Allowed

Bank of India v. Hanumant Mali

DRT26 Aug 2025OA/1079/2023

Case brief

AI extract

What is this about?

The Tribunal allowed the bank's application for recovery of loan dues of Rs.10,47,044 owed by an agriculturist borrower and two guarantors, finding no merits in defendants ex-parte defense and modifying interest rate to 9% per annum while confirming mortgage security.

What did the court decide?

Defendants jointly/severally to pay Rs.10,47,044 plus future interest @9% per annum from filing date with directions to sell mortgaged agricultural land.

Bank of India versus Hanumant Mali — Money Laundering | DRT (2025)

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Presented on .. 21.05.2018 Registered on .. 14.07.2023 Decided on .. 26.08.2025 Duration .. Y—M—D 07--03--05

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IN THE DEBTS RECOVERY TRIBUNAL AT PUNE (Before Shri Dilip G. Murumkar, Presiding Officer) ORIGINAL APPLICATION No. 1079/2023.

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Bank of India,

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A Bank constituted under the Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970 and having its head office at Star House, C-5, G Block, Bandra-Kurla Complex, Bandra East, Mumbai – 400051 and branch At and Post Kurul, Taluka Mohol, District Solapur.

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… Applicant

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Versus

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1 Mr. Hanumant Dagadu Mali, Age Adult, Occ. Agricultural, R/o – At Post Fulchincholi, Taluka Pandharpur, District Solapur 413 304.

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2 Mr. Gangadhar Muralidhar Doke, Age Adult, Occ. Agricultural, R/o – At Post Takali Sikandar, Taluka Mohol, Dist. Solapur 413 248.

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3 Mr. Bhakar Tatya Mane, Age Adult, Occ. Agricultural, R/o – At Post Saundane, Taluka Mohol, District Solapur 413 213.

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… Defendants

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Sanap ( OA No. 1079/2023 ) 1 of 5

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Appearances :- For Applicant Advocate Satyen Jagtap. For Defendants Ex parte.

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Total Claim Amount – Rs.10,47,043=84

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JUDGMENT

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(Delivered on 26^th August, 2025)

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The Applicant Bank has filed the present application for recovery of the sum of Rs.10,47,043=84 (by rounding up Rs.10,47,044/-) together with future interest @13.50% per annum from the date of Application till realization of the entire dues from the defendants.

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Brief facts of the application are as under :-

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As per the loan application dated 25.12.2007 of defendant No.1, the applicant Bank sanctioned the Term Loan facility of Rs.3,50,000/- for development of agricultural activity to defendant No.1. Defendant Nos.2 and 3 stood guarantors for the repayment of loan availed by defendant No.1.

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In order to secure the aforesaid loan facility, the defendants have executed necessary loan and security documents in favour of the applicant Bank. Defendant No.1 has also executed registered mortgage dated 14.02.2008 in respect of agricultural land bearing Gat No.

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Sanap ( OA No. 1079/2023 ) 2 of 5

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10/1, area admeasuring 95 R situated at village Fulchincholi, Taluka Pandharpur, District Solapur, in favour of the applicant Bank. Defendant No.1 has also executed Acknowledgment of Debts on 29.04.2010, 21.04.2013 and 20.04.2016 and thereby confirmed the balance outstanding in loan account.

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The applicant Bank contended that the defendants committed defaults in payment of installments and failed to regularize the accounts. Therefore, on 30.01.2018, the applicant Bank issued legal Notice to the defendants. Despite service of Notice, the defendants failed and neglected to pay the outstanding dues of the applicant Bank.

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Hence, this application is filed.

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The defendants failed to appear despite service of summons. Hence, the application proceeded ex-parte against the defendants as per Order dated 06.05.2025 passed below Application (Exhibit-1).

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The applicant Bank has filed Claim Affidavit of evidence (Exhibit-6) of Mr. Ashok Kanagi, Branch Manager of the applicant Bank, and has produced on record the original loan transaction documents at Sr. Nos. AW1-1 to AW114 along with list (Exhibit 7), which corroborates the case of the applicant Bank.

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Sanap ( OA No. 1079/2023 ) 3 of 5

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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 contest the application, I find no reason to disbelieve evidence of the applicant Bank. Therefore, the applicant Bank is entitled for reliefs as claimed.

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The applicant Bank has claimed future interest @13.50% per annum. However, considering the facts of the case, I am of the opinion that if future interest is granted @9% per annum (simple), it would be just and reasonable rate of interest.

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Hence, I pass the following order.

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O R D E R

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A} Original Application No. 1079/2023 is allowed with costs.

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B} Defendant Nos.1 to 3 either jointly or severally shall pay to the applicant Bank the sum of Rs.10,47,044/(Rupees Ten Lakh Forty Seven Thousand Forty Four only) along with future interest @9% per annum from the date of filing of the Original Application i.e. 21.05.2018 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

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Sanap ( OA No. 1079/2023 ) 4 of 5

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valid and subsisting mortgage in respect of agricultural land bearing Gat No. 10/1, area admeasuring 95 R situated at village Fulchincholi, Taluka Pandharpur, District Solapur, more particularly described in the Para No. 5.6 of the Original Application.

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D} The applicant Bank is entitled to sell the mortgaged property to recover its dues.

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E} Issue Recovery Certificate. F} The Registrar is directed to send the copy of Judgment and Recovery Certificate to the applicant and defendants.

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Sd/( Dilip G. Murumkar ) Place : Pune Presiding Officer Date : 26.08.2025 Debts Recovery Tribunal, Pune.

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Sanap ( OA No. 1079/2023 ) 5 of 5

Bank of India v. Hanumant Mali

Case brief

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Bank of India v. Hanumant Mali

Case brief

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