Debts Recovery Tribunal adjudicated an "in character" recovery application filed by State Bank of India against three borrowers for a home loan default.
Defendants to pay Rs. 36,27,913.02 plus future interest at 8% per annum; recovery certificate issued; sale of mortgaged property directed.
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: 22.10.2024 Registered on: 30.10.2024 Decided on: 12.08.2026 Duration: Y M D 02 09 20
IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 860/2024
TOTAL CLAIM AMOUNT – Rs. 36,27,913.02/-
State Bank of India,
A Body Corporate constituted under the State Bank of India Act, 1955, Having its Local Head Office at, Madam Cama Road, Nariman Point, Mumbai 400 021 and one of its branch Stressed Assets Recovery Branch, Aurangabad, At Plot No., 1 Ground Floor, Administrative Building, Town Centre, N-5, CIDCO, CH. Sambhaji Nagar 431004 through Shivaji Vitthalrao Daud, Age: 55 years, Occ.: Service Branch at SAR, Branch Aurangabad and having authority to File the Application which includes the authority to sign and verify the application.
Versus
… Applicant
1. Anand Sahebrao Kakde, Age: 42 years, Occ.: Agri., R/o.: Plot No. 145, S. No. 527/1B, Shantiniketan Colony, Gangakhed Road, Tq. and Dist. Parbhani 431401.
(OA No.860/2024)
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2. Prashant Sahebrao Kakde,
Age: 39 years, Occ.: Agri., R/o.: Plot No. 145, S. No. 527/1B, Shantiniketan Colony, Gangakhed Road, Tq. and Dist. Parbhani 431401.
3. Dinkar Govindrao Kakde,
Age: 59 years, Occ.: Agri., R/o.: Plot No. 145, S. No. 527/1B, Shantiniketan Colony, Gangakhed Road, Tq. and Dist. Parbhani 431401.
…Defendants
APPEARANCES
Mr. Ashok M. Kekan –Advocate Ex-parte
For the Applicant For Defendants
JUDGMENT
Delivered on 12.08.2026
Brief facts of the application are as under:
(OA No.860/2024)
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Thereafter, Defendants had approached and requested the Applicant Bank for Top Home Loan Facilities. Upon considering the request and financial needs of the Defendants, the Applicant Bank sanctioned Top Home Loan Facilities of Rs. 15,00,000/- vide arrangement letter dated 31.12.2018 on certain terms and
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conditions. The agreed rate of interest for aforesaid loan facility
was @ 8.55% per annum with monthly rests. The Defendants also
agreed to pay additional interest @2% by way of liquidated damages in the event of any default in repayment.
The Applicant Bank further contends that, in order to secure the aforesaid loan facility, the Defendants created first charge over his immovable property by executing registered Mortgaged Deed dated 06.12.2018 in favour of the Applicant Bank. The mortgage was created in respect of the following property:
All that piece and parcel situated at Shantiniketan Colony, Gangakhed Road, S. No. 527/1B, Plot No. 145, Ward No. 17, MC House No. 527/1/145, Length East-West 19.00 Meters & Width South North-10 Meters, Parbhani, Tq. and Dist. Parbhani, admeasuring 190 Sq. Meters, which is bounded as under: East: Internal Road, West: Internal Road,
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South: Plot No. 146, North: Plot No. 144.
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(OA No.860/2024)
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ORDER
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documents at Annexure A-5 to A-10, A-15 & A-16 in list of documents Exh. 5.
All that piece and parcel situated at Shantiniketan Colony, Gangakhed Road, S. No. 527/1B, Plot No. 145, Ward No. 17, MC House No. 527/1/145, Length EastWest 19.00 Meters & Width South North-10 Meters, Parbhani, Tq. and Dist. Parbhani, admeasuring 190 Sq. Meters, which is bounded as under:
East: Internal Road, West: Internal Road, South: Plot No. 146, North: Plot No. 144.
Pronounced in open court. (Dr. J. R. Chauhan) Place: Aurangabad Presiding Officer Date:.12.08.2026 Debts Recovery Tribunal, Aurangabad
(OA No.860/2024)
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2 issues framed by the court
Whether the mortgage created by the defendants secures the outstanding dues claimed by the bank.
Whether future interest rates requested by the bank should be modified for justice and reasonableness.
State Bank of India
Anand Sahebrao Kakde
Prashant Sahebrao Kakde
Dinkar Govindrao Kakde
J. R. Chauhan
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
