis No. SAJAB 4AN0JL996594 in favour of the applicant as set out in para. No.5.8 of the Original Application.

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In pursuance to the execution of the said documents, the applicant bank opened a Loan Account No.38004569867 in the name of defendants with University Road Branch of the applicant bank and disbursed the said amount in the said loan account, but the same was used by defendant by way of transfer to one M/s Assets Cars Pvt. Ltd, Wakdewadi, Pune.

(OA No.961/2023)

Page 2 of 5

[ANIL]

The applicant Bank further contended that during the scrutiny the applicant came to know about some irregularities in the account and on thorough investigation, it was learnt that the defendant has submitted inflated quotation and availed more loan as per bank policy and also against RBI guidelines. Thus, defendants have misappropriated the fund and diluted the security as the actual value of the vehicle is much less than what was presented by the defendant through forged documents. Therefore, the applicant lodged complaint with Economic Offences Wing, Dy. Commissioner of Pune on 07.11.2022.

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The applicant Bank further contended that the defendants failed and neglected to comply with the terms and conditions in which the said Car Loan was granted. Therefore, the account of the defendant has been classified as Non-Performing Asset on 10.04.2021 as per the RBI guidelines. Thereafter, the applicant Bank through Advocate Sudha Koloti issued Legal Notice dated 03.09.2022 calling upon defendants to pay outstanding plus interest and other charges. Despite receipt of Notice, defendants neglected to repay the outstanding dues in both the accounts. Hence, this application is filed.

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Despite service of summons, defendants failed to appear. Hence, application proceeded ex-parte against defendants & order of ex-parte hearing is passed on 02.05.2025 below application (Exh.-1).

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The applicant Bank has filed Claim Affidavit of evidence (Exhibit-6) of Mr. C. Karthikeyan, Chief Manager, which supports the case of

(OA No.961/2023)

Page 3 of 5

[ANIL]

the applicant Bank elucidated in the application. The defendant has committed fraud and committed fraud and criminal action is initiated against him by the applicant bank with EOW on 07.11.2022. Therefore, EOW has called for original documents from the applicant bank. Thus, the applicant bank has led secondary evidence by filing notarized copies of documents at Sr. Nos. 1 to 11. The documents from AW-1/12 to AW-18 are filed in original.

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Since the complaint is in process and the same facts have been mentioned in the claim affidavit, I take into consideration the secondary evidence in respect of loan documents led by 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 evidence of the applicant Bank. Therefore, the applicant Bank is entitled for the reliefs as claimed.

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The Applicant Bank has claimed future interest @9.65% p.a. with monthly rests. However, considering the facts of the case, I am of the opinion that if future interest is granted @9% p.a. (simple) for the said loan facility, it would be just and reasonable rate of interest.

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Hence, I pass the following order:-

(OA No.961/2023)

Page 4 of 5

[ANIL]

ORDER

(A) Original Application No.961/2023 is allowed with costs.

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(B) Defendants No.1 & 2 either jointly or severally shall pay an amount of Rs.52,83,202/- (Rupees Fifty Two Lakhs Eighty Three Thousand Two Hundred Two only) to the applicant bank towards Car Loan A/c No.38004569867 with future interest @9% p.a. from the date of filing of the Original Application i.e.31.12.2022 till full realization of the amount mentioned in this operative order.

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(C) The aforesaid adjudicated amount is secured by executing an Agreement of Loan-cum-Hypothecation dated 10.10.2018 thereby hypothecated vehicle Jaguar XE 2.0L Diesel Prestige having RTO Registration No. MH-11-CQ0055, Engine No.180319P 0001204DTF and Chassis No. SAJAB 4AN0JL996594 in favour of the applicant as set out in para. No.5.8 of the Original Application.

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(D) The applicant bank is entitled to sell the hypothecated vehicle 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 Bank and defendants.

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Place : Pune

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Date : 08.08.2025

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Sd/- (Dilip G Murumkar) Presiding Officer, Debts Recovery Tribunal, Pune.

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(OA No.961/2023)

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Page 5 of 5

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[ANIL]

State Bank of India v. Mr. Sandip Ghorpade

Case brief

What is this about?

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State Bank of India v. Mr. Sandip Ghorpade

Case brief

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