In an ex-parte recovery application, the Tribunal allowed Bank of India's claim for outstanding dues of approximately 36.43 lakhs along with future interest at 11% p.a. secureable through hypothecated medicines.
The defendants shall pay Rs. 36,43,542/- along with future interest @ 11% p.a. simple from 29.12.2022. Claim secured by hypothecation of medicines.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
Presented on: 29.12.2022 Registered on: 02.11.2023 Decided on: 30.10.2025 Duration: Y M D 02 10 01
IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 131/2023
TOTAL CLAIM AMOUNT – Rs. 36,43,542/-
Bank of India ,
A Body Corporate constituted under the provisions of Banking Companies (Acquisition and Transfer of Undertakings) Act V of 1970, Having its Head Office at Star House, “C-5”, G-Block, Bandra Kurla Complex, Bandra (East), Mumbai and branch amongst other places at Aurangabad Branch, Mandip Towers, Maharshi Dayanand Chowk, Jalna Road, Aurangabad, Through its Chief Manager & Power of Attorney Holder, Mr. Chandrakant Keshav Parate, Age: 57 years, Occ.: Service, R/o.: Aurangabad.
… Applicant
Versus
(OA No.131/2023)
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[AMBADAS]
1. Mr. Narayan Apichand Kale,
Age: 55 years, Occ.: Agriculture/Business, Prop. M/s. Meherkrupa Medical and General Stores, R/o.: Near Pisadevi Mandir, Pisadevi, Taluka and District Aurangabad-431001.
And
Flat No. 1, Plot No. 60, Saikrupa housing society, Bajrang Chowk, N-6 CIDCO, Aurangabad-431003.
2. Mr. Pravin Ankushrao Thale,
Age: 38 years, Occ.: Agriculture/Business, R/o.: House No. 157, Mauje Takli Mali, Post Pimpri Raja, Taluka and District Aurangabad-431007.
…Defendants
APPEARANCES
Mr. P.N. Kapadia -Advocate Ex-parte
For the Applicant For Defendants
JUDGMENT
Delivered on 30.10.2025
(OA No.131/2023)
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[AMBADAS]
i.e., 29.12.2022, until the date of realization of the entire outstanding dues from the Defendants.
Brief facts of the application are as under:
(OA No.131/2023)
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[AMBADAS]
defendant No. 2 stood as guarantor for defendant no. 1 and executed deed of guarantee on 28.03.2017 in favour of the Applicant Bank.
(OA No.131/2023)
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[AMBADAS]
defendants through their advocate. Despite service of Notices, the defendants failed and neglected to repay the outstanding dues of the applicant Bank. Hence, this application is filed.
(OA No.131/2023)
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[AMBADAS]
applicant Bank. Therefore, the applicant Bank is entitled for the reliefs as claimed.
ORDER
(OA No.131/2023)
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[AMBADAS]
(simple) from the date of filing of the Original Application i.e. 29.12.2022 till full payment/realization
of the amount mentioned in this operative order.
(C) The aforesaid adjudicated amount is secured by the hypothecation of medicines vide hypothecation agreement dated 28.03.2017 at Exh. A-4 in the list of documents Exh. 5
(E) Issue Recovery Certificate accordingly.
(F) The Registrar is directed to send the copy of the Judgment and Recovery Certificate to the applicant and defendants.
(G) File be consigned to the record room.
Sd/-
Pronounced in open court. (Dr. J. R. Chauhan) Place: Aurangabad Presiding Officer Date:.30.10.2025 Debts Recovery Tribunal, Aurangabad
(OA No.131/2023)
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[AMBADAS]
Bank of India
Mr. Narayan Apichand Kale
Mr. Pravin Ankushrao Thale
Dr. J. R. Chauhan
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
