Allowed

State Bank of India v. Sanjay Ramrao Ruikar

DRT20 Mar 2026OA/185/2024

Case brief

AI extract

What is this about?

The tribunal disposed of an ex-parte application filed by State Bank of India for recovery of a housing loan default. The court allowed the application, granting principal, reduced future interest, and directions to sell the mortgaged property and issue a recovery certificate.

What did the court decide?

The defendant shall pay Rs. 27,69,764/- with future interest at 8% p.a. The applicant is entitled to sell the mortgaged property and recover dues. A Recovery Certificate is issued.

State Bank of India versus Sanjay Ramrao Ruikar — Contract and Commercial Disputes | DRT (2026)

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Presented on: 08.11.2023 Registered on: 13.03.2025 Decided on: 20.03.2026 Duration: Y M D 02 04 12

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IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 185/2024

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TOTAL CLAIM AMOUNT – Rs. 27,69,764/-

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STATE BANK OF INDIA, A body corporate constituted under the State Bank of India Act, 1955, having its Local Head office at Bandra-Kurla Complex, Mumbai, one of its office at Stressed Assets Recovery Branch (SARB), at CIDCO, Aurangabad and acting through its one of principal officer i.e. Manager Shri. Abhay S/o. Shridhar Boradkar, Age: 48 years, Occupation: Service as Manager State Bank of India, SARB, Aurangabad.

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… Applicant

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Versus

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Sanjay S/o. Ramrao Ruikar, Age: Major, Occ.: Business, R/o.:- Rajashri Niwas, Srinath Nagar, Taroda Bk. Nanded. 431605. AND

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Office At: Hotel City Pride, Airport Road, Nanded 431605.

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…Defendant.

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APPEARANCES

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For the Applicant For Defendant

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Mr. Sachin S. Katariya -Advocate Ex-parte

(OA No.185/2024)

Page 1 of 7

[AMBADAS]

JUDGMENT

Delivered on 20.03.2026

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The Applicant Bank has filed the present application for the recovery of a sum of Rs. 27,69,764/- (Rupees Twenty Seven Lacs, Sixty Nine Thousand, Seven Hundred and Sixty Four only), along with further interest from the date of filing of the Original Application, i.e., 08.11.2023, until the date of realization of the entire outstanding dues from the Defendant.

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Brief facts of the application are as under:

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The Applicant Bank states that the Defendant had approached and requested the Applicant Bank for Home Loan Facility. Upon considering the request and financial needs of the Defendant, the Applicant Bank sanctioned Housing Loan of Rs. 32,03,095/- vide sanction letter dated 03.01.2013 on certain terms and conditions. The agreed rate of interest for aforesaid loan facility was @ 10.25% per annum with monthly rests. The Defendant also

(OA No.185/2024)

Page 2 of 7

[AMBADAS]

agreed to pay additional interest @2% by way of liquidated damages in the event of any default in repayment.

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In order to secure the aforesaid loan facility, the Defendant executed various loan documents in favor of the Applicant Bank. These included sanction letter, housing loan agreement, letter of undertaking, registered mortgage deed bearing Sr. No. 170/2013 dated 07.01.2013 etc., in favor of applicant bank.

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The Applicant Bank further contends that, in order to secure the aforesaid loan facility, the Defendant created first charge over immovable property by executing registered mortgage deed bearing Sr. No. 170/2013 dated 07.01.2013 in favour of the Applicant Bank. The mortgage was created in respect of the following property:

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All that piece and parcel of Plot No. 22, Gut No. 116, Vishnipuri, Nanded, admeasuring 401.45 Sq. Mtrs.,, which is bounded as under: East: Plot No. 11, West: 7.50 Mtr., wide Road, North: Plot No. 23, South: Plot No. 21.

(OA No.185/2024)

Page 3 of 7

[AMBADAS]

The applicant bank contended that the defendant has failed to

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keep his promise and commitments agreed by him with regard to due repayment of the loan amount. The defendant failed to operate the loan account properly and failed to pay the agreed 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 on 28.02.2022. Therefore, on 10.10.2023 the applicant bank issued legal Notice to the defendant. The defendant failed and neglected to repay the outstanding dues of the applicant Bank. Hence, this application is filed.

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The defendant failed to appear in matter though he was served through court commissioner. Hence, the defendant was proceeded ex-parte as per Order dated 07.05.2025.

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The applicant Bank has filed Claim Affidavit of evidence at Exhibit-4 of Abhay S/o. Shridhar Boradkar, Manager of the

(OA No.185/2024)

Page 4 of 7

[AMBADAS]

applicant Bank, and has produced on record the original loan transaction documents as Exh. A-1 to A-15 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 defendant failed to appear and to file the written statement and did not contest the application, I find no reason to disbelieve the unrebutted 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 charge over immovable property of the borrower which is mortgaged in favour of the applicant bank.

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The applicant Bank has claimed future interest at @10.70% with monthly rests from the date of filing i.e. 08.11.2023 of this application till realization of the claim amount. However, considering the facts of the case, I am of the opinion that if future

(OA No.185/2024)

Page 5 of 7

[AMBADAS]

interest is granted @ 8% per annum (simple), it would be just and

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reasonable rate of interest.

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ORDER

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(A) Original Application No. 185/2024 is allowed with

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costs.

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(B) The defendant shall pay to the applicant Bank a sum of Rs. 27,69,764/- (Rupees Twenty Seven Lacs, Sixty Nine Thousand, Seven Hundred and Sixty Four only),along with future interest @ 8% per annum (simple) from the date of filing of the Original Application i.e. 08.11.2023 till full payment/realization of the amount mentioned in this operative order.

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(C) The aforesaid adjudicated amount is secured by the mortgage of the following immovable property vide documents at Exh A-4 and A-7 in list of documents Exh. 5.

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All that piece and parcel of Plot No. 22, Gut No. 116, Vishnipuri, Nanded, admeasuring 401.45 Sq. Mtrs.,, which is bounded as under:

(OA No.185/2024)

Page 6 of 7

[AMBADAS]

East: Plot No. 11, West: 7.50 Mtr., wide Road, North: Plot No. 23, South: Plot No. 21.

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(D) The applicant Bank is entitled to sell the mortgaged

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immovable property to recover its dues.

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(E) Issue Recovery Certificate accordingly.

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(F) The Registrar is directed to send the copy of the Judgment and Recovery Certificate to the applicant and defendant.

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(G) File be consigned to the record room.

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Sd/-

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Pronounced in open court. (Dr. J. R. Chauhan) Place: Aurangabad Presiding Officer Date:.20.03.2026 Debts Recovery Tribunal, Aurangabad

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(OA No.185/2024)

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Page 7 of 7

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[AMBADAS]

State Bank of India v. Sanjay Ramrao Ruikar

Case brief

What is this about?

What did the court decide?

State Bank of India v. Sanjay Ramrao Ruikar

Case brief

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What did the court decide?

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