Allowed

Bank of Maharashtra v. M/s Mahalaxmi Agro, through Its Proprietor Mr. Sudarshan S/O. Hygriva Rao

DRT12 Dec 2025OA/234/2022

Case brief

AI extract

What is this about?

The Tribunal allowed an application under Section 19 of the RDB Act, 1993 by Bank of Maharashtra against defaulting borrowers for recovery of Rs. 20.76 lakhs plus future interest, declaring charge on hypothecated goods and issuing a recovery certificate.

What did the court decide?

Order allowed; defendants to pay Rs. 20,76,183 with future interest; charge declared on hypothecated goods; recovery certificate issued.

Bank of Maharashtra versus M/s Mahalaxmi Agro, through Its… — Banking and Recovery | DRT (2025)

¶1

Page 1 of 3 O.A. No. 234/2022

¶2

PRESENTED ON : 21.02.2022 REGISTERED ON : 20.07.2022

¶3

Exh. No. 16

¶4

BEFORE THE PO, DEBTS RECOVERY TRIBUNAL, NAGPUR

¶5

Delivered by Pankaj Kumar

¶6

O.A. No. 234/2022

¶7

Bank of Maharashtra

¶8

: Applicant

¶9

A banking company constituted under the banking companies (Acquisition and transfer of Undertaking) Act V of 1970, Having its head Office at 1501, Shivajinagar, Lokmangal, Pune 411005 and having branches all over India and abroad including one at Sitabuldi Branch Nagpur 440012, Phone No. 0712 2545008, 2545009 Email [email protected] IFSC CODE MAHB0000005 acting through its one of the Principal Officer i.e. Chief Manager Mr. Arvind Mishra, who is having authority to sign and file the present O.A. and also act and represent the Bank.

¶10

Versus

¶11

1. M/s Mahalaxmi Agro, Through its Prop,

¶12

: Defendants

¶13

Mr. Sudarshan S/o Hygriva Rao,

¶14

Age About Major, Occu. Business R/o House No. 7, Sangam Chawl No. 5 Behind Haldiram Foods, Sitabuldi, Nagpur 440012

¶15

2. Mr. Sudarshan S/o Hygriva Rao,

¶16

Age About Major, Occu. Business R/o House No. 7, Sangam Chawl No. 5 Behind Haldiram Foods, Sitabuldi,

¶17

Nagpur 440012

¶18

3. Mr. Guruprasad S/o Hygriva Rao

¶19

PAN NO. AFFPR7783F

¶20

Age About Major, Occu. Business

¶21

R/o House No. 7, Sangam Chawl No. 5

¶22

Page 2 of 3 O.A. No. 234/2022

¶23

Behind Haldiram Foods, Sitabuldi,

¶24

Nagpur 440012

¶25

Learned Counsel for Applicant	Adv. Ashwini Sakhare
Defendants Set Exparte On	23.04.2024

¶26

JUDGMENT

¶27

(Delivered on 12^TH Day of December, 2025)

¶28

This is an application filed by the applicant U/s 19 of RDB Act, 1993 against defendants for recovery of aggregate amount of Rs. 20,76,183/- outstanding in Term Loan Account No. 60239065346 with costs and future interest @ 9.60% p.a. with monthly rests from the date of filing of O.A. till the date of realization.

¶29

Though, defendants were duly served with the suit summons vide Exh. 5, 6,11 & 12 they failed to cause appearance before this Tribunal to defend their case despite granting several adjournments. Hence , the proceeding against defendant nos. 1 to 3 was set exparte on 23.04.2024.

¶30

The applicant has filed its Claim Affidavit (Exh. 13) alongwith List of Documents (Exh. 14), annexing therewith 11 documents. The original documents therein are marked as Exh. AW-1/1 to AW-1/10. The applicant has stated in the O.A. as well as in claim affidavit that no penal interest has been charged in the Loan Account.

¶31

Heard Learned counsel for the applicant.

¶32

As stated supra, defendants remained exparte. The Evidence Affidavit coupled with the recitals in the documents viz. Exh. AW -1/1

¶33

Page 3 of 3 O.A. No. 234/2022

¶34

to AW-1/10 marked on behalf of the applicant, clinches the claim of the applicant against defendants. There is no reason to disbelieve the evidence adduced on behalf of applicant. Hence, defendants are liable to pay, jointly and severally, the claim of the applicant with costs and future interest.

¶35

Hence, it is ordered as under:-

¶36

ORDER

¶37

A] O.A. No. 234/2022 is allowed to the extent as under with costs.

¶38

B] Defendants to pay jointly and severally to the applicant bank an amount of Rs. 20,76,183/- (Twenty Lakhs Seventy Six Thousand One Hundred Eighty Three Only) outstanding in Term Loan Account No. 60239065346 with costs and future interest @ 9% p.a. from the date of filing of O.A. till its realization.

¶39

C] It is declared that charge of outstanding dues has been kept on hypothecated goods of defendants as described in Schedule- I in O.A and as referred in Exh. AW-1/5.

¶40

D] Issue Recovery Certificate accordingly.

¶41

E] The Registrar is directed to send the copy of Judgment and Recovery Certificate to the parties to this O.A at once.

¶42

Nagpur

¶43

Date: 12.12.2025

¶44

(Pankaj Kumar) Presiding Officer Debts Recovery Tribunal Nagpur

Bank of Maharashtra v. M/s Mahalaxmi Agro, through Its Proprietor Mr. Sudarshan S/O. Hygriva Rao

Case brief

What is this about?

What did the court decide?

Bank of Maharashtra v. M/s Mahalaxmi Agro, through Its Proprietor Mr. Sudarshan S/O. Hygriva Rao

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

Similar cases

M/s Parin International versus Idbi Bank Ltd.

Punjab National Bank versus Sh Balwinder Singh

Canara Bank versus Sh. Balraj Singh

Amit Das versus Icici Bank Limited

Canara Bank versus Anmol Khanna

Punjab National Bank versus Radish Trading Pvt. Ltd.