Allowed

Uco Bank v. Mahendra Narutepatil

DRT24 Jul 2025OA/249/2023

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed the bank's original application for recovery of loan dues. Upon ex-parte proceeding, the court sanctioned principal amounts and approved a reduced future interest rate of 9% per annum, granting power to sell mortgaged land.

What did the court decide?

Original Application allowed; Defendants to pay specified principal amounts plus 9% p.a. interest; Power to sell mortgaged property granted; Recovery Certificate issued.

Uco Bank versus Mahendra Narutepatil — Contract and Commercial Disputes | DRT (2025)

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Presented on .. 12.08.2022 Registered on .. 18.02.2023 Decided on .. 24.07.2025 Duration .. Y—M—D 02--11--12

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IN THE DEBTS RECOVERY TRIBUNAL AT PUNE (Before Shri Dilip G. Murumkar, Presiding Officer) ORIGINAL APPLICATION No. 249/2023.

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UCO Bank,

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A Corporate Body constituted under the Banking Companies (Acquisition & Transfer of Undertakings) Act 1970 and having its head office at 10, B.T.M. Sarani, Kolkata and branch office at - Market Yard, Indapur Road, Baramati, Taluka Baramati, District Pune.

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… Applicant

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Versus

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1 Shri Mahendra Bapurao Narutepatil, Age Adult, Occ. Agriculture, R/at – At and Post Kazad, Taluka Indapur, District Pune 413 104.

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2 Shri Bapurao Ganpat Narute, Age Adult, Occ. Agriculture, R/at – At and Post Kazad, Taluka Indapur, District Pune 413 104.

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3 Shri Annso Dattu Narute, Age Adult, Occ. Agriculture,

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R/at – At and Post Kazad, Taluka Indapur, District Pune 413 104.

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Sanap ( OA No. 249/2023 ) 1 of 7

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4 Shri Rajesh Bapurao Narute, Age Adult, Occ. Agriculture, R/at – At and Post Kazad, Taluka Indapur, District Pune 413 104. … Defendants

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:- Appearances

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For Applicant Advocate R.B. Ganbote. For Defendants Ex parte.

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Total Claim Amount – Rs.29,12,107/-

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JUDGMENT

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(Delivered on 24^th July, 2025)

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The Applicant Bank has filed the present application for recovery of the sum of Rs.29,12,107/- together with future interest @11.45% 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 :-

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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 Date of Sanction

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1 Crop Loan (KCC) 3,00,000/19.07.2010 2 Crop Loan (KCC) 3,00,000/30.12.2014 3 Kisan Credit Card (KCC) 15,18,000/17.04.2017

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Sanap ( OA No. 249/2023 ) 2 of 7

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Defendant No.2 stood guarantor for the repayment of loan availed by defendant No.1 on 19.07.2010; defendant No. 3 stood guarantor for the repayment of loan availed by defendant No.1 on 30.12.2014 and defendant Nos. 3 and 4 stood guarantors for the repayment of loan availed by defendant No.1 on 17.04.2017.

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In order to secure the aforesaid loan facilities, the defendants have executed necessary loan and security documents in favour of the applicant Bank. Defendant No.1 has also executed ‘E’ Karar (Declarative Mortgage) on 13.07.2010, 10.06.2014 and 17.03.2017 in respect of all that piece and parcel of agriculture land bearing Gat No. 434 (P) and 437 (P) admeasuring 3H 36R at village Kazad, Taluka Indapur, District Pune, in favour of the applicant Bank. Defendant No.1 has also executed Acknowledgments on 31.03.2020 and thereby confirmed the balance outstanding in loan accounts.

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The applicant Bank contended that the defendants committed defaults in payment of installments and failed to regularize the accounts. Hence, the applicant Bank has classified the accounts of the defendants as Non Performing Asset in accordance with guidelines of Reserve Bank of India. Therefore, on 21.07.2022, the

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Sanap ( OA No. 249/2023 ) 3 of 7

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applicant Bank issued Recall Notice to the defendants. Despite service of Notice, the defendants failed and neglected to pay the outstanding 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 11.04.2025 passed below Application (Exhibit-1).

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The applicant Bank has filed Claim Affidavit of evidence (Exhibit-6) of Shri Manoj Ambadas Panpatil, Branch Manager and Principal Officer of the applicant Bank, and has produced on record the original loan transaction documents at Sr. Nos. AW-1 to AW-31 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

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Sanap ( OA No. 249/2023 ) 4 of 7

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description with respect to the hypothecated assets, therefore, the relief in terms of hypothecated assets cannot be granted.

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The applicant Bank has claimed future interest @11.45% per annum. 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.

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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. 249/2023 is allowed with costs.

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B} Defendant Nos.1 and 2 either jointly or severally shall pay to the applicant Bank the sum of Rs.5,05,579/(Rupees Five Lakhs Five Thousand Five Hundred Seventy Nine only) towards KCC loan facility along with future interest @9% per annum from the date of filing of the Original Application i.e. 12.08.2022 till full payment/realization of the amount mentioned in this operative order.

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C} Defendant Nos.1 and 3 either jointly or severally shall pay to the applicant Bank the sum of Rs.4,25,609/(Rupees Four Lakhs Twenty Five Thousand Six

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Sanap ( OA No. 249/2023 ) 5 of 7

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Hundred Nine only) towards KCC loan facility along with future interest @9% per annum from the date of filing of the Original Application i.e. 12.08.2022 till full payment/realization of the amount mentioned in this operative order.

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D} Defendant Nos.1, 3 and 4 either jointly or severally shall pay to the applicant Bank the sum of Rs.19,80,919/(Rupees Nineteen Lakhs Eighty Thousand Nine Hundred Nineteen only) towards KCC loan facility along with future interest @9% per annum from the date of filing of the Original Application i.e. 12.08.2022 till full payment/realization of the amount mentioned in this operative order.

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E} The aforesaid adjudicated amount is secured by the valid and subsisting mortgage in respect of all that piece and parcel of agriculture land bearing Gat No. 434 (P) and 437 (P) admeasuring 3H 36R at village Kazad, Taluka Indapur, District Pune, more particularly described in the Para Nos. 5.7, 5.14 and 5.21 of the Original Application.

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

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G} Issue Recovery Certificate.

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Sanap ( OA No. 249/2023 ) 6 of 7

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H} The Registrar is directed to send the copy of Judgment 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 : 24.07.2025 Debts Recovery Tribunal, Pune.

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Sanap ( OA No. 249/2023 ) 7 of 7

Uco Bank v. Mahendra Narutepatil

Case brief

What is this about?

What did the court decide?

Uco Bank v. Mahendra Narutepatil

Case brief

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