Allowed

Bank of India v. Smt Priya W/o Balasaheb Thakre

DRT20 Nov 2025OA/71/2023

Case brief

AI extract

What is this about?

This application sought recovery of loan dues totaling approximately Rs. 18.34 lakks plus interest. Defendants remained in absentia. The Tribunal allowed the claim after excluding notice/penal charges and interest, ordering recovery of principal with 9% future interest.

What did the court decide?

Defendants ordered to pay aggregate principal of Rs. 18,34,207.17 with future interest at 9% p.a. and issuance of Recovery Certificate declaring charges on mortgaged and hypothecated properties.

Bank of India versus Smt Priya W/o Balasaheb Thakre — Money Laundering | DRT (2025)

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Page 1 of 5 O.A. No. 71/2023

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PRESENTED ON : 06.09.2022 REGISTERED ON : 21.01.2023

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Exh. No. 15

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BEFORE THE PO, DEBTS RECOVERY TRIBUNAL, NAGPUR Delivered by Pankaj Kumar

O.A. No. 71/2023

Bank of India

: Applicant

A Body Corporate Constituted Under Banking Companies (Acquisition and Transfer of Undertaking) Act No. V of 1970, having its head Office at G-Block, C-5, Bandra Kurla Complex, Bandra (East), Mumbai- 400 051 having branches all over India and abroad including one at Zilpa Branch, At & Post Zilpa, Tah. Katol, Dist. Nagpur [IFSC Code- BKID0008710] through its Constituted Power of Attorney Sh. Sudhakar S/o. Ganpatrao Dashittiwar [Mobile – 9423681161, Email [email protected]]

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Versus

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1. Smt. Priya W/o. Balasaheb Thakre

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: Defendants

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Aged about Major, Occ. Business Village Ambola, Post Yenikoni Tah. Narkhed 443206, Dist. Nagpur [PAN No. AOMPT3851L]

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2. Sh. Balasaheb S/o. Jagannath Thakre

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Aged about Major, Occ. Business

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Village Ambola, Post Yenikoni

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Tah. Narkhed 443206, Dist. Nagpur

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Learned Counsel for Applicant	Adv. Awadhoot T. Purohit
Defendants set Exparte on	18.11.2024

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Page 2 of 5 O.A. No. 71/2023

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JUDGMENT

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(Delivered on 20^th Day of November, 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. 25,50,000/- with costs and future interest @ 12.55% p.a. with monthly rests from the date of filing of O.A. till its realization.

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A. An amount of Rs. 2,00,000/- outstanding in Term Loan Account No. 871076410000316 with costs and future interest @12.55% p.a. with monthly rests from the date of filing of O.A. till the date of realization.

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B. An amount of Rs. 9,65,525.37 outstanding in Term Loan Account No. 871076210000225 with costs and future interest @12.55% p.a. with monthly rests from the date of filing of O.A. till the date of realization.

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C. An amount of Rs. 7,46,999.76 outstanding in Term Loan Account No. 871076210000226 with costs and future interest @12.55% p.a. with monthly rests from the date of filing of O.A. till the date of realization.

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D. An amount of Rs. 6,00,956.01 outstanding in Term Loan Account No. 871076210000045 with costs and future interest @12.55% p.a. with monthly rests from the date of filing of O.A. till the date of realization.

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Though, defendant nos. 1 & 2 were duly served with the suit summons vide Exh. 11 & 12 they failed to cause appearance before this Tribunal to defend their case despite granting several

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Page 3 of 5 O.A. No. 71/2023

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adjournments. Hence, the proceeding against defendant nos. 1 & 2 was set exparte on 18.11.2024.

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The applicant has filed its Claim Affidavit (Exh. 13) alongwith List of Documents (Exh. 14), annexing therewith 36 documents. The original documents therein are marked as Exh. AW-1/1 to AW-1/35. The applicant has stated in the O.A. as well as in Claim Affidavit that notice & other charges of Rs. 53,499.83 & penal interest of Rs. 1,100/- has been applied in the Term Loan Account No. 871076410000316, Rs. 2,393/- has been applied in Term Loan Account No. 871076210000225, Rs. 2,011/- has been applied in the Term Loan Account No. 871076210000226, Rs. 787/- has been applied in the Term Loan Account No. 871077210000045.

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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-1/35 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 the notice & other charges of Rs. 53,499.83 & penal interest of Rs. 1,100/- has been applied in the Term Loan Account No. 871076410000316, Rs. 2,393/has been applied Term Loan Account No. 871076210000225, Rs. 2,011/has been applied in the Term Loan Account No. 871076210000226, Rs. 787/- has been applied in the Term Loan

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Page 4 of 5 O.A. No. 71/2023

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Account No. 871077210000045; as the O.A. is allowed with costs. Hence, it is ordered as under: -

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ORDER

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A] O.A. No. 71/2023 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. 1,81,919.03 (Rupees One Lakh Eighty One Thousand Nine Hundred Nineteen and Paise Three Only) outstanding in Term Loan Account No. 871076410000316 with simple future interest @9% p.a. from the date of filing of O.A. till its realization.

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C] Defendants to pay, jointly and severally, to the applicant bank an amount of Rs. 9,63,132.37 (Rupees Nine Lakh Sixty Three Thousand One Hundred Thirty Two and Paise Thirty Seven Only) outstanding in Term Loan Account No. 871076410000225 with simple future interest @9% p.a. from the date of filing of O.A. till its realization.

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D] Defendants to pay, jointly and severally, to the applicant bank an amount of Rs. 7,44,988.76 (Rupees Seven Lakh Forty Four Thousand Nine Hundred Eighty Eight and Paise Seventy Six Only) outstanding in Term Loan Account No. 871076410000226 with simple future interest @9% p.a. from the date of filing of O.A. till its realization.

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E] Defendants to pay, jointly and severally, to the applicant bank an amount of Rs. 6,00,169.01 (Rupees Six Lakh One Hundred Sixty Nine and Paisa One Only) outstanding in Term Loan Account No.

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Page 5 of 5 O.A. No. 71/2023

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871077210000045 with simple future interest @9% p.a. from the date of filing of O.A. till its realization.

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F] It is declared that outstanding dues are secured by mortgaged immovable properties of defendant no. 1 as described in Schedule of Mortgaged Property annexed to O.A. and as referred in Exh. AW-1/27 & AW-1/31.

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G] It is declared that charge of outstanding dues is kept on hypothecated goods of defendant no. 1 as described in Schedule of Hypothecated Property annexed to O.A. and as referred in Exh. AW-

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1/10, Exh. AW-1/11, Exh.AW-1/18 & Exh. AW-1/19.

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H] Issue Recovery Certificate accordingly.

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I] 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

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Date: 20.11.2025

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(Pankaj Kumar) Presiding Officer Debts Recovery Tribunal Nagpur

Bank of India v. Smt Priya W/o Balasaheb Thakre

Case brief

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Bank of India v. Smt Priya W/o Balasaheb Thakre

Case brief

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