Allowed

Central Bank of India v. Nagesh Kamble

DRT23 Jun 2025OA/893/2022

Case brief

AI extract

What is this about?

The Tribunal allowed the recovery application filed by Central Bank of India against four defendants. The debtors were directed to pay the outstanding principal of Rs. 12,31,079 along with future interest at 9% per annum. The recovery is secured by a mortgage on specific land property.

What did the court decide?

Recovery of Rs. 12,31,079 plus future interest at 9% p.a.; direction to sell mortgaged property and issue Recovery Certificate.

Central Bank of India versus Nagesh Kamble — Execution and Attachment | DRT (2025)

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Presented on .. 22.01.2018 Registered on .. 23.08.2022 Decided on .. 23.06.2025 Duration .. Y—M—D 07--05--01

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IN THE DEBTS RECOVERY TRIBUNAL AT PUNE (Before Shri Dilip G. Murumkar, Presiding Officer) ORIGINAL APPLICATION No. 893/2022.

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Central Bank of India,

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A Body corporate constituted under the Banking Companies (Acquisition & Transfer of Undertakings) Act No. V of 1970 having its Central Office at Chandramukhi, Nariman Point, Mumbai 400021 and branch office at – 2511, R.S. Mirgane Estate, Telgirni Chowk, Barshi, Solapur 413 401.

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… Applicant

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Versus

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1 Mr. Nagesh Dattatray Kamble, Age 39 years, Occ. Agriculturist, Add : House No. 4065, Yashwant Nagar, Taluka Barshi, District Solapur 413401

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2 Mrs. Kamal Dattatray Kamble, Age Adult, Occ. Agriculturist, Add : House No. 4065, Yashwant Nagar, Taluka Barshi, District Solapur 413401 Add : Mouje Soundare, Taluka Barshi, District Solapur 413 401.

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Sanap ( OA No. 893/2022 ) 1 of 5

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3 Mr. Ramesh Sadashiv Bhosale, Age Adult, Occ. Agriculture, Add : Gat No. 530, Plot No. 7, Bagwan Plot, Kasarwadi Road, Barshi, Taluka Barshi, District Solapur 413401

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4 Mr. Jayant Vishwasrao Bhangire, Age Adult, Occ. Agriculture, Add : Gat No. 530, Bagwan Plot, Kasarwadi Road, Barshi, Taluka Barshi, District Solapur 413401 … Defendants

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:- Appearances

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For Applicant Advocate Pradip Yadav. For Defendants Ex parte.

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Total Claim Amount – Rs.12,31,079/-

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JUDGMENT

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(Delivered on 23^rd June, 2025)

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The Applicant Bank has filed the present application for recovery of the sum of Rs.12,31,079/- together with future interest @10.60% per annum from the date of Application till realization of the entire dues from the defendants.

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Brief facts of the application are as under :-

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As per the loan application dated 16.08.2013 of defendant Nos. 1 and 2, the applicant Bank sanctioned the Term Loan facility of Rs.8,00,000/- and Cash Credit i.e. Crop Loan facility of Rs.1,00,000/- to defendant Nos. 1 and 2 vide Sanction Letter dated 13.10.2013. Defendant Nos. 3 and 4

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Sanap ( OA No. 893/2022 ) 2 of 5

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stood guarantors for the repayment of loan availed by defendant Nos. 1 and 2.

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In order to secure the aforesaid loan facilities, the defendants have executed necessary loan and security documents in favour of the applicant Bank. Defendant Nos.1 and 2 have also executed deed of mortgage dated 15.10.2013 in respect of all that piece and parcel of the land bearing Gat No. 578 admeasuring 2H 8R situated at village Soundare, Taluka Barshi, District Solapur, in favour of the applicant Bank. The defendants have also executed Balance Confirmation Letter on 31.03.2016 and thereby accepted the balance outstanding in loan account.

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The applicant Bank contended that the defendants committed defaults in payment of installments and failed to regularize the accounts. Hence, on 01.06.2016, the applicant Bank has classified the account of the defendants as Non Performing Asset in accordance with guidelines of Reserve Bank of India. Therefore, on 27.02.2017, the applicant Bank issued legal Notice to the defendants. Despite service of Notice, the defendants failed and neglected to pay the outstanding dues of the applicant Bank. Hence, this application is filed.

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The defendants failed to appear despite service of summons. Hence, the application proceeded ex-parte

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Sanap ( OA No. 893/2022 ) 3 of 5

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against the defendants as per Order dated 28.03.2025 passed below Application (Exhibit-1).

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The applicant Bank has filed Claim Affidavit of evidence (Exhibit-6) of Shri Subhash Yashwant Bhadane, Chief Manager as well as Power of attorney holder of the applicant Bank, and has produced on record the original loan transaction documents at Sr. Nos. AW-1 to AW-11 along with list (Exhibit 7), 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 evidence of the applicant Bank. Therefore, the applicant Bank is entitled for reliefs as claimed.

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The applicant Bank has claimed future interest @10.60% per annum. 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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O R D E R

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A} Original Application No. 893/2022 is allowed with costs. B} Defendant Nos.1 to 4 either jointly or severally shall pay

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Sanap ( OA No. 893/2022 ) 4 of 5

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to the applicant Bank the sum of Rs.12,31,079/- (Rupees Twelve Lakhs Thirty One Thousand Seventy Nine only) along with future interest @9% per annum from the date of filing of the Original Application i.e. 22.01.2018 till full payment/realization of the amount mentioned in this operative order.

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C} The aforesaid adjudicated amount is secured by the valid and subsisting mortgage of all that piece and parcel of the land bearing Gat No. 578 admeasuring 2H 8R situated at village Soundare, Taluka Barshi, District Solapur, more particularly described in the Para No. 5.8 of the Original Application.

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D} The applicant Bank is entitled to sell the mortgaged property to recover its 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 and defendants.

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Sd/( Dilip G. Murumkar ) Place : Pune Presiding Officer Date : 23.06.2025 Debts Recovery Tribunal, Pune.

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Sanap ( OA No. 893/2022 ) 5 of 5

Central Bank of India v. Nagesh Kamble

Case brief

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Central Bank of India v. Nagesh Kamble

Case brief

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