Allowed

State Bank of India v. M/S Technical Trade Links a Proprietary Concern through Its Proprietor Shri Surendra Pannalal Dara

DRT23 Jan 2026OA/233/2023

Case brief

AI extract

What is this about?

The PO, DRAT Nagpur allowed the money recovery application filed by State Bank of India against the respondents. The tribunal decreed recovery of outstanding loan principal amounts with future interest at reduced statutory rates, excluding the penal interest claimed.

What did the court decide?

Recovery of principal amounts of approximately Rs. 1.36 Crore with future interest at specified rates and issuance of Recovery Certificate.

State Bank of India versus M/S Technical Trade Links a… — Company and Corporate | DRT (2026)

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Page 1 of 6 O.A. No. 233/2023

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PRESENTED ON : 25.01.2023 REGISTERED ON : 31.03.2023

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Exh. No. 20

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BEFORE THE PO, DEBTS RECOVERY TRIBUNAL, NAGPUR Delivered by Pankaj Kumar

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O.A. No. 233/2023

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State Bank of India

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: Applicant

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A Bank Constituted under The State Bank of India Act, 1955, having one of its Branch SME Branch, Ravinagar, Nagpur – 440 033 IFS Code: SBIN0012957

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Acting through its Chief Manager i.e. Shri Hemant Kumar Verma,

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Phone No. 9930879255 email: [email protected] having authority to file the present Original Application which includes the authority to verify & sign the Original Application.

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Versus

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1. M/s. Technical Trade Links

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: Defendants

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A proprietary concern through its proprietor Shri. Surendra Pannalal Dara, C/o Kamiya Technics 6/A, Brij Bhavan, Anandilal Podar Marg, 1^st Marine Street, Opposite Metro *Adlabs, Dhobi Talav, Mumbai – 400 002

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PAN: AAVPD7593C

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Also at: B-201, Swami Sadan-II

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Chitnavis Layout, Near Poonam Chambers,

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Page 2 of 6 O.A. No. 233/2023

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Near Aakar Builder, Bairamji Town,

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Nagpur - 440013

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2. Shri. Surendra Pannalal Dara ,

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Aged about: 58 Years, Occ. Business, C/o Kamiya Technics 6/A, Brij Bhavan, Anandilal Podar Marg, 1st Marine Street, Opposite Metro *Adlabs, Dhobi Talav, Mumbai – 400 002

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PAN: AAVPD7593C

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Also at:

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B-201, Swami Sadan-II Chitnavis Layout, Near Poonam Chambers, Near Aakar Builder, Near Bairamji Town, Nagpur - 440013

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3. Mrs. Kamiya W/o Surendra Dara ,

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Aged about: 53 Years, Occ. Business,

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C/o Kamiya Technics 6/A, Brij Bhavan, Anandilal Podar Marg, 1st Marine Street, Opposite Metro *Adlabs, Dhobi Talav, Mumbai – 400 002

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PAN: ABHPD8156G

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Also at:

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B-201, Swami Sadan-II Chitnavis Layout, Near Poonam Chambers, Near Aakar Builder, Near Bairamji Town, Nagpur - 440013

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Learned Counsel for Applicant	Adv. S.N.Kumar
Defendants Set Exparte On	04.01.2024

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Page 3 of 6 O.A. No. 233/2023

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JUDGMENT

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(Delivered on 23^rd Day of January, 2026)

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This is an application filed by the applicant U/s 19 of RDB Act, 1993 against defendants for recovery of aggregate amount of Rs. 1,36,41,311/- with monthly rests from the date of filing of O.A. till the date of realization as under :

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A. An amount of Rs. 87,85,319/- outstanding in Cash Credit Loan Account No. 11072759575 with costs and future interest @12.65% p.a. with monthly rests from the date of filing of O.A. till the date of realization.

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B. An amount of Rs. 22,49,145/- outstanding in GECL (Extn.) Loan Account No. 40608341580 with costs and future interest @9.25% p.a. with monthly rests from the date of filing of O.A. till the date of realization.

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C. An amount of Rs. 12,61,143/- outstanding in GECL Loan Account No. 39429732247 with costs and future interest @9.25% p.a. with monthly rests from the date of filing of O.A. till the date of realization.

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D. An amount of Rs. 12,64,146/- outstanding in Home Loan Account No. 34344112746 with costs and future interest @7.85% p.a. with monthly rests from the date of filing of O.A. till the date of realization.

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E. An amount of Rs. 81,558/- outstanding in SBI Suraksha Loan Account No. 34348164745 with costs and future interest @7.85% p.a.

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Page 4 of 6 O.A. No. 233/2023

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with monthly rests from the date of filing of O.A. till the date of realization.

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Though, defendant nos. 1 to 3 were duly served with the suit summons vide Exh. 8 to 13, they failed to cause appearance before this Tribunal to defend their case despite granting several adjournments. Hence, the proceeding against defendant nos. 1 to 3 was set exparte on 04.01.2024.

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The applicant has filed its Claim Affidavit (Exh. 18) alongwith List of Documents (Exh. 19), annexing therewith 55 documents. The original documents therein are marked as Exh. AW-1/1 to AW-1/54. It has been stated in the O.A. as well as in Claim Affidavit that no penal interest has been applied in the GECL Accounts, Home Loan and SBI Suraksha Loan accounts while penal interest of Rs. 2,494/- has been charged in the Cash Credit Loan Account No. 11072759575.

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Heard Learned counsel for the applicant.

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As stated supra, defendants remained exparte. The Evidence Affidavit coupled with the recitals in the documents viz. Exh. AW -1/1 to AW-1/54 marked 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 the applicant with costs and future interest. However. I am not inclined to allow the penal interest of Rs. 2,494/- that has been charged in the Cash Credit Loan Account No. 11072759575.

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Page 5 of 6 O.A. No. 233/2023

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Hence, it is ordered as under:-

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ORDER

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A] O.A. No. 233/2023 is allowed to the extent as under with costs.

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B] Defendants to pay jointly and severally to the applicant bank an amount of Rs. 87,82,825/- (Rupees Eighty Seven Lakh Eighty Two Thousand Eight Hundred Twenty Five Only) outstanding in Cash Credit Loan Account No. 11072759575 with costs and future interest @9% p.a. from the date of filing of O.A. till the date of realization.

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C] Defendants to pay jointly and severally to the applicant bank an amount of Rs. 22,49,145/- (Rupees Twenty Two Lakhs Forty Nine Thousand One Hundred Forty Five Only) outstanding in GECL (Extn.) Loan Account No. 40608341580 with costs and future interest @9% p.a. from the date of filing of O.A. till the date of realization.

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D] Defendants to pay jointly and severally to the applicant bank an amount of Rs. 12,61,143/- (Rupees Twelve Lakhs Sixty One Thousand One Hundred Forty Three Only) outstanding in GECL Loan Account No. 39429732247 with costs and future interest @9% p.a. from the date of filing of O.A. till the date of realization.

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E] Defendants to pay jointly and severally to the applicant bank an amount of Rs. 12,64,146/- (Rupees Twelve Lakhs Sixty Four Thousand One Hundred Forty Six Only) outstanding in GECL Extension Loan Account No. 34344112746 with costs and future interest @7.85% p.a. from the date of filing of O.A. till the date of realization .

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Page 6 of 6 O.A. No. 233/2023

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F] Defendants to pay jointly and severally to the applicant bank an amount of Rs. 81,558/- (Rupees Eighty One Thousand Five Hundred Fifty Eight Only) outstanding in SBI Suraksha Loan Account No. 34348164745 with costs and future interest @7.85% p.a. from the date of filing of O.A. till the date of realization .

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G] It is declared that outstanding dues are secured by mortgaged immovable property of defendant no. 2 as described in Schedule-I and defendant no. 3 as described in Schedule- II annexed to O.A. and as referred in Exh. AW-1/33, Exh. AW-1/35 to Exh. AW-1/38 & Exh. AW1/51.

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H] It is also declared that charge of outstanding dues is kept on hypothecated property of defendant no.1 as described in Schedule-III annexed to O.A. and as referred in Exh. AW-1/3, Exh. AW-1/7, Exh. AW-1/11, Exh. AW-1/15, Exh. AW-1/18 & Exh. AW-1/21, Exh. AW-1/24 & Exh. AW-1/29.

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I] Issue Recovery Certificate accordingly.

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J] The Registrar is directed to send the copy of Judgment and Recovery Certificate to the parties to this O.A at once.

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Nagpur

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Date: 23.01.2026

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(Pankaj Kumar) Presiding Officer Debts Recovery Tribunal Nagpur

State Bank of India v. M/S Technical Trade Links a Proprietary Concern through Its Proprietor Shri Surendra Pannalal Dara

Case brief

What is this about?

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State Bank of India v. M/S Technical Trade Links a Proprietary Concern through Its Proprietor Shri Surendra Pannalal Dara

Case brief

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What did the court decide?

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