Allowed

Punjab National Bank v. Bhagchand Rambhau Pandule

DRT6 Nov 2025OA/160/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an application filed by Punjab National Bank for recovery of Rs. 48,08,648 against defaulting borrowers. The court, noting the defendants' default and failure to appear, decreed payment with future interest at 9% p.a. and granted the bank's right to sell mortgaged properties.

What did the court decide?

Recovery of Rs. 48,08,648 plus future interest at 9% p.a. (simple); execution against mortgaged properties.

Punjab National Bank versus Bhagchand Rambhau… — Contract and Commercial Disputes | DRT (2025)

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Presented on: 01.06.2023 Registered on: 06.03.2024 Decided on: 06.11.2025 Duration: Y M D 02 05 05

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IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 160/2024

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TOTAL CLAIM AMOUNT – Rs. 48,08,648/Punjab National Bank, A Body Corporate constituted under the Banking companies (Acquisition and Transfer of Undertakings) Act 1970 & having it’s Head Office at Plot No. 4, Sector-10, Dwarka, New Delhi-110075, having branches amongst the other places at Ghogargaon, Tq. Shirgonda, Dist. Ahmednagar through it’s POA, Mr.

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Rahul s/o Nathaji Potphode (Senior Manager), Age: 36 yrs., Occ.: Service, R/o.: Ghogargaon, Tq. Shirgonda, Dist. Ahmednagar 414001.

… Applicant

(OA No.160/2024)

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[AMBADAS]

Versus

1. Mr. Bhagchand Rambhau Pandule, Age: Major, Occ.: Agri.., R/o.: At Pandule Niwas, Thitte Sangavi Road, Hadola, Nimgaon Gangarde, Tq. Karjat, Dist. Ahmednagar 414102. AND/OR Mr. Bhagchand Rambhau Pandule, Age: Major, Occ.: Agri.., R/o.: At Gat No. 184/3 & Gat No. 185/1, Nimgaon Gangarde, Tq. Karjat, Dist. Ahmednagar 414102.

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2. Smt. Heerabai Bhagchand Pandule Age: Major, Occ.: Agri., R/o.: At Pandule Niwas, Thitte Sangavi Road, Hadola, Nimgaon Gangarde, Tq. Karjat, Dist. Ahmednagar 414102. AND/OR Smt. Heerabai Bhagchand Pandule Age: Major, Occ.: Agri.., R/o.: At Gat No. 184/3 & Gat No. 185/1, Nimgaon Gangarde, Tq. Karjat, Dist. Ahmednagar 414102.

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…Defendants

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APPEARANCES

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For the Applicant For Defendants

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Mr. K. D. Pande -Advocate Ex-parte

(OA No.160/2024)

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[AMBADAS]

JUDGMENT Delivered on 06.11.2025

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The Applicant Bank has filed the present application for the

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recovery of a sum of Rs. 48,08,648/- (Rupees Forty Eight Lacs, Eight Thousand, Six Hundred and Forty Eight only), along with future interest from the date of filing of the Original Application, i.e.,

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01.06.2023, until the date of realization of the entire outstanding

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dues from the Defendants.

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Brief facts of the application are as under:

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The Applicant Bank states that the Defendant No. 1 & 2 had approached and requested the Applicant Bank for Term Loan Facility. Upon considering the request and financial needs of the Defendants, the Applicant Bank sanctioned Term Loan Facility of Rs. 40,00,000/- vide sanction letter dated 03.05.2019 on certain terms and conditions. The agreed rate of interest for the aforesaid

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loan was @ 11.20 % p.a. with half yearly rests. The Defendants

(OA No.160/2024)

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[AMBADAS]

also agreed to pay additional interest @2% by way of liquidated

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damages in the event of any default in repayment.

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In order to secure the aforesaid loan facility, the Defendants executed various loan documents in favour of the Applicant Bank. These included sanction letter, letter of undertaking, registered mortgage deed bearing daybook no. 1310 dated 03.05.2019 & hypothecation agreement 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 Defendant No. 1 & 2 created first charge over their immovable properties under daybook no. 1310 dated 03.05.2019 in favour of the Applicant Bank. The mortgage was

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created in respect of the following properties:

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A. Properties belonging to Smt. Heerabai Bhagchand Pandule:

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i) All that piece and parcel of Non-Agricultural Industrial land admeasuring 0 H 59 R, out of Survey No. 138, situated at village Nimgaon Gangarda, Tq. Karjat, Dist. Ahemdnagar, which is bounded as under:

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East: Woda, West: Sr. No. 137,

(OA No.160/2024)

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[AMBADAS]

South: Sr. No. 139, North: Sr. No. 144.

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ii) All that piece and parcel of Agricultural admeasuring 1 H 47 R, Potkharab 0 H 21 R, totally admeasuring 1 H 68 R, out of Survey No. 139, situated at village Nimgaon Gangarda, Tq. Karjat, Dist. Ahemdnagar, which is bounded as under:

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East: Sr. No. 138, West: Sr. No. 136, South: Sr. No. 162, North: Sr. No. 140.

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iii) All that piece and parcel of Agricultural admeasuring 0 H 51 R, Potkharab 0 H 02 R, totally admeasuring 0H 53 R, out of Survey No. 184/3, situated at village Nimgaon Gangarda, Tq. Karjat, Dist. Ahemdnagar, which is bounded as under:

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East: Sr. No. 184/3, West: Sr. No. 186/1, South: Sr. No. 183/1, North: Self.

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iv) All that piece and parcel of Agricultural admeasuring 0 H 53 R, Potkharab 0 H 03 R, totally admeasuring 0 H 56 R, out of Survey No. 185/1, situated at village Nimgaon Gangarda, Tq. Karjat, Dist. Ahemdnagar, which is bounded as under:

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East: Sr. No. 185/3, West: Sr. No. 186/1, South: Sr. No. 184/3, North: Self.

(OA No.160/2024)

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[AMBADAS]

v) All that piece and parcel of Agricultural admeasuring 0 H 32 R, out of Survey No. 186/1, situated at village Nimgaon Gangarda, Tq. Karjat, Dist. Ahemdnagar, which is bounded as under:

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East: Sr. No. 187/1, West: Sr. No. 174/3, South: Sr. No. 175, North: Sr. No. 184.

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vi) All that piece and parcel of Wall admeasuring 0 H 02 R, out of Survey No. 227/5, situated at village Nimgaon Gangarda, Tq. Karjat, Dist. Ahemdnagar, which is bounded as under:

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East: Property of Mr. Bharu Gangarde, West: Sr. No. 227/5, South: Sr. No. 227/4, North: Road. B. Properties belonging to Mr. Bhagchand Rambhau Pandule:

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i) All that piece and parcel of Agricultural admeasuring 1 H 44 R, Potkharab 0 H 07 R, totally admeasuring 01 H 51 R, out of Survey No. 184/3, situated at village Nimgaon Gangarda, Tq. Karjat, Dist. Ahemdnagar, which is bounded as under:

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East: Sr. No. 185/1, West: Sr. No. 186/1, South: Sr. No. 183/1, North: Road.

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ii) All that piece and parcel of Agricultural admeasuring 0 H 98 R, Potkharab 0 H 05 R, totally admeasuring 01 H 03 R, out of Survey No. 185/1, situated at village Nimgaon Gangarda, Tq. Karjat, Dist. Ahemdnagar, which is bounded as under:

(OA No.160/2024)

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[AMBADAS]

East: Sr. No. 188, West: Sr. No. 186/1, South: Sr. No. 184/1, North: Road.

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iii) All that piece and parcel of Agricultural admeasuring 0 H 10 R, out of Survey No. 227/4, situated at village Nimgaon Gangarda, Tq. Karjat, Dist. Ahemdnagar, which is bounded as under:

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East: Property of Mr. Balasaheb Satale West: Road, South: Self, North: Road.

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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 30.09.2022. Therefore on

(OA No.160/2024)

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[AMBADAS]

19.12.2022 the applicant bank issued legal notice to the 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.

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The defendants failed to appear in matter though they were served through court commissioner. Hence, the defendants were proceeded ex-parte as per Order dated 09.05.2025.

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The applicant Bank has filed Claim Affidavit of evidence at Exhibit-4 of Mr. Rahul s/o. Nathaji Potphode, Power of Attorney Holder of the applicant Bank, and has produced on record the original loan transaction documents as Exh. A-1 to A-8 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

(OA No.160/2024)

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[AMBADAS]

applicant Bank. Therefore, the applicant Bank is entitled for the reliefs as claimed.

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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 @11.20% p. a. from the date of filing i.e. 01.06.2023 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), it would be just and reasonable rate of interest.

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ORDER

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(A) Original Application No. 160/2024 is allowed with costs.

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(B)

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(B) The defendant shall pay jointly and severally to the applicant Bank a sum of Rs. 48,08,648/- (Rupees Forty Eight Lacs, Eight Thousand, Six Hundred and Forty Eight

(OA No.160/2024)

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[AMBADAS]

only), along with future interest @ 9% per annum (simple) from the date of filing of the O.A. i.e. 01.06.2023 till full payment/realization of the amount mentioned in this operative order.

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(C) The aforesaid adjudicated amount is secured by the mortgage of the following immovable properties bearing daybook no. 1310 vide simple registered mortgage deed dated 03.05.2019 at Exh A-4 in list of documents Exh. 5.

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A. Properties belonging to Smt. Heerabai Bhagchand Pandule:

(OA No.160/2024)

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[AMBADAS]

East: Sr. No. 138, West: Sr. No. 136, South: Sr. No. 162, North: Sr. No. 140.

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v) All that piece and parcel of Agricultural admeasuring 0 H 32 R, out of Survey No. 186/1, situated at village Nimgaon Gangarda, Tq. Karjat, Dist. Ahemdnagar, which is bounded as under: East: Sr. No. 187/1, West: Sr. No. 174/3, South: Sr. No. 175, North: Sr. No. 184.

(OA No.160/2024)

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[AMBADAS]

vi) All that piece and parcel of Wall admeasuring 0 H 02 R, out of Survey No. 227/5, situated at village Nimgaon Gangarda, Tq. Karjat, Dist. Ahemdnagar, which is bounded as under: East: Property of Mr. Bharu Gangarde, West: Sr. No. 227/5, South: Sr. No. 227/4, North: Road.

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B. Properties belonging to Mr. Bhagchand Rambhau Pandule:

(OA No.160/2024)

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[AMBADAS]

iii) All that piece and parcel of Agricultural admeasuring 0 H 10 R, out of Survey No. 227/4, situated at village Nimgaon Gangarda, Tq. Karjat, Dist. Ahemdnagar, which is bounded as under:

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East: Property of Mr. Balasaheb Satale West: Road, South: Self, North: Road.

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(D) The applicant Bank is entitled to sell the mortgaged immovable properties and hypothecated articles/goods etc., to recover its dues.

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(E) Issue Recovery Certificate accordingly.

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(F) The Registrar is directed to send the copy of the Judgment and Recovery Certificate to the applicant and defendants.

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(G) File be consigned to the record room.

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Sd/-

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Pronounced in open court. (Dr. J. R. Chauhan) Place: Aurangabad Presiding Officer Date:.06.11.2025 Debts Recovery Tribunal, Aurangabad

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(OA No.160/2024)

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[AMBADAS]

Punjab National Bank v. Bhagchand Rambhau Pandule

Case brief

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Punjab National Bank v. Bhagchand Rambhau Pandule

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