Allowed

State Bank of India v. M/S Mahakali Trading Company through Its PR0PRIETOR Shri Ashish Rambhau Kunghatkar

DRT17 Apr 2026OA/407/2023

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed the bank's recovery application ex parte against non-appearing defendants. The court disallowed penal interest but ordered payment of principal and future interest, along with declarations on secured properties and issuance of a Recovery Certificate.

What did the court decide?

Defendants ordered to pay principal amounts of Rs. 29,33,689.29 and Rs. 2,71,964 along with future interest; Recovery Certificate issued.

State Bank of India versus M/S Mahakali Trading Company… — Banking and Recovery | DRT (2026)

¶1

Page 1 of 4 O.A. No. 407/2023

¶2

PRESENTED ON : 21.04.2023 REGISTERED ON : 28.06.2023

¶3

Exh. No. 13

¶4

BEFORE THE PO, DEBTS RECOVERY TRIBUNAL, NAGPUR

¶5

Delivered by Pankaj Kumar O.A. No. 407/2023

¶6

State Bank of India

¶7

: Applicant

¶8

a Bank constituted under the State Bank of India Act, 1955 having one of its Branch at Stressed Assets Recovery Branch, 5, Sai Complex, 3rd Floor, Above Industrial Finance Branch, Bharat Nagar, Amravati Road,

¶9

Nagpur-440 010.

¶10

Phone No. 0712-2567934, 2567345 IFS Code: SBIN0010152 acting through its Chief Manager i.e. Mrs. Sujata Chauthaiwale Mobile No. 9420179170 e-mail: sbi. [email protected]

¶11

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

¶12

Versus

¶13

1. M/s Mahakali Trading Company, : Defendants

¶14

through its proprietor Shri Ashish Rambhau

¶15

Kunghatkar, Aged about 29 years; Occ: Business,

¶16

R/o Near Gram Panchayat, Navi Vasti, At Datala,

¶17

Post Ramnagar, Dist. Chandrapur - 442401

¶18

PAN: CBUPK8312C

¶19

Also at:

¶20

Plot No. 01, Behind Hanuman Mandir, Datala New, Chandrapur - 442 401

¶21

2. Shri Ashish Rambhau Kunghatkar,

¶22

Page 2 of 4 O.A. No. 407/2023

¶23

Aged about 29 years; Occ: Business, R/o Near Gram Panchayat, Navi Vasti, At Datala, Post Ramnagar, Dist. Chandrapur - 442 401

¶24

PAN: CBUPK8312C

¶25

Also at:

¶26

Plot No. 01, Behind Hanuman Mandir,

¶27

Datala New, Chandrapur - 442 401

¶28

Learned Counsels for Applicant	Adv. S.N.Kumar
	Adv. P.P.Joshi
Defendants Set Exparte On	19.11.2024

¶29

JUDGMENT (Delivered on 17^th Day of April, 2026)

¶30

This is an application filed by the applicant U/s 19 of RDB Act, 1993 against defendants for recovery of aggregate amount of Rs. 32,09,285/- with costs and future interest with monthly rests from date of filing Of O.A. till its realization as under :-

¶31

A. An amount of Rs. 29,37,321/- outstanding in Cash Credit Loan Account No. 37177089086 with costs and future interest @17.25% p.a. with monthly rests from the date of filing of O.A. till the date of realization.

¶32

B. An amount of Rs. 2,71,964/- outstanding in GECL Loan Account No. 39372803449 with costs and future interest @7.80% p.a. with monthly rests from the date of filing of O.A. till the date of realization.

¶33

Though, defendants were duly served with the suit summons vide Exh. 9 & 10, they failed to cause appearance before this Tribunal to defend their case despite granting several adjournments. Hence , the

¶34

Page 3 of 4 O.A. No. 407/2023

¶35

proceeding against defendant nos. 1 & 2 was set exparte on 19.11.2024.

¶36

The applicant has filed its Claim Affidavit (Exh. 11) alongwith List of Documents (Exh. 12), annexing therewith 20 documents. The original documents therein are marked as Exh. AW-1/1 to AW-1/19. The applicant has stated in the O.A. as well as in claim affidavit that penal interest of Rs. 3,631.71 has been charged in the Cash Credit Loan Account No. 37177089086; whereas no penal interest has been charged in the GECL Loan Account No. 39372803449.

¶37

Heard Learned counsel for the applicant.

¶38

As stated supra, defendants remained exparte. The Evidence Affidavit coupled with the recitals in the documents viz. Exh. AW -1/1 to AW-1/19 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. 3,631.71 charged in the Cash Credit Loan Account No. 37177089086.

¶39

Hence, it is ordered as under:-

¶40

ORDER

¶41

A] O.A. No. 407/2023 is allowed to the extent as under with costs.

¶42

B] Defendants to pay jointly and severally to the applicant bank an amount of Rs. 29,33,689.29 (Rupees Twenty Nine Lakh Thirty Three

¶43

Page 4 of 4 O.A. No. 407/2023

¶44

Thousand Six Hundred Eighty Nine and Paise Twenty Nine Only) outstanding in Cash Credit Loan Account No. 37177089086 with simple future interest @9% p.a. from the date of filing of O.A. till its realization.

¶45

C] Defendants to pay jointly and severally to the applicant bank an amount of Rs. 2,71,964/- (Rupees Two Lakh Seventy One Thousand Nine Hundred Sixty Four Only) outstanding in GECL Loan Account No. 39372803449 with simple future interest @7.80% p.a. from the date of filing of O.A. till its realization.

¶46

D] 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-1/12, Exh. AW-1/14, Exh. AW-1/16.

¶47

E] It is also declared that charge of the outstanding dues is kept on hypothecated goods of defendant no. 1 referred in Schedule-II annexed to the O.A. and as referred in Exh. AW-1/2, Exh. AW-1/4, Exh. AW-1/6, Exh. AW-1/8, Exh. AW-1/10.

¶48

F] Issue Recovery Certificate accordingly.

¶49

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

¶50

Nagpur

¶51

Date: 17.04.2026

¶52

(Pankaj Kumar) Presiding Officer Debts Recovery Tribunal Nagpur

State Bank of India v. M/S Mahakali Trading Company through Its PR0PRIETOR Shri Ashish Rambhau Kunghatkar

Case brief

What is this about?

What did the court decide?

State Bank of India v. M/S Mahakali Trading Company through Its PR0PRIETOR Shri Ashish Rambhau Kunghatkar

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

Hdfc Bank versus Milkha Singh

Jammu and Kashmir Bank Limited versus Mohd. Arif Khan

Punjab National Bank versus Mr. Satinder Singh

Smt Anniyamma versus Karnataka Bank Limited

Canara Bank versus Chandrappa

Canara Bank versus Sathish