Debts Recovery Tribunal allowed the bank's ex-parte application for recovery of loan defaults. The court adjudicated principal amounts and granted future interest at 9% p.a., declining hypothecated asset relief due to lack of description while securing dues via a mortgage on mortgaged land.
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 .. 24.11.2022 Registered on .. 18.11.2023 Decided on .. 03.08.2026 Duration .. Y—M—D 03--08--09
IN THE DEBTS RECOVERY TRIBUNAL AT PUNE ( Before Shri Dilip G. Murumkar, Presiding Officer ) ORIGINAL APPLICATION No. 1586/2023.
UCO Bank,
A Corporate Body constituted under the Banking Companies (Acquisition & Transfer of Undertakings) Act 1970 and having its head office at 10, B.T.M. Sarani, Kolkata and branch at Market Yard, Indapur Road, Baramati, Taluka Baramati, District Pune.
… Applicant
Versus
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… Defendants
Appearances :-
For Applicant Advocate R.B. Ganbote. For Defendants Ex parte.
Total Claim Amount – Rs.29,81,326/-
JUDGMENT
( Delivered on 03rd August, 2026 )
As per the loan application of defendant Nos.1 and 2, the applicant Bank sanctioned and disbursed the Term loan facility of Rs.4,60,000/- to them for purchase of Blower Rotavator on 19.10.2015. Defendant Nos. 4 and 5
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stood guarantors for the repayment of loan availed by defendant Nos.1 and 2.
Thereafter, again as per the loan application of defendant Nos.1 and 3, the applicant Bank sanctioned and disbursed the following Term loan facilities to them for Lift irrigation, for plantation and for packing shed respectively.
| Name of facility | Amount Rs. | Date of Sanction | |
|---|---|---|---|
| 1 | Term Loan | 1,69,000/- | 09.06.2016 |
| 2 | Term Loan | 8,50,000/- | 09.06.2016 |
| 3 | Term Loan | 2,30,000/- | 09.06.2016 |
Defendant Nos. 2 and 4 stood guarantors for the repayment of loan availed by defendant Nos.1 and 3.
In order to secure the aforesaid loan facilities, the defendants have executed necessary loan and security documents in favour of the applicant Bank. Defendant Nos.1 and 3 have also executed registered deed of simple mortgage dated 14.06.2016 in favour of the applicant Bank in respect of all that piece and parcel of agriculture land bearing Gat No. 476/1/B(P) admeasuring 88R plus PK 1R situated at village Bori, Taluka Indapur, District Pune and all that piece and parcel of agriculture land
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bearing Gat No. 476/2(P) admeasuring 87R situated at village Bori, Taluka Indapur, District Pune.
The defendants have also executed Acknowledgments on 31.07.2018 and 30.06.2021 in favour of the applicant Bank and thereby confirmed the balance outstanding in loan account.
Hence, this application is filed.
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Manager and Principal Officer of the applicant Bank, and has produced on record the original loan transaction documents at Sr. Nos. AW1-1 to AW1-18 along with list (Exhibit 7), which corroborates the case of the applicant Bank.
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O R D E R
A} Original Application No. 1586/2023 is allowed with costs.
B} Defendant Nos.1, 2, 4 and 5 either jointly or severally shall pay to the applicant Bank the sum of Rs.8,80,801/(Rupees Eight Lakh Eighty Thousand Eight Hundred One only) towards Term Loan along with future interest @9% per annum from the date of filing of the Original Application i.e. 24.11.2022 till full payment/realization of the amount mentioned in this operative order.
C} Defendant Nos.1 to 4 either jointly or severally shall pay to the applicant Bank the sum of Rs.21,00,525/- (Rupees Twenty One Lakh Five Hundred Twenty Five only) towards three Term Loans along with future interest @9% per annum from the date of filing of the Original Application i.e. 24.11.2022 till full payment/realization of the amount mentioned in this operative order.
D} The aforesaid adjudicated amount is secured by the valid and subsisting mortgage in respect of all that piece and parcel of agriculture land bearing Gat No. 476/1/B(P) admeasuring 88R plus PK 1R situated at village Bori, Taluka Indapur, District Pune and all that
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piece and parcel of agriculture land bearing Gat No. 476/2(P) admeasuring 87R situated at village Bori, Taluka Indapur, District Pune, more particularly described in the Para No. 5.12 of the Original Application.
E} The applicant Bank is entitled to sell the mortgaged property to recover its dues.
F} Issue Recovery Certificate. G} The Registrar is directed to send the copy of Judgment and Recovery Certificate to the applicant and defendants.
Sd/( Dilip G. Murumkar ) Place : Pune Presiding Officer Date : 03.08.2026 Debts Recovery Tribunal, Pune.
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3 issues framed by the court
Whether the Debt Recovery Tribunal must grant relief for unquantified hypothecated assets?
What rate of future interest is reasonable when the court has not fully examined the claim documents?
Can the recovery petition be allowed in the absence of the defendants?
2 provisions across 2 enactments
UCO Bank
Shri Popat Yashwant Patil
Shri Hemant Yashwant Patil
Shri Ramrao Yashwantrao Patil
Shri Madhukar Yashwant Patil
Shri Mahadev Sundar Patil
Dilip G. Murumkar
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
Dilip G. Murumkar
Parties & counsel
