Allowed

Bank of India v. Ganesh Gopichand Jadhav

DRT24 Dec 2025OA/216/2025

Case brief

AI extract

What is this about?

In an original application, the Debt Recovery Tribunal allowed a claim filed by Bank of India for recovery of Rs. 39,88,430.54/- along with future interest at 9% p.a. The court secured the recovery by listing mortgaged immovable properties and directed the issuance of a Recovery Certificate authorizing the sale of assets.

What did the court decide?

Determined to pay Rs. 39,88,430.54/- with future interest @9% p.a.; mortgaged properties are secured; Recovery Certificate issued.

Bank of India versus Ganesh Gopichand Jadhav — Execution and Attachment | DRT (2025)

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Presented on: 25.03.2025 Registered on: 03.04.2025 Decided on: 24.12.2025 Duration: Y M D 00 08 29

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IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 216/2025

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TOTAL CLAIM AMOUNT – Rs. 39,88,430.54/-

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Bank of India

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A Body Corporate constituted under the provisions of Banking Companies (Acquisition and Transfer of Undertakings) Act V of 1970, Having its Head Office at Star House, “C-5”, G-Block, Bandra Kurla Comples, Bandra (East), Mumbai and branch amongst other places at Rajur (G.) Tq. Bhokardan, Dist. Jalna through its Power of Attorney, Mr. Vitthal Onkar Chavan, Age: 38 yrs., Occ.: Service, R/o. Chh. Sambhajinagar.

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… Applicant

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Versus

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1. Mr. Ganesh Gopichand Jadhav, Age: Major, Occ.: Agri., R/o.: At Post Nandkheda, Tq. Jafrabad, Dist. Jalna 4312088.

(OA No.216/2025)

Page 1 of 9

[AMBADAS]

2. Mr. Anil Gopichand Jadhav, Age: Major, Occ.: Agri., R/o.: At Post Nandkheda, Tq. Jafrabad, Dist. Jalna 4312088.

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3. Mr. Krushna Bhujnagarao Chavan, Age: Major, Occ.: Agri., R/o.: At Post Nandkheda, Tq. Jafrabad, Dist. Jalna 4312088.

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…Defendants

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APPEARANCES

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Mr. K.D. Pande Advocate Ex-parte

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For the Applicant For Defendants

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JUDGMENT

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Delivered on 24.12.2025

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The Applicant Bank has filed the present application for the recovery of a sum of Rs. 39,88,430.54/- (Rupees Thirty Nine Lacs, Eighty Eight Thousand, Four Hundred Thirty and Fifty Four Paisa only), along with further interest from the date of filing of the Original Application, i.e., 25.03.2025, 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:

(OA No.216/2025)

Page 2 of 9

[AMBADAS]

That, the Defendant No. 1 & 2 had approached to the Applicant bank and requested to sanction a Term loan facility and Crop Loan facility. Upon considering the request and need of the defendants, the Applicant Bank sanctioned a Term loan of Rs. 12,00,000/- & Crop loan facility of Rs. 3,00,000/- vide sanction letter dated 01.08.2012 on certain terms and conditions. The agreed rate of interest was @ 14.50% p.a. with half yearly rests. The defendants also agreed to pay an additional interest by way of liquidated damages @ 2% p.a. 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, including the sanction letter, demand promissory notes, registered mortgage deed bearing daybook no. 2063 dated 03.08.2012. Additionally Defendant No. 3 stood as guarantor for Defendant No.1 & 2 and executed a Deed of Guarantee dated 01.08.2012 in favour of the Applicant Bank.

(OA No.216/2025)

Page 3 of 9

[AMBADAS]

The Applicant Bank further contends that, in order to secure the Loan sanctioned to them, the Defendant No. 1 & 2 created first

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charge over their immovable property by executing a registered mortgage deed bearing daybook no. 2063 dated 03.08.2012, in favour of the Applicant Bank. The mortgage was created in respect of the following property –

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i) All that piece and parcel of Agricultural land, admeasuring 0 H 40 R out of Gat No. 112, situated at Village Nandkheda, Tq. Jafrabad, Dist. Jalna, which is bounded as under: East :- Land of Sharda Kharat, West :- Land of Ganesh Jadhav, South:- Land of Uttam Jadhav, North: - Land of Ramrao Jadhav.

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ii) All that piece and parcel of Agricultural land, admeasuring 1 H 82 R out of Gat No. 113, situated at Village Nandkheda, Tq. Jafrabad, Dist. Jalna, which is bounded as under: East :- Land of Ramrao Jadhav, West :- Perculation Tank, South:- Land of Gopichand Jadhav, North: - Land of Mirabai Jadhav.

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iii) All that piece and parcel of Agricultural land, admeasuring 2 H 00 R out of Gat No. 114, situated at Village Nandkheda, Tq. Jafrabad, Dist. Jalna, which is bounded as under: East :- Land of Uttam Jadhav, West :- Jafrabad Road,

(OA No.216/2025)

Page 4 of 9

[AMBADAS]

South:- Land of Mirabai Jadhav, North: - Land of Gopichand Jadhav.

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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 defendant became irregular and classified as NPA on 30.09.2015. Therefore on 08.03.2025 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.

(OA No.216/2025)

Page 5 of 9

[AMBADAS]

The defendants failed to appear in matter though they were served through RPAD. Hence, the defendants were proceeded exparte as per Order dated 11.09.2025.

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The applicant Bank has filed Claim Affidavit of evidence at Exhibit-04 of Mr. Vitthal Onkar Chavan, POA of the applicant Bank, and has produced on record the original loan transaction documents as Exh. A-1 to A-21 as per list of documents Exh.05 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 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.

(OA No.216/2025)

Page 6 of 9

[AMBADAS]

The applicant Bank has claimed future interest @14.50%per annum from the date of filing i.e. 25.03.2025 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) on outstanding amount, it would be just and reasonable rate of interest.

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ORDER

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(A) Original Application No. 216/2025 is allowed with

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costs.

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(B) The defendants shall pay jointly and severally to the applicant Bank a sum of Rs. 39,88,430.54/- (Rupees Thirty Nine Lacs, Eighty Eight Thousand, Four Hundred Thirty and Fifty Four Paisa only), along with future interest @9% per annum (simple) from the date of filing of the Original Application i.e. 25.03.2025 till full payment/realization of the amount mentioned in this operative order.

(OA No.216/2025)

Page 7 of 9

[AMBADAS]

following immovable properties vide registered

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mortgage deed bearing daybook no. 2063 dated

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03.08.2012 at Exh. A-11 in list of documents Exh. 5.

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i) All that piece and parcel of Agricultural land, admeasuring 0 H 40 R out of Gat No. 112, situated at Village Nandkheda, Tq. Jafrabad, Dist. Jalna, which is bounded as under:

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East :- Land of Sharda Kharat, West :- Land of Ganesh Jadhav, South:- Land of Uttam Jadhav, North: - Land of Ramrao Jadhav.

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ii) All that piece and parcel of Agricultural land, admeasuring 2 H 00 R out of Gat No. 114, situated at Village Nandkheda, Tq. Jafrabad, Dist. Jalna, which is bounded as under: East :- Land of Uttam Jadhav, West :- Jafrabad Road, South:- Land of Mirabai Jadhav, North: - Land of Gopichand Jadhav.

(OA No.216/2025)

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[AMBADAS]

(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/Pronounced in open court. (Dr. J. R. Chauhan) Place: Aurangabad Presiding Officer Date:.24.12.2025 Debts Recovery Tribunal, Aurangabad

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(OA No.216/2025)

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Page 9 of 9

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[AMBADAS]

Bank of India v. Ganesh Gopichand Jadhav

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Bank of India v. Ganesh Gopichand Jadhav

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