Allowed

Axis Bank v. Sandip Appasaheb Dudhale

DRT12 Jun 2026OA/195/2025

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an original application filed by Axis Bank Ltd. for recovery of dues and future interest from two defendants who failed to repay a vehicle loan, granting a recovery certificate and entitlement to sell hypothecated assets.

What did the court decide?

Recovery of Rs. 37,73,753/- plus future interest at 8% p.a. simple; Recovery Certificate issued; entitlement to sell hypothecated asset granted.

Axis Bank versus Sandip Appasaheb Dudhale — Execution and Attachment | DRT (2026)

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Presented on: 27.02.2025 Registered on: 29.03.2025 Decided on: 12.06.2026 Duration: Y M D 01 03 16

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IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Shri Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 195/2025

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TOTAL CLAIM AMOUNT – Rs. 37,73,753/-

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AXIS BANK LTD.,

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A Body Corporate, constituted and established under the Companies Act 1956 and having its Registered Office at “Trishul” 3^rd Floor, Opp. Samartheshwar Temple, Law Garden, Ellis Bridge, Ahmedabad, Having its Branch Office at situated at “Shrivastava”, 65, Sarang Housing Society, Near Gajanan Maharaj Mandir, Garkheda, Aurangabad431005, Through its Authorised Representative, Shri. Pramod Manohar Landge, Age: 35 Years, Occu: Service, Having his address for communication at C/o. Axis Bank Ltd., “Shrivastava”, 65, Sarang Housing Society, Near Gajanan Maharaj Mandir, Garkhda, Aurangabad- 431005.

… Applicant

(OA No. 195-2025)

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[Ambadas]

Versus

Sandip Appasaheb Dudhade, … Defendants

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Age: 26 Years, Occ. : Business,

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R/o: Gurukrupa Colony, Adarsh Nagar,

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Ghar No. 19, Nagapur,

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Ahmadnagar- 414002.

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Sachin Appasaheb Dudhade,

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Age: 28 Years, Occ. : Agriculturist,

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R/o: Gurukrupa Colony, Adarsh Nagar,

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Ghar No. 19, Nagapur,

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Ahmadnagar- 414002.

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APPEARANCES

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For the Applicant Mr. Dabholkar M. M. - Advocate For Defendants Ex-parte

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J U D G M E N T

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Delivered on (12.06.2026)

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The Applicant Bank has filed the present application for

(OA No. 195-2025)

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[Ambadas]

recovery of the sum of Rs. 37,73,753/- (Rs. Thirty-Seven Lakhs, Seventy-Three Thousand, Seven Hundred and Fifty-Three Only) together with future interest thereon with monthly rests on Credit Loan facility from 27.02.2025 till the full realization of the entire dues and costs from the Defendants.

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Brief facts of the application are as under:

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That the Defendants approached the Applicant Bank and requested for the sanction of a Vehicle Loan Facility. Upon considering the Defendant’s representation, request and financial needs, the Applicant Bank sanctioned Vehicle Loan of Rs. 37,53,428/- for Purchase of Volkswagen TIGUN 2.0 ELEGANCE vide sanction letter dated 15.03.2024 on certain terms & conditions.

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The agreed rate of interest for the Vehicle Loan was @9.60% p.a. with monthly rests.

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In order to secure the aforesaid Credit Loan facility, the Defendants executed loan documents in favour of the Applicant

(OA No. 195-2025)

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[Ambadas]

Bank namely sanction letter, demand promissory note, request letter, hypothecation agreement, letter of undertaking etc.

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The Applicant Bank contended that, in order to secure the Credit Loan facility, the Defendants have executed Loan Cum Hypothecation Agreement dated 15.03.2024 of the following property/ hypothecation in favour of the Applicant Bank:

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Description of Hypothecated Asset:-

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Vehicle Volkswagen TIGUN 2.0 ELEGANCE.

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The Applicant Bank further contended that the Defendants failed to keep their promises and commitments agreed by them with regard to the 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

(OA No. 195-2025)

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[Ambadas]

Defendants became irregular and classified as NPA on 03.11.2024. Therefore, on 29.12.2024, the Applicant Bank issued legal notice to the Defendants through their Advocate. Despite service of Notice, the Defendants failed and neglected to repay the outstanding dues of the Applicant Bank. Hence, this application is filed.

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Despite service, the Defendants neither appeared nor filed their Written Statement. Hence, they proceeded ex-parte vide Order dated 16.09.2025.

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The Applicant Bank has filed Claim Affidavit of evidence at Exhibit-4 of Shri. Pramod Manohar Landge, Officer of the Applicant Bank and has produced on record the original loan transaction documents as per Exh. A- 01 to A-09 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 file written statement and did not

(OA No. 195-2025)

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[Ambadas]

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 future interest at @9.60% p.a. with monthly rests on loan from 27.02.2025 till the full realization of the entire dues and costs from the Defendants. However, considering the facts of the case, I am of the opinion that awarding future interest at @8% per annum (simple) on outstanding amount, it would be just and reasonable.

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Hence, I pass the following order.

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ORDER

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(A) Original Application No. 195/2025 is allowed with costs.

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(B) The Defendants shall pay jointly and severally to the Applicant Bank a sum of Rs. 37,73,753/- (Rs. ThirtySeven Lakhs, Seventy-Three Thousand, Seven Hundred and Fifty-Three Only), along-with future interest at @8% per annum (simple) from the date of filing of the Original Application, i.e., 27.02.2025, till full payment/ realization of the said amount.

(OA No. 195-2025)

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[Ambadas]

(C) The aforesaid adjudicated amount is secured by an Hypothecation Agreement in favour of the Applicant Bank vide document Exh. A-02 and A-3 in list of Documents Exh.5. The description of the hypothecated asset is as follows:-

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Vehicle Volkswagen TIGUN 2.0 ELEGANCE.

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(D) The Applicant Bank is entitled to sell the hypothecated Assets 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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(Dr. J. R. Chauhan) Place : Aurangabad Presiding Officer Date : 12.06.2026 Debts Recovery Tribunal, Aurangabad

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(OA No. 195-2025)

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Page 7 of 7

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[Ambadas]

Axis Bank v. Sandip Appasaheb Dudhale

Case brief

What is this about?

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Axis Bank v. Sandip Appasaheb Dudhale

Case brief

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