Allowed

Union Bank of India v. Changdeo Sahebrao Mhaske (Deceased)

DRT22 Sept 2025OA/284/2024

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed an application filed by Union Bank of India for recovery of a term loan of Rs. 26,56,322/- and future interest. The tribunal directed payment jointly and severally and ordered enforcement of mortgages over agricultural lands. Future interest was awarded at 9% simple per annum.

What did the court decide?

Defendants jointly and severally to pay Rs. 26,56,322/- plus future interest at 9% p.a. (simple) from 20.09.2023. Applicants entitled to sell mortgaged properties to recover dues and issue Recovery Ce

Union Bank of India versus Changdeo Sahebrao Mhaske (Deceased) — Specific Performance | DRT (2025)

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Presented on: 20.09.2023 Registered on: 20.04.2024 Decided on: 22.09.2025 Duration: Y M D 02 00 02

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IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 284/2024

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TOTAL CLAIM AMOUNT – Rs. 26,56,322/-

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Union Bank of India,

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A Body Corporate constituted under the Banking companies (Acquisition and Transfer of Undertakings) Act 1970, Having its Registered office at 239, Vidhan Bhavan Marg, Nariman Point, Mumbai-400021 & having branches amongst the other places at Kolpewadi, Tq. Kopergaon, Dist. Ahmednagar and having it’s Asset Recovery Branch (ARB), at Plot No. 3, 1^st Floor, Sahakar Colony, Shahanoorwadi, Aurangabad, through its Power of Attorney, Mr. Abhaykumar Dattatray Baviskar, (Chief Manager), Age: 37 years, Occ.: Service, R/o. Plot No. 3, 1^st Floor, Sahakar Colony, Shahnoorwadi, Aurangabad 431005.

… Applicant

(OA No.284/2024)

Page 1 of 11

[AMBADAS]

Versus

1. Mr. Changdeo Sahebrao Mhaske (deceased) Through its Legal Heirs, i) Smt. Alka Changdeo Mhaske Age: Major, Occu.: Agriculture, R/o.: At Bharatpur, Post. Shaha. Tq. Sinnar, Dist. Nashik-422 104.

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ii) Mr. Shubham Changdeo Mhaske Age: Major, Occu.: Agriculture, R/o.: At Bharatpur, Post. Shaha. Tq. Sinnar, Dist. Nashik-422 104.

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iii) Ku. Mayuri Changdeo Mhaske Age: Major, Occu.: Agriculture, R/o.: At Bharatpur, Post. Shaha. Tq. Sinnar, Dist. Nashik-422 104.

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iv) Ku. Komal Changdeo Mhaske Age: Major, Occu.: Agriculture, R/o.: At Bharatpur, Post. Shaha. Tq. Sinnar, Dist. Nashik-422 104.

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2. Mr. Suresh Sahebrao Mhaske,

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Age: Major, Occu.: Agriculture, R/o.: At Bharatpur, Post. Shaha. Tq. Sinnar, Dist. Nashik-422 104. AND/OR Mr. Suresh Sahebrao Mhaske, Age: Major, Occu.: Agriculture, R/o.: Gut No. 206, Village Kolegaon, Tq. Sinnar, Dist. Nashik-422 104.

(OA No.284/2024)

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[AMBADAS]

3. Mr. Raosaheb Gangadhar Gorde, Age: Major, Occu.: Agriculture, R/o.: At Bharatpur, Post. Shaha. Tq. Sinnar, Dist. Nashik-422 104.

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4. Mr. Suresh Sopan Bharsakal, Age: Major, Occu.: Agriculture, R/o.: At Bharatpur, Post. Shaha. Tq. Sinnar, Dist. Nashik-422 104.

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…Defendants

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APPEARANCES For the Applicant For Defendants

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Mr. K. D. Pande -Advocate Ex-parte

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JUDGMENT

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Delivered on 22.09.2025

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The Applicant Bank has filed the present application for the

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recovery of a sum of Rs. 26,56,322/- ( Rupees Twenty Six Lacs, Fifty Six Thousand, Three Hundred and Twenty Two only), along with future interest from the date of filing of the Original Application, i.e., 20.09.2023, until the date of realization of the entire outstanding dues from the Defendants.

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Brief facts of the application are as under:

(OA No.284/2024)

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[AMBADAS]

The Applicant Bank states that the Defendant No. 1 (now deceased) and 2 approached and requested the Applicant Bank for Term loan facility. Upon considering the request and financial needs of the Defendants, the Applicant Bank sanctioned a Term loan facility of Rs. 13,40,000/- lacs vide sanction letter dated 11.02.2016 on certain terms and conditions. The agreed rate of interest for the aforesaid loan was @12.15% p.a. with half yearly rests. The Defendants also agreed to pay additional interest @2%

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by way of liquidated damages in the event of any default in repayment.

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In order to secure the aforesaid loan facility, the Defendant No. 1 & 2 executed various loan documents in favour of the Applicant Bank. These included sanction letter, letter of undertaking, hypothecation agreement, demand promissory note, etc., in favour of the applicant bank. Additionally defendant No. 3 & 4

(OA No.284/2024)

Page 4 of 11

[AMBADAS]

stood as guarantors for defendant No. 1 & 2 and executed deed of

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guarantee dated 08.03.2016 in favour of the applicant bank.

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The Applicant Bank further contends that, in order to secure the aforesaid loan facility, the Defendants created first charge over their immovable property under (Anusuchi) u/s 5 (1) of Maharashtra State Finance Fund Act 1974 dated 23.02.2016 in favour of the Applicant Bank. The mortgage was created in respect of the following properties-

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i) All that piece and parcel of agricultural land admeasuring 1 H 41 R, out of Gut No. 183, situated at Village Laxmanpur, Tq. Sinnar Dist. Nashik, which is bounded as under:

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East: Gut No. 180, West: Gut No. 187, South: Gut No. 184, North: Gut No. 182.

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ii) All that piece and parcel of agricultural land admeasuring 1 H 42 R, out of Gut No. 184, situated at Village Laxmanpur, Tq. Sinnar Dist. Nashik, which is bounded as under:

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East: Gut No. 180, West: Gut No. 187, South: Gut No. 185, North: Gut No. 183,

(OA No.284/2024)

Page 5 of 11

[AMBADAS]

iii) All that piece and parcel of agricultural land admeasuring 0 H 60 R, out of Gut No. 206, situated at Village Kolegaon Mal, Tq. Sinnar Dist. Nashik, which is bounded as under:

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East: Gut No. 205, West: Gut No. 206 Part, South: Gut No. 203, North: Shiv.

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iv) All that piece and parcel of agricultural land admeasuring 0 H 80 R, out of Gut No. 206, situated at Village Kolegaon Mal, Tq. Sinnar Dist. Nashik, which is bounded as under:

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East: Gut No. 205, West: Gut No. 206 P, South: Gut No. 203, North: Shiv.

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The applicant bank contended that the defendants have failed to 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

(OA No.284/2024)

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[AMBADAS]

to pay the same. The loan account of the defendants became irregular and classified as NPA on 31.03.2023. Therefore, on 27.07.2023 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.

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The defendants appeared in matter but failed to file written statement. Hence, the right of defendants to file written statement stands close as per Order dated 03.06.2024.

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The applicant Bank has filed Claim Affidavit of evidence at Exhibit-4 of Kapil Vijaysingh Bilwas, power of attorney holder of the applicant Bank and produced on record the original loan transaction documents as Exh. A-1 to A-15 along with list of documents Exh.5 which corroborates the case of the applicant Bank.

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I have heard arguments of the learned Advocate for the applicant Bank.

(OA No.284/2024)

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[AMBADAS]

Since the defendants failed to appear and contest the application, I find no reason to disbelieve the unrebutted evidence of the applicant Bank. Therefore, the applicant Bank is entitled for the reliefs as claimed.

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The applicant Bank has claimed charge over immovable properties of the borrowers which is mortgaged in favour of the applicant bank.

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The applicant Bank has claimed future interest @12.15 p. a. on term loan from the date of filing i.e. 20.09.2023 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.

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ORDER

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(A) Original Application No. 284/2024 is allowed with costs.

(OA No.284/2024)

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[AMBADAS]

(B) The defendants shall pay jointly and severally to the applicant Bank a sum of Rs. 26,56,322/- ( Rupees Twenty Six Lacs, Fifty Six Thousand, Three Hundred and Twenty Two only), along with future interest @ 9% per annum (simple) from the date of filing of the O.A. i.e. 20.09.2023 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 mortgage of the following immovable properties. Vide annexure (Anusuchi) u/s 5 (1) of Maharashtra State Finance Fund Act 1974 dated 23.02.2016 at Exh. A-8 in the list of documents Exh. 5.

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i) All that piece and parcel of agricultural land admeasuring 1 H 41 R, out of Gut No. 183, situated at Village Laxmanpur, Tq. Sinnar Dist. Nashik, which is bounded as under:

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East: Gut No. 180, West: Gut No. 187, South: Gut No. 184, North: Gut No. 182.

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ii) All that piece and parcel of agricultural land admeasuring 1 H 42 R, out of Gut No. 184, situated at

(OA No.284/2024)

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[AMBADAS]

Village Laxmanpur, Tq. Sinnar Dist. Nashik, which is bounded as under:

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East: Gut No. 180, West: Gut No. 187, South: Gut No. 185, North: Gut No. 183,

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iii) All that piece and parcel of agricultural land admeasuring 0 H 60 R, out of Gut No. 206, situated at Village Kolegaon Mal, Tq. Sinnar Dist. Nashik, which is bounded as under:

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East: Gut No. 205, West: Gut No. 206 Part, South: Gut No. 203, North: Shiv.

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iv) All that piece and parcel of agricultural land admeasuring 0 H 80 R, out of Gut No. 206, situated at Village Kolegaon Mal, Tq. Sinnar Dist. Nashik, which is bounded as under:

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East: Gut No. 205, West: Gut No. 206 P, South: Gut No. 203, North: Shiv.

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(D) The applicant Bank is entitled to sell the mortgaged immovable properties and hypothecated articles/goods etc., to recover its dues.

(OA No.284/2024)

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[AMBADAS]

(E) Issue Recovery Certificate accordingly.

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

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(G) File be consigned to the record room.

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Sd/-

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Pronounced in open court. Place: Aurangabad Date:.22.09.2025

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(Dr. J. R. Chauhan) Presiding Officer Debts Recovery Tribunal, Aurangabad

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(OA No.284/2024)

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Page 11 of 11

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[AMBADAS]

Union Bank of India v. Changdeo Sahebrao Mhaske (Deceased)

Case brief

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Union Bank of India v. Changdeo Sahebrao Mhaske (Deceased)

Case brief

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