Allowed

Uco Bank v. Digambar Shinde

DRT4 Nov 2025OA/841/2022

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed an application by UCO Bank to recover outstanding term loans, rescheduled loans, and KCC loan dues from three defendants who failed to appear. The court reduced the claimed future interest rate and directed recovery by mortgage of specific immovable property.

What did the court decide?

Respondents to jointly or severally pay Rs. 27,26,731/- plus future interest at 9% p.a. for term/rescheduled loans and 7% p.a. for KCC loan, secured by sale of mortgaged immovable property.

Uco Bank versus Digambar Shinde — Contract and Commercial Disputes | DRT (2025)

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Presented on: 26.12.2019 Registered on: 20.08.2022 Decided on: 04.11.2025 Duration: Y M D 05 10 08

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IN THE DEBTS RECOVERY TRIBUNAL AT PUNE. (Before Shri Dilip G. Murumkar, Presiding Officer) ORIGINAL APPLICATION No.841/2022.

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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.

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… Applicant

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Versus

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1. Shri. Digambar Kisan Shinde Age-Adult, Occ.:- Agriculture R/at – 37 A, Shindewadi, Post Kazad, Taluka Indapur, District Pune-413 104.

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2. Shri. Ankush Kashinath Mhetre Age-Adult, Occ.:- Agriculture R/at 195, Panmala, Kazad,

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Taluka Indapur, District Pune-413 104.

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3 . Shri. Mahadeo Dinkar Shinde Age-Adult, Occ.:- Agriculture R/at & Post Bori, Taluka Indapur, District Pune-413 104. … 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.27,26,731/-.

(OA No.841/2022)

Page 1 of 8

[ANIL]

JUDGMENT

(Delivered on 4^th November, 2025)

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Applicant Bank filed application for recovery of an aggregate sum of Rs.27,26,731/- [ i.e.Rs.10,72,479/- towards Term Loan Account No.12670510003480; Rs.7,83,004/- towards Term Loan Account No.12670510003497; Rs.4,73,643/- towards Rescheduled Account No.12670610006047; & Rs.3,97,605/towards KCC Account No.12670510002247 ] together with future interest thereon @14.50% for Term Loan accounts & Rescheduled Account and @7% p.a. for KCC Account from the date of filing of the application till repayment/realization of entire dues from Defendant Nos.1 to 3.

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Brief facts of the application are as under:

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Defendant Nos.1 to 3 approached the Applicant Bank on 02.06.2013 and requested for a Term Loan of Rs.6,50,000/- for Minor Irrigation and on 25.06.2013 for Term Loan of Rs.4,95,000/for Grape Plantation. Defendants No.2 & 3 offered them as Guarantor for Securing both Term Loans to be availed by Defendant No.1 from the applicant bank.

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The Applicant Bank considered the request of Defendant Nos. 1 to 3 favorably and sanctioned them Term Loan of Rs.6,50,000/for Minor Irrigation and Term Loan of Rs.4,95,000/- for Grape Plantation on 14.06.2013 on certain terms and conditions, which Defendant Nos.1 to 3 have accepted and signed Sanction Letter.

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Defendant Nos. 1 to 3 have executed certain documents on 25.06.2013 to secure both Term loan facilities in favour of applicant bank as mentioned in Para No.5.5 of the Original Application.

(OA No.841/2022)

Page 2 of 8

[ANIL]

Defendant No. 1 has executed Simple Mortgage Deed which was duly registered with Sub Registrar Office Baramati at Sr.No.5585/2013 dated 17.06.2013 and mortgaged the below mentioned property in favour of applicant bank for securing both Term Loans of an aggregate amount of Rs.11,45,000/-.

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The Mortgaged Property is all that piece and parcel of Gat No.499 (P) admeasuring 01 Hector 69 Aar Plus PK 03 Aar assessed at Rs.0.95Ps and Gat No.2(P) admeasuring 00 H 46 Aar plus PK 04 Aar assessed at Rs.0.16 Ps. at village Shindewadi, Taluka Indapur, with the limits of Shindewadi Grampanchayat and also within the limits of Registration District Pune, Sub Registration District Baramati, District Pune, more particularly described in Para No.5.7 of the Original Application.

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On 30.12.2015 and 30.12.2017 Defendant No.1 has executed two separate acknowledgements and confirmed the balance in Term Loan Account of Rs.6,50,000/- and Rs.4,95,000/- of Defendant No.1 with applicant bank.

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Defendant Nos. 1 to 3 again approached the Applicant Bank on 06.06.2014 and requested for rescheduling of the loan due to failure of Crop. The Applicant Bank considered the request of Defendant Nos.1 to 3 and rescheduled the loan of Defendant No.1 on 01.07.2014 on certain terms and conditions, which Defendant Nos.1 to 3 have accepted and signed the Sanction Letter.

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After rescheduling of Loan, defendant No.1 has executed Agreement with Borrower on rescheduling/ Rephasing of Term

(OA No.841/2022)

Page 3 of 8

[ANIL]

Loan of Rs.3,00,000/- on 01.07.2014. So also, Defendant No.2 and 3 have also executed Agreement with the Guarantor on rescheduling/ Rephasing of Term Loan on 01.07.2014.

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Thereafter, Defendant No.1 has executed two separate acknowledgments and confirmed the balance in the Rescheduled account of defendant No.1 with applicant bank on 31.12.2016 and 31.12.2016.

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Defendant Nos. 1 to 3 again approached the Applicant Bank on 06.08.2014 and requested for KCC loan of Rs.3,00,000/- for Crop Loan. Defendant Nos. 2 and 3 again offered themselves for securing of KCC to be availed by Defendant No.1 from the applicant bank.

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The Applicant Bank considered the request of Defendant Nos.1 to 3 and sanctioned KCC loan of Rs.3,00,000/- to Defendant No.1 on 06.08.2014 on certain terms and conditions, which Defendant Nos.1 to 3 have accepted and signed the Sanction Letter. Defendant Nos. 1 to 3 have executed certain documents in favour of the applicant bank to secure the above said KCC loan facility as mentioned in Para No.5.19 of the Original Application.

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It is contended that defendant Nos.1 to 3 are not paying the installments in both Term Loan Accounts and Rescheduled Account and also not paying the interest in KCC Account and the amounts are outstanding in all the accounts with future uncharged interest and penal interest till date. Hence, all the accounts of defendants with the Applicant Bank turned Non Performing Assets as per the Reserve Bank of India norms.

(OA No.841/2022)

Page 4 of 8

[ANIL]

There are overdue in all the loan accounts and Defendant No.1 to 3 are not paying interest in KCC account and also not paying installments in both the Term Loan accounts as agreed and committed breach of terms and conditions of the sanction. Therefore, the applicant bank has demanded payment by personal visits and telephonically. However, the defendants have given only false promises and have failed to regularize the account or close the account.

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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 19.06.2024 passed below the Application (Exhibit-01).

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The Applicant Bank has filed Claim Affidavit of evidence (Exh.-6) of Mr. Lokesh Kumar, Chief 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.

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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 reliefs as claimed.

(OA No.841/2022)

Page 5 of 8

[ANIL]

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 @14.50% for Term Loan accounts & Rescheduled Account and @7% p.a. for KCC Account. Considering the facts of the present case, I am of the opinion that if future interest is granted @9% p.a. (simple) for both Term Loan accounts & Rescheduled Account and @7% p.a. for KCC Account as prayed, 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.841/2022 is allowed with costs.

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Defendant Nos.1 to 3 shall jointly or severally pay an aggregate amount of Rs.27,26,731/- (Rupees TwentySeven Lakhs Twenty-Six Thousand Seven Hundred Thirty-One only) to the applicant bank as under –

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(B) Out of Rs. 27,26,731/-, Defendant Nos.1 to 3 either jointly or severally shall pay an amount of Rs.10,72,479/- (Rupees Ten Lakhs Seventy-Two Thousand Four Hundred Seventy-Nine only) towards Term Loan A/c No.12670510003480 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 mentioned in this operative order.

(OA No.841/2022)

Page 6 of 8

[ANIL]

Out of Rs. 27,26,731/-, Defendant Nos.1 to 3 either jointly or severally shall pay an amount of Rs.7,83,004/- (Rupees Seven Lakhs Eighty-Three Thousand Four only) towards Term Loan A/c No. 12670510003497 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 mentioned in this operative order.

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Out of Rs. 27,26,731/-, Defendant Nos.1 to 3 either jointly or severally shall pay an amount of Rs.4,73,643/- (Rupees Four Lakhs Seventy Three Thousand Six Hundred Fourty Three only) towards Rescheduled Loan A/c No.12670610006047 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 mentioned in this operative order.

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Out of Rs. 27,26,731/-, Defendant Nos.1 to 3 either jointly or severally shall pay an amount of Rs.3,97,605/- (Rupees Three Lakhs Ninety Seven Thousand Six Hundred Five only) towards KCC Loan A/c No. 12670510002247 with future interest @7% p.a. from the date of filing of the Original Application i.e. 26.12.2019 till payment /realization of the amount mentioned in this operative order.

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(C) The aforesaid adjudicated amount is secured by executing Mortgage Deed on the following immovable properties i.e. all that piece and parcel of Gat No.499 (P) admeasuring 01 Hector 69 Aar Plus PK 03 Aar assessed at Rs.0.95Ps and Gat No.2(P) admeasuring 00 H 46 Aar plus PK 04 Aar assessed at Rs.0.16 Ps. at village Shindewadi, Taluka Indapur, with the limits of Shindewadi Grampanchayat and also within the limits of Registration District Pune, Sub Registration District

(OA No.841/2022)

Page 7 of 8

[ANIL]

Baramati, District Pune, more particularly described in Para No.5.7 of the Original Application.

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

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(E) Issue Recovery Certificate. (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: 04.11.2025

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

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(OA No.841/2022)

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Page 8 of 8

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[ANIL]

Uco Bank v. Digambar Shinde

Case brief

What is this about?

What did the court decide?

Uco Bank v. Digambar Shinde

Case brief

What is this about?

What did the court decide?

What the court decided

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