Allowed

State Bank of India v. Mr. Gopal Lala Rathod

DRT25 Mar 2026OA/388/2024

Case brief

AI extract

What is this about?

In this unopposed application, the Debts Recovery Tribunal allowed the State Bank of India's claim for recovery of a defaulted personal loan of Rs. 26,29,060.84 from the defendant. The court held the claim based on unrebutted documentary evidence and authorized recovery from the defendant's salary and employment benefits.

What did the court decide?

Recovery of Rs. 26,29,060.84 plus future interest at 9% p.a. (simple) from 06.01.2024; secured by charge on salary and employment benefits.

State Bank of India versus Mr. Gopal Lala Rathod — Contract and Commercial Disputes | DRT (2026)

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Presented on: 06.01.2024 Registered on: 04.06.2024 Decided on: 25.03.2026 Duration: Y M D 02 02 19

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IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 388/2024

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TOTAL CLAIM AMOUNT – Rs. 26,29,060.84/-

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STATE BANK OF INDIA, [A body corporate constituted under the State Bank of India Act, 1955] [Head Office at Nariman Point, Madam Kama Road, Mumbai-400021, and having its Branch office at Stressed Assets Recovery Branch, at Plot No. 1 SBI Zone 2, Town Center, CIDCO, Aurangabad (MH) THROUGH ITS CITY CASE OFFICER, Mr. Abhay Boradkar, Age: 51 Years, Occ.: Service as City Case Officer, at Stressed Assets Recovery Branch at Plot No. 1 SBI Zone 2, Town Center, CIDCO, Aurangabad (MH).

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… Applicant

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Versus

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Mr. Gopal Lala Rathod, At Jamga (Tanda) Post Talkhed Tal. Majalgaon, Dist. Beed 431131. AND

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Bapu Nagar, Taroda Bk., Malhar Chowk Taroda Bk., Nanded 431605.

…Defendant.

(OA No.388/2024)

Page 1 of 7

[AMBADAS]

APPEARANCES

For the Applicant For Defendant

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Mr. Sachin S. Katariya -Advocate Ex-parte

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JUDGMENT

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Delivered on 25.03.2026

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The Applicant Bank has filed the present application for the

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recovery of a sum of Rs. 26,29,060.84/- (Rupees Twenty Six Lacs, Twenty Nine Thousand, Sixty and Eighty Four Paisa only), along with further interest from the date of filing of the Original Application, i.e., 06.01.2024, 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 Personal Loan Facility. Upon considering the request and financial needs of the Defendant, the Applicant Bank sanctioned Personal Loan Facility of Rs. 10,00,000/- vide sanction letter dated 18.08.2022 on certain terms and conditions. The agreed rate of interest for

(OA No.388/2024)

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[AMBADAS]

aforesaid loan facility was @ 12.30% per annum with monthly

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rests. The Defendant also agreed to pay additional interest @2%

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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 favour of the Applicant Bank, including the arrangement letter, personal loan agreement, etc., in favor of the Applicant Bank.

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The Applicant Bank further contends that, in order to secure the aforesaid loan facility, the Defendant executed personal loan agreement, in favour of the Bank. By virtue of the said instructions, the Bank is authorized to collect and receive any amounts payable towards the Defendant’s provident fund, gratuity, pension, or any other similar dues.

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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

(OA No.388/2024)

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[AMBADAS]

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 29.05.2023. Therefore, on 22.12.2023 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 duly served. Hence, the defendant was proceeded ex-parte as per Order dated 12.02.2025.

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The applicant Bank has filed Claim Affidavit of evidence at Exhibit-4 of Abhay Boradkar, Manager of the applicant Bank, and has produced on record the original loan transaction documents as Annexure. A-1 to A-7 along with list of documents Exh.5 which corroborates the case of the applicant Bank.

(OA No.388/2024)

Page 4 of 7

[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 the Defendant’s salary and other employment-related benefits.

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The applicant Bank has claimed future interest at @12.30% with monthly rests from the date of filing i.e. 06.01.2024 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 @ 9% per annum (simple), it would be just and reasonable rate of interest.

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ORDER

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(A) Original Application No. 388/2024 is allowed with costs.

(OA No.388/2024)

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[AMBADAS]

(B) The defendant shall pay to the applicant Bank a sum of

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Rs. 26,29,060.84/- (Rupees Twenty Six Lacs, Twenty Nine Thousand, Sixty and Eighty Four Paisa only), along with future interest @ 9% per annum (simple) from the date of filing of the Original Application i.e. 06.01.2024 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 Personal Loan Agreement, under which the Applicant Bank is authorized to recover its dues from the Defendant’s salary and other employment-related benefits at Annexure A-3 in list of documents Exh. 5.

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(D) The applicant Bank is entitled to recover its dues as per Annexure A-3 of the list of document Exh. 5.

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(E)

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(E) Issue Recovery Certificate accordingly.

(OA No.388/2024)

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[AMBADAS]

(F) The Registrar is directed to send the copy of the

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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. Place: Aurangabad Date:.25.03.2026

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(Dr. J. R. Chauhan) Presiding Officer Debts Recovery Tribunal, Aurangabad

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(OA No.388/2024)

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Page 7 of 7

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[AMBADAS]

State Bank of India v. Mr. Gopal Lala Rathod

Case brief

What is this about?

What did the court decide?

State Bank of India v. Mr. Gopal Lala Rathod

Case brief

What is this about?

What did the court decide?

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