Allowed

Idbi Bank v. Kishor Tatyasaheb Jojare

DRT12 Aug 2026OA/254/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an application filed by IDBI Bank Limited for recovery of dues amounting to Rs. 23,93,843/- representing LAP and GECL loans. The bank claimed the accounts had become NPAs and that legal notice remained unheeded. The Tribunal passed the order ex parte as the borrowers failed to appear.

What did the court decide?

Injunction passed to enforce security over mortgaged residential property and issue of Recovery Certificate. Defendants directed to pay principal sum with future interest at 9% p.a. simple from filing

Idbi Bank versus Kishor Tatyasaheb Jojare — Contract and Commercial Disputes | DRT (2026)

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Presented on: 30.06.2023 Registered on: 05.04.2024 Decided on: 12.08.2026 Duration: Y M D 03 01 12

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IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Shri Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 254/2024

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TOTAL CLAIM AMOUNT – Rs. 23,93,843/-

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IDBI BANK LIMITED.,

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A company incorporated under the Companies Act, 1956 and a company within the meaning of Section 2 (20) of the Companies Act, 2013 (18 of 2013) and a banking company duly registered, within the meaning of Banking Regulation Act, 1949, and having its registered office at IDBI Tower, World Trade Centre Complex, Cuffe Parade, Mumbai- 400005 and through one of its Branch at Paithan, Trimbakdas Patel Nagar, CTS NO. 2440/203, Near Bhavani Nagar, new Aurangabad Road, Paithan431107, Dist. Aurangabad, Maharashtra its Authorized Signatory (AGM) Recovery Mr. Sumit S/o. Vijaykumar Rodge, Age: 40 years, Occu: Service,

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… Applicant

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Email: [email protected].

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Mob. No: 8668807655, R/o: at present Aurangabad.

(OA No.254-2024)

Page 1 of 08

[Ambadas]

Versus

Mr. Kishor S/o. Tatyasaheb Jojare, R/o: House No. 3515, Annapurna Nagar, At Post: Tq. Paithan, Dist. Aurangabad- 431107. And also at; Plot No. 152/P, H No. 3515, CTS No. 2441, Annapurna Nagar, Paithan, Dist. Aurangabad- 431107. Mob. No: 9822222717. Pan No: AOJPJ6002N. 2. Mr. Tatya Kisan jojare, R/o: House No. 3515, Annapurna Nagar, At Post: Tq. Paithan, Dist. Aurangabad-. And also at; Plot No. 152/P, H No. 3515, CTS No. 2441, Annapurna Nagar, Paithan, Dist. Aurangabad- 431107. Mob. No: 9822430274. Pan No: AIKPJ7357H.

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… Defendants

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APPEARANCES For the Applicant For Defendants

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Mr. Pathak Anirudha S- Advocate Ex-parte

(OA No.254-2024)

Page 2 of 08

[Ambadas]

J U D G M E N T Delivered on (12.08.2026)

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The Applicant Bank has filed the present application for recovery of the sum of Rs. 23,93,843/- (Rs. Twenty-Three Lakh, Ninety-Three Thousand, Eight Hundred and Forty-Three Only) together with future interest @9.90% p.a. with monthly rests upon LAP loan (Home Loan), GECL Loan account, FITL and LNXP accounts from 09.06.2023 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 LAP Loan and GECL Loan Facilities. Upon considering the Defendant’s representation, request, and financial needs, the Applicant Bank sanctioned the LAP Loan facility of Rs. 16,50,000/- vide sanction letter dated 24.05.2018 and GECL Loan Credit facility of Rs. 3,17,000/- vide sanction letter dated 23.10.2020 on certain terms & conditions.

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The agreed rate of interest for the LAP Loan Facility was MCLR

(OA No.254-2024)

Page 3 of 08

[Ambadas]

@8.65% p.a. with monthly rests and for the GECL Loan facility was @8.15% p.a. with monthly rests.

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In order to secure the aforesaid LAP & GECL Loan facilities, the Defendants executed loan documents in favour of the Applicant Bank namely sanction letter, demand promissory note, request letter, hypothecation agreement, letter of undertaking, equitable mortgage etc.

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The Applicant Bank contended that, in order to secure the LAP Loan facility, Defendant Nos. 1 and 2 are the principal borrowers, of the said loan facility. The Defendants executed Equitable Mortgage dated 01.06.2018 in respect of the following property in favour of the Applicant Bank:-

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All that piece and parcel of immovable property of residential house Plot No. 152/P, Admeasuring area 52.25 Sq. Mtrs., House No. 3515, CTS No. 2441, situated at Annapurna Nagar, Paithan, and Dist. Aurangabad, Maharashtra 431107.

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East : Plot No. 153, West : Plot No. 152/P, North : Plot No. 166, South : Road.

(OA No.254-2024)

Page 4 of 08

[Ambadas]

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 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, 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 through court commissioner, the defendants neither appeared nor filed WS. Hence, they proceeded ex-parte vide Order dated 29.01.2026.

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The Applicant Bank has filed Claim Affidavit of evidence at

(OA No.254-2024)

Page 5 of 08

[Ambadas]

Exhibit-4 of Mr. Sumit S/o Vijaykumar Rodge, AGM of the Applicant Bank and has produced on record the original loan transaction documents as Annex. A-1 to A-21 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.

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The Applicant Bank has claimed future interest at @9.90% per annum with monthly rests from 09.06.2023 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.

(OA No.254-2024)

Page 6 of 08

[Ambadas]

Hence, I pass the following order.

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ORDER

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(A) Original Application No. 254/2024 is allowed with costs.

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(B) The Defendants shall pay jointly and severally to the Applicant Bank a sum of Rs. 23,93,843/- (Rs. TwentyThree Lakh, Ninety-Three Thousand, Eight Hundred and Forty-Three Only), along-with future interest at @9% per annum (simple) from the date of filing of the Original Application, i.e., 30.06.2023, till full payment/ realization of the said amount.

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

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All that piece and parcel of immovable property of residential house Plot No. 152/P, Admeasuring area 52.25 Sq. Mtrs., House No. 3515, CTS No. 2441, situated

(OA No.254-2024)

Page 7 of 08

[Ambadas]

at Annapurna Nagar, Paithan, and Dist. Aurangabad, Maharashtra 431107.

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East : Plot No. 153, West : Plot No. 152/P, North : Plot No. 166, South : Road.

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(D) The Applicant Bank is entitled to sell the mortgaged immovable property 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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Place : Aurangabad Date : 12.08.2026

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Sd/-

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

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(OA No.254-2024)

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Page 8 of 08

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[Ambadas]

Idbi Bank v. Kishor Tatyasaheb Jojare

Case brief

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Idbi Bank v. Kishor Tatyasaheb Jojare

Case brief

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