Allowed

State Bank of India v. Dhananjay Solaskar

DRT2 Feb 2026OA/188/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an application filed by the State Bank of India against a farmer for recovery of outstanding dues. After the defendant appeared ex parte, the court adjusted the claim amount and fixed the future interest rate at 9% simple interest, securing the debt against the mortgaged agricultural land.

What did the court decide?

Defendant to pay Rs. 63,67,529/- with future interest at 9% p.a. (simple); recovery secured by charge on agricultural land; recovery certificate issued.

State Bank of India versus Dhananjay Solaskar — Contract and Commercial Disputes | DRT (2026)

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Presented on: 11.07.2022 Registered on: 16.02.2023 Decided on: 02.02.2026 Duration: Y M D 03 06 21

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IN THE DEBTS RECOVERY TRIBUNAL AT PUNE (Before Shri Dilip G. Murumkar, Presiding Officer) ORIGINAL APPLICATION No.188/2023.

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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, Mumbai-400021 and its Stressed Asset Recovery Branch at Vardhaman Building, 2^nd floor, 321/A/3, 7 Mahatma Phule Chowk, Seven Loves Chowk, Shankar Sheth Road, Pune-411 042.

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… Applicant

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Versus

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Mr. Dhananjay Hanmantrao Solaskar Age Adult, Occ.:- Agriculturist, R/at & Post Solashi, Taluka Koregaon, District Satara 415 501.

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… Defendant

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APPEARANCES

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For the Applicant Mr. R. B. Ganbote – Advocate. For the Defendant Ex parte. TOTAL CLAIM AMOUNT –Rs.63,71,612/-.

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JUDGMENT (Delivered on 2^nd February, 2026)

(OA No.188/2023)

Page 1 of 6

[ANIL]

The Applicant Bank has filed present Application for recovery of an aggregate sum of Rs.63,71,612/- towards Term Loan & KCC together with future interest thereon @16.75% p.a. with monthly rests from the date of filing of this application till full repayment/realization of entire dues from the defendant.

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Brief facts of the application are as under:-

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Defendant approached the applicant bank on 20.03.2015 and requested for Term Loan of Rs.20 Lakhs for Land Development and KCC of Rs.10 Lakhs as Crop Loan.

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Applicant bank considered the request of Defendant and sanctioned him Term Loan of Rs.20 Lakhs for Land Development and KCC of Rs.10 Lakhs as Crop Loan, on certain terms and conditions, as described in Para No.5.4 of the Original Application.

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Defendant has executed the loan transaction and security documents on 30.03.2015 in favour of the applicant bank for securing Term Loan of Rs.20 Lakhs for Land Development and KCC of Rs.10 Lakhs as Crop Loan, more particularly described in Para No.5.5 of the Original Application.

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Defendant has also created ‘E’ Karar (Declarative Mortgage) on 27.03.2015 under Maharashtra Provision of Facilities for Agricultural Credit by Banks Act, 1974 as per Section 5(1) of the said Act for securing the credit facilities sanctioned to the defendant by the applicant bank.

(OA No.188/2023)

Page 2 of 6

[ANIL]

Description of Charged Property : -

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All that piece and parcel of agriculture land bearing Gat No.208 and Gat No.212 totally admeasuring 03H 73Aar at village Solashi, Taluka Koregaon, within the limits of Registration District Satara, Sub Registration District Koregaon, District – Satara, more particularly described in Para No.5.7 of the Original Application.

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The applicant Bank further contended that defendant failed and neglected to comply with terms and conditions in which the said facilities were granted. Defendant has committed breach of the sanction terms and conditions and hence the defendant’s accounts were turned NPA as per Reserve Bank of India norms. Therefore, the applicant through advocate Ramesh B. Ganbote issued Legal Notice dated 31.05.2022 to the defendant and called upon them to repay the entire amount outstanding under KCC and Term Loan accounts. The defendant failed to comply with the requisitions contained in the Legal Notice and failed to repay the amounts outstanding in the said loan accounts.

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Hence, this application is filed.

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Despite service of summons, defendant failed to appear. Hence, application proceeded ex-parte against defendant & order of ex-parte hearing is passed on 12.06.2025 below application (Exh.-1).

(OA No.188/2023)

Page 3 of 6

[ANIL]

The applicant Bank has filed Claim Affidavit of evidence (Exhibit-6) of Mrs. Padmaja Pol, Chief Manager (SARB), which supports the case of the applicant Bank elucidated in the application. The applicant Bank has produced on record the original loan transaction documents (Sr.Nos.AW-1/1 to AW-1/11) which corroborate 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 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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Applicant bank has claimed Penal Interest of Rs.4,083/- for KCC which cannot be granted and the same is required to be deducted from the total claim amount. Therefore, the total claim amount of Rs.63,71,612/- is reduced to Rs.63,67,529/-.

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Applicant Bank has claimed future interest @16.75% p.a. for both the loan facilities. However, considering the facts of the case, I am of the opinion that if future interest is granted @9% p.a. (simple) for all the loan facilities, it would be just and reasonable rate of interest.

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Hence, I pass the following order:-

(OA No.188/2023)

Page 4 of 6

[ANIL]

ORDER

(A) Original Application No.188/2023 is allowed with costs.

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(B) Defendant shall pay an amount of Rs. 63,67,529/- (Rupees Sixty-Three Lakhs Sixty-Seven Thousand Five Hundred Twenty-Nine only) to the applicant bank as under –

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(i)- Out of Rs.63,67,529/-, Defendant shall pay an amount of Rs.44,10,586 /- (Rupees Fourty Four Lakhs Ten Thousand Five Hundred Eighty-Six only) towards Term Loan with future interest @9% p.a. (Simple) from the date of filing of the Original Application i.e.11.07.2022 till full realization of the amount mentioned in this operative order.

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(ii)- Out of Rs.63,67,529/-, Defendant shall pay an amount of Rs.19,56,943 /- (Rupees Nineteen Lakhs Fifty-Six Thousand Nine Hundred Fourty Three only) towards KCC Account with future interest @9% p.a. (Simple) from the date of filing of the Original Application i.e.11.07.2022 till full realization of the amount mentioned in this operative order.

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(C) The above said amount is secured by keeping charge on the following immovable properties i.e. - All that piece and parcel of agriculture land bearing Gat No.208 and Gat No.212 totally admeasuring 03H 73Aar at village Solashi, Taluka Koregaon, within the limits of Registration District Satara, Sub Registration District Koregaon, District – Satara, more particularly described in Para No. 5.7 of the Original Application.

(OA No.188/2023)

Page 5 of 6

[ANIL]

(D) The Applicant Bank is entitled to sell the abovementioned charged immovable properties to recover its dues.

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(E) Issue Recovery Certificate. (F) The Registrar is directed to send the copy of Judgment and Recovery Certificate to the applicant Bank and defendants.

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

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Place : Pune Date : 02.02.2026

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(OA No.188/2023)

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Page 6 of 6

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[ANIL]

State Bank of India v. Dhananjay Solaskar

Case brief

What is this about?

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State Bank of India v. Dhananjay Solaskar

Case brief

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