Allowed

Bank of Maharashtra v. M/S Bramhi Print and Pack

DRT20 Aug 2025OA/210/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal, Aurangabad adjudicated an original application filed by Bank of Maharashtra for recovery of dues. The court allowed the claim against the defendants who were ex-parte, directing payment of principal and a prescribed rate of future interest.

What did the court decide?

Deduction of Rs. 32,86,323/- plus future interest at 9% p.a. (simple) from 08.02.2023. Enforcement against mortgaged properties and hypothetical articles.

Bank of Maharashtra versus M/S Bramhi Print and Pack — Company and Corporate | DRT (2025)

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Presented on: 08.02.2023 Registered on: 05.12.2023 Decided on: 20.08.2025 Duration: Y M D 02 06 12

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IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 210/2023

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TOTAL CLAIM AMOUNT – Rs. 32,86,323/-

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Bank of Maharashtra,

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A Body Corporate constituted under the Banking companies (Acquisition and Transfer of Undertakings) Act V of 1970, Having its Head Office at “Lokmangal”, 1501, Shivaji Nagar, Pune-411 005 and branches amongst the other places at Sawarkar Chowk, Aurangabad through its Authorized Person, Mr. Ashwin Baba Ganvir (Senior Manager), Age: 32 yrs, Occu.: Service, R/o. Sawarkar Chowk, Aurangabad

… Applicant

(OA No.210/2023)

Page 1 of 10

[AMBADAS]

Versus

M/s. Bramhi Print and Pack R/o.: At Plot No. 45 C, Service Industry, Town Centre, Opp. Ambika Paper, CIDCO, Aurangabad 431001

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Mrs. Vandana Vishal Khare Age: Major, Occu.: Business, R/o.: Plot No. 2 Ganesh Housing Society, Bajrang Chowk, Opp. Bharat Gas, N-8, CIDCO, Aurangabad 431001 AND/OR Mrs. Vandana Vishal Khare Age: Major, Occu.: Business, R/o.: Row House No. 5, Type D-07 “Sara Swapngangan”, Gut No. 93 & 95, Near Maruti Mandir, Village Gangapur Jahangir Tq. & Dist. Aurangabad 431007

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Ms. Shruti Chandrashekhar Sanghai Age: Major, Occu.: Business, R/o.: Row House No. 76, Kaslial Purva, Near Endoworld Hospital, Chikalthana Aurangabad 431001 AND/OR Ms. Shruti Chandrashekhar Sanghai Age: Major, Occu.: Business, R/o.: “Sammed Niwas:, Samadhan Colony, Parbhani 431401

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Mr. Ajinath Gopinath Sontakke Age: Major, Occu.: Business,

(OA No.210/2023)

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[AMBADAS]

R/o.: P4/23/3, Vitthal Nagar, Near Sai Mandir N-2, CIDCO, Chikalthana Industrial Area S.O., Aurangabad 431006 AND/OR Mr. Ajinath Gopinath Sontakke Age: Major, Occu.: Business, R/o.: Plot No. 46, Platinum Square, Gut No. 171, 172 & 174, Shendra Jahangir, Tq & Dist. Aurangabad

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…Defendants

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

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JUDGMENT

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Delivered on 20.08.2025

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The Applicant Bank has filed the present application for the

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recovery of a sum of Rs. 32,86,323/- (Rupees Thirty Two Lacs Eighty Six Thousand Three Hundred and Twenty Three only), along with further interest from the date of filing of the Original Application, i.e., 08.02.2023, 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, defendant No. 2 & 3 being

(OA No.210/2023)

Page 3 of 10

[AMBADAS]

partners of Defendant No. 1 approached the applicant bank seeking financial assistance in the form of Cash Credit Facility. Upon scrutiny of the submitted documents, the applicant bank sanctioned a Cash Credit Facility of Rs. 30,00,000/- vide sanction letter dated 01.03.2021 The agreed rate of interest was @10.05% p.a. with monthly rests. The defendants also agreed to

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pay an additional interest by way of liquidated damages in case of default in repayment.

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In order to secure the aforesaid loan facilities, the Defendants executed various loan documents in favour of the Applicant Bank. These included sanction letter, deed of hypothecation, demand promissory note, registered mortgage deed bearing Daybook No. 2283 dated 09.03.2021 etc. Additionally, Defendant No. 4 stood as guarantors for Defendant No. 1 to 3 and executed a Deed of Guarantee for all facilities expect agricultural facilities on 18.03.2021 in favour of the Applicant Bank.

(OA No.210/2023)

Page 4 of 10

[AMBADAS]

The Applicant Bank further contends that, in order to secure the

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loan facilities sanctioned to them, the Defendant No.1 to 3 created first charge over their immovable properties by executing simple mortgage deed bearing daybook no. 2283 dated 09.03.2021 in favour of the applicant bank. The mortgage was created in respect of the following properties –

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All that piece and parcel of Property bearing Row House No. 05 in D-7 Type building, adm. 27.281 sq.mtrs. carpet area & 30.139 sq.mtrs. built up area in the project known as “ Sara Swapnagan” constructed on Gut No. 93 & 95, situated at Village Gangapur Jahangir, Tq & Dist. Aurangabad which is bounded as under:

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East: Approach West: Row House No. 12 North: Row House No. 04 South: Row House No. 06

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All that piece and parcel of Property bearing Plot No. 46 adm. 109.214 sq.mtrs. in the layout Known as “Platinum Square” constructed on Gut No. 171, 172, 174 situated at Village Shendra Jahangir, Tq & Dist. Aurangabad which is bounded as under:

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East: Plot No. 61 West: 9 mtr. wide Road North: Plot No. 47 South: 12 mtr. wide Road

(OA No.210/2023)

Page 5 of 10

[AMBADAS]

The applicant bank further states that in order to secure the loan, the defendant also executed deed of Hypothecation, thereby hypothecating machineries, goods, stocks of raw materials, items, inventories, stock in process, semi-finished and finished goods, stores and spares, stock in trade, goods in process, movables in transit, and present and future tangible and intangible assets, vehicles, goodwill, trademark, copyright, patent and etc.

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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

(OA No.210/2023)

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[AMBADAS]

defendants became irregular and classified as NPA on 16.07.2022. Therefore, on 17.12.2022 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 paper publication. Hence, the defendants were proceeded ex-parte as per Order dated 01.05.2025.

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The applicant Bank has filed Claim Affidavit of evidence at Exhibit-4 of Mr. Ashwin Baba Ganvir, Senior Manager of the applicant Bank, and has produced on record the original loan transaction documents as Exh. A-1 to A-11 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.

(OA No.210/2023)

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[AMBADAS]

Since the defendants 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.

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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 @10.05% p.a. on the Cash Credit Facility from the date of filing i.e. 08.02.2023 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. 210/2023 is allowed with costs.

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(B) The defendants jointly and severally shall pay to the

(OA No.210/2023)

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[AMBADAS]

applicant Bank a sum of Rs. 32,86,323/- (Rupees Thirty Two Lacs Eighty Six Thousand Three Hundred and Twenty Three only), along with future interest @ 9% per annum (simple) from the date of filing of the Original Application i.e. 08.02.2023 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 Vide simple mortgage deed bearing daybook no. 2283 dated 09.03.2021 at Exh. A-6 in list of documents Exh. 5.

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All that piece and parcel of Property bearing Row House No. 05 in D-7 Type building, adm. 27.281 sq.mtrs. carpet area & 30.139 sq.mtrs. built up area in the project known as “ Sara Swapnagan” constructed on Gut No. 93 & 95, situated at Village Gangapur Jahangir, Tq & Dist. Aurangabad which is bounded as under:

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East: Approach West: Row House No. 12 North: Row House No. 04 South: Row House No. 06

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All that piece and parcel of Property bearing Plot No.

(OA No.210/2023)

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[AMBADAS]

46 adm. 109.214 sq.mtrs. in the layout Known as “Platinum Square” constructed on Gut No. 171, 172, 174 situated at Village Shendra Jahangir, Tq & Dist. Aurangabad which is bounded as under:

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East: Plot No. 61 West: 9 mtr. wide Road North: Plot No. 47 South: 12 mtr. wide Road

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(D) The applicant Bank is entitled to sell the mortgaged immovable properties and hypothecated articles/goods, 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. Place: Aurangabad Date:. 20.08.2025

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

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(OA No.210/2023)

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Page 10 of 10

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[AMBADAS]

Bank of Maharashtra v. M/S Bramhi Print and Pack

Case brief

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Bank of Maharashtra v. M/S Bramhi Print and Pack

Case brief

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