Allowed

State Bank of India v. Ms Priti Industries through Its Proprietor Ms. Priti Shuddhodhan Ingle

DRT12 Feb 2026OA/367/2023

Case brief

AI extract

What is this about?

The Tribunal allowed an application by State Bank of India for recovery of dues from M/s Priti Industries and Ms. Priti Shuddhodhan Ingle. The petition was set ex parte due to non-appearance of respondents. The court directed payment of principal amounts and simple future interest, excluding penal interest claimed.

What did the court decide?

Respondents directed to pay principal amounts of Rs. 15,24,127/-, Rs. 1,83,791/-, Rs. 23,086/- and Rs. 4,14,207/- with simple future interest. Recovery certificate issued.

State Bank of India versus Ms Priti Industries through Its… — Execution and Attachment | DRT (2026)

¶1

Page 1 of 5 O.A. No. 367/2023

¶2

PRESENTED ON : 31.03.2023 REGISTERED ON : 26.06.2023

¶3

Exh. No. 13

¶4

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

¶5

O.A. No. 367/2023

¶6

State Bank of India

¶7

: Applicant

¶8

A bank constituted under the State Bank of India Act, 1955 having one of its Branch, Akola Main Branch, Jawaharlal Nehru Marg, Near Tower Chowk,

¶9

Akola - 444 001

¶10

IFS Code: SBIN0000306

¶11

email: [email protected]

¶12

acting through its Deputy Manager i.e. Nikunj Kumar

¶13

Mobile No. 9953437947

¶14

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

¶15

Versus

¶16

1. M/s Priti Industries,

¶17

: Defendants

¶18

through its proprietor Ms. Priti Shuddhodhan Ingle,

¶19

Aged about 44 years; Occ: Business,

¶20

R/o Plot No. 13, Gat No. 158, Washimba, Tah. and

¶21

Dist. Akola - 444 001

¶22

PAN: ABLPI6899K

¶23

Also at:

¶24

Yevata Road, Tathod Layout,

¶25

Malkapur, Akola - 444 001

¶26

2. Ms. Priti Shuddhodhan Ingle,

¶27

Aged about 44 years; Occ: Business,

¶28

R/o Plot No. 13, Gat No. 158, Washimba, Tah, and

¶29

Dist. Akola - 444 001

¶30

PAN: ABLPI6899K Also at:

¶31

Page 2 of 5 O.A. No. 367/2023

¶32

Yevata Road, Tathod Layout, Malkapur, Akola - 444

¶33

001

¶34

Learned Counsels for Applicant	Adv. S.N. Kumar
	Adv. P.P. Joshi
Defendants Set Exparte On	04.01.2024

¶35

JUDGMENT (Delivered on 12^th Day of February, 2026)

¶36

This is an application filed by the applicant U/s 19 of RDB Act, 1993 against defendants for recovery of aggregate amount of Rs. 21,49,298/- with costs and future interest with monthly rests from the date of filing of O.A. till the date of realization as under:-

¶37

A. An amount of Rs. 15,24,127/- outstanding in Term Loan Account No. 38069827021 with costs and future interest @12.40% p.a. with monthly rests from the date of filing of O.A. till the date of realization.

¶38

B. An amount of Rs. 1,87,878/- outstanding in Cash Credit Loan Account No. 38070886583 with costs and future interest @13.40% p.a. with monthly rests from the date of filing of O.A. till the date of realization.

¶39

C. An amount of Rs. 23,086/- outstanding in FITL Loan Account No. 40257949491 with costs and future interest @8.30% p.a. with monthly rests from the date of filing of O.A. till the date of realization.

¶40

D. An amount of Rs. 4,14,207/- outstanding in GECL Loan Account No. 39475811034 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.

¶41

Page 3 of 5 O.A. No. 367/2023

¶42

Though, defendant nos. 1 & 2 were duly served with the suit summons vide Exh. 8,9 & 10, they failed to cause appearance before this Tribunal to defend their case despite granting several adjournments. Hence, the proceeding against defendant nos. 1 & 2 was set exparte on 04.01.2024.

¶43

The applicant has filed its Claim Affidavit (Exh. 11) alongwith List of Documents (Exh. 12), annexing therewith 13 documents. The original documents therein are marked as Exh. AW-1/1 to AW-1/12. The applicant has stated in the O.A. as well as in claim affidavit that the penal interest of Rs. 4,087/- has been charged in the Cash Credit Loan Account No. 38070886583 & no penal interest has been charged in the Term Loan, FITL Loan & GECL Loan Accounts.

¶44

Heard Learned counsel for the applicant.

¶45

As stated supra, defendants remained exparte. The Evidence Affidavit coupled with the recitals in the documents viz. Exh. AW -1/1 to AW-1/12 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 to the penal interest of Rs. 4,087/- which has been charged in the Cash Credit Loan Account No. 38070886583.

¶46

Hence, it is ordered as under:-

¶47

ORDER

¶48

A] O.A. No. 367/2023 is allowed to the extent as under with costs.

¶49

Page 4 of 5 O.A. No. 367/2023

¶50

B] Defendants to pay jointly and severally to the applicant bank an amount of 15,24,127/- (Rupees Fifteen Lakh Twenty Four Thousand One Hundred Twenty Seven Only) outstanding in Term Loan Account No. 38069827021 with simple future interest @9% p.a. from the date of filing of O.A. till its realization.

¶51

C] Defendants to pay jointly and severally to the applicant bank an amount of Rs. 1,83,791/(Rupees One Lakh Eighty Three Thousand Seven Hundred Ninety One Only) outstanding in Cash Credit Loan Account No. 38070886583 with simple future interest @9% p.a. from the date of filing of O.A. till its realization.

¶52

D] Defendants to pay jointly and severally to the applicant bank an amount of Rs. 23,086/- (Rupees Twenty three Thousand and Eighty Six Only) outstanding in FITL Loan Account No. 40257949491 with simple future interest @8.30% p.a. from the date of filing of O.A. till its realization.

¶53

E] Defendants to pay jointly and severally to the applicant bank an amount of Rs. 4,14,207/- (Rupees Four Lakh Fourteen Thousand Two Hundred Seven Only) outstanding in GECL Loan Account No. 39475811034 with simple future interest @9% p.a. from the date of filing of O.A. till its realization.

¶54

F] It is declared that outstanding dues are secured by mortgaged immovable properties of defendant no. 2 as described in Schedule-I in O.A and as referred in Exh. AW-1/6 & Exh. AW-1/8.

¶55

Page 5 of 5 O.A. No. 367/2023

¶56

G] It is also declared that charge of the outstanding dues is kept on hypothecated goods of defendant no. 1 referred in Schedule-II

¶57

annexed to the O.A. and as referred in Exh. AW-1/2.

¶58

H] Issue Recovery Certificate accordingly.

¶59

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

¶60

Nagpur

¶61

Date: 12.02.2026

¶62

(Pankaj Kumar) Presiding Officer Debts Recovery Tribunal Nagpur

State Bank of India v. Ms Priti Industries through Its Proprietor Ms. Priti Shuddhodhan Ingle

Case brief

What is this about?

What did the court decide?

State Bank of India v. Ms Priti Industries through Its Proprietor Ms. Priti Shuddhodhan Ingle

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

Similar cases

Central Bank of India versus M/S Santosh Box Industries

Hdfc Bank versus Sh. Surender Singh

Punjab National Bank (Oriental Bank of Commerce) versus Sh. Gurpreet Chatha

Punjab National Bank versus Ajmer Pal Singh

Canara Bank versus Sh. Dalbir Singh

Punjab Gramin Bank versus Sh. Pargat Singh