Allowed

State Bank of India v. Mr. Youraj Ashok Taksal

DRT6 Jan 2026OA/381/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the applicant bank's original application for recovery of Rs. 23,26,372.31/- and future interest @ 8% p.a., directing the respondent to pay the amount secured by the mortgage of his immovable property.

What did the court decide?

Defendant to pay Rs. 23,26,372.31/- with future interest @ 8% p.a.; secured by sale of mortgaged property; Recovery Certificate issued.

State Bank of India versus Mr. Youraj Ashok Taksal — Contract and Commercial Disputes | DRT (2026)

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Presented on: 27.12.2023 Registered on: 29.05.2024 Decided on: 06.01.2026 Duration: Y M D 02 00 09

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IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 381/2024

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TOTAL CLAIM AMOUNT – Rs. 23,26,372.31/-

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State Bank of India,

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A body corporate constituted under the provisions of the State Bank of India Act, 1955 (23 of 1955) having it’s one of Local Head office at Synergy, Bandra-Kurla Complex, Bandra E, Mumbai, & Branches amongst the other places at RACC, Beed & having Stressed Assets Recovery Branch (SARB) at Plot No. 79, N-5, CIDCO Aurangabad – 431003, through its Authorized officer, Mr. Nitin Narayan Kamble (Manager & CCO), Age: 42 yrs., Occ.: Service, R/o. CIDCO, Aurangabad.

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Versus

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… Applicant

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Mr. Youraj Ashok Taksal Age: Major, Occ.: Service, R/o.: At Post Patharwala Khurd, Ankush Nagar, Near Hanuman Mandir, Tq. Ambad, Dist. Jalna 431212. AND/OR

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Mr. Youraj Ashok Taksal Age: Major, Occ.: Service, R/o.: At Wakde Niwas, House No. 23

(OA No.381/2024)

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[AMBADAS]

Court Road, Near Sahyadri Coaching Classes, Ambad, Tq. Ambad, Dist. Jalna 431204.

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…Defendant.

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APPEARANCES

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For the Applicant Mr. K.D. Pande -Advocate For Defendant Ex-parte

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JUDGMENT

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Delivered on 06.01.2026

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The Applicant Bank has filed the present application for the recovery of a sum of Rs. 23,26,372.31/- (Rupees Twenty Three Lacs, Twenty Six Thousand, Three Hundred Seventy Two and Thirty One Paisa only), along with further interest from the date of filing of the Original Application, i.e., 27.12.2023, 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 Housing loan. Upon considering the request and financial needs of the Defendant, the Applicant Bank sanctioned Home loan of Rs. 18,00,000/- vide

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arrangement letter dated 15.03.2019 on certain terms and

(OA No.381/2024)

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[AMBADAS]

conditions. The agreed rate of interest for aforesaid loan facility

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was @ 8.85% per annum with monthly rests. The Defendant also

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agreed to pay additional interest @2% by way of liquidated

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damages in the event of any default in repayment.

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That, thereafter the defendant approached to the applicant bank for sanctioning of a personal loan facility and upon considering the application of defendant, the applicant bank sanctioned a personal loan of Rs. 5,35,000/- vide its arrangement letter dated 21.01.2020 on certain terms and conditions. The agreed rate of interest for aforesaid loan facility was @ 13.50% per annum with monthly rests. The Defendant also 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 facilities, the Defendant executed various loan documents in favour of the Applicant Bank. These included arrangement letter, personal loan agreement,

(OA No.381/2024)

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[AMBADAS]

letter of undertaking, registered mortgage deed bearing daybook

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no. 842 dated 21.02.2019 and housing loan agreement etc.

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The Applicant Bank further contends that, in order to secure the aforesaid loan facility, the Defendant created first charge over his immovable property by executing registered mortgage deed bearing daybook no. 842 dated 21.02.2019 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 Gram Panchayat House no. 305, admeasuring 303 sq. mtrs., situated at Village Patharwala Khurd, Tq. Ambad Dist. Jalna, which is bounded as under:

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East: Gram Panchayat Road, West: Land of Pushpa Harshe, South: Land of Panditrao Harshe North: Land of Vitthal Mache.

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The applicant bank contended that the defendant has failed to 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

(OA No.381/2024)

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[AMBADAS]

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 28.06.2023. Therefore, on 04.03.2023 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 27.01.2025.

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The applicant Bank has filed Claim Affidavit of evidence at Exhibit-4 of Mr. Nitin Narayan Kamble, Manager & CCO of the 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.

(OA No.381/2024)

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[AMBADAS]

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 @ 8.65% & @13.50% p.a. from the date of filing i.e. 27.12.2023 of this application till realization of the claim amount. However, considering the facts of the case, I am of the opinion that if future interest is granted @ 8% per annum (simple) on outstanding amount, it would be just and reasonable rate of interest.

(OA No.381/2024)

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[AMBADAS]

ORDER

(A) Original Application No. 381/2024 is allowed with costs.

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(B) The defendant shall pay to the applicant Bank a sum of Rs. 23,26,372.31/- (Rupees Twenty Three Lacs, Twenty Six Thousand, Three Hundred Seventy Two and Thirty One Paisa only), along with future interest @ 8% per annum (simple), from the date of filing of the Original Application i.e. 27.12.2023 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-7 in list of documents Exh. 5.

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All that piece and parcel of Gram Panchayat House no. 305, admeasuring 303 sq. mtrs., situated at Village Patharwala Khurd, Tq. Ambad Dist. Jalna, which is bounded as under:

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East: Gram Panchayat Road, West: Land of Pushpa Harshe, South: Land of Panditrao Harshe North: Land of Vitthal Mache.

(OA No.381/2024)

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[AMBADAS]

(D) The applicant Bank is entitled to sell the mortgaged 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:.06.01.2026 Debts Recovery Tribunal, Aurangabad

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(OA No.381/2024)

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Page 8 of 8

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[AMBADAS]

State Bank of India v. Mr. Youraj Ashok Taksal

Case brief

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State Bank of India v. Mr. Youraj Ashok Taksal

Case brief

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