CANARA BANK approached this Tribunal for recovery of Rs. XX Lacs. As the defendants did not appear, the Tribunal proceeded ex-parte. It granted the claim for principal with future interest and the right to sell mortgaged properties.
Recovery of Rs. 22,42,889.11 with future interest at 9% p.a.; right to sell mortgaged properties.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
Presented on: 10.06.2023 Registered on: 04.11.2023 Decided on: 17.09.2025 Duration: Y M D 02 03 07
IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 228/2023
TOTAL CLAIM AMOUNT – Rs. 22,42,889.11/-
CANARA BANK,
A Body Corporate constituted under the Banking
companies (Acquisition and Transfer of Undertaking) Act, 1970 & Having its Head Office at S P & D Wing, Head Office, 112 J C Road, Bengaluru, and having branches amongst the other places at Shrigonda, Tq. Shrigonda, Dist. Ahmednagar, through its Authorized Person, Mr. Vivek s/o Bhagwat Pawar (Senior Manager), Age: 37 yrs., Occ.; Service, R/o. Shrigonda, Tq. Shrigonda, Dist. Ahmednagar.
… Applicant
(OA No.228/2023)
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[AMBADAS]
Versus
1. Mr. Sharad Shankar Jamdade Age: Major, Occ.: Agriculture, R/o.: A/p Adhalgaon Tq. Shrigonda, Dist. Ahmednagar-413701. AND/OR Mr. Sharad Shankar Jamdade Age: Major, Occ.: Agriculture, R/o.: At Gut No. 208/A & 208/B, Kokangaon Tq. Shrigonda, Dist. Ahmednagar-413701.
2. Mr. Navnath Shankar Jamdade Age: Major, Occ.: Agriculture, R/o.: A/p Adhalgaon Tq. Shrigonda, Dist. Ahmednagar-413701. AND/OR Navnath Shankar Jamdade Age: Major, Occ.: Agriculture, R/o.: At Gut No. 208/A & 208/B, Kokangaon Tq. Shrigonda, Dist. Ahmednagar-413701.
3. Smt Indubai Shankar Jamdade Age: Major, Occ.: Agriculture, R/o.: A/p Adhalgaon Tq. Shrigonda, Dist. Ahmednagar-413701. AND/OR Indubai Shankar Jamdade Age: Major, Occ.: Agriculture, R/o.: At Gut No. 208/A & 208/B, Kokangaon Tq. Shrigonda, Dist. Ahmednagar-413701.
4. Mr. Shivprasad Bhausaheb Ubale Age: Major, Occ.: Agriculture,
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[AMBADAS]
R/o.: A/p Adhalgaon Tq. Shrigonda, Dist. Ahmednagar-413701.
…Defendants
APPEARANCES
For the Applicant Mr. K. D. Pande -Advocate For Defendants Ex-parte
JUDGMENT
Delivered on 17.09.2025
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[AMBADAS]
Defendants, the Applicant Bank sanctioned a Term loan facility
of Rs. 12,00,000/- vide sanction letter dated 20.05.2017 on certain terms and conditions. The agreed rate of interest for the aforesaid loan was @11.60% p.a. with yearly rests. The Defendants also agreed to pay additional interest @2% by way of liquidated damages in the event of any default in repayment.
In order to secure the aforesaid loan facility, the Defendants executed various loan documents in favour of the Applicant Bank. These included sanction letter, registered mortgage deed bearing daybook no. 1759 dated 22.05.2017, & hypothecation agreement etc. Additionally, defendant no. 4 stood as guarantor for defendant no. 1 to 3 and executed deed of guarantee on 29.05.2017 in favour of the Applicant Bank.
their immovable properties under 1759 dated 22.05.2017 in
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[AMBADAS]
favour of the Applicant Bank. The mortgage was created in
respect of the following properties-
i) All that piece and parcel of agricultural land admeasuring 7 H 50 R P.K. 14 R i.e. totally admeasuring 7 H 64 R to the extent of 1 H 29 R, belonging to Mr. Sharad Shankar Jamdade & area admeasuring 1 H 25 R, belonging to Mr. Navnath Shakar Jamdade out of Gut No. 208/B, situated at Village Kokangaon, Tq. Shrigonda, Dist. Ahmednagar, which is bounded as under:
East: Gut No. 207/A, West: Shiv, South: Gut No. 207/A, North: Gut No. 208/A.
ii) All that piece and parcel of agricultural land totally admeasuring 13 H 57 R P.K. 4 H 57 R i.e. 18 H 28 R to the extent of 1 H 23 R, belonging to Smt. Indubai Shankar Jamdade out of Gut No. 208/A, situated at Village Kokangaon, Tq. Shrigonda, Dist. Ahmednagar, which is bounded as under:
East: Gut No. 210, 212/A, West: Shiv, South: Gut No. 207/A, North: Shiv.
The applicant bank further states that in order to secure the aforesaid loan facility, the defendants also executed hypothecation agreement thereby hypothecating all borrowers’ present and future crop whatsoever and wherever raised or to
(OA No.228/2023)
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[AMBADAS]
be raised including standing crops on the land.
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 30.11.2018. 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.
(OA No.228/2023)
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[AMBADAS]
ex-parte as per Order dated 26.08.2025.
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[AMBADAS]
term loan from the date of filing i.e. 10.06.2023 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.
ORDER
(B) The defendants shall pay jointly and severally to the applicant Bank a sum of Rs. 22,42,889.11/- (Rupees Twenty Two Lacs, Forty Two Thousand, Eight Hundred Eighty Nine and Eleven Paisa only), along with future interest @ 9% per annum (simple) from the date of filing of the O.A. i.e. 10.06.2023 till full payment/realization of the amount mentioned in this operative order.
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[AMBADAS]
bearing daybook no. 1759 vide registered mortgage
deed dated 22.05.2017 at Exh. A-6 in list of documents
Exh. 5.
i) All that piece and parcel of agricultural land admeasuring 7 H 50 R P.K. 14 R i.e. totally admeasuring 7 H 64 R to the extent of 1 H 29 R, belonging to Mr. Sharad Shankar Jamdade & area admeasuring 1 H 25 R, belonging to Mr. Navnath Shakar Jamdade out of Gut No. 208/B, situated at Village Kokangaon, Tq. Shrigonda, Dist. Ahmednagar, which is bounded as under:
East: Gut No. 207/A, West: Shiv, South: Gut No. 207/A, North: Gut No. 208/A.
ii) All that piece and parcel of agricultural land totally admeasuring 13 H 57 R P.K. 4 H 57 R i.e. 18 H 28 R to the extent of 1 H 23 R, belonging to Smt. Indubai Shankar Jamdade out of Gut No. 208/A, situated at Village Kokangaon, Tq. Shrigonda, Dist. Ahmednagar, which is bounded as under:
East: Gut No. 210, 212/A, West: Shiv, South: Gut No. 207/A, North: Shiv.
(D) The applicant Bank is entitled to sell the mortgaged
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[AMBADAS]
and
hypothecated
properties
immovable
articles/goods, etc., to recover its dues.
(F) The Registrar is directed to send the copy of the Judgment and Recovery Certificate to the applicant and defendants.
(G) File be consigned to the record room.
Sd/-
Pronounced in open court. Place: Aurangabad Date:.17.09.2025
(Dr. J. R. Chauhan) Presiding Officer Debts Recovery Tribunal, Aurangabad
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[AMBADAS]
1 issue framed by the court
Whether the Debt Recovery Tribunal is empowered to grant adjournments or stay the proceedings without which an ex-parte recovery application cannot be disposed of.
Canara Bank
Mr. Sharad Shankar Jamdade
Mr. Navnath Shankar Jamdade
Smt Indubai Shankar Jamdade
Mr. Shivprasad Bhausaheb Ubale
Dr. J. R. Chauhan
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
