Allowed

Bank of India v. Daji Bandgar

DRT20 Jun 2025OA/172/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the bank's application for recovery of Rs. 43,87,769/- including future interest. The court reduced the claimed future interest from 12.70% to 9% simple interest and granted a direction to sell the mortgaged agricultural property for recovery.

What did the court decide?

Payment of Rs.43,87,769/- plus future interest @ 9% p.a.; direction to sell mortgaged property; issue of Recovery Certificate.

Bank of India versus Daji Bandgar — Contract and Commercial Disputes | DRT (2025)

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Presented on .. 03.07.2018 Registered on .. 16.02.2023 Decided on .. 20.06.2025 Duration .. Y—M—D 06--11--17

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IN THE DEBTS RECOVERY TRIBUNAL AT PUNE (Before Shri Dilip G. Murumkar, Presiding Officer) ORIGINAL APPLICATION No. 172/2023.

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Bank of India,

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A Bank constituted under the Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970, having its head office at Star House, C-5, G Block, Bandra-Kurla Complex, Bandra (E), Mumbai – 400051 and branch office at – Dhalgaon, Dhokate Building, Taluka Kavathemahakal, District Sangli.

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… Applicant

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Versus

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1 Mr. Daji Bhimrao Bandgar, Age Adult, Occ. Agriculture, Add. : A/P Dorli, Taluka Jat, District Sangli 416 403.

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2 Smt. Nakusa Ananda Bandgar, Age Adult, Occ. Agriculture, Add. : A/P Dorli, Taluka Jat, District Sangli 416 403.

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3 Mr. Balu Bhimrao Bandgar, Age Adult, Occ. Agriculture, Add. : A/P Dorli, Taluka Jat, District Sangli 416 403.

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Sanap ( OA No. 172/2023 ) 1 of 5

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4 Mr. Bramhanath Bapu Mane, Age Adult, Occ. Agriculture, Add. : A/P Dorli, Taluka Jat, District Sangli 416 403.

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5 Mr. Shankar Maruti Dudhal, Age Adult, Occ. Agriculture, Add. : A/P Ankale, Taluka Jat, District Sangli 416 403. … Defendants

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:- Appearances

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For Applicant Advocate Satyen Jagtap. For Defendants Ex parte.

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Total Claim Amount – Rs. 43,87,769/-

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JUDGMENT

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(Delivered on 20^th June, 2025)

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The Applicant Bank has filed the present application for recovery of the sum of Rs.43,87,769/- together with future interest @12.70% per annum from the date of Application till realization of the entire dues from the defendants.

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Brief facts of the application are as under :-

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As per the loan application dated 09.09.2005 of defendant Nos.1 to 3, the applicant Bank sanctioned the following loan facilities to defendant Nos.1 to 3 for Grape Plantation, Drip Irrigation and cultivation of crop.

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Name of facility Sanctioned Amount

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1 Term Loan I Rs.2,45,650/2 Term Loan II Rs.5,54,350/-

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3 Cash Credit Rs.3,50,000/-

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Sanap ( OA No. 172/2023 ) 2 of 5

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Defendant Nos.4 and 5 stood guarantors for the repayment of loan availed by defendant Nos.1 to 3.

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In order to secure the aforesaid loan facilities, the defendants executed loan and necessary security documents in favour of the applicant Bank. Defendant Nos. 1 to 3 have also executed registered mortgage deed dated 15.12.2005 of the properties i.e. all the piece and parcel of Agricultural land situated at Gat Nos. 646/1, 646/2, 646/3, 646/4, 646/5 and 643 total admeasuring 5.35 Hectare at village Dorli, Taluka Jat, District Sangli, in favour of the applicant Bank.

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The defendants have also executed Acknowledgment of Debts from time to time and lastly on 11.03.2016 and thereby confirmed the balance outstanding in loan accounts.

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The applicant Bank contended that the defendants committed defaults in payment of installments and failed to regularize the accounts. Therefore, on 11.01.2018, the applicant Bank issued legal Notice to the defendants. Despite service of Notice, the defendants failed and neglected to pay the outstanding dues of the applicant Bank. Hence, this application is filed.

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The defendants failed to appear despite service of summons. Hence, the application proceeded ex-parte

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Sanap ( OA No. 172/2023 ) 3 of 5

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against the defendants as per Order dated 28.02.2025 passed below Application (Exhibit-1).

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The applicant Bank has filed Claim Affidavit of evidence (Exhibit-6) of Dipak Narayan Wankar, Branch Manager of the applicant Bank, and has produced on record the original loan transaction documents at Sr. Nos. AW1-1 to AW1-22 along with list (Exhibit 7), 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 evidence of the applicant Bank. Therefore, the applicant Bank is entitled for reliefs as claimed.

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The applicant Bank has claimed relief in respect of hypothecated assets. However, there is no detailed description with respect to the hypothecated assets, therefore, the relief in terms of hypothecated assets cannot be granted.

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The applicant Bank has claimed future interest @12.70% per annum. 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. Hence, I pass the following order.

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Sanap ( OA No. 172/2023 ) 4 of 5

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O R D E R

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A} Original Application No. 172/2023 is allowed with costs.

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B} Defendant Nos.1 to 5 either jointly or severally shall pay to the applicant Bank the sum of Rs.43,87,769/- (Rupees Forty Three Lakhs Eighty Seven Thousand Seven Hundred Sixty Nine only) along with future interest @9% per annum from the date of filing of the Original Application i.e. 03.07.2018 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 valid and subsisting mortgage of all the piece and parcel of Agricultural land situated at Gat Nos. 646/1, 646/2, 646/3, 646/4, 646/5 and 643 total admeasuring 5.35 Hectare at village Dorli, Taluka Jat, District Sangli, more particularly described in the Para No. 5.6 of the Original Application.

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D} The applicant Bank is entitled to sell the mortgaged property to recover its dues.

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E} Issue Recovery Certificate.

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

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Sd/-

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( Dilip G. Murumkar ) Place : Pune Presiding Officer Date : 20.06.2025 Debts Recovery Tribunal, Pune.

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Sanap ( OA No. 172/2023 ) 5 of 5

Bank of India v. Daji Bandgar

Case brief

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Bank of India v. Daji Bandgar

Case brief

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