Allowed

State Bank of India v. Shivdayal

DRT12 Jun 2026OA/141/2024

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed the applicant bank's recovery application filed under Section 19 of the RDB Act, establishing liability of borrowers and a beneficiary for term loans with future interest but disallowed penal interest.

What did the court decide?

Defendants to pay Rs. 55,91,182.88 with 9% future interest jointly and severally; Defendant 1 to pay Rs. 3,98,085 with 9% future interest; Issue Recovery Certificate.

State Bank of India versus Shivdayal — Banking and Recovery | DRT (2026)

¶1

Page 1 of 5 O.A. No. 141/2024

¶2

PRESENTED ON : 28.03.2024 REGISTERED ON : 15.06.2024

¶3

Exh. No. 11

¶4

BEFORE THE PO, DEBTS RECOVERY TRIBUNAL, NAGPUR

¶5

Delivered by Pankaj Kumar

¶6

O.A. No. 141/2024

¶7

State Bank of India

¶8

: Applicant

¶9

A corporation constituted under the State Bank of India Act, 1955, Stressed Assets Recovery Branch, 5, Sai Complex, Bharat Nagar, Nagpur – 440033

¶10

Phone No. 0712-2567934

¶11

Email – [email protected]

¶12

IFSC Code No. SBIN0010152

¶13

Acting through its one of the Principal Officer Chief Manager i.e. Smt. Sujata Anil Chauthaiwale, authority to

¶14

file the Original Application which includes the authority to verify & sign the Original Application.

¶15

Versus

¶16

1. Mr. Shivdayal Matabadal Keshkar (Borrower)

¶17

: Defendants

¶18

Aged about : 47 years

¶19

R/o. Sardar Patel Ward, Ballarpur

¶20

Ballarpur – 442401

¶21

PAN No. – AZWPK2094D

¶22

2. Mr. Prashant S/o. Sudhakarrao Kashettiwar

¶23

(Beneficiary)

¶24

Proprietor of Deul Construction

¶25

Aged about : 50 Years, Occupation : Business

¶26

Page 2 of 5 O.A. No. 141/2024

¶27

R/o. Baazarwadi, Near Dena Bank,

¶28

Chandrapur – 442401

¶29

PAN No. AKVPK3205A

¶30

Learned Counsel for Applicant	Adv. Anita Bhojwani
Defendants Set Exparte On	02.04.2025

¶31

JUDGMENT

¶32

(Delivered on 12^th Day of June, 2026)

¶33

This is an application filed by the applicant U/s . 19 of RDB Act, 1993 against defendants for recovery of aggregate amount of Rs. 59,91,101/- with monthly rests from the date of filing of O.A. till the date of realization as under :

¶34

A. An amount of Rs. 55,93,007.88/- outstanding in Term Loan Account No. 38219096261 with costs and future interest @9.05% p.a. with monthly rests from the date of filing of O.A. till the date of realization.

¶35

B. An amount of Rs. 3,98,094/- outstanding in Term Loan Account No. 38237918601 with costs and future interest @9% p.a. with monthly rests from the date of filing of O.A. till the date of realization.

¶36

Though, defendants were duly served with the suit summons vide Exh. 5 & 6, they failed to cause appearance before this Tribunal to

¶37

Page 3 of 5 O.A. No. 141/2024

¶38

defend their case despite granting several adjournments. Hence , the proceeding against defendants was set exparte on 02.04.2025.

¶39

The applicant has filed its Claim Affidavit (Exh. 7) alongwith List of Documents (Exh. 8), annexing therewith 10 documents. The original documents therein are marked as Exh. AW-1/1 to AW-1/8 respectively. It has been stated by the applicant in O.A. as well as in Claim Affidavit that penal interest of Rs. 1,825/- has been applied in Term Loan Account No. 38219096261 and penal interest of Rs. 9 has been applied in Term Loan Account No. 38237918601.

¶40

Heard Learned counsel for the applicant. The Ld. Counsel for the applicant has drawn attention of this Tribunal towards the order passed by the Hon’ble High Court of Judicature at Bombay, Nagpur Bench, Nagpur in Writ Petition No. 4106/2012 to 4128/2012 dated 09.10.2012 whereby it has been held that in the prevailing circumstance the defendant no. 2 is also liable to repay the outstanding loan amount granted to defendant no. 1 since the entire loan amount granted to defendant no. 1 has been paid to defendant no. 2 at the request of defendant no. 1.

¶41

As stated supra, defendants remained exparte. The Evidence Affidavit coupled with the recitals in the documents marked as viz. Exh. AW-1/1 to AW-1/8 filed on behalf of the applicant, clinches the claim of the applicant against defendants. There is no reason to disbelieve the evidence adduced on behalf of applicant. Hence, defendants are liable to pay, jointly and severally, the claim of applicant with costs

¶42

Page 4 of 5 O.A. No. 141/2024

¶43

and future interest in respect of Term Loan Account No. 38219096261 and defendant no. 1 is liable to pay the claim of applicant with costs and future in respect of Term Loan Account No. 38237918601 . However, I am not inclined to allow penal interest of Rs. 1,825 /- applied in Term Loan Account No. 38219096261 and penal interest of Rs. 9 applied in Term Loan Account No. 38237918601.

¶44

Hence, it is ordered as under:-

¶45

ORDER

¶46

A] O.A. No. 141/2024 is allowed to the extent as under with costs.

¶47

B] Defendants to pay jointly and severally to the applicant bank an amount of Rs. 55,91,182.88/- (Rupees Fifty Five Lakh Ninety One Thousand One Hundred Eighty Two and Paise Eighty Eight Only) outstanding in Term Loan Account No. 38219096261 with simple future interest @9% p.a. from the date of filing of O.A. till its realization.

¶48

C] Defendant no. 1 to pay to the applicant bank an amount of Rs. 3,98,085/- (Rupees Three Lakh Ninety Eight Thousand Eighty Five Only) outstanding in Term Loan Account No. 38237918601 with simple future interest @9% p.a. from the date of filing of O.A. till its realization.

¶49

D] It is declared that outstanding dues are secured by mortgaged immovable property as described in Schedule annexed to O.A. and as referred in Exh. AW-1/3 & AW-1/4.

¶50

Page 5 of 5 O.A. No. 141/2024

¶51

E] Issue Recovery Certificate accordingly.

¶52

F] The Registrar is directed to send the copy of Judgment and

¶53

Recovery Certificate to the parties to this O.A at once.

¶54

Nagpur (Pankaj Kumar) Presiding Officer Date: 12.06.2026 Debts Recovery Tribunal Nagpur

State Bank of India v. Shivdayal

Case brief

What is this about?

What did the court decide?

State Bank of India v. Shivdayal

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Cases cited

Statutes considered

Parties & counsel

Coram

Case details

Similar cases

Mr. Ramkumar Chunnilal Gupta and Another versus Au Small Finance Bank Limited

Shri Jayant So Shyam Lohbare versus Fullerton India Credit Co. Ltd.

Suresh Kumar versus Omkara Assets Reconstruction Private Limited

Nehru Smaraka Vidya Kendra versus Religare Finvest Limited

Ms Maruthi Enterprises versus M/S Religare Finvest Limited

Ram Pal Arora versus Cholamandlam Investment and Finance Company Ltd.