Allowed

Bank of Maharashtra v. Ananda

DRT21 Nov 2025OA/121/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the Bank of Maharashtra's application for recovery of a housing loan. The court acknowledged the defendants' default, adjusted the claim by deducting penal interest, and directed joint and several payment with future interest secured by the mortgaged property.

What did the court decide?

Defendants to pay Rs. 25,03,138/- with future interest @8.75% p.a. secured by mortgage on mortgaged property; issue of Recovery Certificate.

Bank of Maharashtra versus Ananda — Banking and Recovery | DRT (2025)

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Presented on: 29.08.2022 Registered on: 27.01.2023 Decided on: 21.11.2025 Duration: Y M D 03 02 22

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IN THE DEBTS RECOVERY TRIBUNAL AT PUNE (Before Shri Dilip G. Murumkar, Presiding Officer) ORIGINAL APPLICATION No.121/2023.

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Bank of Maharashtra ,

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A Body Corporate constituted under the Banking Companies (Acquisitions & Transfer of Undertakings) Act, 1970 having its Head Office at “Lokmangal” 1501, Shivajinagar, Pune-5 and Branch amongst other places at Aundh Branch, 93, Mahadik Building, Main Road, Aundh, Taluka Khatav, District Satara-415 510.

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… Applicant

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Versus

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1. Mr. Ananda Vithoba Jagdale R/at Post Pedgaon, Tal. Khatav District Satara-415 506.

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2. Mr. Hanumant Shivaji Khude Address- Shivaji Highschool, At Post Vaduj, Taluka Khatav, District Satara – 415 506.

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…Defendants

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APPEARANCES

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For the Applicant Advocate Satyan Jagtap For the Defendants Ex parte.

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TOTAL CLAIM AMOUNT –Rs.25,31,839/-

(OA No.121/2023)

Page 1 of 5

[ANIL]

JUDGMENT (Delivered on 21^st November, 2025)

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The Applicant Bank has filed present application for recovery of Rs.25,31,839/- together with future interest @8.75% per annum from 26.07.2022 with monthly rests till the date of filing the Original Application and thereafter till repayment/realization of the entire dues from the defendants.

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2. Brief facts of the application are as under:

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The Applicant Bank states that Defendant No.1 approached Applicant Bank and requested for Housing Term Loan facility of Rs.20 Lakhs. The Applicant Bank vide its Sanction Letter dated 13.05.2013, granted Housing Loan facility of Rs.20,00,000/- to the defendant No.1 for construction of House. Defendant No.2 is the Guarantor in his personal capacity for Housing Term Loan Facility granted to Defendant No.1 by the Applicant.

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In order to secure the aforesaid Term Loan facility, the defendants have executed loan and security documents as set out in Para No.5.5 of the Original Application, in favor of the Applicant Bank.

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In addition to this, defendants have executed Registered Mortgage in the Office of Sub Registrar Khatav (Vaduj) at Sr. No.1758/2013 dated 14.05.2013 in favour of the applicant bank of the immovable property i.e. all those pieces and parcels of land situated being and lying at village Pedgaon, CTS/Survey No.595,

(OA No.121/2023)

Page 2 of 5

[ANIL]

Taluka Khatav, District Satara admeasuring area 1200 sq. ft. alongwith house constructed thereon, more particularly mentioned in Para No.5.3 of the Original Application.

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Defendant No.2 executed Deed of Guarantee dated 14.05.2013 and guaranteed to the applicant the repayment of the amounts due by Defendant No.1 to the applicant bank.

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Defendant No.1 and 2 acknowledged their liability towards Term Loan Facility A/c No.60133439993 by executing Balance and Security Confirmation letters dated 10.04.2016 09.03.2019 and 05.02.2022.

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The Applicant Bank contended that Defendant No.1 failed and neglected to comply with the terms and conditions in which the said facility was granted to him. The Term Loan account of Defendant No.1 was running irregular and defendants were reluctant to pay the amounts. Applicant therefore, regularly and repatedly called upon Defendant No.1 to regularize the account, but he failed and neglected to comply with the same. Hence, the applicant bank issued demand notice dated 16.03.2022 to the defendants calling upon them to pay the outstanding dues. But in spite of service of notices, the defendants failed to clear the dues.

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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 as per order dated 30.05.2025 passed below Application (Exhibit-1).

(OA No.121/2023)

Page 3 of 5

[ANIL]

The Applicant Bank has filed Claim Affidavit (Exhibit-6) of Mr. Praveen Kumar, Branch Manager, authorized representative and and has produced on record the Original Loan Transaction documents at Exhibits AW-1 to AW-12, 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 the evidence of the Applicant Bank. Therefore, the Applicant Bank is entitled for the reliefs claimed.

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The Applicant Bank has claimed Penal Interest of Rs.28,701/-, which cannot be granted and the same is required to be deducted from the total claim amount. Therefore, the total claim amount of Rs.25,31,839/- is reduced to Rs . 25,03,138 /-.

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The Applicant Bank has claimed future interest @8.75% per annum with monthly rests, for the said housing loan facility which is just and reasonable rate of interest.

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Hence, I pass the following order:-

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ORDER

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(A) Original Application No.121/2023 is allowed with costs.

(OA No.121/2023)

Page 4 of 5

[ANIL]

(B) Defendant Nos.1&2 either jointly or severally shall pay sum of Rs . 25,03,138 /- (Rupees Twenty Five Lakhs Three Thousand One Hundred Thirty Eight only) with future interest @8.75% per annum to the Applicant Bank from the date of filing of the Original Application i.e.29.08.2022 till payment/realization of the amount mentioned in this operative order.

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(C) The aforesaid adjudicated amount is secured by the creation of Mortgage regarding immovable property i.e. all those pieces and parcels of land situated being and lying at village Pedgaon, CTS/Survey No.595, Taluka Khatav, District Satara admeasuring area 1200 sq. ft. alongwith house constructed thereon, more particularly mentioned in Para No.5.3 of the Original Application

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(D) The Applicant Bank is entitled to sell the mortgaged immovable property 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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Sd/Place : Pune (Dilip G. Murumkar) Date: 21.11.2025 Presiding Officer, Debts Recovery Tribunal, Pune.

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(OA No.121/2023)

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Page 5 of 5

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[ANIL]

Bank of Maharashtra v. Ananda

Case brief

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Bank of Maharashtra v. Ananda

Case brief

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