Allowed

Union Bank of India v. Ganesh Dashrath Pimple

DRT20 Aug 2025OA/732/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the bank's original application for recovery. The court directed the defaulters to pay the principal sum of Rs. 38,06,538/- along with future interest at 8% p.a. and enforced the bank's charge over the mortgaged property to secure the dues.

What did the court decide?

Ordered payment of Rs. 38,06,538/- with 8% per annum future interest and enforcement of mortgage charge over the specified property.

Union Bank of India versus Ganesh Dashrath Pimple — Contract and Commercial Disputes | DRT (2025)

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Presented on: 30.08.2024 Registered on: 11.09.2024 Decided on: 20.08.2025 Duration: Y M D 00 11 20

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IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No.732/2024

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Union Bank of India

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TOTAL CLAIM AMOUNT – Rs. 38,06,538/-

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A Body Corporate constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act 1970 Having its Registered Office at 239 Vidhan Bhavan Marg, NarimanPoint,Mumbai40021 & having branches amongst the other places at Nandurbar through its POA, Mr. Guatam Kumar Tripathi (Branch Manager), Age: 35 years, Occu.: Service, R/o. Nandurbar Dist. Nandurbar

… Applicant

(OA No.732/2024)

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[AMBADAS]

Versus

Mr. Ganesh Dashrath Pimple, Age: Major, Occu.: Self Employed, R/o.: Plot No. 34 Ramdev Baba Nagar Kokan Hill, Dudhale Shivar, Tq & Dist. Nandurar-425412

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Mrs. Alka Ganesh h Pimple, Age: Major, Occu.: Self Employed, R/o.: Plot No. 34 Ramdev Baba Nagar Kokan Hill, Dudhale Shivar, Tq & Dist. Nandurar-425412 …Defendants

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

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JUDGMENT Delivered on 20.08.2025

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The Applicant Bank has filed the present application for the recovery of a sum of Rs. 38,06,538/- ( Rupees Thirty Eight Lacs Six Thousand Five Hundred and Thirty Eight only), along with further interest from the date of filing of the Original Application, i.e., 30.08.2024, until the date of realization of the entire outstanding

(OA No.732/2024)

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[AMBADAS]

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 Defendants No. 1 & 2 had approached and requested the Applicant Bank for a Term loan facility. Upon considering the request and financial needs of the Defendants, the Applicant Bank sanctioned a Term loan facility of Rs. 9,00,000/- vide sanction letters dated 28.12.2021 on certain terms and conditions. The agreed rate of interest for the aforesaid loans was @6.85% p.a. with monthly rests applicable. The Defendants also agreed to pay additional interest of @2% by way of liquidated damages in the event of any default in repayment.

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The applicant bank further states that the defendant No. 1 & 2 again approached to the applicant bank and requested a term loan facility. Upon considering the request and financial needs of

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the Defendants, the Applicant Bank sanctioned a Term loan

(OA No.732/2024)

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[AMBADAS]

facility of Rs. 27,00,000/- vide sanction letters dated 15.07.2022

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on certain terms and conditions. The agreed rate of interest for the aforesaid loans was @8.5% p.a. with monthly rests applicable. The Defendants also agreed to pay additional interest of @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 facilities, the Defendants executed various loan documents in favour of the Applicant Bank. These included sanction letters, Hypothecation agreements, demand promissory notes, request letters, letter of continuity, housing loan agreement, letters of undertaking registered mortgage deeds bearing daybook nos. 1386 & 5705 dated 11.03.2022 & 29.07.2022 respectively in favour of the Applicant Bank.

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The Applicant Bank further contends that, in order to secure the aforesaid loan facilities sanctioned to them, the Defendant No. 1

(OA No.732/2024)

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[AMBADAS]

& 2 created first charge over their immovable property under

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mortgage deeds bearing daybook nos. 1386 & 5705 dated

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11.03.2022 & 29.07.2022 respectively in favour of the Applicant

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Bank. The mortgage was created in respect of the following

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property –

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All that piece and parcel of undivided northern side admeasuring 85.79 sq. mtrs along with construction of Plot No. 34 admeasuring 165 sq. mtrs out of survey No. 65/2/C situated at Dudhale Tq & Dist. Nandurbar which is bounded as under:

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East: Plot No. 33/B West: Colony Road North: Plot No. 35 South: 79.21 sq. mtrs Area of Plot No. 34

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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

(OA No.732/2024)

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[AMBADAS]

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 28.12.2023. Therefore, on 11.07.2024 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.

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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 23.01.2025.

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The applicant Bank has filed Claim Affidavit of evidence at Exhibit-4 of Mr. Gautam Kumar Tripathi, Branch Manager of the applicant Bank, and has produced on record the original loan transaction documents as Exh. A-1 to A-34 alongwith 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

(OA No.732/2024)

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[AMBADAS]

applicant Bank.

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 property of the borrowers which is mortgaged in favour of the applicant bank.

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The applicant Bank has claimed future interest @8.50 p. a. on both term loans from the date of filing i.e. 30.08.2024 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 @ 8 % 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.732/2024 is allowed with

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costs.

(OA No.732/2024)

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[AMBADAS]

(B) The defendants shall jointly and severally shall pay to the applicant Bank a sum of Rs. 38,06,538/- ( Rupees Thirty Eight Lacs Six Thousand Five Hundred and Thirty Eight only), along with future interest @ 8 % per annum (simple) from the date of filing of the Original Application i.e. 30.08.2024 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 property bearing daybook nos. 1386 & 5805 vide simple mortgage deeds dated 11.03.2022 & 29.07.2022 at Exh A-12, A-24 and A-26 in list of documents Exh. 5

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East: Plot No. 33/B West: Colony Road North: Plot No. 35 South: 79.21 sq. mtrs Area of Plot No. 34

(OA No.732/2024)

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(D) The applicant Bank is entitled to sell the mortgaged immovable property and hypothecated articles/goods, 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:. 20.08.2025 Debts Recovery Tribunal, Aurangabad

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(OA No.732/2024)

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[AMBADAS]

Union Bank of India v. Ganesh Dashrath Pimple

Case brief

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Union Bank of India v. Ganesh Dashrath Pimple

Case brief

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