DRT at Pune allowed anOriginalApplication filed by State Bank of India for recovery of Rs.35.37 crore. Being heard ex parte, the decretal amount was reduced to 9% simple interest. Recovery was secured via mortgage on mortgaged property.
Recovery of sum of Rs. 35,37,01,725/- along with future interest @ 9% per annum secured by 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 .. 14.12.2023 Registered on .. 09.05.2024 Decided on .. 08.05.2026 Duration .. Y—M—D 02--04--24
IN THE DEBTS RECOVERY TRIBUNAL AT PUNE (Before Shri Dilip G. Murumkar, Presiding Officer) ORIGINAL APPLICATION No. 153/2024.
State Bank of India,
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, Mumbai 400 021 and its branch at – Small Industries Branch, Godrej Castlemaine, Office No.2, Bund Garden Road, Next to Ruby Hall Clinic, Pune 411 001 where the Credit facilities were granted and thereafter account migrated to State Bank of India, Stressed Assets Management Branch II (SAMB-II), Ground Floor, Raheja Chambers, Free Press Journal Marg, Nariman Point, Mumbai 400 021.
… Applicant
Versus
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Demech House, City Survey No. 814/B, Final Plot No. 152B, Law College Road, Opp Bhandarkar Institute, Bhamburda, Pune 411 009.
Appearances :- For Applicant Advocate Sudha Koloti For Defendants Ex parte.
Total Claim Amount – Rs.35,37,01,725/-
JUDGMENT (Delivered on 08th May, 2026)
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Defendant No.1 is a partnership firm carrying on business of Real Estate Development and defendant Nos. 2 to 5 are partners of defendant No.1. Defendant No.1 is borrower and defendant Nos.2 to 4 are personal guarantors and defendant No.5 is corporate guarantor to the credit facilities granted to defendant No.1.
As per the loan application of defendant No.1 through defendant No.2, the applicant Bank sanctioned and disbursed the Project Specific Working Capital Term Loan facility of Rs.26,00,00,000/- to defendant No.1 vide Letter of Arrangement dated 02.05.2018. Defendant Nos.2 to 5 stood guarantors for the repayment of loan availed by defendant No.1.
In order to secure the aforesaid loan facility, the defendants have executed necessary loan and security documents in favour of the applicant Bank. Defendant Nos. 1 to 3 have also executed registered deed of
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mortgage dated 15.06.2018 in favour of the applicant Bank in respect of all that piece and parcel of land or ground of residential building bearing Survey No. 385/1 admeasuring total area 39600 square meters situated at Mouje Bhugaon, Taluka Mulshi, Pune.
Further, the applicant Bank sanctioned Covid-19 FITL as per RBI guidelines for an amount of Rs.24,92,216/- vide Arrangement Letter dated 28.01.2021. Thereafter, defendant No.1 through defendant No.2 again approached the applicant Bank with request for extension of DCCO from 08.09.2021 and accordingly, the applicant Bank restructured the credit facilities and extended period till repayment of principal vide Letter of Arrangement dated 30.12.2021, consisting of two facilities i.e. Project Specific Working Capital Limit of Rs.26,00,00,000/- and FITL of Rs.6,84,00,000/- and the defendants have executed necessary loan and security documents in favour of the applicant Bank.
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guidelines of Reserve Bank of India. Thereafter, on 20.11.2023, the applicant Bank issued legal Notice to the defendants. Despite service of Notice, the defendants failed and neglected to pay the outstanding dues of the applicant Bank.
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O R D E R
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No. 5.12 of the Original Application.
Sd/( Dilip G. Murumkar ) Place : Pune Presiding Officer Date : 08.05.2026 Debts Recovery Tribunal, Pune.
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2 issues framed by the court
Whether the applicant bank is entitled to recover the claimed dues along with future interest.
Whether the mortgaged property can be implicated to secure the adjudicated amount.
State Bank of India
M/s. Venkateshwara Associates
Mr. Abhijit Suresh Jadhav
Mrs. Soniya Abhijit Jadhav
Mrs. Shailaja Yashwant Tarte
M/s. Tarte Housing Private Limited
Dilip G. Murumkar
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
