The Tribunal allowed the applicant Bank's application for recovery of Rs. 1.12 crore plus future interest at 7% p.a. from defaulting borrowers and guarantors, including a charge over a mortgaged residential property and a direction to issue a recovery certificate.
Payment of Rs. 1,12,36,168/- with future interest at 7% p.a.; mortgage secured; recovery certificate issued.
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: 13.02.2025 Registered on: 24.03.2025 Decided on: 20.05.2026 Duration: Y M D 01 03 07
IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 179/2025
TOTAL CLAIM AMOUNT – Rs. 1,12,36,168/-
CANARA BANK,
A Body Corporate constituted under the Banking companies (Acquisition & Transfer of Undertakings) Act, 1970, having its Head Office at 112, J.C. Road, Bangalore Karnataka State and one of its Branch at Railway Station Road, Aurangabad, through its … Applicant Authorized Chief Manager Mr. Akhilesh Chandra Mohan Chandra Joshi.
Versus
1. Ayush Enterprises,
Through its Proprietor Nilesh Rajesh Shah, Oswal Market, MIDC Waluj area at Pandharpur, Tq. and Dist. Aurangabad 431133.
2. Nilesh Rajesh Shah,
Age: 44 years, Occ.: Business, R/o.: House No. RL 29, Ambedkar Chowk, Bajaj Nagar, Tq. and Dist. Aurangabad-431136.
(OA No.179/2025)
Page 1 of 8
[AMBADAS]
3. Shankar Mhasuji Tambe, Age: 53 years, Occ.: Business, R/o.: House No. 5-10-46/3, Kokanwadi, Behind District Court, Aurangabad.
4. Giresh Damodar Chapalgaonkar,
Age: 56 years, Occ.: Business, R/o.: A/6, Vrindawan Gardan, Jyoti Nagar, Aurangabad.
…Defendants
APPEARANCES
Mr. Sameer J. Pande -Advocate Ex-parte
For the Applicant For Defendants
JUDGMENT
Delivered on 20.05.2026
Brief facts of the application are as under:
(OA No.179/2025)
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[AMBADAS]
(OA No.179/2025)
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[AMBADAS]
All that piece and parcel of residential House No. 5-10-46/3, admeasuring 480.9 Sq. Meters, constructed on CTS No. 18249, situated at Kokanwadi, Aurangabad, which is bounded as under: East: Lane, West: Govt. Land and Manisha Colony, South: House of Uttam Tambe, North: Remaining Land of Tambe.
(OA No.179/2025)
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[AMBADAS]
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.
(OA No.179/2025)
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[AMBADAS]
evidence of the applicant Bank. Therefore, the applicant Bank is entitled for the reliefs as claimed.
ORDER
and Sixty Eight only), along with future interest @ 7%
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[AMBADAS]
per annum (simple) from the date of filing of the O.A. i.e. 13.02.2025 till full payment/realization of the amount
mentioned in this operative order.
All that piece and parcel of residential House No. 5-1046/3, admeasuring 480.9 Sq. Meters, constructed on CTS No. 18249, situated at Kokanwadi, Aurangabad, which is bounded as under: East: Lane, West: Govt. Land and Manisha Colony, South: House of Uttam Tambe, North: Remaining Land of Tambe.
(OA No.179/2025)
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[AMBADAS]
Sd/-
Pronounced in open court. (Dr. J. R. Chauhan) Place: Aurangabad Presiding Officer Date:.20.05.2026 Debts Recovery Tribunal, Aurangabad
(OA No.179/2025)
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[AMBADAS]
3 issues framed by the court
Whether the applicant Bank is entitled to recover the outstanding dues and future interest from the defaulting borrowers and guarantors?
Whether the rate of future interest claimed should be reduced to a reasonable rate?
Whether the mortgaged property can be sold to recover the dues?
1 provisions across 1 enactments
Canara Bank
Ayush Enterprises
Nilesh Rajesh Shah
Shankar Mhasuji Tambe
Giresh Damodar Chapalgaonkar
Dr. J. R. Chauhan
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
