Allowed

State Bank of India v. Mr. Dinesh Gulab Jadhav

DRT7 Apr 2026OA/548/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an application filed by the State Bank of India for recovery of an agricultural loan of Rs. 45,65,472/- paid by a defaulting borrower via ex-parte proceedings after the defendant's non-appearance.

What did the court decide?

Recovery of Rs. 45,65,472/- plus 7% simple interest; secure mortgage on lands; direction to issue Recovery Certificate and permit sale of mortgaged property.

State Bank of India versus Mr. Dinesh Gulab Jadhav — Contract and Commercial Disputes | DRT (2026)

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Presented on: 06.06.2024 Registered on: 31.07.2024 Decided on: 07.04.2026 Duration: Y M D 01 10 01

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IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 548/2024

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TOTAL CLAIM AMOUNT – Rs. 45,65,472/-

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State Bank of India, a body corporate constituted under the State Bank of India Act, 1955 having its Local Head Office at Bandra Kurla Complex, Mumbai, one of its office at Stressed Asserts Recovery Branch (SARB), at CIDCO, Aurangabad and acting through it’s one of principal officer i.e. Manager, Mr. Bashir Mahammadhanif Kazi, Age: 51 Yrs., Occ.: Service as Manager State Bank of India, SARB, Aurangabad-431003.

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Versus

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… Applicant

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Mr. Dinesh Gulab Jadhav, Age: Major, Occ.: Business R/o.: Wadggaon Wakhari, Jalna, Dist. Jalna 431203.

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…Defendant

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APPEARANCES

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For the Applicant For Defendant

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Mr. Sachin S. Katariya Advocate Ex-parte

(OA No.548/2024)

Page 1 of 7

[AMBADAS]

JUDGMENT Delivered on 07.04.2026

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The Applicant Bank has filed the present application for the recovery of a sum of Rs. 45,65,472/- (Rupees Forty Five Lacs, Sixty Five Thousand, Four Hundred and Seventy Two only), along with further interest from the date of filing of the Original Application, i.e., 06.06.2024, 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 the Applicant Bank requesting sanction of Agriculture Finance. After due consideration, the Bank Sanctioned Agriculture Finance of ₹25,00,000/- vide Arrangement Letter dated 08.05.2019, subject to certain terms and conditions. The agreed rate of interest for the said facility was @ 12.10% per annum with monthly rests. Additionally, the Defendant agreed to pay further interest at the

(OA No.548/2024)

Page 2 of 7

[AMBADAS]

rate of 2 % per annum by way of liquidated damages in the event of 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, hypothecation agreement, and mortgage deed bearing daybook Sr. No. 2190/2019 dated 03.05.2019 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 created first charge over immovable property by executing mortgage deed bearing daybook Sr. No. 2190/2019 dated 03.05.2019 in favour of the Applicant Bank. The mortgage was created in respect of the following properties:

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i) All that piece and parcel of agricultural land situated at Gut No. 207 Village Nhava, Tq. Dist. Jalna admeasuring to the extent of 3.34 Acre.

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ii) All that piece and parcel of agricultural land situated at Gut No. 8 Village Nhava, Tq. Dist. Jalna admeasuring to the extent of 2.96 Acre.

(OA No.548/2024)

Page 3 of 7

[AMBADAS]

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 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 01.09.2020. Therefore, on 10.05.2024 the applicant bank issued legal notice to the defendant through his advocate. Despite service of Notices, 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 06.02.2025.

(OA No.548/2024)

Page 4 of 7

[AMBADAS]

The applicant Bank has filed Claim Affidavit of evidence at Exhibit-4 of Mr. Bashir Mahammadhanif Kazi, City Case Officer / Manager of the applicant Bank, and has produced on record the original loan transaction documents as Exhibit A-1 to A-14 as per list of documents Exh. 5 which corroborates the case of the applicant Bank.

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I have heard arguments of the learned Advocate for the applicant Bank.

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Since the defendant failed to appear and 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 properties of the borrower which are mortgaged in favour of the applicant bank.

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The applicant Bank has claimed future interest @12.10% with monthly rests from the date of filing i.e. 06.06.2024 of this

(OA No.548/2024)

Page 5 of 7

[AMBADAS]

application till realization of the claim amount. However, considering the facts of the case, I am of the opinion that if future

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interest is granted @ 7% 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. 548/2024 is allowed with

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costs.

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(B) The defendant shall pay to the applicant Bank a sum of Rs. 45,65,472/- (Rupees Forty Five Lacs, Sixty Five Thousand, Four Hundred and Seventy Two only), along with future interest @ 7% per annum (simple), from the date of filing of the O.A. i.e. 06.06.2024 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 mortgage of the following immovable properties vide document at Exh. A-5 in list of documents Exh. 5.

(OA No.548/2024)

Page 6 of 7

[AMBADAS]

i) All that piece and parcel of agricultural land situated at Gut No. 207 Village Nhava, Tq. & Dist. Jalna admeasuring to the extent of 3.34 Acre.

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ii) All that piece and parcel of agricultural land situated at Gut No. 8 Village Patratanda, Tq. & Dist. Jalna admeasuring to the extent of 2.96 Acre.

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(D) The applicant Bank is entitled to sell the mortgaged immovable properties, 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/Pronounced in open court. (Dr. J. R. Chauhan) Place: Aurangabad Presiding Officer Date:.07.04.2026 Debts Recovery Tribunal, Aurangabad

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(OA No.548/2024)

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Page 7 of 7

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[AMBADAS]

State Bank of India v. Mr. Dinesh Gulab Jadhav

Case brief

What is this about?

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State Bank of India v. Mr. Dinesh Gulab Jadhav

Case brief

What is this about?

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