Allowed

Union Bank of India v. Vilasrao Khanderao Shinde

DRT22 Sept 2025OA/688/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an Original Application filed by Union Bank of India for recovery of Rs. 38,54,260/- with future interest from the Shinde Defendants, who failed to repay an agricultural term loan and were proceeded ex-parte.

What did the court decide?

Recovery of Rs. 38,54,260/- plus future interest at 9% p.a. from 11.06.2024; secured by specified mortgaged properties; authorization to sell properties for recovery.

Union Bank of India versus Vilasrao Khanderao Shinde — Contract and Commercial Disputes | DRT (2025)

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Presented on: 11.06.2024 Registered on: 28.08.2024 Decided on: 22.09.2025 Duration: Y M D 01 03 11

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IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 688/2024

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TOTAL CLAIM AMOUNT – Rs. 38,54,260/-

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Union Bank of India,

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(Erstwhile “Corporation Bank”) 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 Station Road, Dist. Ahmednagar and having it’s Asset Recovery Branch (ARB), at Plot No. 3, 1^st Floor, Sahakar Colony, Shahanoorwadi, Aurangabad, through its Power of Attorney, Mr. Abhaykumar Dattatray Baviskar, (Chief Manager), Age: 37 years, Occ.: Service, R/o. Plot No. 3, 1^st Floor, Sahakar Colony, Shahnoorwadi, Aurangabad 431005.

… Applicant

Versus

(OA No.688/2024)

Page 1 of 13

[AMBADAS]

1. Mr. Vilasrao Khanderao Shinde, Age: Major, Occu.: Agri., R/o.: At Post Ranjangaon Mashid, Tq. Parner, Dist. Ahmednagar 413703.

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2. Smt. Vijaya Vilasrao Shinde, Age: Major, Occu.: Agri., R/o.: At Post Ranjangaon Mashid, Tq. Parner, Dist. Ahmednagar 413703.

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3. Mr. Abjijit Vilasrao Shinde,

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Age: Major, Occu.: Agri., R/o.: At Post Ranjangaon Mashid, Tq. Parner, Dist. Ahmednagar 413703.

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4. Mr. Nilesh Vilasrao Shinde,

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Age: Major, Occu.: Agri., R/o.: At Post Ranjangaon Mashid, Tq. Parner, Dist. Ahmednagar 413703.

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5. Smt. Vaishali Prakash Shinde,

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Age: Major, Occu.: Agri., R/o.: At Post Ranjangaon Mashid, Tq. Parner, Dist. Ahmednagar 413703.

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6. Mr. Rahul Prakash Shinde,

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Age: Major, Occu.: Agri., R/o.: At Post Ranjangaon Mashid, Tq. Parner, Dist. Ahmednagar 413703.

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7. Mr. Shailendra Prakash Shinde,

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Age: Major, Occu.: Agri., R/o.: At Post Ranjangaon Mashid, Tq. Parner, Dist. Ahmednagar 413703.

(OA No.688/2024)

Page 2 of 13

[AMBADAS]

8. Smt. Lalita Manikrao Shinde, Age: Major, Occu.: Agri., R/o.: At Post Ranjangaon Mashid, Tq. Parner, Dist. Ahmednagar 413703.

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9. Smt. Surekha Balwantrao Shinde,

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Age: Major, Occu.: Agri., R/o.: At Post Ranjangaon Mashid, Tq. Parner, Dist. Ahmednagar 413703.

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10. Mr. Daulatrao Khanderao Shinde, Age: Major, Occu.: Agri., R/o.: At Post Ranjangaon Mashid, Tq. Parner, Dist. Ahmednagar 413703.

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11. Mr. Balwant Manikrao Shinde,

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Age: Major, Occu.: Agri., R/o.: At Post Ranjangaon Mashid, Tq. Parner, Dist. Ahmednagar 413703.

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12. Smt. Rohini Balwant Shinde,

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Age: Major, Occu.: Agri., R/o.: At Post Ranjangaon Mashid, Tq. Parner, Dist. Ahmednagar 413703.

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13. Mr. Sangram Manikrao Shinde,

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Age: Major, Occu.: Agri., R/o.: At Post Ranjangaon Mashid, Tq. Parner, Dist. Ahmednagar 413703.

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14. Mr. Sndip Balwantrao Shinde,

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Age: Major, Occu.: Agri., R/o.: At Post Ranjangaon Mashid, Tq. Parner, Dist. Ahmednagar 413703.

(OA No.688/2024)

Page 3 of 13

[AMBADAS]

15. Mr. Vishal Balwantrao Shinde, Age: Major, Occu.: Agri., R/o.: At Post Ranjangaon Mashid, Tq. Parner, Dist. Ahmednagar 413703.

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16. Smt. Pramila Khanderao Shinde,

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Age: Major, Occu.: Agri., R/o.: At Post Ranjangaon Mashid, Tq. Parner, Dist. Ahmednagar 413703.

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17. AUM Shri Shankar Upsa Jal Sinchan Sahakari Yojana, Age: Major, Occu.: Agri., R/o.: At Post Ranjangaon Mashid, Tq. Parner, Dist. Ahmednagar 413703.

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…Defendants

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APPEARANCES

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For the Applicant Mr. K. D. Pande -Advocate For Defendants Ex-parte

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JUDGMENT Delivered on 22.09.2025

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The Applicant Bank has filed the present application for the recovery of a sum of Rs. 38,54,260/- ( Rupees Thirty Eight Lacs, Fifty Four Thousand, Two Hundred and Sixty only), along with future interest from the date of filing of the Original Application,

(OA No.688/2024)

Page 4 of 13

[AMBADAS]

i.e., 11.06.2024, 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 No. 1 to 13 approached and requested the Applicant Bank for Agri. Term loan facility. Upon considering the request and financial needs of the Defendants, the Applicant Bank sanctioned Agri. Term loan facility of Rs. 66,60,000/- vide sanction letter dated 13.04.2007 on certain terms and conditions. The agreed rate of interest for the aforesaid loan was @9.50% 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 Defendant No. 1

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to 13 executed various loan documents in favour of the Applicant Bank. These included sanction letter, letter of undertaking,

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hypothecation agreement, demand promissory note, registered

(OA No.688/2024)

Page 5 of 13

[AMBADAS]

mortgage deed bearing day book no. 4491 dated 13.11.2007 etc.,

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in favour of the applicant bank. Additionally defendant Nos. 14 to

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17 stood as guarantors for defendant Nos. 1 to 13 and executed deed of guarantee dated 17.10.2007 in favour of the applicant bank.

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The Applicant Bank further contends that, in order to secure the aforesaid loan facility, the Defendants created first charge over their immovable properties under registered mortgage deed bearing day book no. 4491 dated 13.11.2007 in favour of the Applicant Bank. The mortgage was created in respect of the following properties-

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i) All that piece and parcel of agricultural land totally admeasuring 17 H 39 R, out of Gut No. 481/1A, situated at Village Ranjangaon Mashid, Tq. Parner, Dist. Ahmednagar which is owned & possessed by Mrs. Vijaya Vilasrao Shinde, Mrs. Vaishali Prakashrao Shinde, Mrs. Lalita Manikrao Shinde & Mrs. Rohini Daulatrao Shinde, which is bounded as under:

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East: Road, West: Gut No. 481/1A (Part), South: Gut No. 314/4 & 318,

(OA No.688/2024)

Page 6 of 13

[AMBADAS]

North: Gut No. 481/1 to 5.

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ii) All that piece and parcel of agricultural land totally admeasuring 3 H 67 R, P.K. 0 H 07 R, out of Gut No. 314/4, situated at Village Ranjangaon Mashid, Tq. Parner, Dist. Ahmednagar which is owned & possessed by Mr. Abhijit Vilas Shinde, Mr. Shailendra Prakashrao Shinde, which is bounded as under:

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East: Gut No. 314/4 (Part), West: Road South: Gut No. 483, North: Gut No. 314/2.

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iii) All that piece and parcel of agricultural land totally admeasuring 1 H 92 R, P.K. 0 H 03 R, out of Gut No. 422, situated at Village Ranjangaon Mashid, Tq. Parner, Dist. Ahmednagar which is owned & possessed by Mr. Abhijit Vilas Shinde, which is bounded as under:

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East: Gut No. 422 (Part), West: Road South: Gavthan, North: Gut No. 423, 424.

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iv) All that piece and parcel of agricultural land totally admeasuring 9 H 46 R, P.K. 0 H 34 R, out of Gut No. 519, situated at Village Ranjangaon Mashid, Tq. Parner, Dist. Ahmednagar which is owned & possessed by Mr. Balwant Khanderao Shinde Shinde, Mr. Sangram Manikrao Shinde, which is bounded as under:

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East: Gut No. 516, 140 West: Gut No. 520 South: Road,

(OA No.688/2024)

Page 7 of 13

[AMBADAS]

North: Gut No. 519 (Part).

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v) All that piece and parcel of agricultural land totally admeasuring 4 H 93 R, P.K. 0 H 02 R, out of Gut No. 520, situated at Village Ranjangaon Mashid, Tq. Parner, Dist. Ahmednagar which is owned & possessed by Mr. Daulet Khandrao Shinde, Shailendra Prakashrao Shinde, which is bounded as under:

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East: Gut No. 519, West: Gut No. 522 South: Road, North: Gut No. 520 (Part).

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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 defendants became irregular and classified as NPA on 31.03.2023. Therefore, on 22.02.2024 the applicant bank issued legal notice to the

(OA No.688/2024)

Page 8 of 13

[AMBADAS]

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 duly served through paper publication. Hence, the defendants were proceeded ex-parte as per Order dated 07.02.2025.

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The applicant Bank has filed Claim Affidavit of evidence at Exhibit-4 of Abhaykumar Dattatray Baviskar, Chief Manager of the applicant Bank, and has produced on record the original loan transaction documents as Exh. A-1 to A-15 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.

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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

(OA No.688/2024)

Page 9 of 13

[AMBADAS]

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 @12.50 p. a. on term loan from the date of filing i.e. 11.06.2024 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. 688/2024 is allowed with costs.

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(B)

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(B) The defendants shall pay jointly and severally to the applicant Bank a sum of Rs. 38,54,260/- ( Rupees Thirty Eight Lacs, Fifty Four Thousand, Two Hundred and Sixty

(OA No.688/2024)

Page 10 of 13

[AMBADAS]

only), along with future interest @ 9% per annum (simple) from the date of filing of the O.A. i.e. 11.06.2024 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. 4491 dated 13.11.2007 at Exh. A-5 in the list of documents Exh. 5.

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East: Road, West: Gut No. 481/1A (Part), South: Gut No. 314/4 & 318, North: Gut No. 481/1 to 5.

(OA No.688/2024)

Page 11 of 13

[AMBADAS]

East: Gut No. 314/4 (Part), West: Road South: Gut No. 483, North: Gut No. 314/2.

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East: Gut No. 422 (Part), West: Road South: Gavthan, North: Gut No. 423, 424.

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East: Gut No. 516, 140 West: Gut No. 520 South: Road, North: Gut No. 519 (Part).

(OA No.688/2024)

Page 12 of 13

[AMBADAS]

Khandrao Shinde, Shailendra Prakashrao Shinde, which is bounded as under:

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East: Gut No. 519, West: Gut No. 522 South: Road, North: Gut No. 520 (Part).

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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:.22.09.2025

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

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(OA No.688/2024)

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Page 13 of 13

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[AMBADAS]

Union Bank of India v. Vilasrao Khanderao Shinde

Case brief

What is this about?

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Union Bank of India v. Vilasrao Khanderao Shinde

Case brief

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