OA/469/2026 STATE BANK OF INDIA VS SH. SATWINDER SINGH 6. The defendant was served summon to appear before this Tribunal but no one appeared on behalf of defendant and he was proceeded ex parte vide order dated 07.05.2026. 7. In support of the OA, affidavit of Sh. Khushwant Singh, Chief Manager, State Bank of India, has been filed. 8. Heard ex-parte arguments and perused record. 9. It was argued by learned counsel that in view of the documentary evidence brought on record which had gone unrebutted, the applicant bank had proved its case. From the perusal of all the Annexures A1 to A13 to this OA, it is proved that the defendant approached applicant for availing of the loan facility, which was granted to him and for that he had executed all the relevant documents in favour of the bank. The defendant failed to pay back the loan as per terms and conditions of the agreement between the parties. Subsequently, account of the defendant was classified as NPA. From the documentary evidence brought on record, it is proved that applicant bank is entitled to recover a sum of Rs.23,09,266.00 (Rupees Twenty Three Lacs Nine Thousand Two Hundred Sixty Six Only) along with interest from the defendant, from the date of filing of the present Original Application till realization of the amount. 10. In so far as pendente lite and future rate of interest is concerned, the applicant in relief clause has claimed interest @12.25%p.a. along with 2% penal interest from 10.03.2026 till the realization. The Tribunal is of the considered opinion that sometimes in appropriate cases the prerogative of mercy is the brightest jewel in the crown of the Judge. Keeping in view the facts and circumstances of the instant case including nature of the hypothecated asset, undertaking of the defendant, quantum of loan and prevalent market rates of interest which have gone drastically downhill in yester years, while exercising the discretion vested in this Tribunal, this Tribunal deems it just and appropriate to grant simple interest @8.00%p.a. in the loan account
