The Debts Recovery Tribunal allowed the bank's application for recovery of outstanding dues of Rs. 65,92,270.56 along with future interest at 9% per annum, secured by mortgaged properties, as defendants appeared ex-parte.
Directing respondents to pay Rs. 65,92,270.56 with future interest at 9% p.a. and declare mortgaged properties as security for the amount.
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: 30.01.2024 Registered on: 03.07.2024 Decided on: 02.09.2025 Duration: Y M D 01 08 03
IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 481/2024
TOTAL CLAIM AMOUNT – Rs. 65,92,270.56/-
Union Bank of India, A Body Corporate constituted
under the Banking companies (Acquisition and Transfer of Undertakings) Act 1970, Having its Registered office at 239, Vidhan Bhavan Marg, Nariman Point, Mumbai-400021 & having branches amongst the other places at Main Branch, Dhule through its Authorized Person, RM. Bhatusing Shamsing Thakur (Branch Head), Age: 40 yrs, Occ.: Service, R/o. Station Road, Dhule
Versus
… Applicant
(OA No.481/2024)
Page 1 of 9
[AMBADAS]
AND/OR
Mr. Kishor Parashram Wagh Age: Major, Occu.: Business, R/o.: At S. T. Colony, Shivaji Nagar, Kalwan, Tq. Kalwan, Dist. Nashik 423501
APPEARANCES For the Applicant Mr. K. D. Pande -Advocate For Defendants Ex-parte
JUDGMENT
Delivered on 02.09.2025
(OA No.481/2024)
Page 2 of 9
[AMBADAS]
Original Application, i.e., 30.01.2024, until the date of realization of the entire outstanding dues from the Defendants.
Brief facts of the application are as under:
(OA No.481/2024)
Page 3 of 9
[AMBADAS]
26.06.2018 & hypothecation agreement. Additionally defendant
No. 2 stood as guarantor for defendant No. 1 and executed deed
of guarantee on 19.11.2018 in favour of the Applicant Bank
East: Gut No. 323 + 327 West: Gut No. 329 South: Gut No. 292 + forest North: Gut No. 333
East: Gut No. 323 + 327 West: Gut No. 329 South: Gut No. 292 + forest North: Gut No. 333
(OA No.481/2024)
Page 4 of 9
[AMBADAS]
East: Gut No. 323 + 327 West: Gut No. 329 South: Gut No. 292 + forest North: Gut No. 333
The Applicant Bank further states that Defendant No. 1 also executed a Hypothecation Agreement, thereby hypothecating in favour of the Applicant Bank crops, herds, fish, flocks, silkworms, cocoons, tools, equipment, fixtures, boats, machines, tractors, power tillers, tube wells, electric motors, diesel engines, and other movable assets.
(OA No.481/2024)
Page 5 of 9
[AMBADAS]
failed and neglected to pay the same. The loan account of the defendants became irregular and classified as NPA on 31.12.2022. Therefore on 10.01.2024 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.
(OA No.481/2024)
Page 6 of 9
[AMBADAS]
applicant Bank.
ORDER
(OA No.481/2024)
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[AMBADAS]
(B) The defendants jointly and severally shall pay to the applicant Bank a sum of Rs. 65,92,270.56/- ( Rupees Sixty Five Lacs, Ninety Two Thousand, Two Hundred Seventy and Fifty Six Paisa only),along with future interest @ 9% per annum (simple) from the date of filing of the Original Application i.e. 30.01.2024 till full payment/realization of the amount mentioned in this operative order.
(C) The aforesaid adjudicated amount is secured by the mortgage of the following immovable properties bearing daybook no. 2937 vide registered mortgage deed dated 26.06.2018 at Exh A-9 in list of documents Exh. 5
East: Gut No. 323 + 327 West: Gut No. 329 South: Gut No. 292 + forest North: Gut No. 333
[AMBADAS] (OA No.481/2024) Page 8 of 9
No. 328/2/3B, situated at Nagaon Bk. Tq.Dhule, Dist. Dhule which is bounded as under: East: Gut No. 323 + 327 West: Gut No. 329 South: Gut No. 292 + forest North: Gut No. 333
East: Gut No. 323 + 327 West: Gut No. 329 South: Gut No. 292 + forest North: Gut No. 333
(D) The applicant Bank is entitled to sell the mortgaged immovable properties and hypothecated articles/goods, to recover its dues.
(E) Issue Recovery Certificate accordingly.
(G)
(G) File be consigned to the record room.
Sd/-
Pronounced in open court. Place: Aurangabad Date:.02.09.2025
(Dr. J. R. Chauhan) Presiding Officer Debts Recovery Tribunal, Aurangabad
(OA No.481/2024)
Page 9 of 9
[AMBADAS]
[AMBADAS] (OA No.481/2024) Page 10 of 9
1 issue framed by the court
Whether the bank is entitled to recover the outstanding loan amount along with future interest as claimed.
Union Bank of India
Mr. Kishor Parashram Wagh
Mr. Bhausaheb Genda Suryawanshi
Dr. J. R. Chauhan
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
