Allowed

Bank of Maharashtra v. Dnyaneshwar

DRT11 Aug 2026OA/221/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an ex-parte application filed by Bank of Maharashtra for recovery of Rs. 23,45,536/- along with future interest at 7% per annum. The court affirmed the mortgage charge over the respondents' properties and issued a recovery certificate.

What did the court decide?

Defendants shall pay Rs. 23,45,536/- plus future interest at 7% p.a.; mortgage properties secured; recovery certificate issued.

Bank of Maharashtra versus Dnyaneshwar — Contract and Commercial Disputes | DRT (2026)

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Presented on: 19.03.2022 Registered on: 18.07.2022 Decided on: 11.08.2026 Duration: Y M D 04 04 22

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IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 221/2022

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TOTAL CLAIM AMOUNT – Rs. 23,45,536/-

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Bank of Maharashtra, A Banking Company Incorporated under the Banking Companies (Acquisition and Transfer of Undertakings) Act V, of 1970, Having its head office at “Lokmangal” 1501, Shivajinagar, Pune -5 and branch office Amongst other places at Bidkin Branch, Tal. Paithan, Dist. Aurangabad. By its Branch Manager MR. RANJAN KUMAR

… Applicant

Versus

(OA No.221/2022)

Page 1 of 9

[AMBADAS]

1. MR. DNYANESHWAR EKNATH LAGHANE Age: 41 years, Occupation: Farmer, R/at: - Ranjangaon (Khuri), Tal. Paithan, Dist. Aurangabad 431105.

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2. MR. PARMESHWAR EKNATH LAGHANE

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Age: 36 years, Occupation: Farmer, R/at: - Ranjangaon (Khuri), Tal. Paithan, Dist. Aurangabad 431105.

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3. MR. EKNATH RAMBHAU LAGHANE

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Age: 74 years, Occupation: Farmer, R/at: - Ranjangaon (Khuri), Tal. Paithan, Dist. Aurangabad 431105.

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4. MR. VIKRAM GOPICHAND LAGHANE

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Age: 36 years, Occupation: Farmer, R/at: - Ranjangaon (Khuri), Tal. Paithan, Dist. Aurangabad 431105.

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5. MR. ASARAM JANARDHAN KADAM

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Age: 57 years, Occupation: Farmer, R/at: - Sompuri, Tal. Paithan, Dist. Aurangabad 431105.

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…Defendants

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APPEARANCES

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For the Applicant For Defendants

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Mr. Ashok G. Tamboli -Advocate Ex-parte

(OA No.221/2022)

Page 2 of 9

[AMBADAS]

JUDGMENT

Delivered on 11.08.2026

¶28

The Applicant Bank has filed the present application for the recovery of a sum of Rs. 23,45,536/- (Rupees Twenty Three Lacs, Forty Five Thousand, Five Hundred and Thirty Six only), along with further interest from the date of filing of the Original Application, i.e., 19.03.2022, 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 Defendant No. 1 to 3 approached the applicant bank seeking financial assistance. Upon scrutiny of the submitted documents, the applicant Bank Sanctioned Term loan of Rs. 12,00,000/- for the purpose of laying pipeline and purchase of electric motor vide sanction letter dated 09.03.2016. The agreed rate of interest for the aforesaid loan facility was

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@12.70% p.a. with monthly rests. The defendants also agreed to

(OA No.221/2022)

Page 3 of 9

[AMBADAS]

pay an additional interest by way of liquidated damages in case of

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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, term loan agreement, registered mortgage deed No. 1700/2016 dated 18.03.2016 etc., Additionally defendant No. 4 & 5 stood as guarantors for defendant No. 1 to 3 and executed deed of guarantee dated 18.03.2016 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 registered mortgage deed No. 1700/2016 dated 18.03.2016 in respect of

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following immovable properties:

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SCHEDULE OF MORTGAGED PROPERTY

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All those piece and parcel of land situate being and lying at village Ranjangaon (Khuri), in the registration District Aurangabad Sub Dist. & Tal. Paithan

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Mr. Dnyaneshwar Eknath Laghane owned land bearing Gat No. 75 admeasuring area 01 H 65 R and.

(OA No.221/2022)

Page 4 of 9

[AMBADAS]

Mr. Parmeshwar Eknath Laghane owned land bearing Gat No. 75 admeasuring area 01 H 21 R and.

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1. Mr. Eknath Rambhau Laghane owned land bearing Gat No. 75 admeasuring area 01 H 40 R total land admeasuring 4 H 26 R.

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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 to pay the same. The loan account of the defendant became irregular and classified as NPA on 31.10.2019. Therefore, on 04.12.2020 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.

(OA No.221/2022)

Page 5 of 9

[AMBADAS]

The defendants failed to appear in matter though they were served through RPAD. Hence, the defendants were proceeded as ex-parte as per Order dated 18.02.2025.

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The applicant Bank has filed Evidence Cum Claim Affidavit of evidence at Exhibit-4 of Mr. Ranjan Kumar, Branch Manager of the applicant Bank, and has produced on record the original loan transaction documents as Exh. A-1 to A-18 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 appear and did not 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.

(OA No.221/2022)

Page 6 of 9

[AMBADAS]

The applicant Bank has claimed charge over immovable properties of the borrowers which are mortgaged in favour of the applicant bank.

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The applicant Bank has claimed future interest @ 12.70% p.a. on the aforesaid loan facility from the date of filing i.e. 19.03.2022 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. 221/2022 is allowed with costs.

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(B) The defendants shall pay jointly and severally to the applicant Bank a sum of Rs. 23,45,536/- (Rupees Twenty Three Lacs, Forty Five Thousand, Five Hundred and Thirty Six only), along with future interest @ 7% per annum (simple) from the date of filing of the Original

(OA No.221/2022)

Page 7 of 9

[AMBADAS]

Application i.e. 19.03.2022 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 document at Exh. A-9 in list of documents at Exh. 5.

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SCHEDULE OF MORTGAGED PROPERTY

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All those piece and parcel of land situate being and lying at village Ranjangaon (Khuri), in the registration District Aurangabad Sub Dist. & Tal. Paithan.

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Mr. Dnyaneshwar Eknath Laghane owned land bearing Gat No. 75 admeasuring area 01 H 65 R and.

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Mr. Parmeshwar Eknath Laghane owned land bearing Gat No. 75 admeasuring area 01 H 21 R and.

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Mr. Eknath Rambhau Laghane owned land bearing Gat No. 75 admeasuring area 01 H 40 R total land admeasuring 4 H 26 R.

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

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(E) Issue Recovery Certificate accordingly.

(OA No.221/2022)

Page 8 of 9

[AMBADAS]

(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. Place: Aurangabad Date:.11.08.2026

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(Dr. J. R. Chauhan) Presiding Officer Debts Recovery Tribunal, Aurangabad

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(OA No.221/2022)

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Page 9 of 9

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[AMBADAS]

Bank of Maharashtra v. Dnyaneshwar

Case brief

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Bank of Maharashtra v. Dnyaneshwar

Case brief

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