Allowed

Union Bank of India ( Andhra Bank ) v. Balasaheb Eknaath Jadhav

DRT18 Sept 2025OA/215/2022

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed the application filed by Union Bank of India against borrowers for recovery of housing loan dues. The court modified the future interest rate from 8.5% to 8% and secured the decree on mortgaged property.

What did the court decide?

Directed respondents to pay Rs. 23,14,401.66 with future interest @ 8% p.a. (simple). Declared property as security. Directed issuance of Recovery Certificate.

Union Bank of India ( Andhra Bank ) versus… — Contract and Commercial Disputes | DRT (2025)

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Presented on: 11.03.2022 Registered on: 18.07.2022 Decided on: 18.09.2025 Duration: Y M D 03 06 07

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IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 215/2022

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TOTAL CLAIM AMOUNT – Rs. 23,14,401.66/-

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UNION BANK OF INDIA, (erstwhile ANDHRA Bank, amalgamated into Union Bank of India with effect form 1^st April 2020 in terms of Gazette of India No. GSR No. 154 (E) dated 4^th March 2020 issued by Ministry of Finance, Government of India) a Body Corporate and constituted under the Banking Companies (Acquisition of Undertaking) Act, 1970, having its Head Office at Union Bank Bhavan, 239, Vidhan Bhavan Marg, Mumbai-400021. And amongst other branches, one of the branch office at House No. 18, Randhir building, Gurukrupa Housing, Stadium Road, Shahnoorwadi Dargah, Garkheda, Aurangabad, Through its Authorized officer, Shri Avinash Anand s/o Anil Kumar, Age: 33 years, Occ.: Service, Working as Senior Manager, Union Bank of India, House No. 18, Randhir Building, Gurukrupa Housing Stadium Road, Shahnoorwadi Dargah, Garkheda, Aurangabad.

… Applicant

Versus

(OA No.215/2022)

Page 1 of 8

[AMBADAS]

Balasaheb Eknath Jadhav, Age: Major, Occ.: Service, R/o.: Plot No. 125, Milkat No. 3302, Ganggotri Park, Gut No. 56, Wadgaon, Aurangabad, Maharashtra. AND Brahangaon Tanda, Antarwali Khandi, Aurangabad – 431121. 2. Sapna Balasaheb Jadhav, Age: Major, Occ.: Household, R/o.: Plot No. 125, Milkat No. 3302, Ganggotri Park, Gut No. 56, Wadgaon, Aurangabad, Maharashtra. AND Brahangaon Tanda, Antarwali Khandi, Aurangabad – 431121.

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…Defendants

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APPEARANCES

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For the Applicant For Defendants

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Mr. Atul A. Mishra -Advocate Ex-parte

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JUDGMENT Delivered on 18.09.2025

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The Applicant Bank has filed the present application for the recovery of a sum of Rs. 23,14,401.66/- (Rupees Twenty Three Lacs, Fourteen Thousand, Four Hundred One and Sixty Six Paisa only), along with future interest from the date of filing of the Original

(OA No.215/2022)

Page 2 of 8

[AMBADAS]

Application, i.e., 11.03.2022, 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 Defendants No. 1 & 2 had approached and requested the Applicant Bank for housing loan facility. Upon considering the request and financial needs of the Defendants, the Applicant Bank sanctioned Home loan of Rs. 21,50,000/- vide sanction letter dated 21.09.2019 on certain terms and conditions. The agreed rate of interest for the aforesaid loan facilities was @ 8.50% 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 facility, the Defendants executed various loan documents in favour of the Applicant Bank. These included sanction letter, composite agreement, housing

(OA No.215/2022)

Page 3 of 8

[AMBADAS]

loan agreement, and sale deed bearing daybook No. 5514/2019

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dated 09.10.2019, demand promissory note etc.

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The Applicant Bank further contends that, in order to secure the aforesaid loan facility, the Defendant No. 1 & 2 created first charge

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over their immovable property under sale deed bearing daybook No. 5514/2019 dated 09.10.2019 in favour of the Applicant Bank.

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The mortgage was created in respect of the following property-

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All that piece and parcel of property At House on Plot No. 125, Milkat No. 3302, Gangotri Park, Gut No. 56, Wadegaon, Aurangabad, Total admeasuring Area 92.93 square Meters owned by Balasaheb Eknath Jadhav and Sapna Balasaheb Jadhav bounded as under: East: 15 feet Road, West: Plot No. 157 South: Plot No. 124 North: Plot No. 126.

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The applicant bank contended that the defendants have failed to keep their promise and commitments agreed by them with regard

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to due repayment of the loan amount. The defendants failed to

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operate the loan account properly and failed to pay the agreed rate of interest as per terms and conditions of the sanction letter.

(OA No.215/2022)

Page 4 of 8

[AMBADAS]

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 31.03.2021. Therefore on 05.04.2021 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 duly served. Hence, the defendants were proceeded ex-parte as per Order dated 09.01.2024.

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The applicant Bank has filed Claim Affidavit of evidence at Exhibit-4 of Avinash Anand s/o Anil Kumar, Senior Manager of the applicant Bank, and has produced on record the original loan transaction documents as Annexure. A-1 to A-12 along with list of documents Exh.5 which corroborates the case of the applicant Bank.

(OA No.215/2022)

Page 5 of 8

[AMBADAS]

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 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 property of the borrowers which is mortgaged in favour of the applicant bank.

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The applicant Bank has claimed future interest @ 8.50 % p.a. from the date of filing i.e. 11.03.2022 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 @ 8% 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. 215/2022 is allowed with costs.

(OA No.215/2022)

Page 6 of 8

[AMBADAS]

(B) The defendants shall pay jointly and severally to the applicant Bank a sum of Rs. 23,14,401.66/- (Rupees Twenty Three Lacs, Fourteen Thousand, Four Hundred One and Sixty Six Paisa only), along with future interest @ 8 % per annum (simple) from the date of filing of the O.A. i.e. 11.03.2022 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. 5514/2019 vide sale deed dated 09.10.2019 at Annexure A-6 in list of documents Exh. 5.

(OA No.215/2022)

Page 7 of 8

[AMBADAS]

(D) The applicant Bank is entitled to sell the mortgaged immovable property 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/Pronounced in open court. (Dr. J. R. Chauhan) Place: Aurangabad Presiding Officer Date:. 18.09.2025 Debts Recovery Tribunal, Aurangabad

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(OA No.215/2022)

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Page 8 of 8

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[AMBADAS]

Union Bank of India ( Andhra Bank ) v. Balasaheb Eknaath Jadhav

Case brief

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Union Bank of India ( Andhra Bank ) v. Balasaheb Eknaath Jadhav

Case brief

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