Allowed

Bank of Maharashtra v. Sugandabai Balchand Aute

DRT16 Sept 2025OA/578/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the bank's application for recovery of Rs. 33,93,531/-. The court held that the defendants failed to repay loans and neglected notices, ordering joint and several payment with 9% future interest, securing the debt via mortgaged properties, and directing issuance of a recovery certificate.

What did the court decide?

Direct payment of Rs. 33,93,531/ with 9% p.a. simple interest from filing; security by mortgaged properties; issuance of Recovery Certificate allowing sale.

Bank of Maharashtra versus Sugandabai Balchand Aute — Contract and Commercial Disputes | DRT (2025)

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Presented on: 27.01.2024 Registered on: 31.07.2024 Decided on: 16.09.2025 Duration: Y M D 01 08 19

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IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD

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(Before Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 578/2024

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TOTAL CLAIM AMOUNT – Rs. 33,93,531/-

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Bank of Maharashtra ,

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A Body Corporate constituted under the Banking Companies (Acquisition of Undertaking) Act, 5of 1970, carrying on banking business & Having its Head Office at “Lokmangal”, 1501, Shivaji Nagar, Pune-411 005 and Zonal Office at “Mahabank Bhawan, C-3, N-1, Town Centre, CIDCO, Aurangabad431003 and Branch at Kannad, Taluka Kannad, District Aurangabad, Through its Authorized officer, Shri. Sachin Balasaheb Kapse, Age: Major, Occ.: Service, Working as Senior Manager, Branch at

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Kannad, Taluka Kannad, District Aurangabad.

… Applicant

(OA No.578/2024)

Page 1 of 9

[AMBADAS]

Versus

Sugandabai Balchand Aute, Age: Major, Occupation: Agriculture, R/o.: At Post At Post Shivarai, Tq. Kannad, District Aaurangabad AND Gut No. 97 & Gut No. 97, situated at Shivrai, Tq. Kannad, District Aurangabad.

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Sanjay Balchand Aute, Age: Major, Occupation: Farmer, R/o.: At Post At Post Shivarai, Tq. Kannad, District Aaurangabad AND Gut No. 97 & Gut No. 97, situated at Shivrai, Tq. Kannad, District Aurangabad.

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Haridwar Shankar Avhad, Age: Major, Occupation: Farmer, R/o.: At Post Athegaon, Tq. Kannad, District Aaurangabad

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Balasaheb Appa Shinde, Age: Major, Occupation: Farmer, R/o.: At Post At Post Shivarai, Tq. Kannad, District Aaurangabad

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…Defendants

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APPEARANCES For the Applicant Mr. Atul A. Mishra -Advocate For Defendants Ex-parte

(OA No.578/2024)

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[AMBADAS]

JUDGMENT Delivered on 16.09.2025

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The Applicant Bank has filed the present application for the

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recovery of a sum of Rs. 33,93,531/- (Rupees Thirty Three Lacs, Ninety Three Thousand, Five Hundred and Thirty One only), along with future interest from the date of filing of the Original Application, i.e., 27.01.2024, 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:

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The Applicant Bank states that the Defendant Nos. 1 & 2 had approached and requested the Applicant Bank under MKCC purpose of agriculture crop & term loan facility for the purpose of drip set & installation of pipeline. Upon considering the request and financial needs of the DefendantS, the Applicant Bank sanctioned term loan facility of Rs. 8,50,000/- & MKCC facility of Rs. 2,50,000/- vide, sanction letters dated 12.03.2013

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& 13.03.2013 on certain terms and conditions. The agreed rate

(OA No.578/2024)

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[AMBADAS]

of interest for term loan facility was @13% p.a. & MKCC facility

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was @7% p.a. with quarterly rests. The Defendants also agreed to pay additional interest @2% by way of liquidated damages in

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the event of any default in repayment.

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In order to secure the aforesaid loan facilities, the Defendants executed various loan documents in favour of the Applicant Bank. These included sanction letters, demand promissory notes, mortgage deed bearing daybook no. 802/2013 & hypothecation agreement etc. Additionally defendant Nos. 3 & 4 stood as guarantors for defendant no. 1 & 2 and executed deeds of guarantee on 12.03.2013 & 13.03.2013 respectively in favour

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of the Applicant Bank.

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The Applicant Bank further contends that, in order to secure the aforesaid loan facilities, the Defendants executed mortgage deed bearing daybook no. 802/2013 dated 15.02.2013 in respect of following property:

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i) All that piece and parcel of gut No. 97, admeasuring 80 R,

(OA No.578/2024)

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[AMBADAS]

situated at Shivrai, Tq. Kannad, District Aurangabad, owned by Sugandabai Balchand Aute, which is bounded as under:

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North: Suresh Jagannath, East: Ashok Khandu, West: Brook, South; Sanjay Balchand.

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ii) All that piece and parcel of gut No. 97, admeasuring 2H 87 R, situated at Shivrai, Tq. Kannad, District Aurangabad, owned by Sanjay Balchand Aute, which is bounded as under:

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North: Sugandabai Balichand, East: Suresh Jaganath, West: Sanjay Shrihari South; Kaduba Keshavrao.

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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 rate of interest thereon, but the defendants failed and neglected to pay the same. The loan account of the

(OA No.578/2024)

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[AMBADAS]

defendants became irregular and classified as NPA on 31.05.2018. Therefore, on 05.12.2022 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 RPAD. Hence, the defendants were proceeded ex-parte as per Order dated 12.02.2025.

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The applicant Bank has filed Claim Affidavit of evidence at Exhibit-4 of Shri. Sachin Balasaheb Kapse, Chief Manager of the applicant Bank, and has produced on record the original loan transaction documents as Exh. AW-1/1 to AW-1/17 along with list of documents Exh.5 which corroborates the case of the applicant Bank.

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

(OA No.578/2024)

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[AMBADAS]

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 @12% p.a. on outstanding amount from the date of filing i.e. 27.01.2024 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), it would be just and reasonable rate of interest.

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ORDER

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(A) Original Application No. 578/2024 is allowed with costs.

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(B) The defendants shall pay jointly and severally to the

(OA No.578/2024)

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[AMBADAS]

applicant Bank a sum of 33,93,531/- (Rupees Thirty Three Lacs, Ninety Three Thousand, Five Hundred and Thirty One only), along with future interest @ 9% per annum (simple) from the date of filing of the O.A. i.e. 27.01.2024 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 simple mortgage deed bearing daybook No. 802/2013 dated 15.02.2013 at Exh. AW-1(14) in the list of documents Exh. 5

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i) All that piece and parcel of gut No. 97, admeasuring 80 R, situated at Shivrai, Tq. Kannad, District Aurangabad, owned by Sugandabai Balchand Aute, which is bounded as under:

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North: Suresh Jagannath, East: Ashok Khandu, West: Brook, South; Sanjay Balchand.

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ii) All that piece and parcel of gut No. 97, admeasuring 2H 86 R, situated at Shivrai, Tq. Kannad, District Aurangabad, owned by Sanjay Balchand Aute, which is bounded as under:

(OA No.578/2024)

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[AMBADAS]

North: Sugandabai Balichand, East: Suresh Jaganath, West: Sanjay Shrihari South; Kaduba Keshavrao.

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(D) The applicant Bank is entitled to sell the mortgaged immovable properties and hypothecated

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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:.16.09.2025 Debts Recovery Tribunal, Aurangabad

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(OA No.578/2024)

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[AMBADAS]

Bank of Maharashtra v. Sugandabai Balchand Aute

Case brief

What is this about?

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Bank of Maharashtra v. Sugandabai Balchand Aute

Case brief

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