Allowed

Bank of India v. Vijaya Kharat

DRT28 Nov 2025OA/87/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the Bank of India's original application for recovery of Rs.16,39,793/- representing KCC, Mortgage, and Vehicle loans. The court directed repayment at 9% p.a. interest and creation of charge over mortgaged land.

What did the court decide?

Direction to respondents to pay Rs.16,39,793/- along with interest at 9% p.a. from filing date and to vote charge on mortgaged agricultural land.

Bank of India versus Vijaya Kharat — Contract and Commercial Disputes | DRT (2025)

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Presented on : 08.01.2018 Registered on : 21.01.2023 Decided on : 28.11.2025 Duration : Y M D 07 10 20

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IN THE DEBTS RECOVERY TRIBUNAL AT PUNE (Before Shri. Dilip G. Murumkar, Presiding Officer) ORIGINAL APPLICATION No.87/2023.

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BANK OF INDIA

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A Body corporate constituted under the Banking Companies Acquisition and Transfer of Undertakings Act, 1970 and having its Head Office at Star House, Plot No.C-5, G Block, Bandra Kurla Complex, Bandra (E), Mumbai-400 015 and its branch address at Kurul Branch, At & Post Kurul, Taluka Mohol, District Solapur-413 213.

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… Applicant

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Vs.

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1. Mrs. Vijaya Vilas Kharat Age Adult, Occ.:- Agriculture,

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2. Mr. Vilas Madhav Kharat

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Age adult, Occ.:- Agriculture,

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3. Mr. Pandurang Madhav Kharat Age adult, Occ.:- Agriculture,

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4. Mrs. Nirmala Pandurang Kharat Age adult, Occ.:- Agriculture,

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5. Mr. Amol Kuber Padwalkar Age adult, Occ.:- Agriculture, All R/at Post Puluj, Tal. Mohol District Solapur -413 304.

.. Defendants

(OA No.87/2023)

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[ANIL]

APPEARANCES

For the Applicant Mr. Satyaj Jagtap - Advocate For the Defendants Ex-parte.

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TOTAL CLAIM AMOUNT –Rs.16,39,793/-.

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JUDGMENT

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(Delivered on 28^th November, 2025)

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Applicant Bank has filed present application for recovery of an aggregate sum of Rs.16,39,793/- [Rs.1,32,631/- towards KCC Facility; Rs.6,44,514/- towards Mortgage Loan and Rs.8,62,648/- towards Vehicle Loan] together with future interest thereon @10.20%, @13.40% and @12.25% p.a. respectively from 20.12.2017 till payment/realization of entire dues from the defendants.

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Brief facts of the application are as under:

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Defendant No.1 approached the applicant bank on 29.12.2005 for KCC Facility for Crop Loan. Applicant bank sanctioned Rs.87,500/- to Defendant No.1 for Crop Loan, on certain terms and conditions.

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Defendant No.1 has executed certain loan documents in favour of the applicant bank to secure KCC facility of Rs.87,500/- as mentioned in Para No.5.4 of the Original Application. Defendant No.2 stood as guarantors in his personal capacity for the said KCC Facility of Rs.87,500/-.

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Defendant No.1 also executed Registered Deed of Mortgage in the office of Sub Registrar Pandharpur at Sr.No.555/2005 on

(OA No.87/2023)

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[ANIL]

25.02.2005 of the property bearing Agricultural land situated at Gat No.104/2B/2A (admeasuring area 2H 91R) situated at Puluj, Taluka Mohol, District Solapur.

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Defendant No.1 again approached applicant bank on 12.06.2007 requesting for Mortgage Loan for personal needs. The applicant bank sanctioned Mortgage Loan of Rs.4,40,000/- to Defendant No.1 on certain terms and conditions.

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Defendant No.1 has executed certain loan documents in favour of the applicant bank to secure Mortgage Loan of Rs.4,40,000/- as mentioned in Para No.5.9 of the Original Application.

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Defendant No.1 also executed Registered Deed of Mortgage in the office of Sub Registrar Pandharpur at Sr.No.1/2008 on 31.12.2007 of the property bearing Agricultural land situated at Gat No.104/2B/2A (admeasuring area 2H 91R) situated at Puluj, Taluka Mohol, District Solapur. Defendant Nos.3 to 5 stood as guarantors in their personal capacity for the said Mortgage Loan of Rs.4,40,000/-.

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Defendant No.1 again approached the applicant bank on 10.05.2011 requesting for Vehicle Loan for purchase of Vehicle Swift Vista. The applicant bank sanctioned Rs.4,80,000/- to Defendant No.1 for purchase of Swift Vista on 14.05.2011, on certain terms and conditions.

(OA No.87/2023)

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[ANIL]

Defendant No.1 has executed certain loan documents in favour of the applicant bank to secure Vehicle Loan of Rs.4,80,000/- as mentioned in Para No.5.13 of the Original Application.

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Defendant No.2 stood as guarantor in his personal capacity for the said Vehicle Loan of Rs.4,80,000/- and thereby executed Deed of Guarantee dated 14.05.2011 for Vehicle Loan of Rs.4,80,000/-. Defendant No.1 has hypothecated Swift VDI bearing Registration No. MH-13-AZ-0641.

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It is further contended that defendant No.1 utilized the advance by withdrawing amounts from its account with the applicant bank and made partial payments towards withdrawals as per the books of the applicant bank. Thereafter, defendants failed and neglected to comply with terms and conditions in which the said facility was granted to them. The Mortgage Loan, Vehicle Loan and KCC loan accounts were running irregular and defendants were reluctant to pay the amounts. Applicant bank therefore repeatedly called upon the defendants to regularize the accounts, by defendants failed and neglected to comply with the same.

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Hence, the applicant bank issued Legal Notice dated 23.09.2017 to the defendants and called upon them to repay the entire amount outstanding under the said loan accounts. However, defendants failed to comply with the requisitions contained in the legal notices and failed to repay the amounts outstanding in the loan accounts. Hence, this application is filed.

(OA No.87/2023)

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[ANIL]

Defendants failed to appear despite service of summons. Hence, the application proceeded ex-parte against the defendants vide order dated 11.06.2025 passed below the Application (Exhibit-01).

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The applicant Bank has filed Claim Affidavit of evidence (Exhibit-6) of Mr. Ashok Kanagi, Branch 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 Sr.Nos.AW-1/1 to AW-1/36, 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 evidence of the applicant bank. Therefore, the applicant bank is entitled for reliefs as claimed.

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The applicant bank has claimed relief in respect of hypothecated assets. However, there is no detailed description with respect to the hypothecated assets, except Swift VDI bearing Registration No. MH13-AZ-0641. Therefore, the relief in terms of hypothecated assets cannot be granted, except Swift VDI bearing Registration No. MH13-AZ-0641.

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Applicant Bank has claimed future interest @10.20%, @13.40% and @12.25% p.a. for the KCC Facility, Mortgage Loan and Vehicle Loan respectively. However, considering the facts of the case, I am of the opinion that if future interest is granted @9% per annum (simple) for

(OA No.87/2023)

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[ANIL]

all the loan accounts, 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.87/2023 is allowed with costs.

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(B) Defendants No.1 to 5 shall either jointly or severally pay the amounts mentioned below to the Applicant Bank as under-

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Defendant No.1 and 2 shall jointly or severally pay Rs.1,32,631/- (Rupees One Lakh Thirty-Two Thousand Six Hundred Thirty-One only) towards KCC Facility with interest thereon @9% p.a. (Simple) from the date of filing of the original application i.e. 08.01.2018 till realization of full amount;

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Defendant No.1, 3 to 5 shall jointly or severally pay Rs.6,44,514/- (Rupees Six Lakhs Fourty Four Thousand Five Hundred Fourteen only) towards Mortgage Loan with interest thereon @9% p.a. (Simple) from the date of filing of the original application i.e. 08.01.2018 till realization of full amount;

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Defendant No.1 to 5 shall jointly or severally pay Rs.8,62,648/- (Rupees Eight Lakhs Sixty-two Thousand Six Hundred Fourty Eight only) towards Vehicle Loan with interest thereon @9% p.a. (Simple) from the date of filing of the original application i.e.08.01.2018 till realization of full amount.

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(C)

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The aforesaid adjudicated amount is secured by creating charge of the applicant bank on the immovable property i.e. Agricultural land situated at Gat No.104/2B/2A (admeasuring area 2H 91R) situated at Puluj, Taluka Mohol, District Solapur, more particularly mentioned in the Original Application.

(OA No.87/2023)

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[ANIL]

(D) The Applicant Bank is entitled to sell the charged immovable property to recover its dues.

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(E) Issue Recovery Certificate.

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(F) The Registrar is directed to send copy of Judgment and Recovery Certificate to the applicant bank and the defendants.

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Sd/Place : Pune (Dilip G. Murumkar) Date: 28.11.2025 Presiding Officer, Debts Recovery Tribunal, Pune.

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(OA No.87/2023)

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[ANIL]

Bank of India v. Vijaya Kharat

Case brief

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Bank of India v. Vijaya Kharat

Case brief

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