Allowed

Canara Bank v. Bharat Dhokane

DRT7 Nov 2025OA/1553/2023

Case brief

AI extract

What is this about?

In this ex-parte application for recovery, the Debts Recovery Tribunal allowed the bank's claim for a housing loan of nearly Rs. 5 crore. The court directed the defendants to pay the principal and future interest at 9% p.a., while also ordering the execution of an equitable mortgage via the property they mortgaged to secure the dues.

What did the court decide?

Defendants ordered to jointly and severally pay Rs. 4,97,63,872/- with future interest at 9% p.a. The court also directed the execution of an equitable mortgage over the mortgaged property and issuanc

Canara Bank versus Bharat Dhokane — Specific Performance | DRT (2025)

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Presented on: 11.10.2022 Registered on: 18.11.2023 Decided on: 07.11.2025 Duration: Y M D 03 -- 26

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IN THE DEBTS RECOVERY TRIBUNAL AT PUNE (Before Shri Dilip G. Murumkar, Presiding Officer) ORIGINAL APPLICATION No.1553/2023.

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CANARA BANK ,

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A Body corporate constituted under the Banking Companies Acquisition and Transfer of Undertakings Act, 1970 having its Branch office at 1^st Floor, Rambaug Colony, Next to Hotel Palavi, Paud Road, Kothrud, Pune-38.

… Applicant

Versus

Mr. Bharat Pandurang Dhokane

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2. Mrs. Shubhangi Bharat Dhokane

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3. Mr. Abhinav Bharat Dhokane

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4. Miss Preetam Bharat Dhokane

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All R/at Plot No.D-112, Survey No. 235A to 18, Paru Housing Society, Lohgaon, Taluka Haveli, … Defendants District Pune-411 047.

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APPEARANCES

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For the Applicant For the Defendants

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Mr. R.B. Ganbote Ex-parte.

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TOTAL CLAIM AMOUNT –Rs.4,97,63,872/-

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JUDGMENT

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(Delivered on 7^th November, 2025)

(OA No.1553/2023)

Page 1 of 5

[ANIL]

Applicant Bank has filed present application for recovery of a sum of Rs.4,97,63,872/- [i.e. Rs.4,37,03,110/- towards Housing Loan Account No. 2410619000001 & Rs.60,60,762/- towards upgradation and amenities Loan Account No. 2410619000001] together with future floating interest @09.45% p.a. with monthly rests respectively from the date of filing application i.e. 11.10.2022 till actual realization of the entire amount from the defendants.

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Brief facts of the application are as under:-

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Defendant Nos.1 to 4 approached to the Applicant Bank on 06.09.2017 to avail Housing Loan of Rs.4,34,00,000/( i.e. Rs.3,75,00,000/- for purchase of Bungalow and Rs.59,00,000/for up-gradation and additional of amenities).

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Applicant Bank considered the request of Defendants and sanctioned Rs.3,75,00,000/- for purchase of bungalow and Rs.59,00,000/- for up-gradation and additional of amenities, on certain terms and conditions, which they have accepted.

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In order to secure the Housing Loan facility, Defendants have executed necessary loan transaction and security documents, in favour of the Applicant Bank, as set out in Para No.5.5 & 5.6 of the Original Application.

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Defendant No.1 & 2 have also created Equitable Mortgage in favour of the applicant bank by executing Letter Evidencing Deposit of Title Deeds on 19.07.2018 and mortgaged the below mentioned

(OA No.1553/2023)

Page 2 of 5

[ANIL]

properties for securing the aggregate credit facility of Rs.4,34,00,000/-. Description of Property - i.e. all the piece and parcel of plot No.D-112 admeasuring 350.625 sq. mtrs. along with bungalow standing thereon admeasuring 317.29 sq. mtrs out of Survey No.235/A 4 to 18 in Puru Co-operative Housing Society, village Lohgaon, Taluka Haveli, within the limits of Pune Municipal Corporation and also within the limits of Registration District Pune, Sub Registration District Haveli, District Pune, more particularly described in Para No.5.8 of the Original Application.

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It is further contended that defendant Nos.1 to 4 have availed the Housing Loan Facility from the applicant bank as per their requirement and exigencies from time to time, however defendants have failed to pay the installments on time and committed breach of the sanction terms, therefore, the account of Defendant Nos.1 to 4 with the applicant bank turned Non-Performing Asset as per Reserve Bank of India guidelines.

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The Applicant Bank issued Notice U/s 13(2) of the SARFAESI Act on 30.05.2022. However, Defendant Nos.1 to 4 have failed to close the account or regularize the account of the defendants with applicant bank. Hence, this application is filed.

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Defendants failed to appear despite service of summons. Hence, the application proceeded ex-parte against him vide Order dt.08.04.2025 passed below Application (Exhibit-01).

(OA No.1553/2023)

Page 3 of 5

[ANIL]

Applicant Bank filed Claim Affidavit of evidence (Exhibit-6) of Mr. Rishiraj Bhosale, Manager, which supports the case of the Applicant Bank elucidated in the application.

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Applicant Bank has produced in evidence original loan documents at Sr. Nos. 1 to 10, which corroborate the case of the Applicant Bank.

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I 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 reliefs as claimed.

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The Applicant Bank has claimed future interest @9.45% p.a. for Housing Account. Considering the facts of the present case, I am of the opinion that if future interest is granted @9% p.a. (simple) for the loan availed, it would be just and reasonable.

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10 Hence, I pass the following order: -

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ORDER

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(A) Original Application No.1553/2023 is allowed with costs.

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(B) Defendant Nos.1 to 4 jointly or severally shall pay to the Applicant Bank Rs.4,97,63,872/- (Rupees Four Crores Ninety-Seven Lakhs Sixty-Three Thousand Eight Hundred Seventy-Two only) towards Housing Loan with future interest @9% p.a. (Simple) from the date of filing of the Original Application i.e.11.10.2022 till payment/ realization of the amount mentioned in this operative order.

(OA No.1553/2023)

Page 4 of 5

[ANIL]

(C) The aforesaid adjudicated amount is secured by executing Equitable Mortgage of the immovable property i.e. all the piece and parcel of plot No.D-112 admeasuring 350.625 sq. mtrs. along with bungalow standing thereon admeasuring 317.29 sq. mtrs out of Survey No.235/A 4 to 18 in Puru Co-operative Housing Society, at Village Lohgaon, Taluka Haveli, within the limits of Pune Municipal Corporation and also within the limits of Registration District Pune, Sub Registration District Haveli, District Pune, more particularly described in Para No.5.8 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. (F) The Registrar is directed to send the copy of Judgment and Recovery Certificate to the Applicant and Defendants.

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Sd/Place: Pune (Dilip G. Murumkar) Date: 07.11.2025 Presiding Officer, Debts Recovery Tribunal, Pune.

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(OA No.1553/2023)

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Page 5 of 5

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[ANIL]

Canara Bank v. Bharat Dhokane

Case brief

What is this about?

What did the court decide?

Canara Bank v. Bharat Dhokane

Case brief

What is this about?

What did the court decide?

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