Allowed

Bank of Maharashtra v. Samadhan

DRT25 Jun 2025OA/1092/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the applicants bank to recover Rs.47 lakhs approx. from defaulting borrowers and guarantors. The court reduced penal interest and capped future interest at 9%, while recognizing rights over mortgaged immovable property.

What did the court decide?

Defendants jointly or severally to pay reduced principal amounts along with 9% per annum interest from date of application. Recovery certificate issued.

Bank of Maharashtra versus Samadhan — Contract and Commercial Disputes | DRT (2025)

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Presented on .. 08.04.2022 Registered on .. 09.12.2022 Decided on .. 25.06.2025 Duration .. Y—M—D 03--02--17

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IN THE DEBTS RECOVERY TRIBUNAL AT PUNE (Before Shri Dilip G. Murumkar, Presiding Officer) ORIGINAL APPLICATION No. 1092/2022.

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Bank of Maharashtra, A Banking Company Incorporated under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, having its registered office at ―Lokmangal‖, 1501, Shivajinagar, Pune – 411005 and one of its branch office at Watambare Chief, Solapur.

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… Applicant

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Versus

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1 Samadhan Baburao Yelpale, Age Adult, Occ. Agriculturist,

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2 Sunanda Samadhan Yelpale, Age Adult, Occ. Housewife,

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3 Nitin Maruti Yelpale, Age Adult, Occ. Farmer,

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4 Sanjay Kisan Yelpale, Age Adult, Occ. Agriculturist,

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5 Laxman Baburao Yelpale, Age Adult, Occ. Agriculturist,

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Sanap ( OA No. 1092/2022 ) 1 of 9

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6 Arvind Shivaji Pujari, Age Adult, Occ. Agriculturist, All R/at – Post Ajnale, Taluka Sangola, District Solapur 413 308. … Defendants

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:- Appearances For Applicant Advocate V.S. Tokekar. For Defendants Ex parte.

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Total Claim Amount – Rs.47,06,203=54

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JUDGMENT (Delivered on 25^th June, 2025)

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The Applicant Bank has filed the present application for recovery of the sum of Rs.47,06,203=54 together with future interest @12.50% per annum for Term Loan Account No. 60070440769, @11.60% per annum for Term Loan Account No. 60099207049, @12.15% per annum for Term Loan Account No. 60223776062 and @9.40% per annum for MCC Loan Account No. 60074397106 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 of defendant No.1, the applicant Bank sanctioned the Term loan facility of Rs.1,65,000/- to defendant No.1 for agricultural purpose vide Sanction Letter dated 02.05.2011. Defendant Nos. 3

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and 4 stood guarantors for the repayment of loan availed by defendant No.1.

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Again as per the loan application of defendant Nos.1 and 2, the applicant Bank sanctioned the Term loan facility of Rs.3,50,000/- to defendant Nos.1 and 2 for minor irrigation purpose vide Sanction Letter dated 11.06.2012. Defendant Nos. 3 and 4 stood guarantors for the repayment of loan availed by defendant Nos.1 and 2.

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Again as per the loan application of defendant No.1, the applicant Bank sanctioned the Term loan facility of Rs.15,60,000/- to defendant No.1 for Lift irrigation purpose vide Sanction Letter dated 30.07.2015. Defendant Nos. 2 and 6 stood guarantors for the repayment of loan availed by defendant No.1.

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Again as per the loan application of defendant No.1, the applicant Bank sanctioned the MKCC loan facility of Rs.8,79,000/to defendant No.1 for Pomegranate cultivation purpose vide Sanction Letter dated 01.06.2016. 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 facilities, the defendants executed necessary loan and security

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Sanap ( OA No. 1092/2022 ) 3 of 9

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documents in favour of the applicant Bank along with deed of hypothecation of standing crops, equipments, tools, electric motors and all machineries and declaratory mortgage on 26.05.2916 in respect of immovable property bearing Gat Nos. 274, 271 and 192/2 situated at village Ligdewadi, Taluka Sangola, District Solapur, in favour of the applicant Bank.

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The defendants have also executed Balance Confirmation Letters on 30.04.2014, 10.06.2015, 08.06.2018, 28.05.2019, 20.04.2020 and 31.07.2021 and thereby confirmed the balance outstanding in loan accounts.

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The applicant Bank contended that the defendants committed defaults in payment of installments and failed to regularize the accounts. Hence, the applicant Bank has classified the account of the defendants as Non Performing Asset in accordance with guidelines of Reserve Bank of India. Therefore, on 02.01.2021, the applicant Bank issued Recall 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 27.03.2025 passed below Application (Exhibit-1).

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The applicant Bank has filed Claim Affidavit of evidence (Exhibit-6) of Mr. Tushar Tikhute, Chief Manager of the applicant Bank, and has produced on record the original loan transaction documents at Sr. Nos. AW-1-1 to AW-146 along with list (Exhibit 7), which corroborates 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 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.1,880/- for Term Loan Account No. 60070440769,

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Sanap ( OA No. 1092/2022 ) 5 of 9

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which cannot be granted and the same is required to be deducted from the claim amount Term Loan Account No. 60070440769. Therefore, the claim amount of Term Loan Account No. 60070440769 of Rs.48,908/- is reduced to Rs.47,028/-.

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The applicant Bank has claimed Penal Interest of Rs.10,706/- for Term Loan Account No. 60099207049, which cannot be granted and the same is required to be deducted from the claim amount Term Loan Account No. 60099207049. Therefore, the claim amount of Term Loan Account No. 60099207049 of Rs.3,98,320/- is reduced to Rs.3,87,614/-.

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The applicant Bank has claimed Penal Interest of Rs.44,260/- for Term Loan Account No. 60223776062, which cannot be granted and the same is required to be deducted from the claim amount Term Loan Account No. 60223776062. Therefore, the claim amount of Term Loan Account No. 60223776062 of Rs.31,53,345/- is reduced to Rs.31,09,085/-.

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The applicant Bank has claimed Penal Interest of Rs.28,378/- for MCC Loan Account No. 60074397106, which cannot be granted and the same is required to be deducted from the claim amount MCC Loan Account

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Sanap ( OA No. 1092/2022 ) 6 of 9

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No. 60074397106. Therefore, the claim amount of MCC Loan Account No. 60074397106 of Rs.11,05,568/- is reduced to Rs.10,77,191/-.

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The applicant Bank has claimed future interest @12.50% per annum for Term Loan Account No. 60070440769, @11.60% per annum for Term Loan Account No. 60099207049, @12.15% per annum for Term Loan Account No. 60223776062 and @9.40% per annum for MCC Loan Account No. 60074397106. However, considering the facts of the case, I am of the opinion that if future interest is granted @9% per annum (simple) for all above loan facilities, 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. 1092/2022 is allowed with proportionate costs.

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B} Defendant Nos.1, 3 and 4 either jointly or severally shall pay to the applicant Bank the sum of Rs.47,028/(Rupees Forty Seven Thousand Twenty Eight only) towards Term Loan Account No. 60070440769 along with future interest @9% per annum from the date of filing of the Original Application i.e. 08.04.2022 till full

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Sanap ( OA No. 1092/2022 ) 7 of 9

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payment/realization of the amount mentioned in this operative order.

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C} Defendant Nos.1 to 4 either jointly or severally shall pay to the applicant Bank the sum of Rs.3,87,614/- (Rupees Three Lakhs Eighty Seven Thousand Six Hundred Fourteen only) towards Term Loan Account No. 60099207049 along with future interest @9% per annum from the date of filing of the Original Application i.e. 08.04.2022 till full payment/realization of the amount mentioned in this operative order.

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D} Defendant Nos.1, 2 and 6 either jointly or severally shall pay to the applicant Bank the sum of Rs.31,09,085/(Rupees Thirty One Lakhs Nine Thousand Eighty Five only) towards Term Loan Account No. 60223776062 along with future interest @9% per annum from the date of filing of the Original Application i.e. 08.04.2022 till full payment/realization of the amount mentioned in this operative order.

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E} Defendant Nos.1 to 3 either jointly or severally shall pay to the applicant Bank the sum of Rs.10,77,191/- (Rupees Ten Lakhs Seventy Seven Thousand One Hundred Ninety One only) towards MCC Loan Account No. 60074397106 along with future interest @9% per annum

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from the date of filing of the Original Application i.e. 08.04.2022 till full payment/realization of the amount mentioned in this operative order.

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F} The aforesaid adjudicated amount is secured by the valid and subsisting mortgage of immovable property bearing Gat Nos. 274, 271 and 192/2 situated at village Ligdewadi, Taluka Sangola, District Solapur, more particularly described in the Schedule of the Original Application.

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

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H} Issue Recovery Certificate. I} 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 : 25.06.2025 Debts Recovery Tribunal, Pune.

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Sanap ( OA No. 1092/2022 ) 9 of 9

Bank of Maharashtra v. Samadhan

Case brief

What is this about?

What did the court decide?

Bank of Maharashtra v. Samadhan

Case brief

What is this about?

What did the court decide?

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