Allowed

Idbi Bank v. Rajendra Eknath Navale

DRT3 Feb 2026OA/250/2024

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed IDBI Bank's application for recovery of approximately Rs. 1.07 crore. The bank had advanced a term loan to the defendants for agricultural machinery. Defendants defaulted on repayment, leading to the lawsuit in absentia.

What did the court decide?

Directed defendants to pay Rs. 1,07,79,506/- plus 9% simple interest from 16.09.2023. Granted the bank's claim to sell mortgaged properties to recover dues and issued a Recovery Certificate.

Idbi Bank versus Rajendra Eknath Navale — Contract and Commercial Disputes | DRT (2026)

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Presented on: 16.09.2023 Registered on: 04.04.2024 Decided on: 03.02.2026 Duration: Y M D 02 04 18

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IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD

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(Before Shri Dr. J. R. Chauhan Presiding Officer)

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ORIGINAL APPLICATION No.250/2024

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TOTAL CLAIM AMOUNT – Rs. 1,07,79,506/-

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IDBI BANK LIMITED.,

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A company incorporated under the

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Companies Act, 1956 and a company within

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the meaning of Section 2 (20) of the Companies Act, 2013 (18 of 2013) and a banking company duly registered, within the … Applicant meaning of Banking Regulation Act, 1949, and having its registered office at IDBI Tower,

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World Trade Centre Complex, Cuffe Parade,

(OA No.250-2024)

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[Ambadas]

Mumbai- 400005 and through one of its Branch at Savedi, Plot No. 06, Survey No., Daund- Jamkhed Road, Shrigonda- 433701 Maharashtra, through its Authorized OfficerShri. Vijaykumar S/o. Tukaram Nichit. Email: [email protected]. Mob. No: 9096338787.

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Versus

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Mr. Rajendra Eknath Navale, … Defendant/s Age: Major, Occ: Agri, R/o: 214-3, Gavthan, Navale Medical Store, At Maka, Tq. Nevasa,Dist. Ahmednagar- 414502. PAN No.:- AILPN 7167N. Mob. No. :- 9420038974/9822932890.

And also;

(OA No.250-2024)

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[Ambadas]

Survey No. 418/2, Village Maka, Tq. Newasa

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& Dist. Ahmednagar-

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And also; Grampanchayat Milkat No. 514, Village Maka,

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Tq. Newasa & Dist. Ahmednagar-

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And also; Gut No. 60, 62, 63,

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At Mahalaxmi Hivare, Tq. Nevasa,

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Dist. Ahmednagar.

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Mr. Eknath Salveram Navle,

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Age: Major, Occ: Agri,

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R/o: Chavarsangvi, Tq. Shrigonda,

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Dist. Ahmednagar.

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And also;

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Gut No. 101/1, At Gunjale, Tq. Rahuri,

Dist. Ahmednagar-

(OA No.250-2024)

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[Ambadas]

And also; Gut No. 114, At Gunjale, Tq. Rahuri,

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Dist. AhmednagarAnd also; Gut No. 253, At Gunjale, Tq. Rahuri,

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Dist. AhmednagarAnd also; Gut No. 519, At Gunjale, Tq. Rahuri,

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Dist. Ahmednagar-

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Mrs. Sundarabai Eknath Navle,

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Age: Major, Occ: Household,

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R/o: Survey No. 418/2, Village Maka,

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Tq. Newasa & Dist. Ahmednagar.

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Mrs. Sandhya Rajendra Navale,

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Age: Major, Occ: Agri,

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R/o: Chavarsangvi, Tq. Shrigonda,

(OA No.250-2024)

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[Ambadas]

Tq. Ahmednagar, Ahmednagar-

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Mr. Arjun Bhagwan Ghule,

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Age: Major, Occ: Agri,

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R/o: Chavarsangvi, Tq. Shrigonda,

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Tq. Ahmednagar, Ahmednagar-

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Mr. Bapu Shahadev Waghmode,

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Age: Major, Occ: Agri,

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R/o: Chavarsangvi, Tq. Shrigonda,

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Tq. Ahmednagar, Ahmednagar-

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APPEARANCES For the Applicant Mr. Pathak Anirudha S- Advocate For Defendants Ex-parte

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J U D G M E N T

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Delivered on (03.02.2026)

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The Applicant Bank has filed the present application for recovery of the sum of Rs. 1,07,79,506/- (Rs. One Crore, Seven

(OA No.250-2024)

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[Ambadas]

Lakh, Seventy-Nine Thousand, Five Hundred and Six Only) together with interest upon Term loan and LNXP account facilities from 03.07.2023 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 Term Loan Facility. Upon considering the Defendant’s representation, request, and financial needs, the Applicant Bank sanctioned the Term Loan facility of Rs. 90,00,000/- for the purpose of purchase of sugarcane harvester along with tractor & infielder etc., vide sanction letter dated 21.12.2016 on certain terms & conditions.

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The agreed rate of interest for the Term Loan Facility was @10.55% per annum with monthly rests.

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In order to secure the aforesaid Term Loan facility, the Defendants executed loan documents in favour of the Applicant Bank namely sanction letter, demand promissory note, request

(OA No.250-2024)

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[Ambadas]

letter, hypothecation agreement, letter of undertaking, equitable mortgage etc.

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The Applicant Bank contended that, in order to secure the Term Loan facility, Defendant No. 1 is the principal borrower, Defendant Nos. 1 to 4 are the mortgagors of the said loan facility, and the Defendant Nos. 2 to 6 are the guarantors of the said loan facility. The Defendants executed Registered Mortgage deed bearing Day Book No. NWS-4832/2016 dated 29.12.2016 in respect of the following properties in favour of the Applicant Bank:-

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A) All the piece and parcels of immovable property, i.e.

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Survey No. 418/2, Area Adm. 0.52 R situated at Maka, Tq. Nevasa & Dist. Ahmednagar and also situated within the Registration district Ahmednagar. Standing in the name of Defendant No. 1, (Shri. Rajendra Eknath Navale):-

(OA No.250-2024)

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[Ambadas]

B) All the piece and parcels of immovable property, i.e.

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Grampanchayat Milkat No.514, 1000 Sq. ft i.e. 92.90 sqmtr out of Gat No.418/2. situated at Maka, Tq. Nevasa & Dist. Ahmednagar and also situated within the registration district Ahmednagar. Standing in the name of Defendant

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No. 1, (Shri. Rajendra Eknath Navale):-

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C) All that piece and parcels of immovable property i.e.

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Survey No. 60, Area Adm. Area 0.44 R, situated at Mahalaxmi

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Hivre, Tq. Newasa & Dist. Ahmednagar and also situated within the registration district Ahmednagar. Standing in the name of Defendant No. 1, (Shri. Rajendra Eknath Navale):-

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D) All that piece and parcels of immovable property, i.e.

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Survey No. 62, Area Adm. area 0.26 R, situated at Mahalaxmi

(OA No.250-2024)

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[Ambadas]

Hivre, Tq. Newasa & Dist. Ahmednagar and also situated

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within the registration district Ahmednagar. Standing in the name of Defendant No. 1, (Shri. Rajendra Eknath Navale):-

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E) All that piece and Parcels of immovable property, i.e.

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Survey No. 63, Area Adm. Area 0.44 R, situated at Mahalaxmi

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Hivre, Tq. Newasa & Dist. Ahmednagar and also situated within the registration district Ahmednagar. Standing in the name of Defendant No. 1, (Shri. Rajendra Eknath Navale):-

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F) All that piece and parcels of immovable property, i.e.

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Survey No. 101/1, Area Adm. Area 1.00 R situated at Gunjale, Tq. Rahuri & Dist. Ahmednagar and also situated within the Registration district Ahmednagar. Standing in the name of Defendant No. 2, (Shri. Eknath Savleram Navale)

(OA No.250-2024)

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[Ambadas]

G) All that piece and parcels of immovable property, i.e.

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Survey No. 114, Area Adm. Area 1.34 +PK. 0.07 R situated at Gunjale, Tq. Rahuri & Dist. Ahmednagar and also situated

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within the Registration district Ahmednagar. Standing in the

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name of Defendant No. 2, (Shri. Eknath Savleram Navale)

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H) All that piece and parcels of immovable property, i.e.

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Survey No. 253, Area Adm. Area 0.58 R situated at Gunjale,

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Tq. Rahuri & Dist. Ahmednagar and also situated within the

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Registration district Ahmednagar. Standing in the name of

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Defendant No. 2, (Shri. Eknath Savleram Navale)

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I) All that piece and parcels of immovable property, i.e.

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Survey No. 418/2, Area Adm. Area 1.93 R situated at

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Gunjale, Tq. Newasa & Dist. Ahmednagar and also situated

(OA No.250-2024)

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[Ambadas]

within the Registration district Ahmednagar. Standing in the

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name of Defendant No. 3, ( Smt. Sundarabai Eknath Navale)

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J) All that piece and parcels of immovable property, i.e.

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Grampanchayat Milkat No. 437, Area Adm. Area 42.7 sqmtr

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situated at Maka, Tq. Newasa & Dist. Ahmednagar and also

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situated within the Registration district Ahmednagar.

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Standing in the name of Defendant No. 2, (Eknath Savleram

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Navale)

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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 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

(OA No.250-2024)

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[Ambadas]

with the agreed rate of interest thereon, but the Defendants failed and neglected to pay the same. The loan account of the Defendants became irregular and classified as NPA. Therefore on 16.07.2023, the Applicant Bank issued legal notice to the Defendants through their Officer. 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 through court commissioner, the defendants neither appeared nor filed WS. Hence, the Defendants proceeded ex-parte vide Order dated 28.03.2025.

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The Applicant Bank has filed Claim Affidavit of evidence at Exhibit-4 of Mr. Vijaykumar S/o Tukaram Nichit, AGM of the Applicant Bank and has produced on record the original loan transaction documents as Annex. A-1 to A-22 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.

(OA No.250-2024)

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[Ambadas]

Since the Defendants failed to appear and 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 @10.55% per annum with monthly rests from 03.07.2023 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 @9% per annum (simple), 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. 250/2024 is allowed with costs.

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(B) The Defendants shall pay jointly and severally to the Applicant Bank a sum of Rs. 1,07,79,506/- (Rs. One Crore, Seven Lakh, Seventy-Nine Thousand, Five

(OA No.250-2024)

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[Ambadas]

Hundred and Six Only), along-with future interest at @9% per annum (simple) from the date of filing of the Original Application, i.e., 16.09.2023, till full payment/ realization of the said amount.

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(C) The aforesaid adjudicated amount is secured by mortgage of immovable properties in favour of the Applicant Bank vide documents Annex- A-7 in list of documents Exh.5. The properties are described as follows:-

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A) All the piece and parcels of immovable property,

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i.e. Survey No. 418/2, Area Adm. 0.52 R situated at

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Maka, Tq. Nevasa & Dist. Ahmednagar and also situated within the Registration district Ahmednagar. Standing in the name of Defendant

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No. 1, (Shri. Rajendra Eknath Navale):-

(OA No.250-2024)

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[Ambadas]

B) All the piece and parcels of immovable property, i.e.

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Grampanchayat Milkat No.514, 1000 Sq. ft i.e. 92.90

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Sqmtr out of Gat No.418/2. situated at Maka, Tq.

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Nevasa & Dist. Ahmednagar and also situated within the registration district Ahmednagar. Standing in the name of Defendant No. 1,

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(Shri. Rajendra Eknath Navale):C) All that piece and parcels of immovable property i.e.

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Survey No. 60, Area Adm. Area 0.44 R, situated at

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Mahalaxmi Hivre, Tq. Newasa & Dist. Ahmednagar and also situated within the registration district Ahmednagar. Standing in the name of Defendant

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No. 1, (Shri. Rajendra Eknath Navale):-

(OA No.250-2024)

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[Ambadas]

D) All that piece and parcels of immovable property, i.e.

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Survey No. 62, Area Adm. area 0.26 R, situated at Mahalaxmi Hivre, Tq. Newasa & Dist. Ahmednagar and also situated within the registration district Ahmednagar. Standing in the name of Defendant No. 1, (Shri. Rajendra Eknath Navale):-

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E) All that piece and Parcels of immovable property, i.e.

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Survey No. 63, Area Adm. Area 0.44 R, situated at Mahalaxmi Hivre, Tq. Newasa & Dist. Ahmednagar and also situated within the registration district Ahmednagar. Standing in the name of Defendant No. 1, (Shri. Rajendra Eknath Navale):-

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F) All that piece and parcels of immovable property, i.e.

(OA No.250-2024)

Page 16 of 19

[Ambadas]

Survey No. 101/1, Area Adm. Area 1.00 R situated at

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Gunjale, Tq. Rahuri & Dist. Ahmednagar and also situated within the Registration district Ahmednagar. Standing in the name of Defendant No. 2, (Shri. Eknath Savleram Navale) G) All that piece and parcels of immovable property, i.e.

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Survey No. 114, Area Adm. Area 1.34 +PK. 0.07 R situated at Gunjale, Tq. Rahuri & Dist. Ahmednagar and also situated within the Registration district Ahmednagar. Standing in the name of Defendant No. 2, (Shri. Eknath Savleram Navale) H) All that piece and parcels of immovable property, i.e.

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Survey No. 253, Area Adm. Area 0.58 R situated at

(OA No.250-2024)

Page 17 of 19

[Ambadas]

Gunjale, Tq. Rahuri & Dist. Ahmednagar and also

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situated within the Registration district Ahmednagar. Standing in the name of Defendant No. 2,

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(Shri. Eknath Savleram Navale)

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I) All that piece and parcels of immovable property, i.e. Survey No. 418/2, Area Adm. Area 1.93 R situated at

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Gunjale, Tq. Newasa & Dist. Ahmednagar and also Situated within the Registration district

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Ahmednagar. Standing in the name of Defendant

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No. 3, ( Smt. Sundarabai Eknath Navale)

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J) All that piece and parcels of immovable property, i.e. Grampanchayat Milkat No. 437, Area Adm. Area 42.7

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Sqmtr situated at Maka, Tq. Newasa & Dist.

(OA No.250-2024)

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[Ambadas]

Ahmednagar and also situated within the Registration

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district Ahmednagar. Standing in the name of

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Defendant No. 2, (Eknath Savleram Navale)

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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.

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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 : 03.02.2026 Debts Recovery Tribunal, Aurangabad

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(OA No.250-2024)

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[Ambadas]

Idbi Bank v. Rajendra Eknath Navale

Case brief

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What did the court decide?

Idbi Bank v. Rajendra Eknath Navale

Case brief

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