Allowed

Bank of Maharashtra v. M/s Nivruti Gorakh Biradar

DRT4 Sept 2025OA/214/2024

Case brief

AI extract

What is this about?

Bank of Maharashtra filed an application for recovery of dues amounting to Rs. 26 lakhs along with interest. Following the default of the borrowers who failed to appear, the Tribunal allowed the claim on ex-parte basis, granting sale of mortgaged properties and issuing a Recovery Certificate.

What did the court decide?

Defendants ordered to pay Rs. 26,00,576.59 with 9% simple future interest; applicant entitled to sell mortgaged properties and Recover Certificate issued.

Bank of Maharashtra versus M/s Nivruti Gorakh… — Contract and Commercial Disputes | DRT (2025)

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Presented on: 13.08.2023 Registered on: 16.03.2024 Decided on: 04.09.2025 Duration: Y M D 02 00 21

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IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 214/2024

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TOTAL CLAIM AMOUNT – Rs. 26,00,576.59/-

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Bank of Maharashtra ,

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A Body Corporate constituted under the provisions

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of Banking Companies (Acquisition and Transfer of

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Undertakings) Act 5 of 1970, carrying on banking business & Having its Head Office at “Lokmangal”, 1501, Shivaji Nagar, Pune-411 005 and Zonal Office at Pushpak Plaza, Ganesh Nagar, Ausa Road, Latur, District Latur-413531. Through its Authorized officer, Shri. Hariom S/o Shitalkant Trivedi, Age: Major, Occ.: Service, Working as Chief Manager, Asset Recovery Branch, Bank of Maharashtra, at Town Center, CIDCO, Aurangabad

… Applicant

(OA No.214/2024)

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[AMBADAS]

Versus

M/s. Nivruti Gorakh Biradar Through its Proprietor, Gorakh Baburao Biradar, Age: Major, Occupation: Business, R/o.: At. Netragam, Post. Bansheiki, Tq. Udgir, District Latur-413517. AND

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Nava Mondha, Tq. Udgir, District Latur-413517.

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Kainda Gorakh Biradar, Age: Major, Occupation: Housewife, R/o.: At. Netragam, Post. Bansheiki, Tq. Udgir, District Latur-413517. AND Nava Mondha, Tq. Udgir, District Latur-413517.

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Ashwini Abhay Kulkarni, Age: Major, Occupation: Housewife, R/o.: Mahesh Housing Society, Nanded Bidar Road, Tq. Udgir, District Latur-413517. AND

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Plot No. 14, G.P. No. 2555 from Sr. No. 44/2, Admeasuring 1200 Sq. Fts. Madlapur, Tq. Udgir, District Latur-413517.

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4. Abhay Devidas Kulkarni, (Deceased) LEGAL HEIRS

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4.A. Ashwini Abhay Kulkarni Age: Major, Occupation: Housewife, R/o.: Mahesh Housing Society, Nanded Bidar Road, Tq. Udgir, District Latur-413517. AND

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[AMBADAS] (OA No.214/2024)

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Page 2 of 11

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Plot No. 14, G.P. No. 2555 from Sr. No. 44/2, Admeasuring 1200 Sq. Fts. Madlapur, Tq. Udgir, District Latur-413517. AND

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Plot No. 13, G.P. No. 2555 from Sr. No. 44/2, Admeasuring 1200 Sq. Fts. Madlapur, Tq. Udgir, District Latur-413517.

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…Defendants

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APPEARANCES For the Applicant For Defendants

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Mr. Atul A. Mishra -Advocate Ex-parte

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JUDGMENT

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Delivered on 04.09.2025

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The Applicant Bank has filed the present application for the

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recovery of a sum of Rs. 26,00,576.59/- ( Rupees Twenty Six Lacs, Five hundred, Seventy Six and Fifty nine Paisa only), along with

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future interest from the date of filing of the Original Application, i.e., 13.08.2023, 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 had

(OA No.214/2024)

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[AMBADAS]

approached and requested the Applicant Bank for Cash Credit Facility. Upon considering the request and financial needs of the Defendant, the Applicant Bank sanctioned Cash Credit Facility of Rs. 6,00,000/- vide sanction letter dated 05.05.2017 on certain terms and conditions. The agreed rate of interest for the aforesaid loan facility was @MCLR @ 8.78 +BSS @0.250 At present = @9% p.a. with monthly rests. The Defendants also agreed to pay additional interest by way of liquidated damages in the event of any default in repayment.

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The applicant bank further states that the defendant approached bank to enhance the Cash Credit Facility. Upon considering the needs of the defendant, the applicant bank enhanced the Cash Credit Facility from Rs. 6,00,000/- to 10,00,000/- vide sanction letter dated 10.09.2018 on certain terms and conditions. The agreed rate of interest for the aforesaid loan facility was @10.75% p.a. with monthly rests. The Defendants also agreed to

(OA No.214/2024)

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[AMBADAS]

pay additional interest by way of liquidated damages in the event of any default in repayment.

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The applicant bank further states that the defendant again approached bank to enhance the Cash Credit Facility. Upon considering the needs of the defendant, the applicant bank enhanced the Cash Credit Facility from Rs. 10,00,000/- to 24,50,000/- vide sanction letter dated 16.09.2019 on certain terms and conditions. The agreed rate of interest for the aforesaid loan facility was @MCLR @ 8.50 +BSS @0.25+2.0 At present = @ 10.75% p.a. with monthly rests. The Defendants also agreed to pay additional interest 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 Defendants executed various loan documents in favour of the Applicant Bank. These included sanction letters, demand promissory notes, simple mortgage bearing daybook no. 5355/2019 &

(OA No.214/2024)

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[AMBADAS]

hypothecation agreement etc. Additionally defendant No. 2 to 4

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stood as guarantors for defendant no. 1 and executed a deed of

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guarantee on 18.09.2019 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 Defendants created first charge over their immovable property by executing mortgage deed bearing daybook no. 5355/2019 dated 20.09.2019 in favour of the Applicant Bank. The mortgage was created in respect of the

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following properties-

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All that piece and parcel of Plot No. 13, admeasuring 1200 sq.fts. G.P. No. 2554 from Sr. No. 44/2, Madlapur, Tq. Udgir, District Latur 413517, which is bounded as under:

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East: Plot No. 04 West: 20 Ft Road South: Plot No. 12 North: Plot No. 14

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All that piece and parcel of Plot No. 14, admeasuring 1200 sq.fts. G.P. No. 2555 from Sr. No. 44/2, Madlapur, Tq. Udgir, District Latur 413517, which is bounded as under:

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East: Plot No. 03 West: 20 Ft Road

(OA No.214/2024)

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[AMBADAS]

South: Plot No. 13 North: Plot No. 15

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All that piece and parcel of Plot No. 3, M.C. No. 4-1-1884 from Sr. No. 301 admeasuring 787.5 sq.fts. Samta Nagar, Tq. Udgir, District Latur 413517, which is bounded as under:

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East: Remaining portion of Plot No. 03 West: Plot No. 02 South: Plotting Sold by Malge North: 20 Ft Road

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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 24.03.2022. Therefore on 02.12.2022 the applicant bank issued legal notice to the defendants through their advocate. Despite

(OA No.214/2024)

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[AMBADAS]

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 court commissioner and paper publication. Hence, the defendants were proceeded ex-parte as per Order dated 15.01.2025.

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The applicant Bank has filed Claim Affidavit of evidence at Exhibit-4 of Shri Hariom S/o Shiltakant Trivedi, Chief Manager of the applicant Bank, and has produced on record the original loan transaction documents as Exh. AW-1(1) to Exh. AW-1(22) 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

(OA No.214/2024)

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[AMBADAS]

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 @10.75% p.a. from the date of filing i.e. 13.08.2023 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. 214/2024 is allowed with costs.

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(B) The defendants shall jointly and severally pay to the applicant Bank a sum of 26,00,576.59/- ( Rupees Twenty Six Lacs, Five hundred Seventy Six and Fifty nine Paisa

(OA No.214/2024)

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[AMBADAS]

only), along with future interest @ 9% per annum (simple) from the date of filing of the Original Application i.e. 13.08.2023 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 property bearing daybook no. 5355/2019 vide mortgage deed dated 20.09.2019 at Exh AW-1(18) in list of documents Exh. 5.

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All that piece and parcel of Plot No. 13, admeasuring 1200 sq.fts. G.P. No. 2554 from Sr. No. 44/2, Madlapur, Tq. Udgir, District Latur 413517, which is bounded as under:

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East: Plot No. 04 West: 20 Ft Road South: Plot No. 12 North: Plot No. 14

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All that piece and parcel of Plot No. 14, admeasuring 1200 sq.fts. G.P. No. 2555 from Sr. No. 44/2, Madlapur, Tq. Udgir, District Latur 413517, which is bounded as under:

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East: Plot No. 03 West: 20 Ft Road South: Plot No. 13 North: Plot No. 15

(OA No.214/2024)

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[AMBADAS]

All that piece and parcel of Plot No. 3, M.C. No. 4-11884 from Sr. No. 301 admeasuring 787.5 sq.fts. Samta Nagar, Tq. Udgir, District Latur 413517, which is bounded as under:

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East: Remaining portion of Plot No. 03 West: Plot No. 02 South: Plotting Sold by Malge North: 20 Ft 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) 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:.04.09.2025

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

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(OA No.214/2024)

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[AMBADAS]

Bank of Maharashtra v. M/s Nivruti Gorakh Biradar

Case brief

What is this about?

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Bank of Maharashtra v. M/s Nivruti Gorakh Biradar

Case brief

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