Allowed

Punjab National Bank v. Baban Rangnath Pawar

DRT17 Mar 2026OA/141/2025

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed the bank's application for recovery of loan dues. The court proceeded ex parte against absent defendants, validated the claim based on unrebutted evidence, and ordered payment of principal plus 7% future interest.

What did the court decide?

DECREE FOR PAYMENT OF Rs. 24,39,549/- AND 7% SIMPLE FUTURE INTEREST; ORDER OF SALE OF MORTGAGED PROPERTIES; ISSUE OF RECOVER CERTIFICATE.

Punjab National Bank versus Baban Rangnath Pawar — Contract and Commercial Disputes | DRT (2026)

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Presented on: 26.01.2025 Registered on: 28.02.2025 Decided on: 17.03.2026 Duration: Y M D 01 01 21

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IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 141/2025

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TOTAL CLAIM AMOUNT – Rs. 24,39,549/-

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Punjab National Bank,

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A Body Corporate constituted under the Banking companies (Acquisition & Transfer of Undertakings) Act 1970, having its Head Office at Plot No. 4, Sector10, Dwarka, New Delhi-110075, and one of its Branch Ghogargaon , Tal. Shrigonda, Dist. Ahmednagar, through its Attorney Mr. Rahul Nathaji Potphode .

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… Applicant

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Versus

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1. Baban Rangnath Pawar, Age: 59 years, Occ.: Business, R/o.: At Banpimpri, Post Mandavgan, Tal. Shrigonda, Dist. Ahmednagar – 414401.

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2. Dwarkabai Bhanudas Shete, Age: 71 years, Occ.: Business, R/o.: At Banpimpri, Post Mandavgan, Tal. Shrigonda, Dist. Ahmednagar – 414401.

(OA No.141/2025)

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[AMBADAS]

…Defendants

APPEARANCES

For the Applicant For Defendants

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Mr. Sameer J. Pande -Advocate Ex-parte

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JUDGMENT

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Delivered on 17.03.2026

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The Applicant Bank has filed the present application for the recovery of a sum of Rs. 24,39,549/- (Rupees Twenty Four Lacs, Thirty Nine Thousand, Five Hundred and Forty Nine only), along with future interest from the date of filing of the Original Application, i.e., 26.01.2025, 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 had approached and requested the Applicant Bank for Cash Credit Facility. Upon considering the request and financial needs of the Defendant, the Applicant Bank sanctioned Cash Credit Facility of

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Rs. 8,78,000/- vide sanction letter dated 07.11.2015 on certain

(OA No.141/2025)

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[AMBADAS]

terms and conditions. The Defendant also agreed to pay additional interest @2% by way of liquidated damages in the event of any default in repayment.

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Thereafter the defendant again approached the applicant bank for financial assistance. Upon considering the request and needs of the defendant, the applicant bank sanctioned term loan of Rs. 5,48,000/- vide sanction letter dated 03.05.2017 on certain terms and conditions.

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In order to secure the aforesaid loan facilities, the Defendant executed various loan documents in favour of the Applicant Bank. These included sanction letters, letters of undertaking, registered mortgage deeds bearing daybook Nos. 4350/2015, 554/2017 dated 25.08.2016 & 14.02.2017 respectively. Additionally defendant No. 2 stood as guarantor for defendant No. 1 and executed deed of guarantee in favour of the Applicant Bank

(OA No.141/2025)

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[AMBADAS]

The Applicant Bank further contends that, in order to secure the aforesaid loan facility, the Defendants executed mortgage deeds

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bearing daybook Nos. 4350/2015, 554/2017 dated 25.08.2016 &

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14.02.2017 respectively in favour of the Applicant Bank. The

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mortgage was created in respect of the following properties:

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Schedule of Mortgage lands - I

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i) All that piece and parcel of Agriculture land total admeasuring 2.06 H.R. (adm. 2.04 H.R. + Pot Kharab 0.02 H.R.), part of Gut No. 145/1 of village Banpimpari, Tal. Shrigonda, Dist. Ahmednagar, which is bounded as under: East: Land of Gut No. 145/2, West: Land of Gut No. 144, North: Road, South: Land of Gut No. 142.

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ii) All that piece and parcel of Agriculture land total admeasuring 2.90 H.R. (adm. 2.89 H.R. + Pot Kharab 0.01 H.R.), part of Gut No. 144/3 of village Banpimpari, Tal. Shrigonda, Dist. Ahmednagar, which is bounded as under:

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East: Land of Gut No. 145/1, West: Land of Gut No. 143, North: Land of Gut No. 144/2, South: Land of Gut No. 145/2.

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iii) All that piece and parcel of Agriculture land total admeasuring 2.02 H.R., part of Gut No. 161 of village Ruikhel, Tal. Shrigonda, Dist. Ahmednagar, which is bounded as under:

(OA No.141/2025)

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[AMBADAS]

East: Land of Gut No. 161, West: Road, North: Land of Gut No. 159, South: Land of Gut No. 160.

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Schedule of Mortgage lands - II

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i) All that piece and parcel of Agriculture land total admeasuring 2.02 H.R. part of Gut No. 161 of village Ruikhel, Tal. Shrigonda, Dist. Ahmednagar, which is bounded as under: East: Land of Gut No. 162, West: Land of Gut No. 195, North: Land of Gut No. 186, South: Land of Gut No. 163.

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ii) All that piece and parcel of Agriculture land total admeasuring 2.06 H.R. (adm. 2.04 H.R. + Pot Kharab 0.02 H.R.), part of Gut No. 145/1 of village Banpimpari, Tal. Shrigonda, Dist. Ahmednagar, which is bounded as under:

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East: Land of Gut No. 145/2, West: Land of Gut No. 164, North: Land of Gut No. 162, South: Land of Gut No. 145/3.

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iii) All that piece and parcel of Agriculture land total admeasuring 2.90 H.R. (adm. 2.89 H.R. + Pot Kharab 0.01 H.R.), part of Gut No. 144/3 of village Banpimpari, Tal. Shrigonda, Dist. Ahmednagar, which is bounded as under: East: Land of Gut No. 145/1, West: Land of Gut No. 143, North: Shiv (i.e. village boundaries), South: Land of Gut No. 142.

(OA No.141/2025)

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[AMBADAS]

iv) All that piece and parcel of Agriculture land total admeasuring 2.06 H.R. (adm. 2.05 H.R. + Pot Kharab 0.01 H.R.), part of Gut No. 145/2 of village Banpimpari, Tal. Shrigonda, Dist. Ahmednagar, which is bounded as under: East: Land of Gut No. 145/2, West: Land of Gut No. 142, North: Land of Gut No. 154, South: Land of Gut No. 141.

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The applicant bank contended that the defendants have failed to 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. Therefore on 01.10.2024 the applicant bank issued legal notice to the defendants through their advocate. Despite service of Notices, the defendants failed and

(OA No.141/2025)

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[AMBADAS]

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 matter though they were served through RPAD. Hence, the defendants were proceeded exparte as per Order dated 12.09.2025.

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The applicant Bank has filed Evidence Affidavit at Exhibit-4 of Mr. Rahul s/o. Nathaji Potphode, Power of Attorney Holder of the applicant Bank, and has produced on record the original loan transaction documents as Annexure A-1 to A-21 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.

(OA No.141/2025)

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[AMBADAS]

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 @15% p. a. from the date of filing i.e. 26.01.2025 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 @ 7% per annum (simple) on outstanding amount, it would be just and reasonable rate of interest.

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ORDER

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(A) Original Application No. 141/2025 is allowed with costs.

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(B) The defendants shall pay jointly and severally to the applicant Bank a sum of Rs. 24,39,549/- (Rupees Twenty Four Lacs, Thirty Nine Thousand, Five Hundred and Forty Nine only), along with future interest @ 7% per annum

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(simple) from the date of filing of the O.A. i.e. 26.01.2025

(OA No.141/2025)

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[AMBADAS]

till full payment/realization of the amount mentioned in this operative order.

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mortgage of the following immovable properties vide documents at Annexure A-2 and A-9 in list of documents

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Exh. 5.

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Schedule of Mortgage lands - I

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East: Land of Gut No. 145/2, West: Land of Gut No. 144, North: Road, South: Land of Gut No. 142.

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East: Land of Gut No. 145/1, West: Land of Gut No. 143, North: Land of Gut No. 144/2, South: Land of Gut No. 145/2.

(OA No.141/2025)

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[AMBADAS]

iii) All that piece and parcel of Agriculture land total admeasuring 2.02 H.R., part of Gut No. 161 of village Ruikhel, Tal. Shrigonda, Dist. Ahmednagar, which is bounded as under: East: Land of Gut No. 161, West: Road, North: Land of Gut No. 159, South: Land of Gut No. 160. Schedule of Mortgage lands - II i) All that piece and parcel of Agriculture land total admeasuring 2.02 H.R. part of Gut No. 161 of village Ruikhel, Tal. Shrigonda, Dist. Ahmednagar, which is bounded as under:

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East: Land of Gut No. 162, West: Land of Gut No. 195, North: Land of Gut No. 186, South: Land of Gut No. 163.

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East: Land of Gut No. 145/2, West: Land of Gut No. 164, North: Land of Gut No. 162, South: Land of Gut No. 145/3.

(OA No.141/2025)

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[AMBADAS]

East: Land of Gut No. 145/1, West: Land of Gut No. 143, North: Shiv (i.e. village boundaries), South: Land of Gut No. 142.

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East: Land of Gut No. 145/2, West: Land of Gut No. 142, North: Land of Gut No. 154, South: Land of Gut No. 141.

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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)

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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. (Dr. J. R. Chauhan) Place: Aurangabad Presiding Officer Date:.17.03.2026 Debts Recovery Tribunal, Aurangabad

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(OA No.141/2025)

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[AMBADAS]

Punjab National Bank v. Baban Rangnath Pawar

Case brief

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Punjab National Bank v. Baban Rangnath Pawar

Case brief

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