Debts Recovery Tribunals and Appellate Tribunals
STATE BANK OF INDIA vs M/S STAT DIAGNOSTIC SERVICES on 9 October 2026
Date of filing : 14.06.2014
Decided on : 12.10.2026
**IN THE DEBT RECOVERY TRIBUNAL-I AT MUMBAI
TRANSFER ORIGINAL APPLICATION NO. 1094 of 2016**
State Bank of India, a bank constituted under the State Bank of India Act, 1955 having one of its Local Head Office at C-6, G Block, Bandra- Kurla complex, Bandra, Mumbai -400 051 and having one its Branch at Stressed Assets Recovery Branch, 6th Floor, "the International", 16, Maharshi Karve Road, Churchgate, Mumbai- 400 020.
...Applicant
VERSUS
1. M/s Stat Diagnostic Services, A Partnership Firm Registered under Indian Partnership Act of 1932 having its registered office at B/116 kailash Plaza Vallabh Baug lane Ghatkopar (E) Mumbai 400077
2. Mrs Preeti A. Pandya Indian inhabitant of Mumbai residing at 3 Mahavir Apt.
Modak Gulli Gandhi Chowk.Kalyan (W)
Thane 421301.
3. Mr Manish Pandey Indian inhabitant
of Mumbai residing at A2/302, Neelyog
Apt. Pant Nagar Ghatkopar (E)-400077.
...Defendants
---
Counsel for the Applicant : Advocate Apurva Damle.
Counsel for the Defendants : NIL- Defendants Ex -parte
---
Citations and Judicial Treatment
Cited by
0
Decisions in the index citing it
Cites
0
Decisions referred to
In this index
0
Of the decisions it cites
Overruled / Questioned
0
No negative treatment found
Loading the citing and cited decisions…
This judgment in the centre: on the left the decisions it cites, on the right the decisions citing it. Colour is the treatment; choose a decision to open it.
**J U D G M E N T**
1. 1. This is an application under Section 19(1) of Recovery of the Debt and Bankruptcy Act, 1993 (for short, 'the 1993 Act') to recover Rs.36,70,755.04/- with future interest thereon from the date of presentation of the Transfer Original Application till payment/realization.
2. 2. The Defendant no.1 was granted Cash Credit facility of Rs.60 Lakhs and Bank Guarantee of Rs.10 Lakhs vide arrangement letter dt. 14.08.2007, Applicant also granted enhanced credit facility from Rs.70 Lakhs to Rs.90 Lakhs vide letter dt.13.06.2008 and as specified in para no.5.4 & 5.8 of the Transfer Original Application and on the defendants executing loan and security documents.
3. Defendants created mortgage of the property viz., Flat No.304, admeasuring area 134.62 sq.mtrs on the 3rd floor in the building known as Shantanu in Shubh, Dist. Ahmedabad, in favour of the applicant to secure the loan.
4. Despite the undertaking effected by Defendants they had failed to regularise the account and service interest in the account. So the account remained out of order since long time resulting it to be declared as NPA.
5. Since defendants failed to make the repayment, the applicant was left with no other alternative other than to file the Transfer Original Application which was presented on 14.06.2014. Defendant Nos.1 to 3 were duly served with the Summons through paper publication for appearance on 03.09.2015 and also served with transfer notice through paper publication for appearance on 18.02.2020, despite receipt of Summons, the defendants did not appear. They had remained absent without any representation for them and so, they were set at exparte.
6. Despite issuance of letters, personal visits, telephonic conversation and reminders the Defendants have failed to regularise the account. So the Applicant had caused the issuance of lawyer notice to Defendants to pay up the dues with interest.
7. The applicant filed an affidavit (exhibit-12) in lieu of examination in chief through Mr. R. J. Kokali, Dy. Manager of the bank, had produced documents, which are admitted in evidence, read, recorded and exhibited and were marked as AW-1 to AW-14.
8. Accordingly, the Transfer Original Application was filed for the recovery of aggregating a sum of Rs.36,70,755.04/- with further interest @14.20% p.a with monthly rests and other expenses for the period from the date of filing of this T.O.A. till payment/realization.
9. A scrutiny of the averments in the Transfer Original Application and an analysis of the evidence adduced by the applicant, which has gone unchallenged, uncontroverted and unrebuted, shows that there is no reason to reject the claim made by the applicant bank.
10. In view of the observations made hereinabove, Transfer Original Application filed by the applicant deserves to be allowed.
11. Hence, the following order is passed:
ORDER
a. T.O.A. stands allowed with cost and the Defendant No. 1 to 3 are held liable jointly and severally to pay to the Applicant Bank within two months a sum of Rs.36,70,755.04/- with further interest @14.20% p.a and other expenses from the date of filing of this T.O.A. till the date of realization; failing which the aforesaid amount shall be recovered from the sale of mortgaged property viz., Flat No.304, admeasuring area 134.62 sq.mtrs on the 3rd floor in the building known as Shantanu in Shubh, Dist. Ahmedabad and in case of shortfall, the same shall be recovered from the sale of the movable and immovable properties of the Defendants.
- b. Defendants are directed to declare, on oath, to the Recovery Officer, Debts Recovery Tribunal – I, Mumbai, both their moveable and immoveable assets for the purpose of attachment and sale for realizing the shortfall, if any.
- c. Let a Recovery Certificate be issued with memo of cost immediately u/s 19(22) of The Recovery of Debts and Bankruptcy Act, 1993 together with the details of the properties, if any.
- d. The Defendants are restrained from depleting, transferring, encumbering, alienating or in any way dealing with their properties/assets without first paying the claim of the Applicant Bank.
- e. Copies of this judgment be sent to the parties free of cost and file be consigned to the record room.
- f. Give under my hand and the seal of this Tribunal on this date : 12.10.2026.
(Dictated to my Stenographer, transcribed by him corrected and signed by me and pronounced in open forum on 12.10.2026)
Place:- Mumbai Date:- 12.10.2026
Presiding Officer, DRT-1, Mumbai (Sreekala Suresh)