The Debts Recovery Tribunal allowed the bank's application for recovery of loan dues filed against a defaulting borrower who appeared ex parte, modifying the claimed future interest rate to 9% p.a.
Defendant shall pay Rs.22,46,965/- along with future interest at 9% per annum from the filing date.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
Presented on .. 21.01.2022 Registered on .. 22.08.2023 Decided on .. 06.05.2026 Duration .. Y—M—D 04--03--15
IN THE DEBTS RECOVERY TRIBUNAL AT PUNE (Before Shri Dilip G. Murumkar, Presiding Officer) ORIGINAL APPLICATION No. 1172/2023.
Union Bank of India,
Erstwhile Corporation Bank,
A body corporate constituted under the Banking Companies (Acquisition & Transfer of Undertakings) Act, 1980, having its head office at 239, Vidhan Bhavan Marg, Nariman Point, Mumbai – 400 021 and Branch at – Office No.2, D Wing, 1st Floor, Javakar Plaza, Main Road, Ratnagiri 415 612.
… Applicant
Versus
Mr. Aniket Sugandh Chavande, Age Adult, Occ. Agri. & Business, R/at – Block No. 1446, Chavandewadi, Chavande Vathar, Taluka and District Ratnagiri.
… Defendant
Appearances :-
For Applicant Advocate Srinivas Y. For Defendant Ex parte.
Total Claim Amount – Rs.22,46,964=93
Sanap ( OA No. 1172/2023 ) 1 of 5
JUDGMENT (Delivered on 06th May, 2026)
The defendant was in need of financial assistance for the purpose of working capital requirement and therefore, approached to the applicant Bank. After considering request of the defendant, the applicant Bank sanctioned and disbursed the Cash Credit facility of Rs.9,50,000/- and Term loan facility of Rs.14,25,000/- to the defendant on 09.06.2017.
In order to secure the aforesaid loan facility, the defendant has executed necessary loan and security documents in favour of the applicant Bank along with deed of hypothecation.
The defendant has also executed Acknowledgment of Debt and security on 01.06.2020 in favour of the applicant Bank and thereby confirmed the balance outstanding in loan account.
Sanap ( OA No. 1172/2023 ) 2 of 5
Sanap ( OA No. 1172/2023 ) 3 of 5
Hence, I pass the following order.
O R D E R
Sanap ( OA No. 1172/2023 ) 4 of 5
Sd/( Dilip G. Murumkar ) Place : Pune Presiding Officer Date : 06.05.2026 Debts Recovery Tribunal, Pune.
Sanap ( OA No. 1172/2023 ) 5 of 5
Union Bank of India
Mr. Aniket Sugandh Chavande
Dilip G. Murumkar
As recorded by the court registry
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