Allowed

Punjab National Bank v. Dnyaneshwar Mohan Pathare

DRT19 Sept 2025OA/164/2024

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed an applicant bank's recovery application against a defendant who defaulted on a Kisan Gold Card facility. The bank claimed principal, interest, and charge over mortgaged properties due to the defendant's failure to repay.

What did the court decide?

Recovery of Rs. 28,49,397 with future interest at 8% per annum (simple) and permission to sell mortgaged properties.

Punjab National Bank versus Dnyaneshwar Mohan Pathare — Execution and Attachment | DRT (2025)

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Presented on: 01.06.2023 Registered on: 08.03.2024 Decided on: 19.09.2025 Duration: Y M D 02 03 18

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IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 164/2024

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TOTAL CLAIM AMOUNT – Rs. 28,49,397/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. Rahul s/o Nathaji Potphode (Senior Manager), Age: 36 yrs, Occ.: Service, R/o.: Ghogargaon, Tq. … Applicant Shirgonda, Dist. Ahmednagar 414001.

Versus

(OA No.164/2024)

Page 1 of 11

[AMBADAS]

Mr. Dnyaneshwar Mohan Pathare Age: Major, Occu.: Agriculture, R/o.: At 211, Kakade Pathare, Wasti, Banpimpri, Post Mandavgaon, Tq. Shrigonda, Dist. Ahmednagar 414401. AND/OR Mr. Dnyaneshwar Mohan Pathare Age: Major, Occu.: Agriculture, R/o.: At Gut No. 342, Village Banpimpri Tq. Shrigonda, Dist. Ahmednagar 414401. AND/OR Mr. Dnyaneshwar Mohan Pathare Age: Major, Occu.: Agriculture, R/o.: At Gut No. 768,822,834, Mandavgaon, …Defendant Tq. Shrigonda, Dist. Ahmednagar 414401.

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APPEARANCES

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

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JUDGMENT Delivered on 19.09.2025

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The Applicant Bank has filed the present application for the

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recovery of a sum of Rs. 28,49,397/- ( Rupees Twenty Eight Lacs, Forty Nine Thousand, Three Hundred and Ninety Seven only), along with future interest from the date of filing of the Original

(OA No.164/2024)

Page 2 of 11

[AMBADAS]

Application, i.e., 01.06.2023, until the date of realization of the entire outstanding dues from the Defendant.

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Brief facts of the application are as under:

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The Applicant Bank states that the Defendant had approached and requested the Applicant Bank for Kisan Gold Card Facility. Upon considering the request and financial needs of the Defendant, the Applicant Bank sanctioned a Kisan Gold Card Facility of Rs. 3,00,000/- vide sanction letter dated 13.10.2014 on certain terms and conditions. Thereafter the defendant again approached to the applicant bank for renewal & enhancement of the said credit facility and upon considering the request of the defendant, the applicant bank pleased to renew & enhance the said credit facility to the extent of Rs. 6,00,000/- on 10.11.2015 on certain terms and conditions.

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The applicant bank further states that the defendant again approached the applicant bank for renewal & enhancement of the

(OA No.164/2024)

Page 3 of 11

[AMBADAS]

said credit facility. Upon considering the request of the defendant,

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the applicant bank pleased to renew & enhance the said credit facility to the extent of Rs. 20,00,000/- vide sanction letter dated 30.04.2019 on certain terms and conditions. The agreed rate of interest for the aforesaid loan was @ 11.60% 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 Defendant executed various loan documents in favour of the Applicant Bank. These included sanction letters, letters of undertaking, registered mortgage deed bearing daybook nos. 4553 and 522 dated 09.11.2015 and 02.02.2019 & 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 facilities, the Defendant created first charge over

(OA No.164/2024)

Page 4 of 11

[AMBADAS]

his immovable property under daybook nos. 4553 and 522 dated

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09.11.2015 and 02.02.2019 in favour of the Applicant Bank. The

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mortgage was created in respect of the following properties:

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All that piece and parcel of agricultural land admeasuring 0 H 40 R, out of Gut No. 342, situated at village Banpimrpi, Tq. Shrigonda, Dist. Ahmednagar which is bounded as under:

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East: Gut No. 342 (P) West: Gut No. 343 South: Road North: Gut No. 435.

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All that piece and parcel of agricultural land admeasuring 0 H 64 R, Pot Kharab 0 H 01 R, totally admeasuring 0 H 65 R, out of Gut No. 834, situated at village Mandavgaon, Tq. Shrigonda, Dist. Ahmednagar which is bounded as under:

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East: Gut No. 831 West: Road South: Gut No. 834 (P) North: Gut No. 881.

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All that piece and parcel of agricultural land admeasuring 0 H 67 R, Pot Kharab 0 H 13 R, totally admeasuring 0 H 80 R, out of Gut No. 822, situated at village Mandavgaon, Tq. Shrigonda, Dist. Ahmednagar which is bounded as under:

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East: Gut No. 822 (P) West: Gut No. 889, South: Gut No. 821,

(OA No.164/2024)

Page 5 of 11

[AMBADAS]

North: Pond.

All that piece and parcel of agricultural land admeasuring 0 H 16 R, Pot Kharab 0 H 03 R, totally admeasuring 0 H 19 R, out of Gut No. 768, situated at village Mandavgaon, Tq. Shrigonda, Dist. Ahmednagar, which is bounded as under:

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East: Road, West: Gut No. 767, South: Gut No. 768 (P) North: Road.

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The applicant bank contended that the defendant has failed to keep his promise and commitments agreed by him with regard to due repayment of the loan amount. The defendant 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 defendant to pay with the agreed rate of interest thereon, but the defendant failed and neglected to pay the same. The loan account of the defendant became irregular and classified as NPA on 01.10.2022. Therefore on 19.12.2022 the applicant bank issued legal notice to the defendant through their advocate. Despite service of Notices, the defendant failed and

(OA No.164/2024)

Page 6 of 11

[AMBADAS]

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

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The defendant failed to appear in matter though he was served through Court Commissioner. Hence, the defendant was proceeded ex-parte as per Order dated 05.02.2025.

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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-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 defendant 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.164/2024)

Page 7 of 11

[AMBADAS]

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

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The applicant Bank has claimed future interest @9 % 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 @ 8 % 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. 164/2024 is allowed with costs.

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(B) The defendant shall pay to the applicant Bank a sum of Rs. 28,49,397/- ( Rupees Twenty Eight Lacs, Forty Nine Thousand, Three Hundred and Ninety Seven only), along with future interest @ 8 % per annum (simple) on outstanding amount from the date of filing of the O.A. i.e.

(OA No.164/2024)

Page 8 of 11

[AMBADAS]

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 nos. 4553 and 522 vide registered mortgage deed dated 09.11.2015 and 02.02.2019 at Exh

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A-5 & A-10 in list of documents Exh. 5.

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All that piece and parcel of agricultural land admeasuring 0 H 40 R, out of Gut No. 342, situated at village Banpimrpi, Tq. Shrigonda, Dist. Ahmednagar which is bounded as under:

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East: Gut No. 342 (P) West: Gut No. 343 South: Road North: Gut No. 435.

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All that piece and parcel of agricultural land admeasuring 0 H 64 R, Pot Kharab 0 H 01 R, totally admeasuring 0 H 65 R, out of Gut No. 834, situated at village Mandavgaon, Tq. Shrigonda, Dist. Ahmednagar which is bounded as under:

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East: Gut No. 831 West: Road South: Gut No. 834 (P) North: Gut No. 881.

(OA No.164/2024)

Page 9 of 11

[AMBADAS]

All that piece and parcel of agricultural land admeasuring 0 H 67 R, Pot Kharab 0 H 13 R, totally admeasuring 0 H 80 R, out of Gut No. 822, situated at village Mandavgaon, Tq. Shrigonda, Dist. Ahmednagar which is bounded as under:

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East: Gut No. 822 (P) West: Gut No. 889, South: Gut No. 821, North: Pond.

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All that piece and parcel of agricultural land admeasuring 0 H 16 R, Pot Kharab 0 H 03 R, totally admeasuring 0 H 19 R, out of Gut No. 768, situated at village Mandavgaon, Tq. Shrigonda, Dist. Ahmednagar, which is bounded as under:

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East: Road, West: Gut No. 767, South: Gut No. 768 (P) 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)

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(E) Issue Recovery Certificate accordingly.

(OA No.164/2024)

Page 10 of 11

[AMBADAS]

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

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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. Place: Aurangabad Date:.19.09.2025

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(Dr. J. R. Chauhan) Presiding Officer Debts Recovery Tribunal, Aurangabad

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(OA No.164/2024)

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Page 11 of 11

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[AMBADAS]

Punjab National Bank v. Dnyaneshwar Mohan Pathare

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. Dnyaneshwar Mohan Pathare

Case brief

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What did the court decide?

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