Allowed

Bank of Maharashtra v. Ashok Rohidas Kotkar

DRT14 Jul 2026OA/208/2025

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed an original application filed by Bank of Maharashtra for recovery of outstanding dues of Rs. 27.13 lakhs from the defaulted borrower, granting the claim principal with future interest and directing realization via sale of mortgaged property.

What did the court decide?

Defendants to pay Rs. 27.13 lakhs with future interest at 9% p.a.; Recovery Certificate issued; Right to sell mortgaged property directed.

Bank of Maharashtra versus Ashok Rohidas Kotkar — Contract and Commercial Disputes | DRT (2026)

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Presented on: 13.03.2025 Registered on: 05.04.2025 Decided on: 14.07.2026 Duration: Y M D 01 04 01

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IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 208/2025

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TOTAL CLAIM AMOUNT – Rs. 27,13,191.02/-

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Bank of Maharashtra, (A Government of India Undertaking) having its Central Office at Lokmangal, Shivaji Nagar, Pune, and amongst other branches a

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branch at Nepti, Tq. Ahmednagar, Dist. Ahmednagar, Through its Authorized Officer, Shri. Moreshwar Laxman Avhad, Age: 39 years, Occ.: Service as Branch

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Manager, R/o.: Savedi, Tq. and Dist. Ahmednagar.

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… Applicant

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Versus

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1. Ashok Rohidas Kotkar

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Age: 35 years, Occupation: Business, Plot No. 55, Sy. No. 494/1, Vishwanraje Nagar, Nepti Road, Kedgaon, Ahmednagar.

(OA No.208/2025)

Page 1 of 7

[AMBADAS]

2. Ashok Rohidas Kotkar

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Age: 35 years, Occupation: Business, Plot No. 55, Sy. No. 494/1, Vishwanraje Nagar, Nepti Road, Kedgaon, Ahmednagar.

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…Defendants

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APPEARANCES

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For the Applicant Mr. Sharad V. Natu -Advocate For Defendants Ex-parte

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JUDGMENT

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Delivered on 14.07.2026

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The Applicant Bank has filed the present application for the recovery of a sum of Rs. 27,13,191.02/- (Rupees Twenty Seven Lacs, Thirteen Thousand, One Hundred Ninety One and Two Paisa only), along with further interest from the date of filing of the Original Application, i.e., 13.03.2025, until the date of realization

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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 Defendant No. 1 & 2 approached the applicant bank seeking financial assistance. Upon scrutiny of the submitted documents, the applicant bank sanctioned Term

(OA No.208/2025)

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[AMBADAS]

loan facility of Rs. 20,00,000/- for construction of home vide sanction letter dated 08.09.2016. The agreed rate of interest for the aforesaid loan facility was @9.65% p.a. with monthly rests. The defendants also agreed to pay an additional interest by way of liquidated damages in case of default in repayment.

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In order to secure the aforesaid loan facility, the Defendants executed various loan documents in favour of the Applicant Bank. These included sanction letter, demand promissory note, housing loan agreement, equitable mortgage deed dated 07.12.2016 etc., 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 equitable mortgage deed dated 07.12.2016 in respect of following property:

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All that piece and parcel of property admeasuring 90 Sq. Meters, situated at Khedgaon, Tq. and Dist. Ahmednagar in Sy. No. 494/1, Plot No. 55, which is bounded as under: East: 9.00 M wide road, West: Plot No. 22, South: Plot No. 54, North: Part of Plot No. 55.

(OA No.208/2025)

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[AMBADAS]

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 to pay the same. The loan account of the defendant became irregular and classified as NPA on 28.09.2023. Therefore, on 12.10.2023 the applicant bank issued legal Notice to the defendants. 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 paper publication. Hence, the defendants were proceeded ex-parte as per Order dated 22.05.2026.

(OA No.208/2025)

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[AMBADAS]

The applicant Bank has filed Claim Affidavit of evidence at Exhibit-4 of Shri. Moreshwar Laxman Avhad, Manager 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.

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Since the defendants failed to 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 @9.65%p.a. on the aforesaid loan facility from the date of filing i.e. 13.03.2025 of this

(OA No.208/2025)

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[AMBADAS]

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 @ 9% 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. 208/2025 is allowed with costs.

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(B) The defendants shall pay jointly and severally to the applicant Bank a sum of Rs. 27,13,191.02/- (Rupees Twenty Seven Lacs, Thirteen Thousand, One Hundred Ninety One and Two Paisa only), along with future interest @ 9% per annum (simple) from the date of filing of the Original Application i.e. 13.03.2025 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 Annexure A-8 to A-10 in the list of documents Exh. 5.

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All that piece and parcel of property admeasuring 90 Sq. Meters, situated at Khedgaon, Tq. and Dist. Ahmednagar in Sy. No. 494/1, Plot No. 55, which is bounded as under: East: 9.00 M wide road,

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West: Plot No. 22, South: Plot No. 54, North: Part of Plot No. 55.

(OA No.208/2025)

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[AMBADAS]

(D) The applicant Bank is entitled to sell the mortgaged immovable property 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/Pronounced in open court. (Dr. J. R. Chauhan) Place: Aurangabad Presiding Officer Date:.14.07.2026 Debts Recovery Tribunal, Aurangabad

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(OA No.208/2025)

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Page 7 of 7

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[AMBADAS]

Bank of Maharashtra v. Ashok Rohidas Kotkar

Case brief

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Bank of Maharashtra v. Ashok Rohidas Kotkar

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