Allowed

Canara Bank v. Mr Apparao Maruti Disale

DRT20 Nov 2025OA/47/2022

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed a recovery application filed by Canara Bank against a borrower and a corporate guarantor. The petitioners were absent ex parte. The court directed payment of the principal sum with adjusted future interest and issuance of a recovery certificate.

What did the court decide?

Defendants to pay Rs.25,20,269 plus future interest @9% p.a. from filing date and issue of Recovery Certificate to the applicant.

Canara Bank versus Mr Apparao Maruti Disale — Execution and Attachment | DRT (2025)

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Presented on: 18.02.2021 Registered on: 11.01.2022 Decided on: 20.11.2025 Duration: Y M D 04 09 02

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IN THE DEBTS RECOVERY TRIBUNAL AT PUNE (Before Shri Dilip G Murumkar, Presiding Officer) ORIGINAL APPLICATION No.47/2022

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Canara Bank,

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A Banking Company incorporated under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 having their Head Office at Bangalore-560 002 and having one of their Branch at Kothrud, Pune.

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… Applicant

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Versus

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Mr. Apparao Maruti Disale, R/at: H.No.363, Tale Pimpalgaon, Tal:Patoda, Ashti, Beed.

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Kisanveer Satara Sahakari Sakhar Karkhana Ltd., Address: Bhuinj, Taluka – Wai, District– Satara. Through its Directors, Mr. Madan Prataprao Bhosale, Mr. Ashok Bhargav Jadhav, Mr. Vitthal Pralhad Kadam, Mr. Shankarrao Jagannath Kadam,

… Defendants

(OA No.47/2022)

Page 1 of 5

[ANIL]

APPEARANCES

For the Applicant	Mrs. Pooja Mali i/b M V Kini & Co.
	- Advocates
For Defendants	Exparte

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TOTAL CLAIM AMOUNT –Rs.25,92,447/-

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JUDGMENT

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(Delivered on 20^th November, 2025)

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The Applicant Bank has filed the present Application for recovery of sum of Rs.25,92,447/- towards Short Term Loan account together with future interest @10.5% p.a. and also alonghwith cost expenses and charges till full repayment/realization of entire dues from the defendant Nos.1 and 2.

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Brief facts of the application are as under:

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The applicant Bank contended that defendant No.1 is the borrower who availed Short Term Loan facility of Rs.19,55,000/from the applicant Bank. Defendant No.2 is a Corporate Guarantor for repayment of loan facility availed by defendant No.1.

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The applicant Bank further contended that defendant No.2 being one of the contractors out of 306 listed along with Sanction Letter dated 09^th August, 2016 approached the applicant Bank for sanctioning Loan advances/Short Term Loan together aggregating Rs.41,00,00,000/- to its Harvesters/Transporter Contractors who have entered into an Agreement with defendant No.2.

(OA No.47/2022)

Page 2 of 5

[ANIL]

The applicant Bank sanctioned the aggregate Short Term facility of Rs.41,00,00,000/on 09^th August, 2016 to Harvester/Transporter Contractors as per list submitted by defendant No.2 to applicant Bank which includes the name of defendant No.1 borrower.

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The applicant Bank vide its Sanction Letter dated 15^th July, 2017 revised the aggregate Short Term Loan facility of Rs.40,00,00,000/for the contractors/ transporters/ harvesters of defendant No.2.

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The applicant Bank further contended that defendant No.2 represented by the authorized Directors signed and executed Tripartite Agreement, Undertaking (total 4 in number) and Corporate Guarantee dated 12^th January, 2018 in favour of the applicant Bank for securing the repayment of Short Term Loan together aggregating of Rs.40,00,00,000/- which includes the Short Term facility of Rs.7,00,000/- availed by defendant No.1.

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The applicant Bank further contended that defendant No.1 being one of the contractors out of 306 listed along with Sanction Letter dated 09^th August, 2016 approached the applicant Bank on 31^st December, 2016 for availing Harvest & Transport Loan facility of Rs.19,55,000/- which was sanctioned on 31.12.2016.

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On 28.02.2018, defendant Nos.1 and 2 signed and executed the loan transaction and security documents as mentioned in paragraph Nos.5.8 to 5.14 of the Original Application.

(OA No.47/2022)

Page 3 of 5

[ANIL]

The applicant Bank further submitted that defendant Nos.1 and 2 neglected to pay the loan installments. Therefore, the applicant Bank through its Advocate issued Recall Notice dated 24^th September, 2020 calling upon defendant Nos.1 and 2 to pay the outstanding amount together with interest. Despite issuance of Recall Notice, defendants failed and neglected to pay the outstanding amount payable by them.

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Hence, this application is filed.

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Defendant No.1 & 2 failed to appear despite service of summons. Hence, the application proceeded ex parte against them vide order below Exh.1 on 28.08.2025.

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The applicant has filed Claim Affidavit of evidence (Exhibit-6) of Ms. Neha Sharavan Jagadhane, Manager which supports the case of the applicant elucidated in the application.

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The applicant Bank has produced on record the original loan transaction and security documents at Sr.Nos.AW-1/1 to AW-1/23 which corroborate the case of the applicant Bank.

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

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

(OA No.47/2022)

Page 4 of 5

[ANIL]

The applicant Bank has claimed Penal Interest of Rs.72,178/- in the Short Term Loan account as shown in Particulars of claim at paragraph No.5.20 of the Original Application. However, the same cannot be granted and shall be deducted from the total claim amount. Thus, the total claim amount stands reduced from Rs.25,92,447/- to Rs.25,20,269/-.

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The applicant Bank has claimed future interest 10.50% p.a. for all three Housing Loan accounts. However, considering the facts of the case, I am of the opinion that if future interest is granted @9% p.a. (simple), it would be just and reasonable rate of interest.

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Hence, I pass the following order:-

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ORDER

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(A) Original Application No.47/2022 is allowed with costs.

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(B) Defendant Nos.1 and 2 shall either jointly or severally pay to the applicant Bank the aggregate sum of Rs.25,20,269/(Rupees Twenty-Five Lakhs Twenty Thousand Two Hundred Sixty Nine only) with future interest @9% per annum from the date of filing of the Original Application i.e. 18.02.2021 till full realization of the amount mentioned in this Operative Order.

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

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Sd/-

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Place : Pune Date : 20.11.2025

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(Dilip G Murumkar) Presiding Officer, Debts Recovery Tribunal, Pune.

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(OA No.47/2022)

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Page 5 of 5

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[ANIL]

Canara Bank v. Mr Apparao Maruti Disale

Case brief

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Canara Bank v. Mr Apparao Maruti Disale

Case brief

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