The Debts Recovery Tribunal at Pune allowed an application filed by DCB Bank Ltd against two defendants for recovery of vehicle loan dues. The court disallowed future interest above a revised rate and secured the debt via hypothecated vehicles.
Payment of Rs.1,82,64,791/- plus future interest at 9% p.a. secured by sale of three hypothecated trucks.
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: 22.11.2022 Registered on: 12.04.2023 Decided on: 28.08.2025 Duration: Y M D 02 09 06
IN THE DEBTS RECOVERY TRIBUNAL AT PUNE (Before Shri Dilip G. Murumkar, Presiding Officer) ORIGINAL APPLICATION No.420/2023.
DCB Bank Ltd ,
DCB Bank Ltd incorporated under the Companies Act, 1956 having its registered office at 6th Floor, Tower A, Peninsula Business Park Senapati Bapat Marg, Lower Parel, Mumbai 400 013 and branch amongst other places at Ferguson College Road, Shivajinagar, Pune—411 005, known as F C Road, Shivajinagar Branch, Pune.
… Applicant
Versus
1. Mr. Siraj Ismail Shaikh Age-Adult, Occ.:-Business,
2. Mr. Jabbar Ismail Shaikh
Age-Adult, Occ.:-Business, Both R/at & Post Garade, Near Maruti Mandir, Tal.Purandar, District Pune-412 301.
…Defendants
APPEARANCES
For the Applicant Advocate – Mr. R. B. Ganbote For the Defendants Ex parte
TOTAL CLAIM AMOUNT – Rs.1,82,64,791/-.
(OA No.420/2023)
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[ANIL]
JUDGMENT (Delivered on 28th August 2025)
2. Brief facts of the application are as under:
Defendants No.1&2 approached the Applicant Bank on 27.05.2018 and requested for three (2) vehicle loans of Rs.28,99,337/each for chassis and two lons of Rs.2,54,328/- each for Body to be purchased from KGN Motors Pvt. Ltd.
Applicant Bank considered the request of the defendants and sanctioned two vehicle loans of Rs.28,99,337/-each for Chassis and two loans of Rs.2,54,328/-each for Body on 31.05.2018 (Total Rs.63,07,330/-).
Defendant No.1 & 2 have executed security documents on 22.06.2018 in favour of the applicant bank for securing the aggregate sanction of Rs.63,07,330/-, as mentioned in Para No.5.5 of the Original Application.
The Applicant Bank contended that after execution of security documents, defendants No.1 and 2 have availed the credit facilities for purchase of Chassis and Body and agreed to repay the repay the same by equated monthly installments of Rs.63,850/- for 58 months and Rs.5,600/- for 58 months.
(OA No.420/2023)
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[ANIL]
Defendant Nos.1 and 2 hypothecated two trucks bearing RTO Registration No.MH-12-PQ-6809, Chassis No. MB1NACHD6HRVU9729 & Engine No.HVHZ436569, AND RTO Registration No.MH-12-PQ-6813, Chassis No. MB1NACHD9HRVU9711 & Engine No.HVHZ435383.
Applicant bank considered the request of Defendants favourably and sanctioned three (3) vehicle loans of Rs.27,56,000/each for three(3) Ashok Leyland Trucks on 31.10.2019 (total aggregate amount Rs.82,68,000/-) to defendants.
Defendant No.1 & 2 have executed security documents on 31.10.2019 in favour of the applicant bank for securing the aggregate sanction of Rs.82,68,000/-, as mentioned in Para No.5.10 of the Original Application.
The Applicant Bank contended that after execution of security documents, defendants No.1 and 2 have availed the credit facilities for purchase of Chassis and Body and agreed to repay the repay the same by equated monthly installments of Rs.62,100/- for 59 months (per unit – i.e. total 3 Ashok Leyland Trucks).
Defendant Nos.1 and 2 hypothecated truck bearing RTO Registration No.MH-12-PQ-6811, Chassis No. MB1NACHD3HRVU9784 & Engine No.HVHZ435136.
(OA No.420/2023)
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[ANIL]
The Applicant Bank contended that applicant bank sanctioned total five vehicles to the defendants, however, defendants No.1 and 2 have hypothecated only three vehicles to the applicant bank and cheated to the applicant bank. Therefore, the applicant bank has filed FIR with Shivajinagar Police Station for cheating and fraud against the defendants. However, there is no progress in the Police Investigation, hence, the applicant bank filed RCS No.709/2021 against the defendants, which is still pending.
Therefore, the applicant bank issued foreclosure letters to the defendants on 01.10.2022 and recalled the dues in the loan accounts. However, the defendants have failed to pay the installments or regularize the accounts of the defendants with the applicant bank. Hence, this application is filed.
(OA No.420/2023)
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[ANIL]
documents at Annexures.AW-1 to AW-20, which corroborates the case of the Applicant Bank.
ORDER
(OA No.420/2023)
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[ANIL]
( i )- Trucks bearing RTO Registration No.MH-12-PQ-6809, Chassis No.MB1NACHD6HRVU9729 & Engine No.HVHZ436569;
( ii )- RTO Registration No.MH-12-PQ-6813, Chassis No. MB1NACHD9HRVU9711 & Engine No.HVHZ435383; and
( iii )- RTO Registration No.MH-12-PQ-6811, Chassis No. MB1NACHD3HRVU9784 & Engine No.HVHZ435136.
Sd/Place : Pune (Dilip G. Murumkar) Date: 28.08.2025 Presiding Officer, Debts Recovery Tribunal, Pune.
(OA No.420/2023)
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[ANIL]
3 issues framed by the court
Whether the debts recovery tribunal can entertain the application for recovery of dues despite pendency of criminal FIR.
Whether the future interest claimed under the claimed relief.
Whether the defendants are liable to repay the filed amount along with future interest.
1 provisions across 1 enactments
DCB Bank Ltd
Mr. Siraj Ismail Shaikh
Mr. Jabbar Ismail Shaikh
Dilip G. Murumkar
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
