Allowed

Bank of Maharashtra v. Sanjay Parkar

DRT4 Sept 2025OA/263/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the bank's original application for recovery of an undisputed agricultural loan. After deducting penalty interest, the court ordered payment of Rs.21,11,208 plus 9% future interest, secured by mortgage on identified land.

What did the court decide?

Order allowed; defendants to jointly or severally pay Rs.21,11,208 with 9% p.a. future interest; mortgaged land secured; direction to sell; recovery certificate issued.

Bank of Maharashtra versus Sanjay Parkar — Contract and Commercial Disputes | DRT (2025)

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Presented on .. 19.05.2022 Registered on .. 18.02.2023 Decided on .. 04.09.2025 Duration .. Y—M—D 03--03--15

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IN THE DEBTS RECOVERY TRIBUNAL AT PUNE (Before Shri Dilip G. Murumkar, Presiding Officer) ORIGINAL APPLICATION No. 263/2023.

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Bank of Maharashtra, A Body Corporate established under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, having its registered office at ―Lokmangal‖, 1501, Shivajinagar, Pune – 411005 and one of its branch office at Om Shree Gurudev Datta Bujilding, Survey No. 5A, Hissa No. 3/1, At and Post Kasarveli, Sakhartar, Taluka and District Ratnagiri 415 629.

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… Applicant

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Versus

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1 Shri Sanjay Gokul Parkar, Age Adult, Occ. Agriculture, R/at – H. No. 762, At and Post Shirgaon (Gadgewadi), Taluka and District Ratnagiri 415 629.

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2 Shri Sachin Gokul Parkar, Age Adult, Occ. Agriculture, R/at – H. No. 762, At and Post

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Sanap ( OA No. 263/2023 ) 1 of 7

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Shirgaon (Gadgewadi), Taluka and District Ratnagiri 415 629.

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3 Shri Dilip Shankar Joshi, Age Adult, Occ. Business, R/at – H. No. 1286, Gitanjali bungalow, Udyam Nagar, Zadgaon, Taluka & District Ratnagiri 415 612. … 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.21,84,696/-

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JUDGMENT

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(Delivered on 04^th September, 2025)

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The Applicant Bank has filed the present application for recovery of the sum of Rs.21,84,696/- together with future interest @14.65% 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 application of defendant No.1, the applicant Bank sanctioned the following loan facilities to defendant No.1 for Mango farming and meeting the emergency requirement for agriculture and domestic purposes under Kisan Tatkal facility.

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Sanap ( OA No. 263/2023 ) 2 of 7

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Name of facility Amount Rs. Date of Sanction 1 Mahabank Kisan 15,00,000/16.09.2015 Credit Card (MKCC) 2 Term Loan 50,000/27.05.2016

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Defendant Nos. 2 and 3 stood guarantors for the repayment of loan availed by defendant No.1.

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In order to secure the aforesaid loan facility, the defendants have executed necessary loan and security documents in favour of the applicant Bank. Defendant No.1 has also executed deed of mortgage dated 22.09.2015 in respect of all that piece and parcel of agriculture land bearing Survey No.160 Hissa No. 3B admeasuring 1H 37R; Survey No.160 Hissa No. 3/2A admeasuring 1H 66.94; Survey No.160 Hissa No. 3/1A admeasuring 1H 28R and Survey No.160 Hissa No. 1B admeasuring 1H 2.20R at village Shirgaon, Taluka and District Ratnagiri, in favour of the applicant Bank. The defendants have also executed Balance Confirmation Letters on 20.09.2018, 04.06.2019 and 18.09.2021 and thereby confirmed the balance outstanding in loan accounts.

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Sanap ( OA No. 263/2023 ) 3 of 7

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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 account of the defendants as Non Performing Asset in accordance with guidelines of Reserve Bank of India. Therefore, on 16.04.2022, the 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.

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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 28.05.2025 passed below Application (Exhibit-1).

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The applicant Bank has filed Claim Affidavit of evidence (Exhibit-6) of Shri Mubasshir Siddique, 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-22 along with list (Exhibit 7), which corroborates the case of the applicant Bank.

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Sanap ( OA No. 263/2023 ) 4 of 7

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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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The applicant Bank has claimed Penal Interest of Rs.73,488/(Rs.70,769/for MKCC account + Rs.2,719/- for Term Loan account), which cannot be granted and the same is required to be deducted from the total claim amount. Therefore, the total claim amount of Rs.21,84,696/- is reduced to Rs.21,11,208/-.

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The applicant Bank has claimed future interest @14.65% 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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Sanap ( OA No. 263/2023 ) 5 of 7

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O R D E R

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A} Original Application No. 263/2023 is allowed with costs.

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B} Defendant Nos.1 to 3 either jointly or severally shall pay to the applicant Bank the sum of Rs.21,11,208/(Rupees Twenty One Lakhs Eleven Thousand Two Hundred Eight only) along with future interest @9% per annum from the date of filing of the Original Application i.e. 19.05.2022 till full payment/realization of the amount mentioned in this operative order.

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C} The aforesaid adjudicated amount is secured by the valid and subsisting mortgage in respect of all that piece and parcel of agriculture land bearing Survey No.160 Hissa No. 3B admeasuring 1H 37R; Survey No.160 Hissa No. 3/2A admeasuring 1H 66.94; Survey No.160 Hissa No. 3/1A admeasuring 1H 28R and Survey No.160 Hissa No. 1B admeasuring 1H 2.20R at village Shirgaon, Taluka and District Ratnagiri, more particularly described in the Para No. 5.7 of the Original Application.

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Sanap ( OA No. 263/2023 ) 6 of 7

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

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E} Issue Recovery Certificate.

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F} The Registrar is directed to send the copy of Judgment and Recovery Certificate to the applicant and defendants.

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Sd/( Dilip G. Murumkar ) Place : Pune Presiding Officer Date : 04.09.2025 Debts Recovery Tribunal, Pune.

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Sanap ( OA No. 263/2023 ) 7 of 7

Bank of Maharashtra v. Sanjay Parkar

Case brief

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Bank of Maharashtra v. Sanjay Parkar

Case brief

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