Allowed

Canara Bank v. Haider Amir Jakate

DRT22 Sept 2025OA/150/2023

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal at Aurangabad allowed an original application filed by Canara Bank for recovery of Rs. 22,80,858/- along with future interest against defaulting borrowers. The court granted future interest at 9% p.a. and directed the sale of mortgaged properties for realization.

What did the court decide?

Recovery of Rs. 22,80,858/- with future interest at 9% p.a. from 10.06.2023; direction to sell mortgaged properties.

Canara Bank versus Haider Amir Jakate — Banking and Recovery | DRT (2025)

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Presented on: 10.06.2023 Registered on: 18.07.2023 Decided on: 22.09.2025 Duration: Y M D 02 03 12

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IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 150/2023

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TOTAL CLAIM AMOUNT – Rs. 22,80,858/-

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CANARA BANK,

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A Body Corporate constituted under the Banking companies (Acquisition and Transfer of Undertaking) Act, 1970 & Having its Head Office at S P & D Wing, Head Office, 112 J C Road, Bengaluru, and having branches amongst the other places at Shrigonda, Tq. Shrigonda, Dist. Ahmednagar, through its Authorized Person, Mr. Vivek s/o Bhagwat Pawar (Senior Manager), Age: 36 yrs., Occ.; Service, R/o. Shrigonda, Tq. Shrigonda, Dist. Ahmednagar.

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… Applicant

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Versus

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1. Mr. Haider Amir Jakate Age: Major, Occ.: Agriculture, R/o.: At Jakate Vasti, Tq. Shrigonda, Dist. Ahmednagar-413702.

(OA No.150/2023)

Page 1 of 9

[AMBADAS]

AND/OR Mr. Haider Amir Jakate Age: Major, Occ.: Agriculture, R/o.: At Gut No. 2146 & 2148 Tq. Shrigonda, Dist. Ahmednagar-413702.

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2. Smt. Meherunnisa Haider Jakate Age: Major, Occ.: Agriculture, R/o.: At Jakate Vasti, Tq. Shrigonda, Dist. Ahmednagar-413702.

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…Defendants

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APPEARANCES

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For the Applicant Mr. K. D. Pande -Advocate For Defendants Ex-parte

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JUDGMENT

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Delivered on 22.09.2025

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The Applicant Bank has filed the present application for the recovery of a sum of Rs. 22,80,858/- (Rupees Twenty Two Lacs, Eighty Thousand, Eight Hundred and Fifty Eight only), along with future interest from the date of filing of the Original Application, i.e., 10.06.2023, until the date of realization of the entire outstanding dues from the Defendants.

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Brief facts of the application are as under:

(OA No.150/2023)

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[AMBADAS]

The Applicant Bank states that the Defendant Nos. 1 & 2 approached and requested the Applicant Bank for a Term loan facility. Upon considering the request and financial needs of the Defendants, the Applicant Bank sanctioned Term loan facility of Rs. 10,00,000/-, vide sanction letter dated 04.07.2015 on certain terms and conditions. The agreed rate of interest for the aforesaid loan facility was @12% p.a. with half yearly rests. The Defendant also agreed to pay additional interest @2% by way of liquidated damages in the event of any default in repayment.

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In order to secure the aforesaid loan facilities, the Defendants executed various loan documents in favour of the Applicant Bank. These included sanction letter, registered mortgage deed bearing daybook no. 2862 dated 06.07.2015, & hypothecation agreement etc., in favour of the Applicant Bank.

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The Applicant Bank further contends that, in order to secure the aforesaid loan facility, the Defendants created first charge over

(OA No.150/2023)

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[AMBADAS]

their immovable properties under daybook no. 2862 dated

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06.07.2015 in favour of the Applicant Bank. The mortgage was

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created in respect of the following properties-

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i) All that piece and parcel of agricultural land admeasuring 0 H 06 R out of Gut No. 2146, situated at Village Shrigonda, Tq. Shrigonda, Dist. Ahmednagar, which is bounded as under:

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East: Gut No. 2144, 2145, West: Gut No. 2147, South: Gut No. 2147, North: Gut No. 2164.

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ii) All that piece and parcel of agricultural land admeasuring 1 H 40 R out of Gut No. 2147, situated at Village Shrigonda, Tq. Shrigonda, Dist. Ahmednagar, which is bounded as under:

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East: Gut No. 2103, 2146, West: Gut No. 2151, South: Gut No. 2149, North: Gut No. 2164.

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iii) All that piece and parcel of agricultural land admeasuring 0 H 02 R out of Gut No. 2148, situated at Village Shrigonda, Tq. Shrigonda, Dist. Ahmednagar, which is bounded as under:

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East: Gut No. 2147, West: Gut No. 2147, South: Gut No. 2147, North: Gut No. 2147.

(OA No.150/2023)

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[AMBADAS]

The applicant bank further states that in order to secure the aforesaid loan facility, the defendants also executed hypothecation agreement thereby hypothecating all borrowers’ present and future crop whatsoever and wherever raised or to be raised including standing crops on the land.

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The applicant bank contended that the defendants have failed to keep their promise and commitments agreed by them with regard to due repayment of the loan amount. The defendants failed to operate the loan account properly and failed to pay the agreed rate of interest as per terms and conditions of the sanction letter. Thereafter, the applicant bank repeatedly made demand of loan amount and called upon the defendants to pay with the agreed rate of interest thereon, but the defendants failed and neglected to pay the same. The loan account of the defendants became irregular and classified as NPA on 13.07.2018. Therefore, on 17.12.2022 the applicant bank issued legal notice to the defendants through their advocate. Despite service of Notices, the

(OA No.150/2023)

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[AMBADAS]

defendants failed and neglected to repay the outstanding dues of the applicant Bank. Hence, this application is filed.

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The defendants failed to appear in matter though they were duly served. Hence, the defendants were proceeded ex-parte as per Order dated 06.03.2024.

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The applicant Bank has filed Claim Affidavit of evidence at Exhibit-4 of Vivek s/o Bhagwat Pawar, Senior Manager of the applicant Bank, and has produced on record the original loan transaction documents as Exh. A-1 to A-15 along with list of documents Exh.5 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 unrebutted evidence of the applicant Bank. Therefore, the applicant Bank is entitled for the reliefs as claimed.

(OA No.150/2023)

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[AMBADAS]

The applicant Bank has claimed charge over immovable properties of the borrowers which are mortgaged in favour of the applicant bank.

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The applicant Bank has claimed future interest @11 % p.a. from the date of filing i.e. 10.06.2023 of this application till realization of the claim amount. However, considering the facts of the case, I am of the opinion that if future interest is granted @ 9% per annum (simple), on outstanding amount it would be just and reasonable rate of interest.

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ORDER

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(A) Original Application No. 150/2023 is allowed with

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costs.

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(B) The defendants shall pay jointly and severally to the applicant Bank a sum of Rs. 22,80,858/- (Rupees Twenty Two Lacs, Eighty Thousand, Eight Hundred and Fifty Eight only), along with future interest @ 9% per annum (simple) on outstanding amount from the date of filing of the Original Application i.e. 10.06.2023 till full

(OA No.150/2023)

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[AMBADAS]

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

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mortgage of the following immovable property bearing daybook no. 2862 vide registered mortgage deed dated

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06.07.2015 at Exh. A-8 in list of documents Exh. 5.

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i) All that piece and parcel of agricultural land admeasuring 0 H 06 R out of Gut No. 2146, situated at Village Shrigonda, Tq. Shrigonda, Dist. Ahmednagar, which is bounded as under:

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East: Gut No. 2144, 2145, West: Gut No. 2147, South: Gut No. 2147, North: Gut No. 2164.

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ii) All that piece and parcel of agricultural land admeasuring 1 H 40 R out of Gut No. 2147, situated at Village Shrigonda, Tq. Shrigonda, Dist. Ahmednagar, which is bounded as under:

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East: Gut No. 2103, 2146, West: Gut No. 2151, South: Gut No. 2149, North: Gut No. 2164.

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iii) All that piece and parcel of agricultural land admeasuring 0 H 02 R out of Gut No. 2148, situated at

(OA No.150/2023)

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[AMBADAS]

Village Shrigonda, Tq. Shrigonda, Dist. Ahmednagar, which is bounded as under: