Allowed

Uco Bank v. Dattu alias Dattatraya Nagave

DRT7 Nov 2025OA/1473/2023

Case brief

AI extract

What is this about?

In an ex-parte Debt Recovery Tribunal application, the tribunal allowed the bank's claim for recovery of loan dues. The tribunal modified the future interest rate to 9% per annum, granted relief over specific loan tranches secured by land, and issued a recovery certificate.

What did the court decide?

Defendants ordered to pay principal sums of Rs.4,12,626/-, Rs.14,73,344/-, Rs.13,61,338/-, and Rs.5,89,538/- along with future interest at 9% p.a., secured by mortgaged land, and Recovery Certificate

Uco Bank versus Dattu alias Dattatraya Nagave — Banking and Recovery | DRT (2025)

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Presented on .. 25.11.2022 Registered on .. 04.11.2023 Decided on .. 07.11.2025 Duration .. Y—M—D 02--11--12

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IN THE DEBTS RECOVERY TRIBUNAL AT PUNE (Before Shri Dilip G. Murumkar, Presiding Officer) ORIGINAL APPLICATION No. 1473/2023.

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UCO Bank,

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A Corporate Body constituted under the Banking Companies (Acquisition & Transfer of Undertakings) Act 1970 and having its head office at 10, B.T.M. Sarani, Kolkata and branch at Market Yard, Indapur Road, Baramati, Taluka Baramati, District Pune.

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… Applicant

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Versus

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1 Shri Dattu @ Dattatraya Kundalik Nagave,

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Age – Adult, Occ. Agriculture, R/at – At & Post Bori, Taluka Indapur, District Pune 413 104.

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2 Shri Jagannath Arjun Dafal, Age – Adult, Occ. Agriculture, R/at – At & Post Bori, Taluka Indapur, District Pune 413 104.

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3 Shri Santosh Arjun Shinde, Age – Adult, Occ. Agriculture,

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Sanap ( OA No. 1473/2023 ) 1 of 7

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R/at – At & Post Bori, Taluka Indapur, District Pune 413 104.

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4 Shri Ganesh Dattatraya Nagave, Age – Adult, Occ. Agriculture, R/at – At & Post Bori, Taluka Indapur, District Pune 413 104.

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5 Shri Nilesh Dattatraya Nagave, Age – Adult, Occ. Agriculture, R/at – At & Post Bori, Taluka Indapur, District Pune 413 104.

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6 Shri Raju Ramchandra Devale, Age – Adult, Occ. Agriculture, R/at – At & Post Bori, Taluka Indapur, District Pune 413 104.

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… Defendants

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Appearances :- For Applicant Advocate R.B. Ganbote. For Defendants Ex parte.

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Total Claim Amount – Rs.38,51,377/-

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JUDGMENT

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(Delivered on 07^th November, 2025)

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The Applicant Bank has filed the present application for recovery of the sum of Rs.38,51,377/- together with future interest @15.9% per annum towards Term Loan, @13.60% per annum towards Term Loan, @11.45% per annum towards KCC Loan and @10.45% per annum towards Term Loan 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 applications of defendant No.1, the applicant Bank sanctioned the following loan facilities to defendant No.1.

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	Name of facility	Amount Rs.	Date of Sanction
1	Term Loan	6,12,500/-	16.09.2011
2	KCC	4,50,000/-	16.09.2011
3	Term Loan	6,50,000/-	19.09.2013
4	Term Loan	5,72,000/-	19.09.2013
5	KCC (Rescheduled)	4,87,032/-	27.05.2014
6	KCC	9,63,000/-	01.08.2014
7	Term Loan	4,99,000/-	12.07.2019

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Defendant Nos.2 and 3 stood guarantors for the repayment of Term Loan and KCC loan availed by defendant No.1. Defendant Nos.4 and 5 stood guarantors for the repayment of Two Term Loans and rescheduled KCC loan availed by defendant No.1. Defendant Nos.3 and 4 stood guarantors for the repayment of KCC loan availed by defendant No.1. Defendant Nos.4 and 6 stood guarantors for the repayment of KCC loan availed by defendant No.1.

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In order to secure the aforesaid loan facility, the defendants have executed necessary loan and security

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Sanap ( OA No. 1473/2023 ) 3 of 7

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documents in favour of the applicant Bank. Defendant No.1 has also executed E-Karar (declarative mortgage) in respect of all that piece and parcel of agriculture land bearing Gat No. 833 (P) admeasuring 2H 3R at village Bori, Taluka Indapur, District Pune, in favour of the applicant Bank.

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The defendants have also executed Acknowledgments from time to time in favour of the applicant Bank 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. Thereafter, on 09.11.2022, the applicant Bank issued legal 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 11.04.2025 passed below Application (Exhibit-1).

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Sanap ( OA No. 1473/2023 ) 4 of 7

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The applicant Bank has filed Claim Affidavit of evidence (Exhibit-6) of Shri Manoj Ambadas Panpatil, Chief Manager and Principal Officer of the applicant Bank, and has produced on record the original loan transaction documents at Sr. Nos. AW1-1 to AW1-49 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 future interest @15.9% per annum towards Term Loan, @13.60% per annum towards Term Loan, @11.45% per annum towards KCC Loan and @10.45% per annum towards Term Loan. However, considering the facts of the case, I am of the opinion that if future interest is granted @9% per annum (simple), it

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would be just and reasonable rate of interest. Hence, I pass the following order.

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O R D E R

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A} Original Application No. 1473/2023 is allowed with costs. B} Defendant Nos.1 to 3 either jointly or severally shall pay to the applicant Bank the sum of Rs.4,12,626/- (Rupees Four Lakh Twelve Thousand Six Hundred Twenty Six only) along with future interest @9% per annum from the date of filing of the Original Application i.e. 25.11.2022 till full payment/realization of the amount mentioned in this operative order.

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C} Defendant Nos.1, 4 and 5 either jointly or severally shall pay to the applicant Bank the sum of Rs.14,73,344/(Rupees Fourteen Lakhs Seventy Three Thousand Three Hundred Forty Four only) along with future interest @9% per annum from the date of filing of the Original Application i.e. 25.11.2022 till full payment/realization of the amount mentioned in this operative order.

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D} Defendant Nos.1, 3 and 4 either jointly or severally shall pay to the applicant Bank the sum of Rs.13,61,338/(Rupees Thirteen Lakhs Sixty One Thousand Three Hundred Thirty Eight only) along with future interest @9% per annum from the date of filing of the Original Application i.e. 25.11.2022 till full payment/realization of

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the amount mentioned in this operative order.

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E} Defendant Nos.1, 4 and 6 either jointly or severally shall pay to the applicant Bank the sum of Rs.5,89,538/(Rupees Five Lakhs Eighty Nine Thousand Five Hundred Thirty Eight only) along with future interest @9% per annum from the date of filing of the Original Application i.e. 25.11.2022 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 in respect of all that piece and parcel of agriculture land bearing Gat No. 833 (P) admeasuring 2H 3R at village Bori, Taluka Indapur, District Pune, more particularly described in the Para Nos. 5.8, 5.15, 5.22, 5.29 and 5.36 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.

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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 : 07.11.2025 Debts Recovery Tribunal, Pune.

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Uco Bank v. Dattu alias Dattatraya Nagave

Case brief

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Uco Bank v. Dattu alias Dattatraya Nagave

Case brief

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