Allowed

Bank of Maharashtra v. Bhupesh Lotu Patil

DRT17 Sept 2025OA/96/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an application filed by Bank of Maharashtra for recovery of dues amounting to Rs. 49,92,062/- along with future interest. The court directed payment by respondents jointly and severally and affirmed rights over mortgaged properties.

What did the court decide?

Payment of Rs. 49,92,062/- with future interest @ 9% p.a. secured by sale of mortgaged immovable properties and issuance of Recovery Certificate.

Bank of Maharashtra versus Bhupesh Lotu Patil — Banking and Recovery | DRT (2025)

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Presented on: 26.01.2022 Registered on: 29.04.2022 Decided on: 17.09.2025 Duration: Y M D 03 07 21

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IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 96/2022

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TOTAL CLAIM AMOUNT – Rs. 49,92,062/Bank of Maharashtra , A Body Corporate

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constituted under the Banking Companies (Acquisition of Undertaking) Act 5 of 1970, carrying on banking business and Having its Head Office at

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“Lokmangal”, 1501, Shivaji Nagar, Pune-411 005 and Zonal Office at Jalgaon, Khandesh Mill Shopping Complex, Chowk, Jalgaon and its Branch Office Jalgaon City branch, Through its Authorized Officer, Maya Ram Rajbhar, Age; 41 years., Occ.: Service, Working as Chief Manager, Bank of Maharashtra, Jalgaon City, Navi Peth Branch, Tal & Dist. Jalgaon.

… Applicant

(OA No.96/2022)

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[AMBADAS]

Versus

Mr. Bhupesh Lotu Patil, Age: Major, Occupation: Agriculturist, Residing at : 39-2-10, Sadguru Nagar, Shobha Zanv Chauk, Remand Colony, Village Meharun, Taluka And District Jalgaon.

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Smt. Tulsabai Lotu Patil, Age: Major, Occupation: Agriculturist, Residing at : 39-2-10, Sadguru Nagar, Shobha Zanv Chauk, Remand Colony, Village Meharun, Taluka And District Jalgaon.

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Shri. Lotu Gopal Patil, Age: Major, Occupation: Agriculturist, Residing at: Plot No. 25, Survey Nagar, Remand Colony, Village Meharun, Taluka And District Jalgaon.

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Shri. Anant Lotu Patil, Age: Major, Occupation: Agriculturist, Residing at: Plot No. 25, Survey Nagar, Remand Colony, Village Meharun, Taluka And District Jalgaon.

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…Defendants

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APPEARANCES

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For the Applicant For Defendants

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Mr. Atul A. Mishra -Advocate Ex-parte

(OA No.96/2022)

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[AMBADAS]

JUDGMENT Delivered on 17.09.2025

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The Applicant Bank has filed the present application for the recovery of a sum of Rs. 49,92,062/- (Rupees Forty Nine Lacs, Ninety Two Thousand, Sixty Two only), along with future interest from the date of filing of the Original Application, i.e., 26.01.2022, 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 Defendant No. 1 & 2 had approached and requested the Applicant Bank Term loan facility. Upon considering the request and financial needs of the Defendants, the Applicant Bank Sanctioned Term Loan facility of Rs. 49,92,062/- vide, sanction letter dated 21.01.2014 on certain terms and conditions. The agreed rate of interest was @13.25% p.a. with yearly rests. The Defendants also agreed to pay

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additional interest @2% by way of liquidated damages in the

(OA No.96/2022)

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[AMBADAS]

event of any default in repayment. The applicant bank further states that the defendants again approached bank seeking financial assistance for construction of poly house and cultivation of carnation under National Horticulture Mission. Upon considering the needs of the defendants, the applicant bank sanctioned Term loan facility of Rs. 26,00,000/- vide sanction letter dated 19.05.2015 on certain terms and conditions. The agreed rate of interest for the aforesaid loan facility was @13.25% p.a. with yearly rests. The Defendants also agreed to pay additional interest @ 2% by way of liquidated damages in the event of any default in repayment.

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In order to secure the aforesaid loan facilities, the Defendants executed various loan documents in favour of the Applicant Bank. These included sanction letters, demand promissory notes, mortgage deed bearing daybook no. 2711 dated 21.05.2015 and hypothecation agreements etc. Additionally, defendant Nos. 3 & 4 stood as guarantors for defendant no. 1 & 2

(OA No.96/2022)

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[AMBADAS]

and executed deeds of guarantee on 27.01.2014 & 22.05.2015 in

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favour of the Applicant Bank.

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The Applicant Bank further contends that, in order to secure the aforesaid loan facilities, the Defendants executed mortgage deed bearing daybook no. 2711 dated 21.05.2015in respect of following properties:

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i) All that piece and parcel of agriculture land bearing gut no. 110/2, admeasuring 73 (land belonging to defendant No. 1) i.e. 14 R situated at village kusumbe (Kh), Tal & Dist. Jalgaon, which is bounded as under:

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East: R.V. Mandora Land, West: Lan of V.N. Patil, North: Land of Lata South: Road.

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ii) All that piece and parcel of agriculture land bearing gut no. 110/2, admeasuring 73 (land belonging to defendant No. 2) i.e. 59 R situated at village kusumbe (Kh), Tal & Dist. Jalgaon, which is bounded as under:

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East: Land of Bhupesh, West: Lan of V.N. Patil, North: Land of Nahate, South: Gat No. 108.

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The applicant bank contended that the defendants have failed to

(OA No.96/2022)

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[AMBADAS]

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 21.05.2021. Therefore, on 29.07.2021 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 appeared in matter but failed to submit written statement. Hence, the right of defendants to file written statement stands closed as per Order dated 16.11.2023.

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The applicant Bank has filed Claim Affidavit of evidence at

(OA No.96/2022)

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[AMBADAS]

Exhibit-4 of Maya Ram Rajbhar, Chief Manager of the applicant Bank, and has produced on record the original loan transaction documents as Annexure A-1to A-12 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 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 @13.25% p.a. from the date of filing i.e. 26.01.2022 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

(OA No.96/2022)

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[AMBADAS]

@ 9% 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. 96/2022 is allowed with costs.

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(B) The defendants shall pay jointly and severally to the applicant Bank a sum of Rs. 49,92,062/- (Rupees Forty Nine Lacs, Ninety Two Thousand, Sixty Two only), along with future interest @ 9% per annum (simple) from the date of filing of the Original Application i.e. 26.01.2022 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 mortgage of the following immovable properties. Vide mortgage deed bearing daybook no. 2711 dated 21.05.2015 at Anxur. A-9 in the list of documents Exh. 5

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i) All that piece and parcel of agriculture land bearing gut no. 110/2, admeasuring 73(land belonging to defendant No. 1) i.e. 14 R situated at village kusumbe (Kh), Tal & Dist. Jalgaon, which is bounded as under: East: R.V. Mandora Land,

(OA No.96/2022)

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[AMBADAS]

West: Lan of V.N. Patil, North: Land of Lata South: Road.

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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:.17.09.2025

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

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(OA No.96/2022)

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[AMBADAS]

Bank of Maharashtra v. Bhupesh Lotu Patil

Case brief

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Bank of Maharashtra v. Bhupesh Lotu Patil

Case brief

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