Allowed

State Bank of India v. Mr. Yogesh Sopan Patil

DRT10 Mar 2026OA/551/2024

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed the State Bank of India's application for recovery of Rs. 82,15,583/- and future interest against three borrowers who failed to repay sanctioned loan facilities. The amount is secured by charge over three mortgaged immovable properties.

What did the court decide?

The defendants shall pay Rs. 82,15,583/- plus future interest at 9% per annum; the bank is entitled to sell mortgaged properties to recover dues and issue a Recovery Certificate.

State Bank of India versus Mr. Yogesh Sopan Patil — Contract and Commercial Disputes | DRT (2026)

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Presented on: 24.04.2024 Registered on: 31.07.2024 Decided on: 10.03.2026 Duration: Y M D 01 10 16

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IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 551/2024

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TOTAL CLAIM AMOUNT – Rs. 82,15,583/-

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STATE BANK OF INDIA,

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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 Assets Recovery Branch (SARB), at CIDCO, Aurangabad and acting through its one of principal officer i.e. Manager Shri. Abhay S/o. Shridhar Boradkar, Age: 48 years, Occupation: Service as Manager State Bank of India, SARB, Aurangabad

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Versus

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… Applicant

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1. Mr. Yogesh Sopan Patil, Age: Major, Occ.: Business, Prop. Ganesh Trading Shop at P.E. Tatya Market, Raver Tal. Raver, Dist. Jalgaon 425508. AND

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R/o.: Athwade Bazar, Desarda Gin, Raver Tal. Raver, Dist. Jalgaon 425508

(OA No.551/2024)

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[AMBADAS]

2. Mr. Ganesh Sopan Patil, Age: Major, Occ.: Business, R/o.:- Khalcha Wada Nehete, Tal. Raver, Dist. Jalgaon 425508.

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3. Mr. Vitthal Baburao Patil, Age: Major, Occ.: Business, R/o.:- Athwade Bazar, Desarda Gin, Raver Tal. Raver, Dist. Jalgaon 425508.

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…Defendants.

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APPEARANCES

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Mr. Sachin S. Katariya -Advocate Ex-parte

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For the Applicant For Defendants

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JUDGMENT

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Delivered on 10.03.2026

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The Applicant Bank has filed the present application for the

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recovery of a sum of Rs. 82,15,583/- (Rupees Eighty Two Lacs, Fifteen Thousand, Five Hundred and Eighty Three only), along with further interest from the date of filing of the Original Application, i.e., 24.04.2024, until the date of realization of the entire outstanding dues from the Defendants.

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Brief facts of the application are as under:

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The Applicant Bank submits that the Defendant No. 1 had approached and requested the Applicant Bank for grant of a Cash

(OA No.551/2024)

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[AMBADAS]

Credit Facility. Upon considering the request and financial requirements of the Defendant, the Applicant Bank sanctioned the facility on certain terms and conditions as detailed hereunder:

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Cash Credit Facility of Rs. 4,50,000/- was sanctioned vide Sanction Letter dated 13.05.2010 . The agreed rate of interest was 11.75% per annum with monthly rests , along with additional interest @2% per annum by way of liquidated damages in the event of default.

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Thereafter, the facility was enhanced to Rs. 20,00,000/- vide Arrangement Letter dated 24.02.2014 . The agreed rate of interest was 13.50% per annum with monthly rests , together with additional interest @2% per annum by way of liquidated damages in case of default.

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Subsequently, the facility was further enhanced to Rs. 50,00,000/- vide Arrangement Letter dated 22.02.2016 on the same terms and conditions, with interest @13.50% per annum with monthly rests and additional interest @2% per annum in case of default .

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Thereafter, the facility was enhanced to Rs. 70,00,000/- vide Arrangement Letter dated 18.04.2018 . The agreed rate of interest was 8.15% per annum with monthly rests , along with

(OA No.551/2024)

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[AMBADAS]

additional interest @2% per annum by way of liquidated damages in the event of default.

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During the COVID-19 lockdown period , the Government of India introduced the Emergency Credit Line Guarantee Scheme (ECLGS) . Under the said scheme, the Defendants approached the Applicant Bank and accordingly a loan of Rs. 14,00,000/- was sanctioned in favour of the Defendants in the form of GECL Term Loan (GECL-TL) . The agreed rate of interest for the said facility was 7.80% per annum with monthly rests , along with additional interest @2% per annum by way of liquidated damages in the event of default in repayment.

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Thereafter, the Defendants requested the Applicant Bank for revision of the loan facilities in their favour. Accordingly, considering the said request, the Applicant Bank vide Arrangement Letter dated 04.11.2022 revised the facilities, whereby the GECL facility was reduced from Rs. 14,00,000/to Rs. 12,00,000/- , while the Cash Credit Facility remained unchanged at Rs. 70,00,000/- .

(OA No.551/2024)

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[AMBADAS]

In order to secure the aforesaid loan facility, the Defendants executed various loan documents in favor of the Applicant Bank. These included sanction letters, hypothecation agreements, letters of undertaking, registered mortgage deeds dated 13.05.2010, 24.02.2014, 09.02.2016, 16.04.2018 & 02.07.2020 etc. Additionally defendant No. 2 and 3 stood as guarantors for defendant No. 1 and executed deed of guarantee in favor of applicant bank.

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The Applicant Bank further contends that, in order to secure the aforesaid loan facility, the Defendants executed registered mortgage deeds dated 13.05.2010, 24.02.2014, 09.02.2016, 16.04.2018 & 02.07.2020 in favour of the Applicant Bank. The mortgage was created in respect of the following properties:

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A) All that piece and parcel of Residential Property at CTS No. 366/1/11 Raver area admeasuring 170.72 Sq. Mtrs., situated at Desarda Jin Athwade Bazar, Raver Tq. Raver, Dist. Jalgaon.

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B) All that piece and parcel of Residential Property at CTS No. 366/1/4 Raver area admeasuring 193.60 Sq. Mtrs., situated at Desarda Jin Athwade Bazar, Raver Tq. Raver, Dist. Jalgaon.

(OA No.551/2024)

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[AMBADAS]

C) All that piece and parcel of Gut No. 82/2/1, Plot No. 1 and 18 at Nehta Tq. Raver admeasuring 210 Sq. Mtrs., situated at Nehate PO Khirwad, Tq. Raver, Dist. Jalgaon.

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The applicant bank contended that the defendants have failed to keep their promise and commitments agreed by them with regard to due repayment of the loan amount. The defendants 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 defendants to pay with the agreed rate of interest thereon, but the defendants failed and neglected to pay the same. The loan account of the defendants became irregular and classified as NPA on 29.10.2023. Therefore, on 18.03.2024 the applicant bank issued legal Notice to the defendants. The defendants failed and neglected to repay the outstanding dues of the applicant Bank. Hence, this application is filed.

(OA No.551/2024)

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[AMBADAS]

The defendants failed to appear in matter though they were served through RPAD. Hence, the defendants were proceeded exparte as per Order dated 24.01.2025.

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The applicant Bank has filed Claim Affidavit of evidence at Exhibit-4 of Abhay S/o. Shridhar Boradkar, Manager of the applicant Bank, and has produced on record the original loan transaction documents as Exh. A-1 to A-33 along with 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 defendants 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.

(OA No.551/2024)

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[AMBADAS]

The applicant Bank has claimed charge over immovable properties of the borrowers which are mortgaged in favour of the applicant bank.

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The applicant Bank has claimed future interest at @7.40% & @14.75% with monthly rests from the date of filing i.e. 24.04.2024 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) on outstanding amount, it would be just and reasonable rate of interest.

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ORDER

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(A) Original Application No. 551/2024 is allowed with costs.

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(B) The defendants shall pay jointly and severally to the applicant Bank a sum of Rs. 82,15,583/- (Rupees Eighty Two Lacs, Fifteen Thousand, Five Hundred and Eighty Three only), along with future interest @ 9% per annum (simple) from the date of filing of the Original

(OA No.551/2024)

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[AMBADAS]

Application i.e. 24.04.2024 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 documents at Exhibit A-5, A-9, A-13, A-17 & A-21 in list of documents Exhibit 5.

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A) All that piece and parcel of Residential Property at CTS No. 366/1/11 Raver area admeasuring 170.72 Sq. Mtrs., situated at Desarda Jin Athwade Bazar, Raver Tq. Raver, Dist. Jalgaon.

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B) All that piece and parcel of Residential Property at CTS No. 366/1/4 Raver area admeasuring 193.60 Sq. Mtrs., situated at Desarda Jin Athwade Bazar, Raver Tq. Raver, Dist. Jalgaon.

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C) All that piece and parcel of Gut No. 82/2/1, Plot No. 1 and 18 at Nehta Tq. Raver admeasuring 210 Sq. Mtrs., situated at Nehate PO Khirwad, Tq. Raver, Dist. Jalgaon.

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(D) The applicant Bank is entitled to sell the mortgaged immovable properties and hypothecated articles/goods etc., to recover its dues.

(OA No.551/2024)

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[AMBADAS]

(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 defendants.

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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:.10.03.2026 Debts Recovery Tribunal, Aurangabad

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(OA No.551/2024)

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[AMBADAS]

State Bank of India v. Mr. Yogesh Sopan Patil

Case brief

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State Bank of India v. Mr. Yogesh Sopan Patil

Case brief

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