Allowed

Canara Bank v. Rama Jadhav

DRT22 Jul 2025OA/904/2022

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed an application for recovery of dues from a borrower who failed to appear. The court directed payment of principal owed under Kisan Overdraft, KCC, and Term Loan accounts along with future interest at 9% p.a., and conferred power to sell mortgaged properties.

What did the court decide?

Defendant ordered to pay Rs.16,72,816 with future interest at 9% p.a.; power conferred to sell mortgaged property to recover dues.

Canara Bank versus Rama Jadhav — Banking and Recovery | DRT (2025)

¶1

Presented on: 05.07.2019 Registered on: 14.10.2022 Decided on: 22.07.2025 Duration: Y M D 06 -- 17

¶2

IN THE DEBTS RECOVERY TRIBUNAL AT PUNE (Before Shri Dilip G. Murumkar, Presiding Officer) ORIGINAL APPLICATION No.904/2022.

¶3

CANARA BANK ,

¶4

A Body corporate constituted under the Banking Companies Acquisition and Transfer of Undertakings Act, 1970 having its Head Office at- 143/1, Main Chowk, Hinjewadi, Pune.

¶5

… Applicant

¶6

Versus

¶7

Mr. Rama Yedu Jadhav

¶8

R/at Post Nere, Taluka Mulshi, District Pune-411 057. … Defendant

¶9

APPEARANCES For the Applicant Mr. R.B. Ganbote - Advocate For the Defendant Ex-parte.

¶10

TOTAL CLAIM AMOUNT –Rs.16,72,816/-.

¶11

JUDGMENT (Delivered on 22^th July, 2025)

¶12

Applicant Bank has filed present application for recovery of an aggregate sum of Rs.16,72,816/[ towards Kisan Overdraft Rs.10,66,286/-; towards KCC Account Rs.3,08,279/-; and towards Term Loan Account Rs.2,98,251/- ] together with future interest thereon

(OA No.904/2022)

Page 1 of 6

[ANIL]

@12.15% p.a. with half yearly rests respectively from the date of filing this Application i.e. 05.07.2019 till actual realization of the entire amount from the defendant.

¶17

2. Brief facts of the application are as under:-

¶18

Defendant approached to the Applicant Bank on 11.02.2013 for availing Kisan Overdraft of Rs.6,00,000/- for his agricultural needs. Applicant Bank considered the request of the Defendant and sanctioned Rs.6,00,000/-towards Kisan Overdraft to the Defendant on 11.02.2013, on certain terms and conditions.

¶19

Again defendant approached to the applicant bank and requested for KCC of Rs.2,00,000/- for his agricultural needs, which the applicant bank has granted on 11.02.2013.

¶20

Thereafter, again on 02.05.2013, the defendant approached the applicant bank and requested for Term Loan of Rs.1,70,000/- for Drip Irrigation Equipments and the applicant bank has granted the same on 04.05.2013 on terms and conditions mentioned in the sanction letter.

¶21

In order to secure the Kian Overdraft, KCC and Term Loan, defendant has executed necessary loan transaction and security documents, in favour of the Applicant Bank, as set out in Para Nos. 5.8, 5.11 & 5.17 of the Original Application.

¶22

Defendant has also executed Simple Mortgage Deed on 11.02.2013 and mortgaged below mentioned properties to and in

(OA No.904/2022)

Page 2 of 6

[ANIL]

favour of the applicant bank for securing the aggregate credit facilities of Rs.10,00,000/- sanctioned to the defendant, which are –

¶27

All that piece and parcel of Survey No.49 Hissa No.1, admeasuring 00 Hector 20Are assessed at Rs.0.47Ps. Survey No.49 Hissa No.2 admeasuring 00 Hector 21 Are plus potkharaba 01 Are assessed at Rs.0.47 Ps., Survey No.49, Hissa No.5 admeasuring 00Hector 22 Are assessed at Rs.0.94Ps, Survey No.49 Hissa No.6 admeasuring 00 Hector 50 Are assessed at Rs.2.44 Ps., Survey No.51 Hissa No.3 admeasuring 00 Hector 7.6Are assessed at Rs.0.62 Ps and Survey No.122 Hissa No.9 admeasuring 00 Hector 10Are assessed at Rs.0.44 Ps. at village Nere, Taluka Mulshi, within the limits of Grampanchayat Nere and also within the limits of Registration District Pune, Sub Registration District Mulshi 1 and 2, District Pune, more particularly mentioned in Para No.5.20 of the Original Application.

¶28

It is further contended that after availing and utilizing the above said loan facilities, there were over dues in Kisan Overdraft, KCC and Term Loan accounts and the defendant was not paying the installments and interest on time as originally agreed and subsequently assured and committed breach of terms and conditions of the sanction. Thereafter, Kisan Overdraft, KCC and Term Loan accounts of the defendant with the applicant bank classified as Non-Performing Asset as per Reserve Bank of India norms.

(OA No.904/2022)

Page 3 of 6

[ANIL]

Therefore, Applicant Bank issued Legal Notice dated 08.06.2017 through Panel Advocate Nilesh Naresh Bagul to the Defendant calling upon him to pay the remaining outstanding amounts but despite notice, the Defendant failed to regularize the account or close the account.

¶33

Hence, this application is filed.

¶34

Defendant failed to appear despite service of summons. Hence, the application proceeded ex-parte against him vide Order dt.28.02.2025 passed below Application (Exhibit-01).

¶35

Applicant Bank filed Claim Affidavit of evidence (Exhibit-6) of Miss. Shweta Bhimashankar Chadchan, Manager, which supports the case of the Applicant Bank elucidated in the application.

¶36

Applicant Bank has produced in evidence original loan documents at Sr. Nos. 1 to 21, which corroborate the case of the Applicant Bank.

¶37

I heard arguments of the learned Advocate for the Applicant Bank.

¶38

Since the Defendant 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.904/2022)

Page 4 of 6

[ANIL]

Applicant Bank has claimed future interest @12.15% p.a. for all the loan facilities. Having regard to the facts of the case, I am of the opinion that if future interest is granted @9% p.a. (Simple) for all the loan facilities, it would be just and reasonable rate of interest and the same is granted.

¶43

10 Hence, I pass the following order: -

¶44

ORDER

¶45

(A) Original Application No.904/2022 is allowed with costs.

¶46

(B) Defendant shall pay to the Applicant Bank Rs.16,72,816 /- (Rupees Sixteen Lakhs Seventy Two Thousand Eight Hundred Sixteen only) towards Kisan Overdraft Account, KCC Account and Term Loan Account with future interest @9% p.a. (Simple) from the date of filing of the Original Application i.e.05.07.2019 till payment/ realization of the amount mentioned in this operative order.

¶47

(C) The aforesaid adjudicated amount is secured by Simple Mortgage Deed dated 11.02.2013 in respect of the immovable properties:- All that piece and parcel of Survey No.49 Hissa No.1, admeasuring 00 Hector 20Are assessed at Rs.0.47Ps. Survey No.49 Hissa No.2 admeasuring 00 Hector 21 Are plus potkharaba 01 Are assessed at Rs.0.47 Ps., Survey No.49, Hissa No.5 admeasuring 00Hector 22 Are assessed at Rs.0.94Ps, Survey No.49 Hissa No.6 admeasuring 00 Hector 50 Are assessed at Rs.2.44 Ps., Survey No.51 Hissa No.3 admeasuring 00 Hector 7.6Are assessed at Rs.0.62 Ps and Survey No.122 Hissa No.9 admeasuring 00 Hector 10Are assessed at Rs.0.44 Ps. at village Nere, Taluka Mulshi, within the limits of Grampanchayat Nere and also within

(OA No.904/2022)

Page 5 of 6

[ANIL]

the limits of Registration District Pune, Sub Registration District Mulshi 1 and 2, District Pune, more particularly mentioned in Para No.5.20 of the Original Application.

¶52

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

¶53

(E) Issue Recovery Certificate.

¶54

(F) The Registrar is directed to send the copy of Judgment and Recovery Certificate to the Applicant and Defendants.

¶55

Place: Pune Date: 22.07.2025

¶56

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

¶57

(OA No.904/2022)

¶58

Page 6 of 6

¶59

[ANIL]

Canara Bank v. Rama Jadhav

Case brief

What is this about?

What did the court decide?

Canara Bank v. Rama Jadhav

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

Coram

Case details

Similar cases

Hdfc Bank versus Vedika Enterprises

Canara Bank versus Mohan

Bank of India versus M/S Torana Sweet Home and Dairy Farm, Prop. Mayur Bajirao Khandve

Hdfc Bank versus M/S. Musali Babasaheb Kalawant Prop Musali Babasaheb Kalawant

Bank of India versus Shivaji Mahadeo Parkad

Federal Bank versus Shankar