Debts Recovery Tribunal allowed an application by a bank to recover dues from a defaulting loan defaulter. The court dismissed the respondent's case ex-parte and awarded the principal sum with future interest at 9% p.a.
Recovery of Rs. 44,16,774 from the respondent along with future interest at 9% per annum simple.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
Presented on: 04.07.2025 Registered on: 13.08.2025 Decided on: 19.08.2026 Duration: Y M D 01 01 15
IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Shri Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 483/2025
TOTAL CLAIM AMOUNT – Rs. 44,16,774/-
Central Bank of India, Bidkin Branch,
Banking Company incorporated under the Banking Companies (Acquisition & Transfer of Undertaking) Act, 1970 having its Corporate Office at Chander Mukhi, Nariman Point, Mumbai- 400021, and one of its Branch at Gut No. 8, Plot No.1, Savatanagar, Bidkin, Aurangabad, Maharashtra- 431005, through its Chief Manager and Power of Attorney Holder Mr. Chandan Kumar.
… Applicant
Versus
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M/s. Sai Yog Agency,
… Defendant
Through Mrs. Urmila Subhash Thorat,
MSME Reg./GST No. 27AJYPT2303A1Z7, R/o: Plot No.P 114/27, Behind
Jagrut, Hanuman Mandir, Bajaj Nagar, Waluj, Aurangabad- 431133. And also;
R/o: House No. 4-13-38, Old Baijipura, Jinsi Police Station Rd, Khas Gate, Aurangabad- 431001.
APPEARANCES
For the Applicant Mr. Panchal Balaji A. - Advocate For Defendant Ex-parte
J U D G M E N T Delivered on (19.08.2026)
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of Cash Credit Loan from 14.05.2025 till the full realization of the entire dues and costs from the Defendant.
Brief facts of the application are as under:
The agreed rate of interest for the Cash Credit Loan was @9.60% p.a. with monthly rests.
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Hypothecation to secure demand credit against good and Letter of Hypothecation of Statement of Bank Debts dated 23.03.2023, in favour of the Applicant Bank.
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However, considering the facts of the case, I am of the opinion that awarding future interest at @9% per annum (simple) on outstanding amount, it would be just and reasonable.
Hence, I pass the following order.
ORDER
(B) The Defendant shall pay to the Applicant Bank a sum of Rs. 44,16,774/(Rs. Forty-Four Lakhs, Sixteen Thousand, Seven Hundred and Seventy-Four Only) along-with future interest at @9% per annum (simple) from the date of filing of the Original Application, i.e., 04.07.2025, till full payment/ realization of the said amount.
(C)
(C) The aforesaid adjudicated amount is secured by hypothecated asset in favour of the Applicant Bank vide document Exh. AW-1/18 in list of Documents Exh.5.
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assets/ articles/goods etc., to recover its dues.
(G) File be consigned to the record room.
Sd/-
(Dr. J. R. Chauhan) Place : Aurangabad Presiding Officer Date : 19.08.2026 Debts Recovery Tribunal, Aurangabad
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2 issues framed by the court
Whether the application for realization of cash credit loan dues should be allowed in the absence of the respondent.
What rate of future interest is just and reasonable to award considering the facts of the case.
Central Bank of India
M/s. Sai Yog Agency
J. R. Chauhan
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
