Allowed

Idbi Bank v. Rupali

DRT8 May 2025OA/239/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal, Pune, ex-parte application filed by IDBI Bank Limited for recovery of dues from borrowers and guarantors. The court allowed the application, modifying future interest rates and adjusting the claim amounts by deducting excessive penal interest, granting recovery of the principal balance with future interest and authority to sell mortgaged land.

What did the court decide?

Defendants to pay principal amounts totaling approx. Rs. 27.72 Lakhs with future interest at 9% p.a.; Rights to sell mortgaged land granted; Recovery Certificate issued.

Idbi Bank versus Rupali — Specific Performance | DRT (2025)

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Presented on .. 09.06.2022 Registered on .. 18.02.2023 Decided on .. 08.05.2025 Duration .. Y—M—D 02--10--29

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IN THE DEBTS RECOVERY TRIBUNAL AT PUNE (Before Shri Dilip G. Murumkar, Presiding Officer) ORIGINAL APPLICATION No. 239/2023.

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IDBI Bank Limited, A Company incorporated and registered under the Indian Companies Act, 1956 (1/1956) and a company within the meaning of Section 2 (20) of the Companies Act, 2013 (18 of 2013) and a Banking Company under Section 5(c) of the Banking Regulation Act, 1949 (10 of 1949), having its registered office at IDBI Tower, WTC Complex, Cuffe Parade, Colaba, Mumbai 400 005 and branch at – Shri Krupa, CS No. 4158/A, Maidan Datta Mandir, Miraj, District Sangli 416 410.

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… Applicant

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Versus

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1 Rupali Dadaso Mali, Age 42 years, Occ. Agri. & Business, R/o : Near Shambhuppa Mandir Kokane Galli, At Village Malgaon, Taluka Miraj, District Sangli 416 407.

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Sanap ( OA No.239/2023 ) 1 of 9

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2 Mr. Dadaso Ganapati Mali, Age 48 years, Occ. Agri. & Business, R/o : At Village Malgaon, Taluka Miraj, District Sangli 416 407.

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3 Mr. Avinash Bapuso Kabadage, Age 52 years, Occ. Agri. & Business, R/o : Malgaon, Taluka Miraj, District Sangli 416 407.

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4 Mr. Gangadhar Prabhu Yelparatte, Age 52 years, Occ. Agri. & Business, R/o : Malgaon, Taluka Miraj, District Sangli 416 407.

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5 Mr. Sachin Shripal Mhaisale, Age 42 years, Occ. Agri. & Business, R/o : Malgaon, Taluka Miraj, District Sangli 416 407.

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6 Mr. Dagadu Krishna Mali, Age -- years, Occ. Agriculturist, R/o : Mali Vasti, Malgaon, Taluka Miraj, District Sangli 416 407. … Defendants

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:- Appearances

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For Applicant Adv Parth Barsode i/b Adv Nikhil Barsode. For Defendants Ex parte.

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Total Claim Amount – Rs.28,01,034/-

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JUDGMENT (Delivered on 08^th May, 2025)

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The Applicant Bank has filed the present application for recovery of the sum of Rs.28,01,034/- together with future interest for AMTL facility @10.15% per annum; for

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Sanap ( OA No.239/2023 ) 2 of 9

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FKCC facility @9.30% per annum and for FITL @9.90% per annum from the date of Application till realization of the entire dues from the defendants.

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Brief facts of the application are as under :- Defendant No.1 is farmer and owner of land bearing Gat Nos. 648, 667 and 698 at village Malgaon and was in need of financial assistance. As per the loan applications of defendant No.1, the applicant Bank sanctioned the following loan facilities to defendant No.1.

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Name of facility	Amount Rs.	Date of Sanction
1 AMTL	10,00,000/-	30.06.2015
2 AMTL	10,00,000/-	30.05.2017
3 Cash Credit	5,00,000/-	16.05.2019
4 FITL	52,908/-	Moratorium repayable by 31.03.2021.

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Defendant Nos. 2 to 4 supplemented request for AMTL sanctioned on 30.06.2015 and defendant Nos. 3 and 4 also stood guarantors for the repayment of said loan availed by defendant No.1.

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Further, defendant Nos. 2 and 5 supplemented request for AMTL sanctioned on 30.05.2017 and stood guarantors for the repayment of said loan availed by defendant No.1.

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Sanap ( OA No.239/2023 ) 3 of 9

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Further, defendant Nos. 2 and 6 supplemented request for Cash Credit facility of Rs.5,00,000/- and stood guarantors for the repayment of Cash Credit facility availed by defendant No.1.

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In order to secure the aforesaid loan facility, the defendants executed loan and necessary security documents in favour of the applicant Bank. Moreover, defendant Nos. 1 and 2 have also executed registered mortgage deed dated 02.07.2015 and mortgaged Agricultural land bearing Gat No. 648 area admeasuring 1H 20R out of total area; Gat No. 667 area admeasuring 55R out of total area and Gat No. 698 area admeasuring 81R out of total area, situated at Malgaon, Taluka Miraj, District Sangli, in favour of the applicant Bank.

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The applicant Bank contended that the defendants committed defaults in payment of installments and failed to regularize the accounts. Hence, on 29.06.2021, the applicant Bank has classified the account of the defendants as Non Performing Asset in accordance with guidelines of Reserve Bank of India. Therefore, on 04.08.2021 and 12.01.2022, the applicant Bank issued legal Notice to the defendants. Despite service of Notice, the defendants failed and neglected to pay the outstanding

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Sanap ( OA No.239/2023 ) 4 of 9

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dues of the applicant Bank. Hence, this application is filed.

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The defendants failed to appear despite service of summons. Hence, the application proceeded ex-parte against the defendants as per Order dated 24.03.2025 passed below Application (Exhibit-1).

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The applicant Bank has filed Claim Affidavit of evidence (Exhibit-6) of Mr. Jayant Gandhe, Branch Head holding DOP for and on behalf of the applicant Bank, and has also produced on record the original loan transaction documents at Sr. Nos. AW1/1 to AW1/27 along with list (Exhibit 7), 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 evidence of the applicant Bank. Therefore, the applicant Bank is entitled for reliefs as claimed.

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The applicant Bank has claimed relief in respect of hypothecated assets. However, there is no detailed description with respect to the hypothecated assets, therefore, the relief in terms of hypothecated assets cannot be granted.

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Sanap ( OA No.239/2023 ) 5 of 9

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The applicant Bank has claimed Penal Interest for AMTL Account No. 0537673100001342 of Rs.21,777/-, which cannot be granted and the same is required to be deducted from the total claim amount. Therefore, the total claim amount of AMTL Account No. 0537673100001342 of Rs.12,97,989/- is reduced to Rs.12,76,212/-.

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Further, the applicant Bank has claimed Penal Interest for AMTL Account No. 0537673100000596 of Rs.9,256/-, which cannot be granted and the same is required to be deducted from the total claim amount. Therefore, the total claim amount of AMTL Account No. 0537673100000596 of Rs.8,51,087/is reduced to Rs.8,41,831/-.

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The applicant Bank has claimed Penal Interest for FITL Account of Rs.1,042/-, which cannot be granted and the same is required to be deducted from the total claim amount. Therefore, the total claim amount of FITL Account of Rs.52,086/- is reduced to Rs.51,044/-.

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The applicant Bank has claimed future interest for AMTL facility @10.15% per annum; for FKCC facility @9.30% per annum and for FITL @9.90% per annum. However,

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Sanap ( OA No.239/2023 ) 6 of 9

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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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Hence, I pass the following order.

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O R D E R

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A} Original Application No. 239/2023 is allowed with proportionate costs.

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B} Defendant Nos.1 to 4 either jointly or severally shall pay to the applicant Bank the sum of Rs.8,51,087/- (Rupees Eight Lakhs Fifty One Thousand Eighty Seven only) along with future interest @9% per annum from the date of filing of the Original Application i.e. 09.06.2022 till full payment/realization of the amount mentioned in this operative order.

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C} Defendant Nos.1, 2 and 5 either jointly or severally shall pay to the applicant Bank the sum of Rs.12,76,212/(Rupees Twelve Lakhs Seventy Six Thousand Two Hundred Two only) along with future interest @9% per annum from the date of filing of the Original Application i.e. 09.06.2022 till full payment/realization of the amount mentioned in this operative order.

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D} Defendant Nos.1, 2 and 6 either jointly or severally shall pay to the applicant Bank the sum of Rs.5,99,872/-

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Sanap ( OA No.239/2023 ) 7 of 9

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(Rupees Five Lakhs Ninety Nine Thousand Eight Hundred Seventy Two only) along with future interest @9% per annum from the date of filing of the Original Application i.e. 09.06.2022 till full payment/realization of the amount mentioned in this operative order.

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E} Defendant No.1 shall pay to the applicant Bank the sum of Rs.51,044/- (Rupees Fifty One Thousand Forty Four only) along with future interest @9% per annum from the date of filing of the Original Application i.e. 09.06.2022 till full payment/realization of the amount mentioned in this operative order.

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F} The aforesaid adjudicated amount is secured by the valid and subsisting mortgage of Agricultural land bearing Gat No. 648 area admeasuring 1H 20R out of total area; Gat No. 667 area admeasuring 55R out of total area and Gat No. 698 area admeasuring 81R out of total area, situated at Malgaon, Taluka Miraj, District Sangli, more particularly described in the Para No. 5.17 and Schedule-I of the Original Application.

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G} The applicant Bank is entitled to sell the mortgaged property to recover its dues.

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H} Issue Recovery Certificate. I} The Registrar is directed to send the copy of Judgment

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Sanap ( OA No.239/2023 ) 8 of 9

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and Recovery Certificate to the applicant and

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defendants.

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Sd/( Dilip G. Murumkar ) Place : Pune Presiding Officer Date : 08.05.2025 Debts Recovery Tribunal, Pune.

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Sanap ( OA No.239/2023 ) 9 of 9

Idbi Bank v. Rupali

Case brief

What is this about?

What did the court decide?

Idbi Bank v. Rupali

Case brief

What is this about?

What did the court decide?

What the court decided

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