Allowed

Union Bank of India v. Balaji Nivrutti Ankush

DRT13 Oct 2025OA/169/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the bank's application to recover a loan principal amount and awarded future interest at a reduced rate, while enforcing the bank's charge over the mortgaged immovable properties given the default by the borrowers.

What did the court decide?

Ordered payment of Rs. 28,88,902/- plus future interest at 7% p.a.; mortgage of land and flat to secure dues; directed sale of mortgaged properties and issuance of Recovery Certificate.

Union Bank of India versus Balaji Nivrutti Ankush — Contract and Commercial Disputes | DRT (2025)

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Presented on: 25.01.2023 Registered on: 29.11.2023 Decided on: 13.10.2025 Duration: Y M D 02 08 18

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IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 169/2023

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TOTAL CLAIM AMOUNT – Rs. 28,88,902/-

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Union Bank of India,

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A body corporate constituted under the Banking Companies (Acquisition & Transfer of Undertakings) Act V, 1970 having its Head Office at 239, Backbay Reclamation Bombay 40021 and one of its Branch at CIDCO Branch, Taluka and District Aurangabad and acting through its power of Attorney Holder and one its Chief Manager, Mrs. Sadhana Babasaheb Sanap, Age: Major years, Occupation: Service as Chief Manager, Union Bank of India, Assets Recovery Branch, 28/29, Hajari Chamber, Station Road, Friends Colony, Dist. Aurangabad, and having authority to file … Applicant the application which includes the authority to sign and verify the application.

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Versus

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1. Balaji Niyrati Ankush, Age: 44 years, Occupation: Builder,

(OA No.169/2023)

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[AMBADAS]

Flat No. BB-6, on Stilt First Floor, Deogiri Vrindavan-Building, BB, Gut No. 136, Satara, Beed by Pass road, Aurangabad.

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And

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Balaji Niyrati Ankush, Age: 44 years, Occupation: Builder, A-32, Disha Gharkul, Gut No. 136/P, Deolai Road, Satara Parisar, Aurangabad.

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And

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Balaji Niyrati Ankush,

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Age: 44 years, Occupation: Builder, A-15, Shree Krishna Nagari, Gut No. 81/P, Deolai Road, Beed by pass, Aurangabad.

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2. Rajashri Balaji Ankush,

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Age: 34 years, Occupation: House wife, Flat No. BB-6, on Stilt First Floor, Deogiri Vrindavan-Building, BB, Gut No. 136, Satara, Beed by Pass road, Aurangabad. And

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Rajashri Balaji Ankush,

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Age: 34 years, Occupation: House wife, A-32, Disha Gharkul, Gut No. 136/P, Deolai Road, Satara Parisar, Aurangabad.

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And

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Rajashri Balaji Ankush,

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Age: 34 years, Occupation: House wife, 43-3-663, Alok Nagar, Satara Parisar, Satara Tanda, Aurangabad.

…Defendants

(OA No.169/2023)

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[AMBADAS]

APPEARANCES

For the Applicant For Defendants

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Mr. Kulkarni Vivek B -Advocate Ex-parte

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JUDGMENT

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Delivered on 13.10.2025

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The Applicant Bank has filed the present application for the

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recovery of a sum of Rs. 28,88,902/- (Rupees Twenty Eight Lacs, Eighty Eight Thousand, Nine Hundred and Two only), along with future interest from the date of filing of the Original Application, i.e., 25.01.2023, 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:

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The Applicant Bank states that the Defendant No. 1 & 2 approached and requested the Applicant Bank for Home loan facility. Upon considering the request and financial needs of the Defendants, the Applicant Bank sanctioned Term loan facility of Rs. 26,00,000/- vide sanction letter dated 28.02.2019 on certain

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terms and conditions. The agreed rate of interest for the Term

(OA No.169/2023)

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[AMBADAS]

loan was @8.80% p.a. with monthly rests. The Defendants also

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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 continuity, sale deed No. AGG-5-2527-2019 dated 07.06.2019, housing loan agreement, letter of undertaking, demand promissory note, & hypothecation

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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 their immovable property by executing sale deed No. AGG-52527-2019 dated 07.06.2019 in favour of the Applicant Bank. The

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mortgage was created in respect of the following properties-

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i) All that piece and parcel of NA Land admeasuring 40 R, part of Gut No. 136, of village Satara, Tq. And Dist. Aurangabad, which is bounded as under:

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East: Compound wall of the project,

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West: Road and remaining land of the project,

(OA No.169/2023)

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[AMBADAS]

South: ‘D’ Building, North: ‘BA’ Wing.

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ii) All that piece and parcel of residential Flat BB-06 having carpet area, admeasuring 48.86 sq. mtrs., Stilt First Floor, Wing-in the Building known as ‘DEOGIRI VRINDAVAN Building BB’ constructed on NA land admeasuring 40 R, part of Gut No. 136, of village Satara, Tq. And Dist. Aurangabad, which is bounded as under: East: Side Margin West: Staircase, Duct & Flat No. BB-07, South: ‘D’ Building, North: Flat No. BB-05.

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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 29.01.2022. Therefore, on 05.11.2022 the applicant bank issued legal notice to the

(OA No.169/2023)

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[AMBADAS]

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 summons. Hence, the defendants were proceeded ex-parte as per Order dated 16.04.2024.

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The applicant Bank has filed Claim Affidavit of evidence at Exhibit-4 of Sadhana Babasaheb Sanap, Chief Manager of the applicant Bank, and has produced on record the original loan transaction documents as Annexure 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

(OA No.169/2023)

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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 @8.80% p. a. from the date of filing i.e. 25.01.2023 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 @ 7% 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. 169/2023 is allowed with costs.

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(B) The defendants shall pay jointly and severally to the applicant Bank a sum of Rs. 28,88,902/- (Rupees Twenty Eight Lacs, Eighty Eight Thousand, Nine Hundred and Two

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only), along with future interest @ 7% per annum

(OA No.169/2023)

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[AMBADAS]

(simple), from the date of filing of the O. A. i.e. 25.01.2023 till full payment/realization of the amount

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mentioned in this operative order.

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(C) The aforesaid adjudicated amount is secured by the mortgage of the following immovable properties vide depositing of sale deed No. AGG-5-2527-2019 dated 06.06.2019 at annexure A-12 in list of documents Exh. 5.

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i) All that piece and parcel of NA Land admeasuring 40 R, part of Gut No. 136, of village Satara, Tq. And Dist. Aurangabad, which is bounded as under: East: Compound wall of the project, West: Road and remaining land of the project, South: ‘D’ Building, North: ‘BA’ Wing.

(OA No.169/2023)

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[AMBADAS]

(D) The applicant Bank is entitled to sell the mortgaged

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immovable properties, 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:.13.10.2025 Debts Recovery Tribunal, Aurangabad

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(OA No.169/2023)

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[AMBADAS]

Union Bank of India v. Balaji Nivrutti Ankush

Case brief

What is this about?

What did the court decide?

Union Bank of India v. Balaji Nivrutti Ankush

Case brief

What is this about?

What did the court decide?

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