Allowed

Punjab and Sind Bank v. M/S. Anil Goat Breed Farm Prop. Mr. Anil Uddhav Suryavamshi

DRT3 Nov 2025OA/787/2022

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed an application filed by Punjab & Sind Bank for recovery of Rs. 27,96,353.90 against three defendant borrowers and guarantors who failed to appear, ordering payment of principal and adjusted future interest.

What did the court decide?

Defendants shall pay Rs. 27,96,354 with future interest @9% p.a.; bank entitled to sell mortgaged property; recovery certificate issued.

Punjab and Sind Bank versus M/S. Anil Goat Breed Farm Prop… — Specific Performance | DRT (2025)

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Presented on: 04.01.2022 Registered on: 20.08.2022 Decided on: 03.11.2025 Duration: Y M D 03 09 29

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IN THE DEBTS RECOVERY TRIBUNAL AT PUNE (Before Shri Dilip G. Murumkar, Presiding Officer) ORIGINAL APPLICATION No.787/2022.

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Punjab & Sind Bank ,

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A Nationalized Bank, Government of India Undertaking, having its Head Office at Bank House, 21, Rajendra Place, New Delhi-110 008 and branch at 59/A, North Shivajinagar, Sangli416 416.

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… Applicant

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Versus

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1. M/s Anil Goat Breed Farm Proprietor – Mr. Anil Uddhav Suryavanshi Age 45 years, Occ.:-Business, R/at – Plot No.27, Paranjape Colony, Palus, Taluka Palus, District Sangli-416 310. Also at -

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At Post Pare, Khanapur, Dist. Sangli-415 311.

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2. Mr. Ajit Uddhav Suryavanshi

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Age 43 years, Occ.:-Business, R/at Karad Tasgaon Road, Surya Complex, Palus, District – Sangli. Also at –

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Flat No.1 and 2, 5^th Floor, Ganraj Prasad Apartment, Ganeshkhind, Rajwada, Taluka Miraj, Dist. Sangli-416 416.

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3. Mrs. Laxmi Dhondiram Kadam

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Age 50 years, Occ.:-Business, R/at – Govardhan, Palus, Taluka Palus, District Sangli-416 310.

…Defendants

(OA No.787/2022)

Page 1 of 5

[ANIL]

APPEARANCES

For the Applicant Advocate Yogesh R. Hirve For the Defendants Ex-parte

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TOTAL CLAIM AMOUNT –Rs.27,96,353.90Ps.

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JUDGMENT (Delivered on 3^rd November, 2025)

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The Applicant Bank has filed present application for recovery of Rs.27,96,353.90Ps. with future interest @12.30% p.a. with monthly rests towards Term Loan Account Nos.06591200000353 & 06591200000361 from the date of filing of Original Application till repayment /realization of the entire dues from the defendant Nos.1 to 3.

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Brief facts of the application are as under:

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The Applicant Bank states that Defendant No.1 was in financial need for construction of shed and breeding of goats, therefore, approached the applicant bank on 04.01.2013 for grant of Term Loan of Rs.15,00,000/-.

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Applicant Bank granted and sanctioned Term Loan of Rs.15,00,000/- to defendant No.1 for business purpose i.e. construction of shed and breeding of goats, on certain terms and conditions, which was agreed by Defendant No.1.

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In order to secure the aforesaid Loan facility, defendant No.1 executed loan and security documents as set out in Para Nos.5.6 of the Original Application, in favor of the Applicant Bank.

(OA No.787/2022)

Page 2 of 5

[ANIL]

In addition to this, towards Security for the repayment of the said loan facility, defendant No.1 created security by way of Mortgage dated 18.01.2013 registered in the Office of Sub Registrar Khanapur at Sr. No.205/2013 of the immovable property i.e. all that piece and parcel of agricultural land admeasuring 00H 25 Aar (being share of Mortgagor in the land), assessed of Rs.11 Ps 01, out of total land admeasuring 1 H 69 Aar + Pot Kharaba 0H 02 Aar, assessed at Rs.11 Ps01, bearing Gat No.279, situated at village Pare, Taluka Khanapur, District Sangli, in favour of the applicant.

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Applicant further submits that Defendant Nos.2 & 3 signed and executed Agreement of Guarantee (Form No.256 (RR) dated 05.02.2013 in favour of the applicant bank thereby guaranteeing repayment of the said loan.

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After completion of all the formalities and execution of the above Loan and Security documents, Defendant No.1 availed and utilized Term Loan fully from the applicant bank vide loan account Nos. 06591200000353 & 06591200000361.

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Defendant No.1 also executed Balance & Security Confirmation Letters dated 19.01.2016 and 11.01.2019 for two Term Loan Accounts acknowledging debt due on 19.01.2016 and 11.01.2019.

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Applicant Bank contended that defendant No.1 committed defaults in payment of installments as per the terms of sanction. Hence, the account of defendant No.1 with the applicant Bank has become Non-Performing Asset on 03.06.2017 in accordance with the guidelines of Reserve Bank of India.

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Hence, this application is filed.

(OA No.787/2022)

Page 3 of 5

[ANIL]

The defendants failed to appear despite service of summons. Hence, the application proceeded ex-parte as per order dated 24.06.2025 passed below Application (Exhibit-1).

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The Applicant Bank has filed Claim Affidavit (Exhibit-6) of Mr. Ravindra Singh Yadav, Manager and has produced on record the Loan Transaction documents at Exhibits.AW-1 to AW-23, 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 evidence of the applicant bank. Therefore, the applicant bank is entitled for the reliefs claimed.

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Applicant Bank has claimed future interest @12.30% per annum with monthly rests. However, considering the facts of the case, I am of the opinion that if future interest is granted @9% per annum (simple), it would be just and reasonable rate of interest.

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Hence, I pass the following order:-

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ORDER

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(A) Original Application No.787/2022 is allowed with costs.

(OA No.787/2022)

Page 4 of 5

[ANIL]

(B) Defendant Nos.1 to 3 either jointly or severally shall pay sum of Rs.27,96,354/- (Rupees Twenty-Seven Lakhs Ninety-Six Thousand Three Hundred Fifty-Four only] with future interest @9% p.a. (Simple) from the date of filing of the Original Application i.e. 04.01.2022 till payment/ realization of the amount mentioned in this operative order, to the applicant bank.

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(C) The aforesaid adjudicated amount is secured by creation of Deed of Mortgage dated 18.01.2013 regarding immovable property i.e. all that piece and parcel of agricultural land admeasuring 00H 25 Aar (being share of Mortgagor in the land), assessed of Rs.11 Ps 01, out of total land admeasuring 1 H 69 Aar + Pot Kharaba 0H 02 Aar, assessed at Rs.11 Ps 01, bearing Gat No.279, situated at village Pare, Taluka Khanapur, District Sangli, within the local limits of Taluka and Panchayat Samiti Khanapur, Jilha Parishad Pune and within the jurisdiction of Sub Registrar Khanapur, more particularly described in Schedule-I in the Original Application.

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(D) Applicant Bank is entitled to Sell the mortgaged property to recover the 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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Sd/(Dilip G. Murumkar) Place : Pune Presiding Officer, Date: 03.11.2025 Debts Recovery Tribunal, Pune.

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(OA No.787/2022)

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Page 5 of 5

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[ANIL]

Punjab and Sind Bank v. M/S. Anil Goat Breed Farm Prop. Mr. Anil Uddhav Suryavamshi

Case brief

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Punjab and Sind Bank v. M/S. Anil Goat Breed Farm Prop. Mr. Anil Uddhav Suryavamshi

Case brief

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