Allowed

Punjab National Bank v. Mrs. Rupali Mahesh Pandule

DRT20 Mar 2026OA/171/2024

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed the application of Punjab National Bank to recover Rs. 29.21 lakhs plus future interest at 7% p.a. from two defaulting borrowers and a guarantor. The mortgaged properties were declared as security for dues.

What did the court decide?

Order allowing the application for recovery of Rs. 29,21,024 with future interest at 7% p.a. and decreeing sale of mortgaged property.

Punjab National Bank versus Mrs. Rupali Mahesh Pandule — Banking and Recovery | DRT (2026)

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Presented on: 14.06.2023 Registered on: 08.03.2024 Decided on: 20.03.2026 Duration: Y M D 02 09 06

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IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 171/2024

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TOTAL CLAIM AMOUNT – Rs. 29,21,024/-

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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 at Ghogargaon , Tal. Shrigonda, Dist. Ahmednagar, through its Attorney Mr. Rahul N. … Applicant Potphode .

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Versus

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1. Mrs. Rupali Mahesh Pandule, Age: 32 years, Occ.: Agriculture, R/o.: Mahesh Niwas, Opp. Bharat Vidyalaya, At Post Mirajgaon, Tal. Karjat, Dist. Ahmednagar-01.

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2. Mrs. Suman Gangadhar Pandule,

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Age: 32 years, Occ.: Agriculture, R/o.: Mahesh Niwas, Opp. Bharat Vidyalaya,

(OA No.171/2024)

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[AMBADAS]

At Post Mirajgaon, Tal. Karjat, Dist. Ahmednagar-01.

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…Defendants

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APPEARANCES

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Mr. Sameer J. Pande -Advocate Ex-parte

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For the Applicant For Defendants

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JUDGMENT

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Delivered on 20.03.2026

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The Applicant Bank has filed the present application for the recovery of a sum of Rs. 29,21,024/- (Rupees Twenty Nine Lacs, Twenty One Thousand and Twenty Four only), along with future interest from the date of filing of the Original Application, i.e., 14.06.2023, 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

(OA No.171/2024)

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[AMBADAS]

Rs. 20,00,000/- vide sanction letter dated 21.07.2018 on certain

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terms and conditions. The agreed rate on interest was @8.05% p.a. with monthly rests. 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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In order to secure the aforesaid loan facility, the Defendant executed various loan documents in favour of the Applicant Bank. These included sanction letter, letter of undertaking, registered mortgage deed bearing daybook No. 2425/2018 dated 03.07.2018. Additionally defendant No. 2 stood as guarantor for

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defendant No. 1 and executed deed of guarantee 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 executed mortgage deed bearing daybook No. 2425/2018 dated 03.07.2018 in favour of

(OA No.171/2024)

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[AMBADAS]

the Applicant Bank. The mortgage was created in respect of the following properties:

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i) All that piece and parcel of Land admeasuring 2.42 H.R., part of Gut No. 193 of village Vahira, Tal. Ashti, Dist. Beed, owned and possessed by defendant No. 1.

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ii) All that piece and parcel of Land admeasuring 1.15 H.R., part of Gut No. 100/1 of village Mirajgaon, Tal. Karjat, Dist. Ahmednagar, owned and possessed by defendant No. 2.

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iii) All that piece and parcel of Land admeasuring 1.10 H.R., part of Gut No. 100/2 of village Mirajgaon, Tal. Karjat, Dist. Ahmednagar, owned and possessed by defendant No. 2.

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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

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to pay the same. The loan account of the defendants became

(OA No.171/2024)

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[AMBADAS]

irregular and classified as NPA on 31.03.2022. Therefore on 05.01.2023 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 court commissioner. Hence, the defendants were proceeded ex-parte as per Order dated 09.09.2025.

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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-15 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.

(OA No.171/2024)

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[AMBADAS]

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 property of the borrowers which is 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. 14.06.2023 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.

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ORDER

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(A) Original Application No. 171/2024 is allowed with costs.

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(B) The defendants shall pay jointly and severally to the applicant Bank a sum of Rs. 29,21,024/- (Rupees Twenty

(OA No.171/2024)

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[AMBADAS]

Nine Lacs, Twenty One Thousand and Twenty Four only), along with future interest @ 7% per annum (simple)

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from the date of filing of the O.A. i.e. 14.06.2023 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 vide document at Annexure A-3 in list of documents Exh. 5.

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i) All that piece and parcel of Land admeasuring 2.42 H.R., part of Gut No. 193 of village Vahira, Tal. Ashti, Dist. Beed, owned and possessed by defendant No. 1.

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ii) All that piece and parcel of Land admeasuring 1.15 H.R., part of Gut No. 100/1 of village Mirajgaon, Tal. Karjat, Dist. Ahmednagar, owned and possessed by defendant No. 2.

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iii) All that piece and parcel of Land admeasuring 1.10 H.R., part of Gut No. 100/2 of village Mirajgaon, Tal. Karjat, Dist. Ahmednagar, owned and possessed by defendant No. 2.

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(D) The applicant Bank is entitled to sell the mortgaged immovable property and hypothecated articles/goods etc., to recover its dues.

(OA No.171/2024)

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[AMBADAS]

(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:.20.03.2026 Debts Recovery Tribunal, Aurangabad

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(OA No.171/2024)

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Page 8 of 8

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[AMBADAS]

Punjab National Bank v. Mrs. Rupali Mahesh Pandule

Case brief

What is this about?

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Punjab National Bank v. Mrs. Rupali Mahesh Pandule

Case brief

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