Allowed

Union Bank of India v. Shashikant Nandkumar Dhamdhere

DRT29 Oct 2025OA/305/2024

Case brief

AI extract

What is this about?

In Debts Recovery Tribunal proceedings, the bank sought recovery of an outstanding home and term loan of Rs. 21,26,239 from the defendant. The defendant did not appear. The Tribunal allowed the application, granted future interest at 8% p.a. simple, and enforced the mortgage charge on the defendant's flat.

What did the court decide?

The defendant shall pay Rs. 21,26,239 with future interest @8% p.a. simple; the claim is secured by the mortgage on the mortgaged flat and a Recovery Certificate is issued.

Union Bank of India versus Shashikant Nandkumar Dhamdhere — Specific Performance | DRT (2025)

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Presented on: 25.11.2023 Registered on: 30.04.2024 Decided on: 28.10.2025 Duration: Y M D 01 11 03

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IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 305/2024

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TOTAL CLAIM AMOUNT – Rs. 21,26,239/Union Bank of India, 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 New Osmanpura, Aurangabad and having it’s Asset Recovery Branch (ARB), at Plot No. 3, 1^st Floor, Sahakar Colony, Shahnoorwadi, Aurangabad, through it’s Power of Attorney, Mr. Abhaykumar Dattatray Baviskar, (Chief Manager), Age: 37 years, Occ.: Service, R/o. Plot … Applicant No. 3, 1^st Floor, Sahakar Colony, Aurangabad

(OA No.305/2024)

Page 1 of 9

[AMBADAS]

Versus

Mr. Shashikant Nandkumar Dhamdhere Age: Major, Occ.: Business, R/o.: At Flat No. 13, Plot No. 431/462, Om Sai Apartments, Opp. Manjeet Apartment, Mahanagar-I, Waluj, CIDCO, Aurangabad 431136.

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AND/OR

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Mr. Shashikant Nandkumar Dhamdhere

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Age: Major, Occ.: Business, R/o.: At R X 3/2, Home NO. 8, Chhatrapati Sankul, Wadgaon Kolhati, Bajaj Nagar, Waluj, MIDC, Aurangabad 431136.

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…Defendant

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APPEARANCES

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For the Applicant Mr. K.D. Pande -Advocate For Defendant Ex-parte

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JUDGMENT

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Delivered on 29.10.2025

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The Applicant Bank has filed the present application for the recovery of a sum of Rs. 21,26,239/- (Rupees Twenty One Lacs, Twenty Six Thousand, Two Hundred and Thirty Nine only), along with future interest from the date of filing of the Original

(OA No.305/2024)

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[AMBADAS]

Application, i.e., 25.11.2023, until the date of realization of the entire outstanding dues from the Defendant.

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Brief facts of the application are as under:

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The applicant bank states that Defendant approached the applicant bank seeking financial assistance in the form of Home Loan Facility and for business purpose. Upon scrutiny of the submitted documents, the applicant bank sanctioned a Home Loan Facility of Rs. 8,30,000/- vide sanction letter dated 09.06.2016. The agreed rate of interest was @9.65% p.a. with monthly rests. The defendant also agreed to pay an additional interest @ 2% by way of liquidated damages in case of default in repayment.

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Thereafter, the defendant had approached to the applicant bank and requested for a term loan facility. Upon considering the request and need of the defendant, the applicant bank sanctioned a term loan facility of Rs. 9,20,000/- vide sanction letter dated

(OA No.305/2024)

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[AMBADAS]

13.06.2016 on certain terms and conditions. The Agreed rate of

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interest was @11.55% p.a. with monthly rests. The defendant

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also agreed to pay an additional interest @ 2% by way of

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liquidated damages in case of default in repayment.

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In order to secure the aforesaid loan facilities, the Defendant executed various loan documents in favour of the Applicant Bank. These included sanction letters, housing loan agreement, hypothecation agreements, demand promissory notes, letters of undertaking, letter of continuity, registered mortgage deed bearing daybook no. 5995 dated 29.10.2012 etc., in favour of the

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Applicant Bank.

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The Applicant Bank further contends that, in order to secure the aforesaid loan facilities, the Defendant created first charge over his immovable property by creating equitable mortgage by way of deposit of title deeds dated 22.06.2016. The mortgage was

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created in respect of the following property:

(OA No.305/2024)

Page 4 of 9

[AMBADAS]

All that piece & parcel of Flat No. 13, admeasuring super built-up area 42.46 sq. mtrs. & carpet area 38.215 sq. mtrs. on Stilt First Floor in “Om Sai Apartment” constructed on R+C, Plot No. 431 & 462 in Growth Centre of CIDCO Waluj Mahanagar-I, Aurangabad, which is bounded as under: East: Staircase, Flat No. 16, West: 9 mtr. Wide road, North: Flat No. 14, South: Side Margin & Plot No. 432.

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The applicant bank contended that the defendant has failed to keep the promise and commitments agreed by him with regard to due repayment of the loan amount. The defendant 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 defendant to pay with the agreed rate of interest thereon, but the defendant failed and neglected to pay the same. The loan account of the defendants became irregular and classified as NPA on 28.02.2021. Therefore, on 07.09.2023 the applicant bank issued legal notice to the defendant through their advocate. Despite service of Notices, the defendant failed

(OA No.305/2024)

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[AMBADAS]

and neglected to repay the outstanding dues of the applicant Bank. Hence, this application is filed.

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The defendant failed to appear in matter though he was served through court commissioner. Hence, the defendant was proceeded ex-parte as per Order dated 10.03.2025.

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The applicant Bank has filed Claim Affidavit of evidence at Exhibit-4 of Abhaykumar Dattatray Baviskar, Chief Manager of the applicant Bank, and has produced on record the original loan transaction documents as Exh. A-1 to A-27 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.

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Since the defendant 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.

(OA No.305/2024)

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[AMBADAS]

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

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The applicant Bank has claimed future interest @8.85% p.a. from the date of filing i.e. 25.11.2023 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 @ 8% per annum (simple) on outstanding amount, it would be just and reasonable rate of interest.

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ORDER

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(A) Original Application No. 305/2024 is allowed with

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costs.

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(B) The defendant shall pay to the applicant Bank a sum of Rs. 21,26,239/- (Rupees Twenty One Lacs, Twenty Six Thousand, Two Hundred and Thirty Nine only), along with future interest @ 8% per annum (simple) from the date of filing of the O.A. i.e. 25.11.2023 till full

(OA No.305/2024)

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[AMBADAS]

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 property by ways of title deeds dated 22.06.2016 at Exh. A-17 to A-20 in list of documents Exh. 5.

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