The Tribunal allowed an Original Application filed by a bank for recovery of outstanding dues from agricultural loans and cash credit against a debtor who appeared ex parte, granting a recovery certificate.
Defendant ordered to pay principal amounts/KCC/Term loans/Cash Credit with future interest and issue Recovery Certificate.
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.
Page 1 of 5 O.A. No. 219/2024
PRESENTED ON : 15.05.2024 REGISTERED ON : 06.07.2024
Exh. No. 9
BEFORE THE PO, DEBTS RECOVERY TRIBUNAL, NAGPUR
Delivered by Pankaj Kumar
O.A. No. 219/2024
Punjab National Bank
: Applicant
A body corporate constituted under Banking companies (Acquisition and Transfer of Undertakings) Act, 1970 Circle Sastra Center, PNB House Kingsway, Nagpur – 440001
Phone No. 0712-6603753
Email – [email protected] IFSC Code : PUNBO679500
Acting through its one of the Principal Officer Chief Manager i.e. Shri Radhakanta Bheemsen Pradhan having authority to file the Original Application which includes the authority to verify & sign the Original Application.
Versus
Smt. Varsha W/o Kailash Avare
: Defendant
Aged about : 42 Years, Occupation : Agriculturist R/o. At Surwada Post Chamak Achalpur Camp – Amravati
Maharashtra 444806
PAN – BUPPA7591G
| Learned Counsel for Applicant | Adv. Anita Bhojwani |
|---|---|
| Defendant Set Exparte On | 08.08.2025 |
Page 2 of 5 O.A. No. 219/2024
JUDGMENT
(Delivered on 9th Day of March, 2026)
A. An amount of Rs. 1,50,581/- outstanding in KCC Loan Account No. 0501008900000171 with costs and future interest @9.90% p.a. with monthly rests from the date of filing of O.A. till the date of realization.
B. An amount of Rs. 18,45,663/- outstanding in Term Loan Account No. 050100AR00000056 with costs and future interest @10.05% p.a. with monthly rests from the date of filing of O.A. till the date of realization.
C. An amount of Rs. 69,963/- outstanding in Term Loan Account No. 050100AZ00000016 with costs and future interest @10.05% p.a. with monthly rests from the date of filing of O.A. till the date of realization.
D. An amount of Rs. 10,99,689.38/- outstanding in Cash Credit Loan Account No. 0501008800015624 with costs and future interest @11.50% p.a. with monthly rests from the date of filing of O.A. till the date of realization.
Page 3 of 5 O.A. No. 219/2024
Hence, it is ordered as under:-
ORDER
A] O.A. No. 219/2024 is allowed to the extent as under with costs.
B] Defendant to pay to the applicant bank an amount of Rs. 1,50,581/- (Rupees One Lakh Fifty Thousand Five Hundred Eighty One Only) outstanding in KCC Loan Account No. 0501008900000171 with
Page 4 of 5 O.A. No. 219/2024
simple future interest @9% p.a. from the date of filing of O.A. till its realization.
C] Defendant to pay to the applicant bank an amount of Rs. 18,45,663/- (Rupees Eighteen Lakh Forty Five Thousand Six Hundred Sixty Three Only) outstanding in Term Loan Account No. 050100AR00000056 with simple future interest @9% p.a. from the date of filing of O.A. till its realization.
D] Defendant to pay to the applicant bank an amount of Rs. 69,963/(Rupees Sixty Nine Thousand Nine Hundred Sixty Three Only) outstanding in Term Loan Account No. 050100AZ00000016 with simple future interest @9% p.a. from the date of filing of O.A. till its realization.
E] Defendant to pay to the applicant bank an amount of Rs. 10,99,689.38/- (Rupees Ten Lakh Ninety Nine Thousand Six Hundred Eighty Nine and Paise Thirty Eight Only) outstanding in Cash Credit Loan Account No. 0501008800015624 with simple future interest @9% p.a. from the date of filing of O.A. till its realization.
F] It is declared that outstanding dues are secured by mortgaged immovable property of defendant as described in Schedule-A annexed to O.A. and as referred in Exh. AW-1/5 & AW-1/10.
G] It is also declared that charge of outstanding dues is kept on hypothecated property of defendant as described in Schedule-B
Page 5 of 5 O.A. No. 219/2024
annexed to O.A. and as referred in Exh. AW-1/2, AW-1/4, AW-1/6 &
AW-1/9.
I] The Registrar is directed to send the copy of Judgment and Recovery Certificate to the parties to this O.A at once.
Nagpur (Pankaj Kumar) Presiding Officer Date: 09.03.2026 Debts Recovery Tribunal Nagpur
Punjab National Bank
Pankaj Kumar
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
