Allowed

Union Bank of India v. Mr. Girish Nandu Kharde

DRT3 Jun 2026OA/152/2024

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed Union Bank of India's application for recovery of Rs. 28,62,113.14 plus 7% future interest against three borrowers and a guarantor proceeding ex parte, securing dues against mortgaged agricultural land and directing sale of assets and issuance of a Recovery Certificate.

What did the court decide?

Direct payment of Rs. 28,62,113.14 plus 7% future interest; sale of mortgaged properties; issuance of Recovery Certificate.

Union Bank of India versus Mr. Girish Nandu Kharde — Contract and Commercial Disputes | DRT (2026)

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Presented on: 11.06.2023 Registered on: 06.03.2024 Decided on: 03.06.2026 Duration: Y M D 02 11 22

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IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 152/2024

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TOTAL CLAIM AMOUNT – Rs. 28,62,113.14/-

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Union Bank of India,

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(Erstwhile “Corporation Bank”) A Body Corporate constituted under the Banking companies (Acquisition and Transfer of Undertakings) Act 1970, Having its Registered office at 239, Vidhan Bhavan Marg, Nariman Point, Mumbai-400021 & having branches amongst the other places at Station Road, Dist. Ahmednagar and having branches amongst the other places at Pravaranagar, Tq. Rahata, Dist. Ahmednagar, through its Power of Attorney, Mr. Kapil s/o Vijaysingh Bilwal (Law Officer), Age: 38 years, Occ.: Regional Office, Ahmednagar.

… Applicant

Versus

(OA No.152/2024)

Page 1 of 8

[AMBADAS]

1. Mr. Girish Nandu Kharde, Age: Major, Occ.: Agri., R/o.: At Post Kolhar Bk., Tq. Rahata, Dist. Ahmednagar 413710.

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2. Mr. Rohit Nandu Kharde,

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Age: Major, Occ.: Agri., R/o.: At Post Kolhar Bk., Tq. Rahata, Dist. Ahmednagar 413710.

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3. Mr. Abhay Nandkishor Kharde,

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Age: Major, Occ.: Agri., R/o.: At Post Kolhar Bk., Tq. Rahata, Dist. Ahmednagar 413710.

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…Defendants

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APPEARANCES

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For the Applicant For Defendants

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Mr. K. D. Pande -Advocate Ex-parte

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JUDGMENT Delivered on 03.06.2026

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The Applicant Bank has filed the present application for the recovery of a sum of Rs. 28,62,113.14/- ( Rupees Twenty Eight Lacs, Sixty Two Thousand, One Hundred Thirteen and Fourteen Paisa only), along with future interest from the date of filing of the Original Application, i.e., 11.06.2023, until the date of realization of the entire outstanding dues from the Defendants.

(OA No.152/2024)

Page 2 of 8

[AMBADAS]

Brief facts of the application are as under:

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The Applicant Bank states that the Defendant No. 1 & 2 approached and requested the Applicant Bank for Term loan facility. Upon considering the request and financial needs of the Defendants, the Applicant Bank Sanctioned Term loan facility of Rs. 13,45,000/- for agriculture purpose vide sanction letter dated 26.11.2014 on certain terms and conditions. The agreed rate of interest for the aforesaid loan facility was @12.30% p.a. with half 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 facility, the Defendant No. 1 & 2 executed various loan documents in favour of the Applicant Bank. These included sanction letter, letter of undertaking, hypothecation agreement, demand promissory note, registered Annexure (Anusuchi) executed u/s. 5 (1) of Maharashtra State Finance Act 1974 dated 08.12.2014 etc., in favour of the applicant

(OA No.152/2024)

Page 3 of 8

[AMBADAS]

bank. Additionally defendant No. 3 stood as guarantor for

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defendant Nos. 1 & 2 and executed deed of guarantee dated

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12.12.2014 in favour of the applicant bank.

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The Applicant Bank further contends that, in order to secure the aforesaid loan facility, the Defendants created first charge over their immovable property under registered Annexure (Anusuchi)

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executed u/s. 5 (1) of Maharashtra State Finance Act 1974 dated

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08.12.2014 in favour of the Applicant Bank. The mortgage was

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created in respect of the following properties-

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i) All that piece & parcel of agricultural land admeasuring 0 H 91 R out of Gut No. 267, situated at Village Kolhar, Tq. Rahata, Dist. Ahmednagar.

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ii) All that piece & parcel of agricultural land admeasuring 0 H 60 R out of Gut No. 267, situated at Village Kolhar, Tq. Rahata, Dist. Ahmednagar.

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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

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operate the loan account properly and failed to pay the agreed

(OA No.152/2024)

Page 4 of 8

[AMBADAS]

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 31.03.2023. Therefore, on 27.04.2023 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 failed to appear in matter though they were served through summons. Hence, the defendants were proceeded ex-parte as per Order dated 25.02.2026.

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The applicant Bank has filed Claim Affidavit of evidence at Exhibit-4 of Mr. Kapil Vijaysingh Bilwal, Power of Attorney Holder of the applicant Bank, and has produced on record the original loan transaction documents as Exh. A-1 to A-19 along with list of

(OA No.152/2024)

Page 5 of 8

[AMBADAS]

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 did not 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 @12.30% p. a. from the date of filing i.e. 11.06.2023 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), it would be just and reasonable rate of interest.

(OA No.152/2024)

Page 6 of 8

[AMBADAS]

ORDER

(A) Original Application No. 152/2024 is allowed with costs.

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(B) The defendants shall pay jointly and severally to the applicant Bank a sum of Rs. 28,62,113.14/- ( Rupees Twenty Eight Lacs, Sixty Two Thousand, One Hundred Thirteen and Fourteen Paisa only), along with future interest @ 7% per annum (simple) from the date of filing of the O.A. i.e. 11.06.2023 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 documents at Exh. A-10 in the list of documents Exh. 5.

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i) All that piece & parcel of agricultural land admeasuring 0 H 91 R out of Gut No. 267, situated at Village Kolhar, Tq. Rahata, Dist. Ahmednagar.

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ii) All that piece & parcel of agricultural land admeasuring 0 H 60 R out of Gut No. 267, situated at Village Kolhar, Tq. Rahata, Dist. Ahmednagar.

(OA No.152/2024)

Page 7 of 8

[AMBADAS]

(D) The applicant Bank is entitled to sell the mortgaged immovable properties and hypothecated assets/articles/goods/vehicle 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. (Dr. J. R. Chauhan) Place: Aurangabad Presiding Officer Date:.03.06.2026 Debts Recovery Tribunal, Aurangabad

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(OA No.152/2024)

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Page 8 of 8

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[AMBADAS]

Union Bank of India v. Mr. Girish Nandu Kharde

Case brief

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Union Bank of India v. Mr. Girish Nandu Kharde

Case brief

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