Allowed

Canara Bank v. Sushma Patil

DRT29 Aug 2025OA/212/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal at Pune allowed an application filed by Canara Bank for recovery of dues of Rs.40,68,082/- along with future interest from three defendants who had defaulted on agricultural and personal loans. The Tribunal deemed the defendants' non-appearance justified rejecting the impugned order standard and modified the claimed interest rates.

What did the court decide?

Defendants to pay Rs.40,68,082/- with future interest at 9% p.a.; mortgaged property to be sold; Recovery Certificate issued.

Canara Bank versus Sushma Patil — Contract and Commercial Disputes | DRT (2025)

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Presented on: 07.10.2022 Registered on: 18.02.2023 Decided on: 29.08.2025 Duration: Y M D 02 10 22

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IN THE DEBTS RECOVERY TRIBUNAL AT PUNE (Before Shri Dilip G. Murumkar, Presiding Officer) ORIGINAL APPLICATION No.212/2023.

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CANARA BANK , (Erstwhile Syndicate Bank)

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A Banking Company constituted under the Banking Companies Acquisition and Transfer of Undertakings Act, 1970 (Acquisition and Transfer of Undertakings) Act, 1970 having its Head Office 112 JC Road, Bangalore, Karnataka560002 and having one of its branches amongst other places at Uran Mora Road, District Raigad.

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… Applicant

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Versus

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1. Mrs. Sushma Suresh Patil

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2. Mr. Suresh Maya Patil

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Both R/at Flat No.101/104, 1^st Floor, L-Wing, Galaxy Apartment, Behind Syndicate Bank, CTS No.182/A, Mora Raigad-400 704.

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3. Mr. Navnath Tarachand Nakhwa R/at House No.57, Near Hanuman Mandir, Navapada, Karanja, Uran-400 702.

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… Defendants

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APPEARANCES

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For the Applicant Mrs. Sudha Koloti - Advocate. For the Defendants Ex-parte.

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TOTAL CLAIM AMOUNT –Rs.40,68,082/-.

(OA No.212/2023)

Page 1 of 8

[ANIL]

JUDGMENT (Delivered on 29^th August, 2025)

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The Applicant Bank has filed present application for recovery of aggregate sum of Rs.40,68,082/- [i.e.Rs.32,49,893/- towards Agriculture Term Loan A/c No.52118240000245 with future interest thereon @10.40%p.a. and Rs.8,18,189/- towards Personal Loan Account No.52117630000486 with future interest thereon @13.55%p.a.] from 02.10.2022 with monthly rests from the date of application till repayment/realization of the entire dues from the Defendant Nos.1 to 3.

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Brief facts of the application are as under:

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Defendants No.1 & 2 approached the Applicant Bank on 21.04.2014 and requested for Agriculture Term Loan Facility of Rs.15,00,000/- for purchasing Fishing Net.

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Applicant Bank considered the request of Defendants No.1&2 and sanctioned Agriculture Term Loan of Rs.15,00,000/- on 29.04.2014, for purchasing Fishing Net, on certain terms and conditions. Defendant No. 3 stood as personal guarantor for the said loan facility to Defendants No.1 and 2.

(OA No.212/2023)

Page 2 of 8

[ANIL]

In order to secure the Agriculture Term Loan, Defendants No.1 & 2 have executed necessary loan transaction and security documents in favour of the Applicant Bank as mentioned in Para No.5.8 of the Original Application.

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Defendant No.1 to secure said loan has executed Agreement for Agricultural Advances dated 29.04.2014 and thereby hypothecated Fishing Net and Fishing Boat purchased out of bank finance in favour of the applicant bank.

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So also, Defendants No.1 and 2 to secure said loan created Mortgage by deposit of Title Deeds dated 25.04.2014 in favour of applicant of the immovable properties i.e. all that piece and parcel of Flat No.101 in ‘L’ Wing on First Floor admeasuring 728 sq. ft. built up in the proposed building named as “Galaxy Apartment” situated at village Mora, on City Survey Nos. 182/A, 182/1A, 183, 183/1, 183/2, 183/3, 183/4, 183/5, 183/6, 183/6, 183/7, 184, 184/1, 184/2, 184/3, 184/4, 184/5, 184/6, 184/7, and 184/8 lying and situated in the District and Division of Raigad, Sub Division Panvel, Taluka Uran, at Uran within the limits of Uran Municipal Council, more particularly described in Para No.5.11 of the Original Application.

(OA No.212/2023)

Page 3 of 8

[ANIL]

It is contended that Defendant No.1 again approached Applicant Bank on 13.10.2014 for Credit Facilities of Rs.2,50,000/for personal use. The Applicant Bank considered the request and sanctioned credit facility under DL SYNDSARAL NON-SALARIED-BR of Rs.2,50,000/- to Defendant No.1 for personal use. Guarantee of Defendant No.3 was continued for the said Loan Facility.

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It is further contended that after availing and utilizing the loan facilities, the Defendants failed to repay the loan amounts as per terms of sanction. Hence, the loan accounts of the defendants were classified as Non-Performing Assets on 30.01.2015 as per Reserve Bank of India norms.

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Defendants No.1 and 2 failed and neglected to comply with terms and conditions on which the said loan facilities were granted Defendant Nos.1 to 3 neither operated the account satisfactorily nor made enough deposits in the loan accounts to keep it regular as per terms of sanction and kept the principal and interest in arrears. It was also running irregular and defendants Nos.1 to 3 were reluctant to pay the amounts. Applicant bank, therefore, called upon the defendants to regularize the accounts, but the defendants

(OA No.212/2023)

Page 4 of 8

[ANIL]

failed and neglected to comply with the same. Hence, the applicant bank issued Recall-Invocation of Guarantee Notice dated 20.09.2022 through Advocate Sudha Koloti to the defendants and called upon them to repay the entire amount outstanding under the said loan accounts. But in spite of receipt of notices, the defendants failed to pay the amount.

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Hence, this application is filed.

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Defendant Nos.1 to 3 failed to appear despite service of summons. Hence, the application proceeded ex-parte against him vide Order dated 04.06.2025 passed below the Application (Exhibit-01).

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Applicant Bank filed Claim Affidavit of evidence (Exhibit-6) of Mr. Mohit Bajaj, Manager, which supports the case of the applicant elucidated in the application.

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Applicant Bank has produced in evidence original loan documents at Sr.Nos.AW-1 to AW-23, which corroborate the case of the Applicant Bank.

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I have heard arguments of the learned Advocate for the Applicant Bank.

(OA No.212/2023)

Page 5 of 8

[ANIL]

Since the Defendants failed to appear and contest the application, I find no reason to disbelieve the evidence of the Applicant Bank. Therefore, the Applicant Bank is entitled for reliefs as claimed.

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10 The applicant bank 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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11 Applicant Bank has claimed future interest @10.40% p.a. for Agriculture Term Loan and @13.55% p.a. for Personal Loan Account. Considering the facts of the present case, I am of the opinion that if future interest is granted @9% per annum (simple) for all the facilities, it would be just and reasonable.

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12 Hence, I pass the following order: -

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ORDER

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(A) Original Application No.212/2023 is allowed with costs.

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(B) Defendant Nos.1 to 3 jointly or severally shall pay to the Applicant Bank an aggregate amount of Rs.40,68,082/- [i.e. Rs.32,49,893/- (Rupees Thirty Two Lakhs Fourty Nine Thousand Eight Hundred

(OA No.212/2023)

Page 6 of 8

[ANIL]

Ninety Three only) towards Agriculture Term Loan A/c No. 52118240000245 and Rs.8,18,189/- (Rupees Eight Lakhs Eighteen Thousand One Hundred Eighty Nine only) towards Personal Loan A/c No. 52117630000486] with future interest @9% p.a. (Simple) from the date of filing of the Original Application i.e.07.10.2022 till payment/ realization of the amount mentioned in this operative order.

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(C) The aforesaid adjudicated amount is secured by Equitable Mortgage of the following immovable properties in favour of the Applicant Bank i.e. all that piece and parcel of Flat No.101 in ‘L’ Wing on First Floor admeasuring 728 sq. ft. built up in the proposed building named as “Galaxy Apartment” situated at village Mora, on City Survey Nos.182/A, 182/1A, 183, 183/1, 183/2, 183/3, 183/4, 183/5, 183/6, 183/6, 183/7, 184, 184/1, 184/2, 184/3, 184/4, 184/5, 184/6, 184/7, and 184/8 lying and situated in the District and Division of Raigad, Sub Division Panvel, Taluka Uran, at Uran within the limits of Uran Municipal Council, more particularly described in Para No.5.11 of the Original Application.

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(D) The Applicant Bank is entitled to sell the above mentioned mortgaged immovable properties to recover its dues.

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(E) Issue Recovery Certificate.

(OA No.212/2023)

Page 7 of 8

[ANIL]

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

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Sd/Place: Pune (Dilip G. Murumkar) Date: 29.08.2025 Presiding Officer, Debts Recovery Tribunal, Pune.

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(OA No.212/2023)

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Page 8 of 8

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[ANIL]

Canara Bank v. Sushma Patil

Case brief

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What did the court decide?

Canara Bank v. Sushma Patil

Case brief

What is this about?

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