Allowed

Union Bank of India v. Bhimrao Baburao Chabukswar

DRT7 Oct 2025OA/741/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal disposed of an original application filed by Union Bank of India for recovery of loan dues amounting to Rs. 23,66,487 along with future interest as the defendants failed to appear in court.

What did the court decide?

Respondents directed to pay Rs. 23,66,487 with future interest at 7% per annum simple; mortgage secured; recovery certificate issued.

Union Bank of India versus Bhimrao Baburao Chabukswar — Specific Performance | DRT (2025)

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Presented on: 04.09.2024 Registered on: 12.09.2024 Decided on: 07.10.2025 Duration: Y M D 01 01 03

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IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 741/2024

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TOTAL CLAIM AMOUNT – Rs. 23,66,487/-

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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: 38 years, Occ.: Service, R/o. Plot No. 3, 1^st Floor, Sahakar Colony, Shahnoorwadi, … Applicant Aurangabad 431005.

Versus

(OA No.741/2024)

Page 1 of 9

[AMBADAS]

1. Mr. Bhimrao Baburao Chabukswar, Age: Major, Occ.: Business R/o.: At B-13, Mirajgave Vishwa, Deolai Road, Satara Parisar, Chh. Sambhajinagar 431001.

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2. Mrs. Kalpana Bhimrao Chabukswar, Age: Major, Occ.: Business R/o.: At B-13, Mirajgave Vishwa, Deolai Road, Satara Parisar, Chh. Sambhajinagar 431001.

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3. Mrs. Jayshri Jaysingh Kamble,

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Age: Major, Occ.: Business R/o.: At B-7, Mirajgave Vishwa, Deolai Road, Satara Parisar, Chh. Sambhajinagar 431001.

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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 07.10.2025

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The Applicant Bank has filed the present application for the recovery of a sum of Rs. 23,66,487/- (Rupees Twenty Three Lacs, Sixty Six Thousand, Four Hundred and Eighty Seven only), along with future interest from the date of filing of the Original

(OA No.741/2024)

Page 2 of 9

[AMBADAS]

Application, i.e., 04.09.2024, 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 & 2 approached and requested the Applicant Bank for Home Loan loan facility. Upon considering the request and financial needs of the Defendants, the Applicant Bank sanctioned Home loan facility of Rs. 20,79,000/- lacs vide sanction letter dated 19.03.2020 on certain terms and conditions. The agreed rate of interest for the aforesaid loan was @8.20% p.a. with monthly 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 & 2 executed various loan documents in favour of the Applicant Bank. These included sanction letter, letter of continuity, housing loan agreement letter of undertaking, hypothecation agreement,

(OA No.741/2024)

Page 3 of 9

[AMBADAS]

demand promissory note, registered sale deeds bearing day book

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nos. 3316, 3516 & 1793 dated 01.10.2009, 29.09.2017 &

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19.08.2020 etc., in favour of the applicant bank. Additionally defendant No. 3 stood as guarantor for defendant No. 1 & 2 and executed deed of guarantee dated 19.03.2020 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 property under registered sale deeds bearing day book nos. 3316, 3516 & 1793 dated 01.10.2009, 29.09.2017 & 19.08.2020 respectively in favour of the Applicant Bank. The

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mortgage was created in respect of the following property-

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All that piece and parcel of Row House NO. B-7 admeasuring 69.36 sq. mtrs. plot area with 69.36 sq. mtrs. Built-up are & Balcony Boxes admeasuring 40.64 sq. mtrs. i.e. total super builtup area 110.00 sq. mtrs. in “Murahgave Vishawa” constructed on Plot No. 11, 13, 16 to 21, 26 to 35, 44 to 52, 57 to 61 out of Gut No. 81 (P), situated at Deolai, Tq. And Dist. Aurangabad which is bounded as under:

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East: 6.00 mtr. Wide road, West: Row House No. C-18 & C-19,

(OA No.741/2024)

Page 4 of 9

[AMBADAS]

South: Row House NO. B-6, North: Row House NO. B-6.

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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 30.09.2019. Therefore, on 25.07.2024 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.

(OA No.741/2024)

Page 5 of 9

[AMBADAS]

The defendants failed to appear in matter though they were served through RPAD. Hence, the defendants were proceeded exparte as per Order dated 20.01.2025.

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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 applicant Bank. Therefore, the applicant Bank is entitled for the reliefs as claimed.

(OA No.741/2024)

Page 6 of 9

[AMBADAS]

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 @8.20% p. a. from the date of filing i.e. 04.09.2024 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 @ 7% 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. 741/2024 is allowed with costs.

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(B) The defendants shall pay jointly and severally to the applicant Bank a sum of Rs. 23,66,487/- (Rupees Twenty Three Lacs, Sixty Six Thousand, Four Hundred and Eighty Seven only), along with future interest @ 7% per annum (simple) from the date of filing of the O.A. i.e. 04.09.2024 till full payment/realization of the amount mentioned in this operative order.

(OA No.741/2024)

Page 7 of 9

[AMBADAS]

(C) The aforesaid adjudicated amount is secured by the mortgage of the following immovable properties. Vide sale deeds bearing day book nos. 3316, 3516 & 1793 dated 01.10.2009, 29.09.2017 & 19.08.2020 at Exh. A- 13, A-14 & A-15in the list of documents Exh. 5.

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All that piece and parcel of Row House NO. B-7 admeasuring 69.36 sq. mtrs. plot area with 69.36 sq. mtrs. Built-up are & Balcony Boxes admeasuring 40.64 sq. mtrs. i.e. total super built-up area 110.00 sq. mtrs. in “Murahgave Vishawa” constructed on Plot No. 11, 13, 16 to 21, 26 to 35, 44 to 52, 57 to 61 out of Gut No. 81 (P), situated at Deolai, Tq. And Dist. Aurangabad which is bounded as under:

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East: 6.00 mtr. Wide road, West: Row House No. C-18 & C-19, South: Row House NO. B-6, North: Row House NO. B-6.

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(D) The applicant Bank is entitled to sell the mortgaged immovable property and hypothecated articles/goods etc., to recover its dues.

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(E) Issue Recovery Certificate accordingly.

(OA No.741/2024)

Page 8 of 9

[AMBADAS]

(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:.07.10.2025

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

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(OA No.741/2024)

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Page 9 of 9

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[AMBADAS]

Union Bank of India v. Bhimrao Baburao Chabukswar

Case brief

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Union Bank of India v. Bhimrao Baburao Chabukswar

Case brief

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