Allowed

Union Bank of India v. Nitin Shankar Pise

DRT12 Dec 2025OA/47/2023

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed the bank's application against seven borrowers who defaulted on a term loan facility of Rs. 1.34 crores, awarding the principal amount plus future interest at a moderated rate of 11% per annum and securing the recovery against mortgaged and hypothecated properties.

What did the court decide?

Direction to pay Rs. 2,29,85,944/- with future interest at 11% p.a. (simple) till realization; secured by mortgaged properties; power to sell properties; issue Recovery Certificate.

Union Bank of India versus Nitin Shankar Pise — Landlord and Tenant | DRT (2025)

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Presented on: 29.10.2022 Registered on: 31.03.2023 Decided on: 12.12.2025 Duration: Y M D 03 01 13

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IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 47/2023

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TOTAL CLAIM AMOUNT – Rs. 2,29,85,944/-

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Union Bank of India,

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A body corporate constituted under the Banking Companies (Acquisition & Transfer of Undertakings) Act V, 1970 having its Head Office at 239, Backbay Reclamation Bombay 40021 and one of its Branch at Rashin Branch, Taluka Karjat, District Ahmednagar and acting through its one of authorized officer Shri. Bapu Abasaheb Supekar, Age: 42 years, Occupation: Branch Manager, Union Bank of India, Rashin Branch Taluka Karjat, District Ahmednagar and having authority to file the application which includes the authority to sign and verify the application.

… Applicant

Versus

(OA No.47/2023)

Page 1 of 13

[AMBADAS]

1. Nitin S/o. Shankar Pise, Age: 43 years, Occu.: Agriculture, At Post Yeswadi, (Rasin), Post Baradgaon, Taluka Karjat, District Ahmednagar 414403.

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2. Satish S/o. Shankar Pise,

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Age: 48 years, Occu.: Agriculture, At Post Yeswadi, (Rasin), Post Baradgaon, Taluka Karjat, District Ahmednagar 414403.

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3. Sunita W/o. Satish Pise,

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Age: 43 years, Occu.: Agriculture, At Post Yeswadi, (Rasin), Post Baradgaon, Taluka Karjat, District Ahmednagar 414403.

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4. Hemant S/o. Sopanrao Hadke,

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Age: 51 years, Occu.: Business & Agriculture, 504, Near Sawatamali Mandir, Mahatma Fule Chauk, Taluka Haveli, Loni-Kalbhor, Pune-412 201. And

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Hemant S/o. Sopanrao Hadke, At Post Rasin, Taluka Karjat, District Ahmednagar. 4144003

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5. Swati w/o. Hemant Hadke,

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Age: 45 years, Occu.: Business & Agriculture, 504, Near Sawatamali Mandir, Mahatma Fule Chauk, Taluka Haveli, Loni-Kalbhor, Pune-412 201. And Swati w/o. Hemant Hadke, At Post Rasin, Taluka Karjat, District Ahmednagar. 4144003

(OA No.47/2023)

Page 2 of 13

[AMBADAS]

6. Vikas s/o. Maroti Thorat,

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Age: 42 years, Occu.: Agriculture, At post, At Thorat Wasti, Baradgaon Dagadi, Taluka Karjat, District Ahmednagar 414403.

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7. Bhausaheb S/o. Bapurao Nimbhore,

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Age: 51 years, Occu.: Agriculture, At Village Baradgaon Dagdi, Taluka Karjat, District Ahmednagar 414403.

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…Defendants

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APPEARANCES

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Mr. Kulkarni Vivek B -Advocate Ex-parte

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For the Applicant For Defendants

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JUDGMENT

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Delivered on 12.12.2025

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The Applicant Bank has filed the present application for the recovery of a sum of Rs. 2,29,85,944/- (Rupees Two Crore, Twenty Nine Lacs, Eighty Five Thousand, Nine Hundred and Forty Four only), along with future interest from the date of filing of the Original Application, i.e., 29.10.2022, 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.47/2023)

Page 3 of 13

[AMBADAS]

The Applicant Bank states that the Defendant Nos. 1 to 5 approached and requested the Applicant Bank for a Term loan facility. Upon considering the request and financial needs of the Defendants, the Applicant Bank sanctioned a Term loan facility of Rs. 1,34,00,000/- vide sanction letter dated 14.06.2013 on certain terms and conditions. The agreed rate of interest for the Term loan was @14% p.a. with half yearly 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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In order to secure the aforesaid loan facility, the Defendants executed various loan documents in favour of the Applicant Bank. These included sanction letter, form of declaration, letter of undertaking, demand promissory note, & hypothecation agreement. Additionally defendant No. 6 & 7 stood as guarantors for defendant Nos. 1 to 5 and executed deed of guarantee in favour of the Applicant Bank.

(OA No.47/2023)

Page 4 of 13

[AMBADAS]

The Applicant Bank further contends that, in order to secure the aforesaid loan facility, the Defendants created first charge over their immovable property by executing form of declaration dated

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02.09.2013 in favour of the Applicant Bank. The mortgage was

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created in respect of the following properties-

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i) All that piece and parcel of agricultural land admeasuring 1 Hector 30 R, situated at Gat No. 211 at village Yesawadi, Taluka Karjat, District Ahmednagar. Bounded as under: -

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East: - 10,11,12 North: - 210

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West: - 213,212 South: - 213

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ii) All that piece and parcel of agricultural land admeasuring 2 Hector 04 R, (1 Hector 07 R unfertile land) situated at Gat No. 230/1 B, at village Yesawadi, Taluka Karjat, District Ahmednagar. Bounded as under: -

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East: - 230/1K North: - 109 West: - 230/1A South: - 181,228,229

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iii) All that piece and parcel of agricultural land admeasuring 1 Hector 80 R, situated at Gat No. 74/2 at village Yesawadi, Taluka Karjat, District Ahmednagar. Bounded as under: -

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East: - 85 North: - 74/1 West: - 73 South: - 75

(OA No.47/2023)

Page 5 of 13

[AMBADAS]

iv) All that piece and parcel of agricultural land admeasuring 0 Hector 02 R, situated at Gat No. 78 at village Yesawadi, Taluka Karjat, District Ahmednagar. Bounded as under: -

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East: - 77 North: - 77 West: - 76 South: - 77

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v) All that piece and parcel of agricultural land admeasuring 1 Hector 81 R, situated at Gat No. 74/1 at village Yesawadi, Taluka Karjat, District Ahmednagar. Bounded as under: -

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East: - 85 North: - 74/2 West: - 73 South: - 115,114

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vi) All that piece and parcel of agricultural land admeasuring 1 Hector 56 R, (0 Hector 07 R unfertile land) situated at Gat No. 11/2 at village Yesawadi, Taluka Karjat, District Ahmednagar. Bounded as under: -

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East: - 13 North: - 11/1 West: - 211 South: - 10

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vii) All that piece and parcel of agricultural land admeasuring 6 Hector 97 R, (0 Hector 07 R unfertile land) situated at Gat No. 488/3 at village Rashin, Taluka Karjat, District Ahmednagar. Bounded as under: -

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East: - 489 North: - 469 West: - 455 South: - Road

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PERSONAL PROPERTIES OF DEFENDAT NO. 6:

(OA No.47/2023)

Page 6 of 13

[AMBADAS]

i) All that piece and parcel of agricultural land admeasuring 0 Hector 59 R, situated at Gat No. 421 at village Rashin, Taluka Karjat, District Ahmednagar.

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ii) All that piece and parcel of agricultural land admeasuring 0 Hector 59 R, situated at Gat No. 422 at village Rashin, Taluka Karjat, District Ahmednagar.

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iii) All that piece and parcel of agricultural land admeasuring 0 Hector 71 R, situated at Gat No. 423 at village Rashin, Taluka Karjat, District Ahmednagar.

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PERSONAL PROPERTIES OF DEFENDAT NO. 7:

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i) All that piece and parcel of agricultural land admeasuring 1 Hector 17 R, situated at Gat No. 425 at village Rashin, Taluka Karjat, District Ahmednagar.

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ii) All that piece and parcel of agricultural land admeasuring 0 Hector 52 R, situated at Gat No. 453/2 at village Rashin, Taluka Karjat, District Ahmednagar.

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iii) All that piece and parcel of agricultural land admeasuring 0 Hector 54 R, situated at Gat No. 415/1 at village Rashin, Taluka Karjat, District Ahmednagar.

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The applicant bank contended that the defendants have failed to

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keep their promise and commitments agreed by them with regard

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to due repayment of the loan amount. The defendants failed to

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operate the loan account properly and failed to pay the agreed

(OA No.47/2023)

Page 7 of 13

[AMBADAS]

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 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 30.09.2022. Therefore, on 12.10.2022 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 summons. Hence, the defendants were proceeded ex-parte as per Order dated 29.02.2024.

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The applicant Bank has filed Claim Affidavit of evidence at Exhibit-5 of Bapu Abasaheb Supekar, Branch Manager of the applicant Bank, and has produced on record the original loan transaction documents as Annexure A-1 to A-14 along with list of

(OA No.47/2023)

Page 8 of 13

[AMBADAS]

documents Exh.6 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 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/personal properties of the borrowers which are mortgaged in favour of the applicant bank.

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The applicant Bank has claimed future interest @14% p. a. from the date of filing i.e. 29.10.2022 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 @ 11% per annum (simple), it would be just and reasonable rate of interest.

(OA No.47/2023)

Page 9 of 13

[AMBADAS]

ORDER

(A) Original Application No. 47/2023 is allowed with costs.

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(B) The defendants shall pay jointly and severally to the applicant Bank a sum of Rs. 2,29,85,944/- (Rupees Two Crore, Twenty Nine Lacs, Eighty Five Thousand, Nine Hundred and Forty Four only),along with future interest @ 11% per annum (simple) from the date of filing of the O. A. i.e. 29.10.2022 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 vide form of declaration dated 06.09.2013 at annexure A-6 and A-9 in list of documents Exh. 6.

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i) All that piece and parcel of agricultural land admeasuring 1 Hector 30 R, situated at Gat No. 211 at village Yesawadi, Taluka Karjat, District Ahmednagar. Bounded as under: -

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East: - 10,11,12 North: - 210 West: - 213,212 South: - 213

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ii) All that piece and parcel of agricultural land admeasuring 2 Hector 04 R, (1 Hector 07 R unfertile

(OA No.47/2023)

Page 10 of 13

[AMBADAS]

land) situated at Gat No. 230/1 B, at village Yesawadi, Taluka Karjat, District Ahmednagar. Bounded as under: -

¶108

East: - 230/1K North: - 109 West: - 230/1A South: - 181,228,229

¶109

iii) All that piece and parcel of agricultural land admeasuring 1 Hector 80 R, situated at Gat No. 74/2 at village Yesawadi, Taluka Karjat, District Ahmednagar. Bounded as under: -

¶110

East: - 85 North: - 74/1 West: - 73 South: - 75

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iv) All that piece and parcel of agricultural land admeasuring 0 Hector 02 R, situated at Gat No. 78 at village Yesawadi, Taluka Karjat, District Ahmednagar. Bounded as under: -

¶112

East: - 77 North: - 77 West: - 76 South: - 77

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v) All that piece and parcel of agricultural land admeasuring 1 Hector 81 R, situated at Gat No. 74/1 at village Yesawadi, Taluka Karjat, District Ahmednagar. Bounded as under: -

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East: - 85 North: - 74/2 West: - 73 South: - 115,114

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vi) All that piece and parcel of agricultural land admeasuring 1 Hector 56 R, (0 Hector 02 R unfertile land) situated at Gat No. 11/2 at village Yesawadi,

(OA No.47/2023)

Page 11 of 13

[AMBADAS]

Taluka Karjat, District Ahmednagar. Bounded as under: -

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East: - 13 North: - 11/1 West: - 211 South: - 10

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East: - 489 North: - 469 West: - 455 South: - Road

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PERSONAL PROPERTIES OF DEFENDAT NO. 6:

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i) All that piece and parcel of agricultural land admeasuring 0 Hector 59 R, situated at Gat No. 421 at village Rashin, Taluka Karjat, District Ahmednagar.

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ii) All that piece and parcel of agricultural land admeasuring 0 Hector 59 R, situated at Gat No. 422 at village Rashin, Taluka Karjat, District Ahmednagar.

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iii) All that piece and parcel of agricultural land admeasuring 0 Hector 71 R, situated at Gat No. 423 at village Rashin, Taluka Karjat, District Ahmednagar.

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PERSONAL PROPERTIES OF DEFENDAT NO. 7:

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i) All that piece and parcel of agricultural land admeasuring 1 Hector 17 R, situated at Gat No. 425 at village Rashin, Taluka Karjat, District Ahmednagar.

(OA No.47/2023)

Page 12 of 13

[AMBADAS]

ii) All that piece and parcel of agricultural land admeasuring 0 Hector 52 R, situated at Gat No. 453/2 at village Rashin, Taluka Karjat, District Ahmednagar.

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iii) All that piece and parcel of agricultural land admeasuring 0 Hector 54 R, situated at Gat No. 415/1 at village Rashin, Taluka Karjat, District Ahmednagar.

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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. Place: Aurangabad Date:.12.12.2025

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(Dr. J. R. Chauhan) Presiding Officer Debts Recovery Tribunal, Aurangabad

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(OA No.47/2023)

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Page 13 of 13

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[AMBADAS]

Union Bank of India v. Nitin Shankar Pise

Case brief

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Union Bank of India v. Nitin Shankar Pise

Case brief

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