Allowed

Idbi Bank v. Rajaram Murari Kattikar

DRT7 Aug 2025OA/1089/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an application filed by IDBI Bank Ltd. against five defendants (one borrower, four guarantors) who failed to appear. The tribunal reduced the claim by deducting penal interest and fixed future interest at 9% p.a., directing the defendants to pay the adjudicated amount with a charge on mortgaged agricultural land.

What did the court decide?

Defendants directed to pay Rs. 23,73,703/- with future interest @9% p.a. and the property is secured by a charge on agricultural land.

Idbi Bank versus Rajaram Murari Kattikar — Specific Performance | DRT (2025)

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Presented on: 14.05.2022 Registered on: 09.12.2022 Decided on: 07.08.2025 Duration: Y M D 03 02 23

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IN THE DEBTS RECOVERY TRIBUNAL AT PUNE. (Before Shri. Dilip G. Murumkar, Presiding Officer) ORIGINAL APPLICATION No.1089/2022.

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IDBI Bank LTD. ,

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A Company incorporated and registered under the Companies Act, 1956 and a Company within the meaning of Section 2(20) of the Companies Act, 2013 having its registered office at IDBI Tower, WTC Complex, Cuffe Parade, Colaba, Mumbai-400 005 and having its one of the branch at Miraj Branch, Shri Krupa, CS No.4158/A, Maidan Datta Mandir, Miraj, Dist. Sangli-416 410, Maharashtra

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… Applicant

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Versus

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1. Mr. Raju @ Rajaram Murari Kattikar

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Age 42 years, Occ.:- Agri.& Business,

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2. Mrs. Sujata Ajit Kodag Age 45 years, Occ.:- Agri. & Business,

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3 . Mr. Malgonda Bhimgonda Patil

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Age 63 years, Occ.:- Agri.& Business ,

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4. Mr. Shahaji Tatabo Kore

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Age 57 years, Occ.:- Agri.& Business ,

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5. Mr. Pintu Sahdev Kattikar

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Age 38 years, Occ.:- Agri.& Business , All R/at Village Belanki, Tal. Miraj, District Sangli.

… Defendants

(OA No.1089/2022)

Page 1 of 7

[ANIL]

APPEARANCES

For the Applicant Mr. G. H. Bet i/b Mr. Nikhil Barsode – Advocate. For the Defendants Ex-parte.

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TOTAL CLAIM AMOUNT –Rs.23,79,924/- JUDGMENT

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(Delivered on 7^th August, 2025)

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The Applicant Bank has filed present application for recovery of aggregate sum of Rs. 23,79,924/- [ i.e. Rs.10,43,121/- towards AMTL A/c No.0537673100001151; Rs.7,99,552/- towards FKCC A/c No.0537651100002080 and Rs.5,37,251/- towards AMTL A/c No.0537673100001540 ] together with future interest @12.35% p.a.; @10.5% p.a. and @13.85% p.a. with monthly rests from the date of filing of the application till repayment/realization of entire dues from the defendants.

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Brief facts of the application are as under:

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Defendants approached to the applicant bank on 02.08.2016 for AMTL and Defendants No.2 and 3 supplemented as Guarantors. The Applicant Bank sanctioned AMTL of Rs.7,50,000/- on 03.08.2016, on certain terms and conditions.

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Defendants have voluntarily executed loan and security documents in consideration of loan in favour of the applicant bank as mentioned in Para No.5.7 of the Original Application.

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Defendant No.1 have created first charge security interest in favour of applicant bank on agricultural land area 1H 13 Ares at

(OA No.1089/2022)

Page 2 of 7

[ANIL]

Gat No.740, 909 & 912 at village Belanki, Tal. Miraj, District Sangli to secure Term Loan of Rs.7,50,000/-, which is recorded in presence of Defendant No.2 & 3 and the same is duly recorded and registered at Sr.No.472/2016 in Book No.1 at page No.129 to 139 before SRO No.2 at Miraj No.2 on 04.08.2016.

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Defendants again submitted loan application dated 21.08.2017 and acknowledged balance due Rs.5,50,000/- under existing Term Loan Account. Upon due scrutiny of loan proposal, applicant has sanctioned financial assistance by way of Cash Credit of Rs.5 Lakhs on 22.08.2017.

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Defendants have executed certain loan and security documents in favour of the applicant bank as mentioned in Para No.5.13 of the Original Application.

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Defendant No.1 has created first charge security interest in favour of applicant bank on Agricultural land area 2H 26 Ares at Gat No.740 & 909 & 912 at village Belanki, Tal. Miraj, District Sangli to secure Term Loan of Rs.5,50,000/-, which is recorded in presence of Defendant No.2 and 4 and the same is duly recorded and registered at Sr.No.572/2017 in Book No.1 at page No.17 to 24 before SRO No.2 at Miraj No.2 on 23.08.2017.

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Defendant No.1 also availed Term Loan of Rs.3,50,000/- on 30.05.2018 for the purpose of construction of shed and purchase of equipment for dairy business. Defendants No.3 and 5 have supplemented the request for loan as guarantors.

(OA No.1089/2022)

Page 3 of 7

[ANIL]

Defendants have executed certain loan & security documents in favour of applicant bank as mentioned in Para No.5.17 of Original Application.

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Defendant No.1 has created first charge security interest in favour of applicant bank on Agricultural land area 1H 13 Ares at Gat No. 909 & 912 at village Belanki, Tal. Miraj, District Sangli to secure Term Loan of Rs.3,50,000/-, which is recorded in presence of Defendant No.3 and 4 and the same is duly recorded and registered at Sr.No.218/2018 in Book No.1 at page No.204 to 211 before SRO No.2 at Miraj No.2 on 30.05.2018.

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It is contended that initially the loan accounts were operated in satisfactory manner and, thereafter, the defendants have hardly shown any interest in repayment of both the loans. Time and again, the defendants were called upon to adhere with repayment schedule but defendants only assured remittance in shortest possible days but hopelessly failed in own promises and hence, the accounts of defendants with Applicant turned Non-Performing Assets on 22.02.2021 as per the Reserve Bank of India norms.

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Thereafter, the Applicant Bank has issued Loan Recall Notice dated 30.09.2019 calling upon Defendant No.1 borrower to liquidate the entire dues. Distinctive notices have also been issued to the respective guarantors on 20.10.2019 calling upon them to liquidate entire dues invoking guarantees. However, the Defendants have given only false promises, failed to regularize the accounts and neglected to comply with the demands.

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Hence, this application is filed.

(OA No.1089/2022)

Page 4 of 7

[ANIL]

Defendants failed to appear despite service of summons. Hence, the application proceeded ex-parte against them vide order dated 27.06.2025 passed below Application (Exh.-1).

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The Applicant Bank has filed Claim Affidavit of evidence (Exh.-6) of Mr. Jayant Gandhe, Authorized Signatory, which supports the case of the applicant elucidated in the application.

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The Applicant Bank has produced in evidence the original loan documents at Exhs.-AW-1 to AW-28, which corroborate 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 contest the application, I find no reason to disbelieve the evidence of the Applicant Bank. Therefore, the Applicant Bank is entitled for reliefs as claimed.

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The Applicant Bank has claimed relief in respect of hypothecated assets. However, there is no detailed description with respect to the hypothecated assets. Therefore, the relief in terms of hypothecated assets cannot be granted.

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The applicant bank has claimed Penal Interest of Rs.3,732/- towards AMTL account and Rs.2,489/- towards another AMTL Account, which cannot be granted and the same is required to be deducted from the total claim amount. Therefore, the total claim amount of Term Loan account of Rs.23,79,924/- reduced to Rs.23,73,703 /-.

(OA No.1089/2022)

Page 5 of 7

[ANIL]

The Applicant Bank has claimed future interest @12.35% p.a.; @10.5% p.a. & @13.85% p.a. respectively towards Term Loan, FKCC and Term Loan respectively. Considering the facts of the present case, I am of the opinion that if future interest is granted @9% p.a. (simple) for both the loan facilities, 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.1089/2022 is allowed with costs.

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(B) Defendant Nos.1 to 5 either jointly or severally shall pay an aggregate sum of Rs.23,73,703/- (Rupees Twenty Three Lakhs Seventy Three Thousand Seven Hundred Three only) to the applicant bank, as under –

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(i) - Defendant Nos.1 to 3 either jointly or severally shall pay Rs.10,39,389/- (Rupees Ten Lakhs Thirty Nine Thousand Three Hundred Eighty Nine only) to the Applicant Bank towards AMTL Account No.0537673100001151 with future interest @9% p.a. (Simple) from the date of filing of the Original Application i.e.14.05.2022 till payment/realization of the amount mentioned in this operative order.

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(ii)- Defendant Nos.1, 3 to 4 either jointly or severally shall pay Rs.7,99,552/- (Rupees Seven Lakhs Ninety Nine Thousand Five Hundred Fifty Two only) to the Applicant Bank towards FKCC Loan Account No. 0537651100002080 with future interest @9% p.a. from the date of filing of the Original Application i.e.14.05.2022 till payment/realization of the amount mentioned in this operative order.

(OA No.1089/2022)

Page 6 of 7

[ANIL]

(iii)- Defendant Nos.1, 3 & 5 either jointly or severally shall pay Rs.5,34,762/- (Rupees Five Lakhs Thirty Four Thousand Seven Hundred Sixty Two only) to the Applicant Bank towards AMTL Account No. 0537673100001540 with future interest @9% p.a. (Simple) from the date of filing of the Original Application i.e.14.05.2022 till payment/realization of the amount mentioned in this operative order.

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(C) The aforesaid adjudicated amount is secured by the absolute immovable properties i.e. all that piece and parcel of agricultural land bearing Gat No.909 and 912 area admeasuring 1H 13Ares situated at village Belanki, Taluka District more Miraj, Sangli, particularly mentioned in the Original Application.

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(D) The Applicant Bank is entitled to sell the mortgaged properties to recover its dues.

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(E) Issue Recovery Certificate.

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(F) The Registrar is directed to send the copy of Judgment and Recovery Certificate to the Applicant Bank and the defendants.

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Place: Pune Date: 07.08.2025

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Sd/(Dilip G. Murumkar) Presiding Officer, Debts Recovery Tribunal, Pune.

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(OA No.1089/2022)

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Page 7 of 7

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[ANIL]

Idbi Bank v. Rajaram Murari Kattikar

Case brief

What is this about?

What did the court decide?

Idbi Bank v. Rajaram Murari Kattikar

Case brief

What is this about?

What did the court decide?

What the court decided

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