Allowed

Maharastra Gramin Bank v. M/S. Yerte Dal Udyog

DRT19 Nov 2025OA/871/2024

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed an application by Maharashtra Gramin Bank for recovery of outstanding dues of approx. Rs. 6.37 crore from borrowers and guarantors who failed to repay sanctioned credit facilities and term loans, along with interest at 10% p.a.

What did the court decide?

Recovery of Rs. 6,37,52,924/- plus 10% p.a. simple future interest and charge on mortgaged properties; issuance of Recovery Certificate.

Maharastra Gramin Bank versus M/S. Yerte Dal Udyog — Contract and Commercial Disputes | DRT (2025)

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Presented on: 28.10.2024 Registered on: 14.11.2024 Decided on: 19.11.2025 Duration: Y M D 01 00 21

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IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 871/2024

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TOTAL CLAIM AMOUNT – Rs. 6,37,52,924/-

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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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… Applicant

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1. M/s. YERTE DAL UDYOG, Through its Propreitor, Mr. Baswaraj Gurupadappa Yerte, Age: Major, Occ.: Business R/o.: Plot No. 37, Survey No. 29, N.P. H. B-2/2407 (New), R-8/1362/3 (Old), Adarsh Colony, Tq. and Dist. Latur-413512.

(OA No.871/2024)

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[AMBADAS]

2. Mr. Baswaraj Gurupadappa Yerte, Age: Major, Occ.: Business R/o.: Plot No. 37, Survye No. 29, N. P. H. B-2/ 2407 (New), R-8/1362/3 (Old), Adarsh Colony, Tq. & Dist. Latur-413512.

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3. Mrs. Manish Baswaraj Yerte,

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Age: Major, Occ.: Business R/o.: Plot No. 37, Survye No. 29, N. P. H. B-2/ 2407 (New), R-8/1362/3 (Old), Adarsh Colony, Tq. & Dist. Latur-413512.

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4. Mr. Shrinivas Sambhshiv Dontulwar,

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…Defendants

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Age: Major, Occ.: Business R/o.: Om Chambers, Opposite post office, Mitra Nagar, Tilak Nagar, Latur-413512. APPEARANCES

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For the Applicant Mr. K. D. Pande -Advocate For Defendants Ex-parte

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JUDGMENT Delivered on 19.11.2025

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The Applicant Bank has filed the present application for the recovery of a sum of Rs. 6,37,52,924/- (Rupees Six Crore, Thirty Seven Lacs, Fifty Two Thousand, Nine Hundred Twenty Four only), along with future interest from the date of filing of the Original

(OA No.871/2024)

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[AMBADAS]

Application, i.e., 28.10.2024, 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 Defendants No. 1 & 2 had approached and requested the Applicant Bank for Cash Credit Facility & Term loan facility. Upon considering the request and financial needs of the Defendants, the Applicant Bank sanctioned Cash Credit Facility of Rs. 6,00,00,000/- & Term loan of Rs. 16,00,000/- vide sanction letter dated 19.07.2022 on certain terms and conditions. The agreed rate of interest for the aforesaid loan facilities was @ 10% 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 Defendants executed various loan documents in favour of the Applicant Bank. These included sanction letters, composite deed, mortgage deed

(OA No.871/2024)

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bearing daybook no. 9934 dated 04.10.2022, demand promissory

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note etc. Additionally defendant No. 3 & 4 stood as guarantors for

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defendant No. 1 & 2 and executed deed of guarantee on

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30.08.2022 in favour of the 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. 9934 dated 04.10.2022 in favour of the Applicant

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Bank. The mortgage was created in respect of the following properties-

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i) All that piece and parcel of property bearing Plot No. A-101, admeasuring 7200 sq. mtrs. open Plot & 1592.47 sq. mtrs. Builtup area in Additional MIDC, Harungul Bk., Tq. & Dist. Latur, which is bounded as under:

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East: Plot No. A-102 & amenity, West: Plot No. A-100, South: MIDC Area Road, North: Plot No. A-110.

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ii) All that piece and parcel of property bearing H.P. House No. 3130, admeasuring 1 H 21 R, out of Block No. 76/A/1 of Aurad Shahajani, Tq. Nilanga, Dist. Latur, which is bounded as under: East: Land of Mohanlal Ramvallabh Zanwar,

(OA No.871/2024)

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[AMBADAS]

West: Road, South: Land of Adarsh Govardhandas Vyas, North: Land of Yetiraj Mohanlal Zanwar.

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iii) All that piece and parcel of residential building constructed over plot No. 37 bearing M.C.H. No. R-8/1362/3 admeasuring 396 sq. mtrs, in Adarsh Sahakari Co-Operative Society, Latur out of Land Survey No. 29, situated at Village Kanheri, Tq. & Dist. Latur within Latur City Municipal Corporation, Latur, which is bounded as under:

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East: 06 mtr. Wide road within society, West: Plot No. 42 of Balaji Shivajirao Sabde, South: Plot No. 38 of Gopinath Nagnathrao Terkar North: 12 mtr. Wide road within society.

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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 06.07.2024. Therefore on

(OA No.871/2024)

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18.10.2024 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 duly served. Hence, the defendants were proceeded ex-parte as per Order dated 31.01.2025.

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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-18 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

(OA No.871/2024)

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[AMBADAS]

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 % p.a. from the date of filing i.e. 28.10.2024 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 @ 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. 871/2024 is allowed with costs.

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(B) The defendants shall pay jointly and severally to the applicant Bank a sum of Rs. 6,37,52,924/- (Rupees Six Crore, Thirty Seven Lacs, Fifty Two Thousand, Nine Hundred Twenty Four only), along with future interest @

(OA No.871/2024)

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[AMBADAS]

10% per annum (simple) from the date of filing of the O.A. i.e. 28.10.2024 till full payment/realization of the

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amount mentioned in this operative order.

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(C) The aforesaid adjudicated amount is secured by the mortgage of the following immovable properties vide mortgage deed bearing daybook no. 9934 dated 04.10.2022 at Annexure A-12 in list of documents Exh. 5.

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i) All that piece and parcel of property bearing Plot No. A-101, admeasuring 7200 sq. mtrs open Plot & 1592.47 sq. mtrs. Built-up area in Additional MIDC, Harungul Bk., Tq. & Dist. Latur, which is bounded as under: East: Plot No. A-102 & amenity, West: Plot No. A-100, South: MIDC Area Road, North: Plot No. A-110.

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ii) All that piece and parcel of property bearing H.P. House No. 3130, admeasuring 1 H 21 R, out of Block No. 76/A/1 of Aurad Shahajani, Tq. Nilanga, Dist. Latur, which is bounded as under:

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East: Land of Mohanlal Ramvallabh Zanwar, West: Road, South: Land of Adarsh Govardhandas Vyas, North: Land of Yetiraj Mohanlal Zanwar.

(OA No.871/2024)

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[AMBADAS]

iii) All that piece and parcel of residential building constructed over plot No. 37 bearing M.C.H. No. R- 8/1362/3 admeasuring 396 sq. mtrs, in Adarsh Sahakari Co-Operative Society, Latur out of Land Survey No. 29, situated at Village Kanheri, Tq. & Dist. Latur within Latur City Municipal Corporation, Latur, which is bounded as under:

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East: 06 mtr. Wide road within society, West: Plot No. 42 of Balaji Shivajirao Sabde, South: Plot No. 38 of Gopinath Nagnathrao Terkar North: 12 mtr. Wide road within society.

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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.

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Sd/-

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Pronounced in open court. Place: Aurangabad Date:. 19.11.2025

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

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(OA No.871/2024)

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[AMBADAS]

Maharastra Gramin Bank v. M/S. Yerte Dal Udyog

Case brief

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Maharastra Gramin Bank v. M/S. Yerte Dal Udyog

Case brief

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