Allowed

Uco Bank v. Sachin Thombare

DRT3 Oct 2025OA/739/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an application by UCO Bank for recovery of dues aggregating over Rs.22 lakhs from borrowers and guarantors. The court reduced the claimed future interest rate to 9% per annum simple and ordered payment along with recovery of dues from the mortgaged property.

What did the court decide?

Respondents directed to pay Term Loan amount of Rs.15,26,909/ and part of Crop Loan of Rs.6,78,666/- with future interest at 9% p.a.; mortgaged property liable for recovery.

Uco Bank versus Sachin Thombare — Company and Corporate | DRT (2025)

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Presented on: 26.12.2019 Registered on: 20.08.2022 Decided on: 03.10.2025 Duration: Y M D 05 07 24

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IN THE DEBTS RECOVERY TRIBUNAL AT PUNE. (Before Shri Dilip G. Murumkar, Presiding Officer) ORIGINAL APPLICATION No.739/2022.

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UCO Bank ,

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A Corporate Body constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act 1970, having its Head Office at – 10, B.T.M. Sarani, Kolkata and branch amongst other places at Market Yard, Indapur Road, Baramati, Taluka Baramati, District Pune. Versus

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… Applicant

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1. Mr. Sachin Subhash Thombare

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2. Mr. Ravindra Subhash Thombare

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Both R/at Ward No.4, At & Post Bori,

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Taluka Indapur, District Pune-413 104.

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3 . Mr. Chandrakant Balkrishna Dhalpe

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4. Mr. Chandrakant Dnyandev Thombare

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5. Mr. Bhagwan Ramchandra Agarkar

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6. Mr. Somnath Vasant Thombare

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7. Ku. Pratibha Subhash Thombare

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Nos.3 yo 7 R/at & Post Bori, Taluka Indapur, District Pune-413 104 .

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… Defendants

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APPEARANCES For the Applicant Mr. R. B. Ganbote - Advocate For the Defendants Ex-parte.

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TOTAL CLAIM AMOUNT –Rs.22,05,575/-.

(OA No.739/2022)

Page 1 of 7

[ANIL]

JUDGMENT

(Delivered on 3^rd October, 2025)

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The Applicant Bank filed present application for recovery of aggregate sum of Rs.22,05,575/- [i.e. Rs.15,26,909/- towards Term Loan Accounts and Rs.6,78,666/- towards Crop Loan Accounts] with future interest thereon @15.75% p.a. & @12.80% p.a. respectively with monthly rests from the date of filing of the application till repayment/realization of entire dues from the defendants.

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Brief facts of the application are as under:

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Defendant Nos. 2 to 4 alongwith Late Ashabai Subhash Thombare approached applicant bank on 26.02.2014 and requested for Four Term Loans for Grape Garden of Rs.5,92,890/-; for Land Development of Rs.3,90,000/-; for Packing Shed of Rs.5,50,000/-; and for Well Renovation & RCC Ring of Rs.5,50,000/- to defendant No.2 and Late Ashabai Subhash Thombare. Defendants No.3&4 offered themselves as Guarantors for Securing the said credit facilities.

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The Applicant Bank sanctioned aggregate Credit Facility of Rs.17,70,000/- [ i.e. Rs.3,31,000/- for Land Development; Rs.4,67,000/- for Well Renovation & RCC Ring; Rs.5,00,000/for Grape Plantation and Rs.4,67,000/- for Packing Shed]

(OA No.739/2022)

Page 2 of 7

[ANIL]

on 18.06.2014 to defendant No.2 and Late Ashabai Subhash Thombare, on certain terms and conditions.

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In order to secure the aggregate Credit Facilities of Rs.17,70,000/-, the defendants have executed necessary loan transaction and security documents on 27.09.2014, in favour of the Applicant Bank as set out in Para Nos. 5.5 of the Original Application.

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So also, Late Ashabai Subhash Thombare has executed Simple Mortgage Deed on 01.08.2014 registered with Sub Registrar Office Indapur at Sr. No.3750/2014 and mortgaged the immovable property i.e. All that piece and parcel of Gat No.716/2/F (P) admeasuring 03 H 20R at village Bori, Taluka Indapur, within the limits of Bori Grampanchayat and also within the limits of Registration District Pune, Sub Registration District Indapur, District Pune, more particularly mentioned in Para No.5.7 of the Original Application.

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Defendant No.2 and Late Ashabai Subhash Thombare have executed four separate acknowledgments on 31.03.2017 and 03.05.2018 in favour of the applicant bank and confirmed the balance in all the four Loan Accounts of Defendant No.1 and 2 with the applicant bank.

(OA No.739/2022)

Page 3 of 7

[ANIL]

Defendant Nos.2,5,6 and Late Ashabai Subhash Thombare approached the applicant bank on 11.11.2014 and requested for grant of Crop Loan of Rs.9,32,000/- to Defendant No.2 and Late Ashabai Subhash Thombare. Defendant No.5 and 6 offered themselves as Guarantors for the Crop Loan for the said loan Crop Loan Facility.

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Applicant bank considered the request and sanctioned Crop Loan of Rs.9,32,000/- to defendant Nos.2,5,6 and Late Ashabai Subhash Thombare on 20.11.2014 on certain terms and conditions.

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In order to secure the Crop Loan Facility of Rs.9,32,000/-, the defendants have executed necessary loan transaction and security documents on 01.12.2014, in favour of the Applicant Bank as set out in Para Nos. 5.13 of the Original Application.

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Defendants have executed acknowledgments on 30.09.2017, 07.05.2018 & 17.05.2018 and confirmed the balance in the loan accounts with the applicant bank.

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It is contended that in spite of several requests, defendant No.2 and Late Ashabai Subhash Thombare have not paid the installments in the Term Loan Accounts and interest in Crop Loan Account and thus, they have committed breach of the

(OA No.739/2022)

Page 4 of 7

[ANIL]

sanction terms and conditions and hence, the accounts of defendants with the Applicant Bank turned Non-Performing Assets as per the Reserve Bank of India norms. Therefore, the applicant bank has demanded payment by personal visits and telephonically and also issued Recall Notice through its Advocate Ramesh B. Ganbote on 29.07.2019. Even issuance of recall notice, the defendants failed to pay the amount demanded in Recall Notice.

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Hence, this application is filed.

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Defendants failed to appear despite service of summons. Hence, the application proceeded ex-parte against them vide Order dated 02.06.2025 passed below the Application (Exhibit-01).

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The Applicant Bank has filed Claim Affidavit of evidence (Exhibit-6) of Mr. Lokesh Kumar, Branch Manager, which supports the case of the applicant elucidated in the application.

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The Applicant Bank has produced in evidence the original loan documents at Exhs.-AW-1 to AW-25, which corroborate the case of the Applicant Bank.

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

(OA No.739/2022)

Page 5 of 7

[ANIL]

Since the defendants failed to appear and contest the application, I find no reason to disbelieve the evidence of the Applicant Bank. Therefore, the Applicant Bank is entitled for reliefs as claimed.

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The Applicant Bank has claimed relief in respect of hypothecated assets. However, there is no detailed description with respect to the hypothecated assets. Therefore, the relief in terms of hypothecated assets cannot be granted.

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The Applicant Bank has claimed future interest @15.75% p.a. for Term Loan Accounts and @12.80% p.a. for Crop Loan Accounts. Considering the facts of the present case, I am of the opinion that if future interest is granted @9% p.a. (simple) for all the facilities, it would be just and reasonable.

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Hence, I pass the following order: -

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ORDER

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(A) Original Application No.739/2022 is allowed with costs.

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(B) ( i )- Defendant Nos.1 to 4 either jointly or severally shall pay an aggregate amount of Rs.15,26,909/- (Fifteen Lakhs Twenty Six Thousand Nine Hundred Nine only) to the Applicant Bank, towards Term Loan Accounts with future interest @ 9% p.a. from the date of filing of the Original Application i.e.26.12.2019 till payment / realization of the amount; and

(OA No.739/2022)

Page 6 of 7

[ANIL]

( ii )- Defendant Nos.1, 2, 5 & 6 either jointly or severally shall pay an aggregate amount of Rs.6,78,666/- (Rupees Six Lakhs Seventy Eight Thousand Six Hundred Sixty Six only) to the Applicant Bank, towards Term Loan Accounts with future interest @ 9% p.a. from the date of filing of the Original Application i.e.26.12.2019 till payment/realization of the amount.

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(C) The aforesaid adjudicated amount is secured by Simple Mortgage of the following immovable property i.e. All that piece and parcel of Gat No.716/2/F (P) admeasuring 03 H 20R at village Bori, Taluka Indapur, within the limits of Bori Grampanchayat and also within the limits of Registration District Pune, Sub Registration District Indapur, District Pune, more particularly mentioned in Para No.5.7 of the Original Application.

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(D) The Applicant Bank is entitled to sell the mortgaged property to recover its dues.

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(E) Issue Recovery Certificate.

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(F) The Registrar is directed to send the copy of Judgment and Recovery Certificate to the Applicant Bank and the defendants.

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Place: Pune Date: 03.10.2025

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Sd/(Dilip G. Murumkar) Presiding Officer, Debts Recovery Tribunal, Pune.

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(OA No.739/2022)

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Page 7 of 7

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[ANIL]

Uco Bank v. Sachin Thombare

Case brief

What is this about?

What did the court decide?

Uco Bank v. Sachin Thombare

Case brief

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