Allowed

Maharastra Gramin Bank v. Bhimashankar Gurunathappa Bawage

DRT20 Sept 2025OA/77/2025

Case brief

AI extract

What is this about?

This judgment allows an original application for recovery of loan dues. The Debts Recovery Tribunal held the bank entitled to a principal sum of approximately Rs. 28.25 lakhs with future interest at 10% p.a., secured by specific mortgaged properties.

What did the court decide?

Recovery of Rs. 28,25,426/- with future interest at 10% p.a. secured by mortgage of specified properties. Recovery Certificate issued.

Maharastra Gramin Bank versus Bhimashankar… — Contract and Commercial Disputes | DRT (2025)

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Presented on: 24.01.2025 Registered on: 07.02.2025 Decided on: 20.09.2025 Duration: Y M D 00 08 26

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IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 77/2025

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TOTAL CLAIM AMOUNT – Rs. 28,25,426/-

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Maharashtra Gramin Bank ,

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A bank constituted under the Regional Rural Banks Act, 1976 having its Head Office at Plot No. 42, Gut No. 33, Near Disha Sanskruti Society, Village Golwadi, Chh. Sambhajinagar & having branches amongst the other places at Shivaji Chowk , Latur through its Authorized Officer, Mr. Tanaji Bhausaheb Kokate (Branch Manager), Age: 40 yrs., Occ.: Service, R/o. Shivaji Chowk, Latur.

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Versus

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1. Mr. Bhimashankar Gurunathappa Bawage, Age: Major, Occ.: Agri., R/o.: At Post Hasegaon, Tq. Ausa, Dist. Latur 413520.

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… Applicant

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2. Mrs. Jaidevi Bhimashankar Bawage,

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Age: Major, Occ.: Agri., R/o.: At Post Hasegaon, Tq. Ausa, Dist. Latur 413520.

(OA No.77/2025)

Page 1 of 9

[AMBADAS]

3. Mr. Mahesh Omprakash Bawage, Age: Major, Occ.: Agri., R/o.: At Post Hasegaon, Tq. Ausa, Dist. Latur 413520.

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4. Mr. Shivanand Gurunath Bawage, Age: Major, Occ.: Agri., R/o.: At Post Hasegaon, Tq. Ausa, Dist. Latur 413520.

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…Defendants

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APPEARANCES

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Mr. K. D. Pande -Advocate Ex-parte

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For the Applicant For Defendants

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JUDGMENT

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Delivered on 20.09.2025

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The Applicant Bank has filed the present application for the recovery of a sum of Rs. 28,25,426/- (Rupees Twenty Eight Lacs, Twenty Five Thousand, Four Hundred and Twenty Six only), along with future interest from the date of filing of the Original Application, i.e., 24.01.2025, 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:

(OA No.77/2025)

Page 2 of 9

[AMBADAS]

The Applicant Bank states that the Defendants No. 1 & 2 had approached and requested the Applicant Bank for housing loan facility. Upon considering the request and financial needs of the Defendants, the Applicant Bank sanctioned Home loan of Rs. 9,25,000/- vide sanction letter dated 16.02.2010 on certain terms and conditions. The agreed rate of interest for the aforesaid loan facilities was @ 9.50% p.a. with monthly rests. The Defendants also agreed to pay additional interest 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 executed various loan documents in favour of the Applicant Bank. These included sanction letter, composite agreement, housing loan agreement, mortgage deed bearing daybook No. 509 dated 17.02.2010, demand promissory note etc. Additionally defendant No. 3 & 4 stood as guarantors for defendant No. 1 & 2 and

(OA No.77/2025)

Page 3 of 9

[AMBADAS]

executed deed of guarantee on 19.02.2010 in favour of the

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applicant bank.

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The Applicant Bank further contends that, in order to secure the aforesaid loan facility, the Defendant No. 1 & 2 created first charge over their immovable properties under mortgage deed bearing daybook No. 509 dated 17.02.2010 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 land admeasuring 0 H 40 R out of Gut No. 380, situated at Village Hasegaon, Tq. Ausa, Dist. Latur, which is bounded as under:

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East: Land of Bhimashankar Bawage, West: Land of Ganesh Bhosan, South: Land of Nandkishor Bawage, North: Land of Shivanand Bawage.

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ii) All that piece and parcel of land admeasuring 4 H 79 R out of Gut No. 363, situated at Village Hasegaon, Tq. Ausa, Dist. Latur, which is bounded as under:

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East: Land of Dayanand Bawage, West: Land of Hiraman Rathod, South: Land of Hariba Dhanu Ade, North: Land of Nawanath Suryawanshi.

(OA No.77/2025)

Page 4 of 9

[AMBADAS]

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 20.06.2018. Therefore on 10.01.2025 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 exparte as per Order dated 30.08.2025.

(OA No.77/2025)

Page 5 of 9

[AMBADAS]

The applicant Bank has filed Claim Affidavit of evidence at Exhibit-4 of Mr. Tanaji Bhausaheb Kokate, Branch Manager of the applicant Bank, and has produced on record the original loan transaction documents as Exh. A-1 to A-28 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.

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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 @ 12.95 % p.a. from the date of filing i.e. 24.01.2025 of this application till

(OA No.77/2025)

Page 6 of 9

[AMBADAS]

realization of the claim amount. However, considering the facts of the case, I am of the opinion that if future interest is granted @

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10% 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. 77/2025 is allowed with costs.

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(B) The defendants shall pay jointly and severally to the applicant Bank a sum of Rs. 28,25,426/- (Rupees Twenty Eight Lacs, Twenty Five Thousand, Four Hundred and Twenty Six only), along with future interest @ 10 % per annum (simple) from the date of filing of the O.A. i.e. 24.01.2025 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 no. 509 vide registered mortgage deed dated 17.02.2010 at Exh. A-10 in list of documents Exh. 5.

(OA No.77/2025)

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[AMBADAS]

i) All that piece and parcel of land admeasuring 0 H 40 R out of Gut No. 380, situated at Village Hasegaon, Tq. Ausa, Dist. Latur, which is bounded as under: East: Land of Bhimashankar Bawage, West: Land of Ganesh Bhosan, South: Land of Nandkishor Bawage, North: Land of Shivanand Bawage.

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ii) All that piece and parcel of land admeasuring 4 H 79 R out of Gut No. 363, situated at Village Hasegaon, Tq. Ausa, Dist. Latur, which is bounded as under:

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East: Land of Dayanand Bawage, West: Land of Hiraman Rathod, South: Land of Hariba Dhanu Ade, North: Land of Nawanath Suryawanshi.

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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.

(OA No.77/2025)

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[AMBADAS]

Sd/-

Pronounced in open court. Place: Aurangabad Date:. 20.09.2025

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

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(OA No.77/2025)

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Page 9 of 9

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[AMBADAS]

Maharastra Gramin Bank v. Bhimashankar Gurunathappa Bawage

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Maharastra Gramin Bank v. Bhimashankar Gurunathappa Bawage

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