The Debts Recovery Tribunal allowed the Punjab National Bank's application for recovery of Rs. 23,49,165/- plus future interest of 7% p.a. from defendants who failed to repay a housing loan, securing the decree over mortgaged properties.
Defendants to pay Rs. 23,49,165/- with future interest @ 7% p.a. (simple); right to sell mortgaged property.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
Presented on: 16.06.2022 Registered on: 22.08.2022 Decided on: 01.10.2025 Duration: Y M D 03 03 15
IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 353/2022
TOTAL CLAIM AMOUNT – Rs. 23,49,165/-
Punjab National Bank,
(A Body Corporate constituted under the Banking companies (Acquisition and Transfer of Undertakings) Act,5 of 1970 carrying on banking business and having its Head Office at Plot No. 4, Sector-10, Dwarka, New Delhi-110075, And one of Branche, at Maharana Pratap Road, New Plot, Amalner, Tq. Amalner, District Jalgaon, also one of their office (Circle SASTRA Center) at Shop No. 2 & 3 Sneh Height Apartment Indira Nagar, Nashik 422009 were files of the accounts has been transferred for recovery and monitory purpose. Through its Principal Officer/ Manager Shri. Rahul Patil, Age: 32 years., Occ.: Service, R/o.: Nashik.
… Applicant
Versus
(OA No.353/2022)
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[AMBADAS]
1. Vrushali Vijay Patil,
Age: Major, Occu.: Business, R/o.: T. P. No. 164, Plot No. 12, Yash Plaza, Ground Floor, Flat No. G-2, Near Swami Samarth Temple, Amalner, Tq. Amalner, District Jalgaon-425401. AND Saisiddhi Apartment Patwari Co., Amalner, Tq. Amalner, District Jalgaon-425401.
2. Shri. Sunil Bhalerao Pawar,
Age: Major, Occu.: Business, R/o.: At Post Galwade Kh., Tq. Amalner, District Jalgaon.
…Defendants
APPEARANCES
For the Applicant For Defendant
Mr. Atul A. Mishra -Advocate Ex-parte
JUDGMENT
Delivered on 01.10.2025
(OA No.353/2022)
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[AMBADAS]
Brief facts of the application are as under:
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[AMBADAS]
the order dated 22.09.2025. Additionally defendant No. 2 stood as
guarantor for defendant No. 1 and executed deed of guarantee on
24.10.2016 in favour of the applicant bank.
the order dated 22.09.2025. The mortgage was created in respect of the following properties:
All that piece and parcel of T.P. No. 164, Plot No. 12, admeasuring 45.16 Sq. Mtrs., Yash Plaza Ground Floor, Flat No. G-2, Near Swami Samarth Temple and HP Gas Office, Amalner, Tq. Amalner, District Jalgaon which is bounded as under:
East: Road and Use, West: Wall Compound, North: Wall Compound, South: Flat No. G-1.
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[AMBADAS]
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[AMBADAS]
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[AMBADAS]
am of the opinion that if future interest is granted @ 7% per annum (simple), it would be just and reasonable rate of interest.
ORDER
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[AMBADAS]
All that piece and parcel of T.P. No. 164, Plot No. 12, admeasuring 45.16 Sq. Mtrs., Yash Plaza Ground Floor, Flat No. G-2, Near Swami Samarth Temple and HP Gas Office, Amalner, Tq. Amalner, District Jalgaon which is bounded as under: East: Road and Use, West: Wall Compound, North: Wall Compound, South: Flat No. G-1.
(F) The Registrar is directed to send the copy of the Judgment and Recovery Certificate to the applicant and defendants.
(G) File be consigned to the record room.
Sd/-
Pronounced in open court. (Dr. J. R. Chauhan) Place: Aurangabad Presiding Officer Date:.01.10.2025 Debts Recovery Tribunal, Aurangabad
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[AMBADAS]
2 issues framed by the court
Whether the debts recovery tribunal should allow the bank's application for recovery of outstanding loan dues.
Whether the defendants are liable to pay the principal amount along with future interest and secure the recovery via mortgage properties.
1 provisions across 1 enactments
Punjab National Bank
Vrushali Vijay Patil
Sunil Bhalerao Pawar
Dr. J. R. Chauhan
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
