Allowed

Bank of Maharashtra v. Dnyaneshwar Eknath Bombale

DRT1 Oct 2025OA/775/2024

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed the Bank of Maharashtra's application for recovery of Rs. 20,34,827/- outstanding dues, directing joint and several payment by respondents with future interest at 11% and sale of mortgaged properties if dues remain unpaid.

What did the court decide?

Directors to pay Rs. 20,34,827/- with future interest at 11% simple p.a.; mortgage properties to secure dues; direction to issue Recovery Certificate.

Bank of Maharashtra versus Dnyaneshwar Eknath Bombale — Banking and Recovery | DRT (2025)

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Presented on: 19.08.2024 Registered on: 25.09.2024 Decided on: 01.10.2025 Duration: Y M D 01 01 12

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IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 775/2024

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TOTAL CLAIM AMOUNT – Rs. 20,34,827/-

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Bank of Maharashtra ,

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A Body Corporate constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act V of 1970, Having its Head Office at 1501, Lokmangal, Shivaji Nagar, Pune-and branch amongst other places at Asset Recovery Branch, Zonal Office Cidco Aurangabad, Through its Chief Manager, Mr. Randhir B. Prasad, Age: 44 years, Occu: Service as Chief Manager with Bank of Maharashtra, Zonal Office, Cidco Aurangabad. R/o.: Aurangabad.

… Applicant

Versus

(OA No.775/2024)

Page 1 of 9

[AMBADAS]

1. Mr. Dnyaneshwar Eknath Bombale Age: 43 years, Occupation: Agriculture, R/o.: Pachalgaon, Taluka Paithan, District Chhatrapati Sambhajinagar.

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2. Mr. Tukaram Eknath Bombale

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Age: 44 years, Occupation: Agriculture, R/o.: Pachalgaon, Taluka Paithan, District Chhatrapati Sambhajinagar.

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3. Mr. Baburao Sukhdeo Bombale

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Age: 60 years, Occupation: Agriculture, R/o.: Pachalgaon, Taluka Paithan, District Chhatrapati Sambhajinagar.

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…Defendants

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4. Mr. Shriram Baburao Bombale

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Age: 22 years, Occupation: Agriculture, R/o.: Pachalgaon, Taluka Paithan, District Chhatrapati Sambhajinagar.

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APPEARANCES

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For the Applicant Mr. P.N. Kapadia -Advocate For Defendants Ex-parte

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JUDGMENT

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Delivered on 01.10.2025

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The Applicant Bank has filed the present application for the

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recovery of a sum of Rs. 20,34,827/- (Rupees Twenty Lacs, Thirty Four Thousand, Eight Hundred and Twenty Seven only), along with

(OA No.775/2024)

Page 2 of 9

[AMBADAS]

future interest from the date of filing of the Original Application, i.e., 19.08.2024, 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 had approached and requested the Applicant Bank with a request to sanction term loan facility. Upon considering the request and financial needs of the Defendants, the Applicant Bank sanctioned Term loan facility of Rs. 17,09,000/- lacs for laying pipeline and EVM in the farm etc., vide sanction letter dated 24.05.2019 on certain terms and conditions. The agreed rate of interest for aforesaid loan facilities was @ 11.95% 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 Defendants executed various loan documents in favour of the Applicant Bank.

(OA No.775/2024)

Page 3 of 9

[AMBADAS]

These included sanction letters, demand promissory notes,

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registered mortgage deed bearing daybook No. 3684/2019 dated

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17.05.2019 and deeds of hypothecation etc. Additionally defendant No. 3 & 4 stood as guarantors for defendant no. 1 & 2 and executed deed of guarantee on 24.05.2019 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 Defendants executed registered mortgage deed bearing daybook No. 3684/2019 dated

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17.05.2019 in respect of following properties:

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i) All that piece and parcel of property bearing land bearing Survey No. 44/3 belonging to defendant No. 1 situated at village Diyanatpur, Taluka Paithan District Sambhajinagar, admeasuring 1 H 90 R, which is bounded as under:

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East: Shiv

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West: Land of Bhausaheb Janardhan South: Land of Eknath Rambhau North: Land of Tukaram Eknath.

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ii) All that piece and parcel of property bearing land bearing Survey No. 44/4 belonging to defendant No. 2 situated at village Diyanatpur, Taluka Paithan District Sambhajinagar, admeasuring 1 H 90 R, which is bounded as under:

(OA No.775/2024)

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[AMBADAS]

East: Shiv West: Land of Pandharinath South: Land of Dnyaneshwar Eknath. North: Land of Eknath Rambhau.

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iii) All that piece and parcel of property bearing land bearing Survey No. 142 belonging to defendant No. 2 situated at village Rahatgaon, Taluka Paithan District Sambhajinagar, admeasuring 1 H 20 R, which is bounded as under: East: Cart Track, West: Land of Shantabai Bombale South: Land of Nandabai Eknath North: Land of Lalitabai Vishnu Tambe.

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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 27.05.2024. Therefore on 05.03.2021 the applicant bank issued legal notice to the

(OA No.775/2024)

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[AMBADAS]

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 27.02.2025.

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The applicant Bank has filed Claim Affidavit of evidence at Exhibit-4 of Randhir B. Prasad, Chief Manager of the applicant Bank, and has produced on record the original loan transaction documents as Exh. A-1to A-14 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.775/2024)

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[AMBADAS]

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 @13.95% p.a. from the date of filing i.e. 19.08.2024 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 @ 11 % 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. 775/2024 is allowed with costs.

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(B) The defendants shall pay jointly and severally to the applicant Bank a sum of 20,34,827/- (Rupees Twenty Lacs, Thirty Four Thousand, Eight Hundred and Twenty Seven only), along with future interest @ 11% per annum (simple) from the date of filing of the O.A. i.e.

(OA No.775/2024)

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[AMBADAS]

19.08.2024 till full payment/realization of the amount mentioned in this operative order.

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mortgage of the following immovable properties. Vide simple mortgage deed bearing daybook no. 3684/2019 dated 17.05.2019 at Exh. A-7 in the list of documents Exh. 5

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East: Shiv

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West: Land of Bhausaheb Janardhan South: Land of Eknath Rambhau North: Land of Tukaram Eknath.

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East: Shiv West: Land of Pandharinath South: Land of Dnyaneshwar Eknath. North: Land of Eknath Rambhau.

(OA No.775/2024)

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[AMBADAS]

(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.

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Sd/-

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Pronounced in open court. (Dr. J. R. Chauhan) Place: Aurangabad Presiding Officer Date:.01.10.2025 Debts Recovery Tribunal, Aurangabad

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(OA No.775/2024)

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Page 9 of 9

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[AMBADAS]

Bank of Maharashtra v. Dnyaneshwar Eknath Bombale

Case brief

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Bank of Maharashtra v. Dnyaneshwar Eknath Bombale

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