Allowed

Hdfc Bank Ltd. v. Sanjay Anantrao Lokhande

DRT5 Aug 2026OA/701/2025

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an application filed by HDFC Bank Ltd. for recovery of Rs. 34,68,971.03 along with future interest. The court mitigated the claimed 13% p.a. interest to 9% simple interest and directed the sale of a hypothecated vehicle to recover the amount.

What did the court decide?

Defendants to pay Rs. 34,68,971.03 and future interest at 9% p.a. simple from the date of application; recovery secured by sale of hypothecated vehicle.

Hdfc Bank Ltd. versus Sanjay Anantrao Lokhande — Specific Performance | DRT (2026)

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Presented on: 10.11.2025 Registered on: 29.11.2025 Decided on: 05.08.2026 Duration: Y M D 00 08 26

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IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Shri Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 701/2025

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TOTAL CLAIM AMOUNT – Rs. 34,68,971.03/-

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HDFC Bank Ltd.,

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A Registered Company, Having its Registered Office at HDFC Bank House, Senapati Bapat Marg, Lower Parel, (West), Mumbai. And having its branch office at Ramtirth, Ground Floor, Janta Raja Marg, Near Malpani Hospital, Sangamner- 422605. Through its Authrorized Signatory Mrs. Smita Manoj Ghadmode, Age: 42 Years, Occu: Service, R/o: C/o. HDFC Bank Ltd., 1^st Floor, Renuka Commercial Complex, Nirala Bazar, Aurangabad.

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… Applicant

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Mobile No.: 7972282695. E-mail: [email protected]

Versus

(OA No. 701-2025)

Page 1 of 8

[Ambadas]

Sanjay Anantrao Lokhande, Age: 56 Years, Occ. : Business, R/o: At Post Kotul, tal. Akole, Near Datta Mandir, Near Savitribai Phule Vidyalaya, Sangamner, Dist. Ahmednagar - 422070. PAN: ATYPL7144H. Mobile No.: 9529762937. E-mail: [email protected] 2. Ranjana Sanjay Lokhande, Age: 50 Years, Occ. : Business, R/o: At Post Kotul, tal. Akole, Near Datta Mandir, Near Savitribai Phule Vidyalaya, Sangamner, Dist. Ahmednagar - 422070. PAN: BNWPL0865N. Mob. No.: 7038484468. E-mail: [email protected]

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… Defendants

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APPEARANCES

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For the Applicant Mr. Umesh N. Shete - Advocate For Defendants Ex-parte

(OA No. 701-2025)

Page 2 of 8

[Ambadas]

J U D G M E N T

Delivered on (05.08.2026)

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The Applicant Bank has filed the present application for recovery of the sum of Rs. 34,68,971.03/- (Rs. Thirty-Four Lakhs, Sixty-Eight Thousand, Nine Hundred Seventy-One and Three Paisa Only) together with interest @13% p.a. with monthly rests in respect of Term Loan from 27.09.2025 till the full realization of the entire dues and costs from the Defendants. Brief facts of the application are as under:

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That the Defendants approached the Applicant Bank and requested for the sanction of Term Loan. Upon considering the Defendant’s representation, request and financial needs, the Applicant Bank sanctioned the Term Loan of Rs. 40,82,934/vide Agreement for Loan and Guarantee dated 31.10.2023 on certain terms & conditions.

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The agreed rate of interest for the Term Loan was @13% p.a. with monthly rests.

(OA No. 701-2025)

Page 3 of 8

[Ambadas]

In order to secure the aforesaid term loan, the Defendants executed loan documents in favour of the Applicant Bank namely sanction letter, demand promissory note, request letter, hypothecation agreement, letter of undertaking etc.

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The Applicant Bank contended that, in order to secure the said loan facility, the Defendants executed Irrevocable Power of Attorney dated 31.10.2023 of the following hypothecated asset in favour of the Applicant Bank:

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Description of hypothecated vehicle:

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The vehicle AL 4225 G BS VI is registered with the

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Registering Authority with registration No. MH-17-CV-7167.

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The Applicant Bank further contended that the Defendants have failed to keep their promises 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

(OA No. 701-2025)

Page 4 of 8

[Ambadas]

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 06.05.2025. Therefore on 06.06.2025, the Applicant Bank issued legal notice to the Defendants through their Advocate. Despite service of Notice, the Defendants failed and neglected to repay the outstanding dues of the Applicant Bank. Hence, this application is filed.

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Despite service, the defendants neither appeared nor filed WS. Hence, they proceeded ex-parte vide Order dated 18.06.2026.

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The Applicant Bank has filed Claim Affidavit of evidence at Exhibit-11 of Mrs. Smita Manoj Ghadmode, Officer of the Applicant Bank and has produced on record the original loan transaction documents as per Exh. “AW-1/1” to “AW-1/6” alongwith List of documents Exh.5, which corroborates the case of the Applicant Bank.

(OA No. 701-2025)

Page 5 of 8

[Ambadas]

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

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Since the Defendants failed to file 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.

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The Applicant Bank has claimed future interest at @13% p.a. with monthly rests on loan from 27.09.2025 till the full realization of the entire dues and costs from the Defendants. 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.

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Hence, I pass the following order.

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ORDER

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(A) Original Application No. 701/2025 is allowed with costs.

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(B) The Defendants shall pay Jointly and Severally to the

(OA No. 701-2025)

Page 6 of 8

[Ambadas]

Applicant Bank a sum of Rs. 34,68,971.03/- (Rs. ThirtyFour Lakhs, Sixty-Eight Thousand, Nine Hundred Seventy-One and Three Paisa Only) along-with future interest at @9% per annum (simple) from the date of filing of the Original Application, i.e., 10.11.2025, till full payment/ realization of the said amount.

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(C) The aforesaid adjudicated amount is secured by hypothecated asset in favour of the Applicant Bank vide document Exh. AW-1/3 and AW-1/4 in list of Documents Exh.5. The hypothecated asset is described as follows:

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Description of hypothecated vehicle:

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The vehicle AL 4225 G BS VI is registered with the Registering Authority with registration No. MH-17-CV7167.

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(D) The Applicant Bank is entitled to sell the hypothecated vehicle, articles/goods etc., to recover its dues.

(OA No. 701-2025)

Page 7 of 8

[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/(Dr. J. R. Chauhan) Presiding Officer Debts Recovery Tribunal, Aurangabad

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Place : Aurangabad Date : 05.08.2026

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(OA No. 701-2025)

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Page 8 of 8

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[Ambadas]

Hdfc Bank Ltd. v. Sanjay Anantrao Lokhande

Case brief

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Hdfc Bank Ltd. v. Sanjay Anantrao Lokhande

Case brief

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