Allowed

Union Bank of India v. Shaikh Akeel Shaikh Nadar Pinjari

DRT11 Jul 2025OA/958/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal, Aurangabad allowed an application filed by Union Bank of India for recovery of housing loan dues. The respondents failed to appear, and the court decreed payment of the principal amount along with future simple interest, permitting the sale of mortgaged property to recover dues.

What did the court decide?

Defendants directed to pay aggregate sum of Rs. 35,77,109.32 with future interest @ 8.60% p.a.; bank entitled to sell mortgaged property and recover dues.

Union Bank of India versus Shaikh Akeel Shaikh… — Contract and Commercial Disputes | DRT (2025)

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Presented on: 11.12.2024 Registered on: 31.12.2024 Decided on: 11.07.2025 Duration: Y M D - - 07 --

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IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Shri Dr. J. R. Chauhan Presiding officer)

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TOTAL CLAIM AMOUNT – Rs.35,77,109.32 PS.

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ORIGINAL APPLICATION No.958/2024

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Union Bank of India ,

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a body corporate constituted under the Banking

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Companies (Acquisition & Transfer of undertakings) Act, 1970 having it's Registered Office at 239, Vidhan Bhavan Marg, Nariman Point, Mumbai-400021 & having branches amongst the other places at Branch, Bhusawal through it’s Power of Attorney, Mr. Tushar Dadarao Nawale (Branch Head), Age: 45 yrs, Occu: Service, R/o. Bhusawal, Tq. Bhusawal, Dist. Jalgaon 425201.

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… Applicant

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Versus

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[DAK] (OA No.958/2024) Page 1 of 8

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1.Shaikh Akeel Shaikh Nadar Pinjari Age: Major, Occu.: Business, R/o: At House No. 16/1, Plot No. 31, Khadka Shivar, Behind Balaji Tolkata, Bhusawal, Tq. Bhusawal, Dist. Jalgaon 425201.

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2.Mrs. Julekha Shaikh Akeel Pinjari

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Age: Major, Occu.: Business, R/o: At House No. 16/1, Plot No. 31, Khadka Shivar, Behind Balaji Tolkata, Bhusawal, Tq. Bhusawal, Dist. Jalgaon 425201.

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Defendants

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APPEARANCES

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For the Applicant Mr. K. D. Pande - Advocate For Defendants Exparte

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JUDGMENT (Delivered on 11^th July, 2025)

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The Applicant Bank has filed the present application for recovery of the sum of Rs. 35,77,109.32 PS (Rs. Thirty Five Lacs Seventy Seven Thousand One Hundred Nine & Thirty Two Ps Only) together with interest 8.60% per annum with monthly rests upon Housing loan from 14.11.2024 till the

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[DAK] (OA No.958/2024) Page 2 of 8

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full realization of the entire dues and costs from the defendants.

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Brief facts of the application are as under :

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That, the Defendant Nos. 1 & 2 had approached to the Applicant Bank and requested to sanction a Housing Loan facility. Upon considering the representations/requests and need of the defendants, the Applicant Bank sanctioned Housing Loan of Rs. 40,00,000/- vide sanction letter dated 20.01.2018 on certain terms & conditions. The agreed rate of interest was @ 8.30 % per annum with monthly rests. The defendants also agreed to pay an additional interest by way of liquidated damages @ 2% p.a. in case of default in repayment.

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In order to secure the aforesaid loan facilities, the defendants executed loan documents in favour of the applicant bank namely sanction letter, letter of continuity, demand promissory note for Rs.40 lacs, interest agreement, letter of undertaking, housing loan agreement dated 20.01.2018 and registered simple mortgage deed bearing daybook no.405 dated 25.01.2018, vide lisit of documents Exh.5

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[DAK] (OA No.958/2024) Page 3 of 8

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The applicant bank contended that to secure the Housing loan facility, the defendants have mortgaged their immovable property by executing registered simple mortgage deed bearing daybook no. 405 dated 25.01.2018 in favour of the applicant bank in respect of following property.

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All that piece & parcel of plot no.33, admeasuring total plot area 364.84 sq. mtrs and thereon built up ground floor area admeasuring 103.29 sq. mtrs, first floor 47.93 sq. mtrs, total built up are 151.22 sq. mtrs, Survey no.13/1 Bhusawal, Tq. Bhusawal, Dist. Jalgaon, which is bounded as under-

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East : Open Space West : 4.50 mtr. wide Road South : Plot No. 34

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North : Plot No. 30 to 32

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The applicant bank contended that the defendants have failed to keep their promises and commitments agreed by them with regard to due repayment of the loan amount. The defendants failed to operate the loan account properly within a year and failed to pay the agreed rate of interest as per terms and conditions of the sanction letter. Thereafter,

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[DAK] (OA No.958/2024) Page 4 of 8

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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 nonperforming asset on 23.05.2024. Therefore on 14.11.2024, the applicant Bank issued legal notice to the defendants through their Advocate. Despite service of Notice, 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 the matter though they were duly served, hence the defendants proceeded exparte as per Order dated 11.07.2025.

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The applicant Bank has filed Claim Affidavit of Evidence (Exhibit-4) of Tushar Dadarao Nawale, Branch Head of the applicant Bank and has produced on record the original loan transaction documents as Exh. A-1 to A-11, 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

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[DAK] (OA No.958/2024) Page 5 of 8

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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 applicant bank. Therefore, the applicant Bank is entitled for reliefs as claimed.

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The applicant Bank has claimed future interest @ 8.60% per annum with monthly rests compoundable from 19.11.2024 till the full realization of the entire dues and costs from the defendants. However, considering the facts and circumstances of the case, I am of the opinion that if future interest is granted @ 8.60% 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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ORDER

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(A) Original Application No.958/2024 is allowed with costs.

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(B) Defendants are ordered and directed to pay jointly and severally to the applicant the aggregate sum of Rs. 35,77,109.32 PS (Rs. Thirty Five Lacs Seventy Seven Thousand One Hundred Nine & Thirty Two Ps Only) alongwith future

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[DAK] (OA No.958/2024) Page 6 of 8

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interest @ 8.60% per annum (simple) from 11.12.2024 till full payment/realization of the amount.

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All that piece & parcel of plot no.33, admeasuring total plot area 364.84 sq. mtrs and thereon built up ground floor area admeasuring 103.29 sq. mtrs, first floor area 47.93 sq. mtrs, total built up are 151.22 sq. mtrs, Survey no.13/1 Bhusawal, Tq. Bhusawal, Dist. Jalgaon, which is bou nded as under-

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East : Open Space West : 4.50 mtr. wide Road South : Plot No. 34 North : Plot No. 30 to 32

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(D) The applicant bank is entitled to sell the mortgaged immovable properties, to recover its dues.

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[DAK] (OA No.958/2024) Page 7 of 8

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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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(G) File be consigned to the record room after due compliance.

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Place : Aurangabad. Date : 11.07.2025.

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

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[DAK] (OA No.958/2024) Page 8 of 8

Union Bank of India v. Shaikh Akeel Shaikh Nadar Pinjari

Case brief

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Union Bank of India v. Shaikh Akeel Shaikh Nadar Pinjari

Case brief

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