Allowed

Union Bank of India v. Meena Sandip Kshirsagar

DRT3 Nov 2025OA/438/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the bank's application for recovery of Rs. 38,77,955/- plus future interest at 9% from borrowers who defaulted on crop loans, ordering payment and enforcement against mortgaged properties.

What did the court decide?

Order that defendants pay Rs. 38,77,955/- along with future interest at 9% p.a. from 28.07.2022; order enforcement against mortgaged properties.

Union Bank of India versus Meena Sandip Kshirsagar — Execution and Attachment | DRT (2025)

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Presented on: 28.07.2022 Registered on: 01.11.2022 Decided on: 03.11.2025 Duration: Y M D 03 03 05

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IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 438/2022

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TOTAL CLAIM AMOUNT – Rs. 38,77,955/-

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Union Bank of India,

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(As per the directive of the Reserve Bank of India, Ministry of Finance, Department of Financial Services, the Union Bank of India, is now merged/amalgamated with the Union Bank of India) Banking Company incorporated the under the Banking Companies (Acquisition and Transfer of Undertaking) Act, 1970, having its Head office at 239, Vidhan Bhavan Marg, Nariman Point, Mumbai400021 Mumbai-21, & its branch office at Union Bank of India, Mama chowk Branch (Erstwhile Andhara Bank, Jalna Branch) Jalna Branch, Tal. And Dist. Jalna, through its Authorized Signatory, Smt. Amruta Ashokrao Ambhore .

… Applicant

Versus

(OA No.438/2022)

Page 1 of 10

[AMBADAS]

1. Smt. Meena Sandip Kshirsagar, Age: 33 years, Occ.: Agriculture, R/o.: At Kadwanchi Post, Navha, Jalna, Tal. And Dist. Jalna. Pin 431213.

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2. Mr. Prabhakar Harischandra Kashirsagar, Age: 58 years, Occ.: Agriculture, R/o.: At Kadwanchi Post, Navha, Jalna, Tal. And Dist. Jalna. Pin 431203.

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…Defendants

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APPEARANCES

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Mr. Atul A. Mishra -Advocate Ex-Parte

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For the Applicant For Defendants

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JUDGMENT

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Delivered on 03.11.2025

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The Applicant Bank has filed the present application for the recovery of a sum of Rs. 38,77,955/- (Rupees Thirty Eight Lacs, Seventy Seven Thousand, Nine Hundred and Fifty Five only), along with future interest from the date of filing of the Original Application, i.e., 28.07.2022, 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.438/2022)

Page 2 of 10

[AMBADAS]

The Applicant Bank states that the Defendants No. 1 had approached and requested the Applicant Bank for Crop Loan for Agricultural purpose. Upon considering the request and financial needs of the Defendant, the Applicant Bank Sanctioned Crop Loan of Rs. 5,00,000/- vide sanction letter dated 04.07.2015 on certain terms and conditions. The agreed rate of interest for the aforesaid loan facility was @11.75% p.a. with monthly rests. The Defendant also agreed to pay additional interest @2% by way of liquidated damages in the event of any default in repayment.

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The applicant bank further states that, the defendant No. 1 had again approached to the applicant bank for a Crop loan and upon considering the request and need of the defendant, the applicant bank thereafter pleased to sanction a Crop loan facility of Rs. 15,00,000/- vide it’s sanction letter dated 11.05.2017 on certain terms and conditions. The agreed rate of interest for the aforesaid loan facility was @10.20% p.a. with monthly rests. The Defendant

(OA No.438/2022)

Page 3 of 10

[AMBADAS]

also agreed to pay additional interest @2% by way of liquidated damages in the event of any default in repayment.

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Furthermore, the defendant again approached to the applicant bank for a Crop loan and upon considering the request and need of the defendant, the applicant bank thereafter pleased to sanction a Crop loan facility of Rs. 3,00,000/- vide it’s sanction letter dated 31.07.2019 on certain terms and conditions. The agreed rate of interest for the aforesaid loan facility was @10.65% p.a. with monthly rests. The Defendants also agreed to pay additional interest @2% by way of liquidated damages in the event of any default in repayment.

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Subsequently, the defendant again approached to the applicant bank for a Crop loan and upon considering the request and need of the defendant, the applicant bank thereafter pleased to sanction a Crop loan facility of Rs. 3,70,000/- vide it’s sanction letter dated 31.07.2019 on certain terms and conditions. The

(OA No.438/2022)

Page 4 of 10

[AMBADAS]

agreed rate of interest for the aforesaid loan facility was @12%

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p.a. with monthly rests. The Defendant also agreed to pay additional interest @2% by way of liquidated damages in the event of any 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, hypothecation agreements, demand promissory notes, registered mortgage deed bearing daybook No. 969/2017 dated 05.05.2017 etc. Additionally defendant No. 2 stood as guarantor for defendant No. 1 and executed deed of guarantee dated 31.07.2019 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 No. 1 created first charge over his immovable properties under registered mortgage deed

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bearing daybook No. 969/2017 dated 05.05.2017 in favour of the

(OA No.438/2022)

Page 5 of 10

[AMBADAS]

Applicant Bank. The mortgage was created in respect of the following properties-

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i) All that piece and parcel land admeasuring at Gat No. 169, 0-H, 80R, situated at Kadwanchi, Jalna, Tal. And Dist. Jalna, which is bounded as under:

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North: Sandeep Prabhakar Kshirsagar, East: Vasant Ambadas Kshirsagar, South: Vishnu Bhagwantrao Kshirsagar West: Government Road.

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ii) All that piece and parcel land admeasuring at Gut No. 171, 1-H, 36 R, situated at Kadwanchi, Jalna, Tal. And Dist. Jalna, which is bounded as under:

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North: Sandeep Prabhakar Kshirsagar, East: Land of Punjaram Dagduba Kshirsagar, South: Road West: Land of Anita Suresh Kshirsagar.

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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

(OA No.438/2022)

Page 6 of 10

[AMBADAS]

rate of interest thereon, but the defendants failed and neglected to pay the same. The loan account of the defendants became irregular and classified as NPA on 31.03.2021. Therefore on 01.07.2022 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 failed to appear in matter though they were served through court commissioner. Hence, the defendants were proceeded ex-parte as per Order dated 18.07.2025.

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The applicant Bank has filed Claim Affidavit of evidence at Exhibit-4 of Amruta Ashokrao Ambhore, Branch Manager of the applicant Bank, and has produced on record the original loan transaction documents as Annexures AW-1/1 to AW-1/42 along with list of documents Exh.5 which corroborates the case of the applicant Bank.

(OA No.438/2022)

Page 7 of 10

[AMBADAS]

I have heard learned counsel for the parties and gone through the written notes of arguments filed by the applicant bank, written statement by the defendant as well as other material on record.

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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 are mortgaged in favour of the applicant bank.

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The applicant Bank has claimed future interest @11.75 % p.a. from the date of filing i.e. 28.07.2022 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) on outstanding amount, it would be just and reasonable rate of interest.

(OA No.438/2022)

Page 8 of 10

[AMBADAS]

ORDER

(A) Original Application No. 438/2022 is allowed with costs.

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(B) The defendants shall pay jointly and severally to the applicant Bank a sum of Rs. 38,77,955/- (Rupees Thirty Eight Lacs, Seventy Seven Thousand, Nine Hundred and Fifty Five only), along with future interest @ 9% per annum (simple) from the date of filing of the Original Application i.e. 28.07.2022 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 mortgage of the following immovable properties bearing daybook No. 969/2017 vide registered mortgage deed dated 05.05.2017 at Annexure AW-1/17 in list of documents Exh. 5.

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i) All that piece and parcel land admeasuring at Gat No. 169, 0-H, 80R, situated at Kadwanchi, Jalna, Tal. And Dist. Jalna, which is bounded as under: North: Sandeep Prabhakar Kshirsagar, East: Vasant Ambadas Kshirsagar, South: Vishnu Bhagwantrao Kshirsagar

(OA No.438/2022)

Page 9 of 10

[AMBADAS]

West: Government Road.

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ii) All that piece and parcel land admeasuring at Gut No. 171, 1-H, 36 R, situated at Kadwanchi, Jalna, Tal. And Dist. Jalna, which is bounded as under: North: Sandeep Prabhakar Kshirsagar, East: Land of Punjaram Dagduba Kshirsagar, South: Road West: Land of Anita Suresh Kshirsagar.

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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.

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(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. (Dr. J. R. Chauhan) Place: Aurangabad Presiding Officer Date:. 03.11.2025 Debts Recovery Tribunal, Aurangabad

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(OA No.438/2022)

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Page 10 of 10

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[AMBADAS]

Union Bank of India v. Meena Sandip Kshirsagar

Case brief

What is this about?

What did the court decide?

Union Bank of India v. Meena Sandip Kshirsagar

Case brief

What is this about?

What did the court decide?

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