Debts Recovery Tribunal allowed applicant bank's ex parte application for recovery of loan dues. Amount reduced after deducting penal charges. Future interest fixed at 9% p.a. Recovery certificate issued.
Recovery of Rs.25,53,359 with future interest @9% p.a.; authorization to sell mortgaged property; issue of Recovery Certificate.
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: 20.07.2022 Registered on: 10.02.2023 Decided on: 07.10.2025 Duration: Y M D 03 02 17
IN THE DEBTS RECOVERY TRIBUNAL AT PUNE (Before Shri. Dilip G Murumkar, Presiding Officer) ORIGINAL APPLICATION No.145/2023
Karnataka Bank Ltd .,
A Scheduled Bank, formed and registered under the provisions of Indian Companies Act, 1913 as Banking Company, having its Registered and Head Office at P.B. No.599, Mahaveera Circle, Kankanady, Mangaluru-575 002, having its Regional Office at Mumbai & having its Branch Office at Sunshine Marks, Shop No.5&6 CTS No.4840, Near Ambedkar Chowk, Pimpri, Old Pune Mumbai High way, Pune-411 018.
.. Applicant
Versus
No. 2 & 3 R/at– S.No.127/2B/1/11, 127/2B/1/2, 127/2B/1/3 Part and 175/1A, Wakad, Pune-411 057 Also at –Flat No.202, Phase-I, Bldg.-V, Celestial City, S.No.78&86, Ravet, Aundh Road, Ravet,Pune-411 101.
.. Defendants
(OA No.145/2023)
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[ ANIL ]
APPEARANCES
For the Applicant Mr. I. C. Shetty - Advocate For Defendants Ex-parte.
TOTAL CLAIM AMOUNT –Rs.93,79,617.59Ps.
JUDGMENT
(Delivered on 7th October, 2025)
Defendant No.1 through defendant No.2 & 3 approached the applicant bank to avail Demand Promissory Loan vide Board Resolution of Defendant No.1 on 08.12.2017. Accordingly, on 06.02.2018 the applicant bank sanctioned Rs.25 Lakhs and executed required loan and security documents in favour of the applicant bank.
The defendants signed and executed loan transaction and security documents as set out in paragraph No.5.6 of the Original Application.
(OA No.145/2023)
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[ ANIL ]
The applicant Bank contended that 01.08.2019 defendant No.1 again approached the applicant Bank to avail Over Draft Limit of Rs.50,00,000/- for Working Capital Requirements. Defendant Nos.2 and 3 are the guarantors for the said loan facility.
The applicant Bank sanctioned and disbursed the Over Draft Limit of Rs.50,00,000/- to the defendants on certain terms and conditions.
Defendants signed and executed loan transaction and security documents as mentioned in paragraph No.5.8 of the Original Application.
Thereafter, the applicant Bank issued Demand Notice dated 11.11.2019 to the defendants calling upon them to pay entire dues with future interest and penal interest. Despite issuance of two Demand Notices, defendants failed and neglected to respond to said Notices.
Hence, this application is filed.
(OA No.145/2023)
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[ ANIL ]
(OA No.145/2023)
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[ ANIL ]
ORDER
(OA No.145/2023)
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[ ANIL ]
Tahsil Haveli, within the limits of Pimpri Chinchwad Municipal Corporation, District Pune.
Place : Pune Date : 07.10.2025
Sd /- (Dilip G Murumkar) Presiding Officer Debts Recovery Tribunal, Pune
(OA No.145/2023)
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[ ANIL ]
Karnataka Bank Ltd
Dilip G Murumkar
As recorded by the court registry
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