The Debts Recovery Tribunal allowed the bank's application for recovery of Rs. 23,66,718/- along with future interest at 10% p.a. as the defendant did not appear to contest the case.
Payment of Rs. 23,66,718/- plus future interest at 10% p.a. from filing date; authorization to sell hypothecated assets; issue of Recovery Certificate.
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: 03.03.2022 Registered on: 04.05.2022 Decided on: 27.01.2026 Duration: Y M D 03 10 24
IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 113/2022
TOTAL CLAIM AMOUNT – Rs. 23,66,718/-
CANARA BANK,
A Body Corporate constituted under the Banking companies (Acquisition & Transfer of Undertakings) Act, 1970, having its Head Office at 112 JC Road, Bangalore Karnataka State and one of its Branch At Plot No. 1, Sarada Arcade, Friends Colony, Railway Station Road, Aurangabad-01 , through its Chief
Manager Mr. Ravikumar Krishnaiah D.
… Applicant
Versus
1. Rahul Prakash Surdakar, Proprietor of M/s. Dhanashri Enterprises, Age: 26 years, Occ.: Business, R/o.: Room No. 2, MIDC, Staff Building No. 7, Near M.C.E.D., MIDC Colony, beside Old MIDC, Aurangabad.
…Defendant
(OA No.113/2022)
Page 1 of 7
[AMBADAS]
APPEARANCES
For the Applicant For Defendant
Mr. Sameer J. Pande -Advocate Ex-parte
JUDGMENT
Delivered on 27.01.2026
conditions. The agreed rate of interest for the aforesaid loan was
(OA No.113/2022)
Page 2 of 7
[AMBADAS]
@10.50% p.a. with monthly rests. The Defendant also agreed to
pay additional interest @2% by way of liquidated damages in the event of any default in repayment.
(OA No.113/2022)
Page 3 of 7
[AMBADAS]
rate of interest as per terms and conditions of the sanction 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. Therefore, on 12.02.2022 the applicant bank issued legal notice to the defendant through their advocate. Despite service of Notices, the defendant failed and neglected to repay the outstanding dues of the applicant Bank. Hence, this application is filed.
(OA No.113/2022)
Page 4 of 7
[AMBADAS]
documents Exh.5 which corroborates the case of the applicant Bank.
(OA No.113/2022)
Page 5 of 7
[AMBADAS]
ORDER
(OA No.113/2022)
Page 6 of 7
[AMBADAS]
Sd/-
Pronounced in open court. Place: Aurangabad Date:.27.01.2026
(Dr. J. R. Chauhan) Presiding Officer Debts Recovery Tribunal, Aurangabad
(OA No.113/2022)
Page 7 of 7
[AMBADAS]
1 issue framed by the court
Whether the debtor failed to repay the sanctioned term loan and defaulted on agreed interest and liquidated damages.
1 provisions across 1 enactments
Canara Bank
Dr. J. R. Chauhan
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
