Allowed

Bank of Maharashtra v. Shri Manish S/O Vasantrao Karole

DRT22 Dec 2025OA/566/2023

Case brief

AI extract

What is this about?

The PO, DRB Tribunal allowed an application under Section 19 of the RDB Act, 1993 filed by Bank of Maharashtra. The Tribunal ordered defendants to pay the outstanding loan amount with future interest, excluding penal interest and application charges, and issued a recovery certificate secured against mortgaged property.

What did the court decide?

Defendants ordered to pay Rs. 29,60,409 with future interest; recovery certificate issued against mortgaged property.

Bank of Maharashtra versus Shri Manish S/O Vasantrao Karole — Execution and Attachment | DRT (2025)

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Page 1 of 4 O.A. No. 566/2023

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PRESENTED ON : 30.08.2023 REGISTERED ON : 03.10.2023

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Exh. No. 10

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BEFORE THE PO, DEBTS RECOVERY TRIBUNAL, NAGPUR

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Delivered by Pankaj Kumar

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O.A. No. 566/2023

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Bank of Maharashtra

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: Applicant

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A body corporate constituted by and under the Banking Companies (Acquisition and Transfer of Undertakings) Act 1970 and having its head office at “Lokmangal”, 1501, Shivajinagar, Pune 411005 and branch amongst other places at Wardha Branch, Dist. Wardha 442001 through its Chief Manager Shri Pankaj S/o Shridhar Damle, Age 49 years, Occupation : Service (Phone No. 8600433377) (IFSC : MAHB0000065)

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Versus

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1. Shri Manish S/o Vasantrao Karole

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: Defendants

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Aged about : 50 Years, Occupation : Business

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Residing at : Vasant Niwas, Near Indira Market, Wardha 442001

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PAN Card No. BAKPK3719B Adhar Card No. 3822 9888 2152 Mobile No. 8421548864

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2. Smt. Neeta W/o Manish Karole

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Aged about : 41 Years, Occupation : Housewife

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Residing at : Vasant Niwas, Near Indira Market, Wardha 442001

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Page 2 of 4 O.A. No. 566/2023

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Adhar Card No. 5233 5560 2647

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Mobile No. 7757824783

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Learned Counsel for Applicant	Adv. Y. L. Ingle
Defendants Set Exparte On	16.04.2025

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JUDGMENT

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(Delivered on 22^nd Day of December, 2025)

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This is an application filed by the applicant U/s 19 of RDB Act, 1993 against defendants for recovery of aggregate amount of Rs. 29,60,878/- outstanding in Term Loan Housing Construction Account No. 60356948555 with costs and future interest @7.90% p.a. from the date of filing of O.A. till its realization.

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Though, defendant nos. 1 & 2 were duly served with the suit summons vide Exh. 6 & 7, they failed to cause appearance before this Tribunal to defend their case despite granting several adjournments. Hence, the proceeding against defendant nos. 1 & 2 was set exparte on 16.04.2025.

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The applicant has filed its Claim Affidavit (Exh. 8) alongwith List of Documents (Exh. 9), annexing therewith 20 documents. The original documents therein are marked as Exh. AW-1/1 to AW-1/7. It has been stated in the O.A. as well as in Claim Affidavit that penal interest of Rs. 292/- has been applied in the loan account and other charges of Rs. 177/- has also been applied in the loan account.

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Page 3 of 4 O.A. No. 566/2023

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Heard Learned counsel for the applicant.

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As stated supra, defendants remained exparte. The Evidence Affidavit coupled with the recitals in the documents viz. Exh. AW -1/1 to AW-1/7 marked on behalf of the applicant, clinches the claim of the applicant against defendants. There is no reason to disbelieve the evidence adduced on behalf of applicant. Hence, defendants are liable to pay, jointly and severally, the claim of the applicant with costs and future interest. However, I am not inclined to allow penal interest of Rs. 292/- and other charges of Rs. 177/- applied in the loan account.

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Hence, it is ordered as under:-

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ORDER

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A] O.A. No. 566/2023 is allowed to the extent as under with costs.

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B] Defendants to pay jointly and severally to the applicant bank an amount of Rs. 29,60,409/- (Rupees Twenty Nine Lakh Sixty Thousand Four Hundred Nine Only) outstanding in Term Loan Housing Construction Account No. 60356948555 with simple future interest @7.90% p.a. from the date of filing of O.A. till its realization.

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C] It is declared that outstanding dues are secured by mortgaged immovable property of defendant no. 1 as mentioned in Annexure-C annexed to O.A. and as referred in Exh. AW-1/3, AW-1/4 & AW-1/5.

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D] Issue Recovery Certificate accordingly.

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Page 4 of 4 O.A. No. 566/2023

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E] The Registrar is directed to send the copy of Judgment and Recovery Certificate to the parties to this O.A at once.

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Nagpur (Pankaj Kumar) Presiding Officer Date: 22.12.2025 Debts Recovery Tribunal Nagpur

Bank of Maharashtra v. Shri Manish S/O Vasantrao Karole

Case brief

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Bank of Maharashtra v. Shri Manish S/O Vasantrao Karole

Case brief

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