Allowed

Bank of Maharashtra v. Ramrao Laxman Jadhav

DRT20 Aug 2026OA/259/2025

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an application filed by Bank of Maharashtra for recovery of a loan of Rs. 71,51,746/- along with future interest. The tribunal proceeded ex-parte against absent defendants. Future interest was reduced from 14% to 12% per annum (simple).

What did the court decide?

Payment of Rs. 71,51,746/- along with future interest @ 12% p.a. (simple) from 06.03.2025; issuance of Recovery Certificate; direction to sell hypothecated assets.

Bank of Maharashtra versus Ramrao Laxman Jadhav — Banking and Recovery | DRT (2026)

¶1

Presented on: 06.03.2025 Registered on: 21.04.2025 Decided on: 20.08.2026 Duration: Y M D 01 05 14

¶2

IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 259/2025

¶3

TOTAL CLAIM AMOUNT – Rs. 71,51,746/-

¶4

Bank of Maharashtra ,

¶5

A Body Corporate constituted under the provisions of Banking Companies (Acquisition and Transfer of Undertakings) Act, 5 of 1970, Having its Head Office at 1501, Lokmangal Shivaji Nagar, Pune and branch amongst other places at Asset Recovery Branch, Zonal Office Cidco Aurangabad, Through its Chief Manager, Mr. Somnath Bajrang Sasane, Age: 38 years, Occ.: Service as Chief Manager with Bank of Maharashtra, Asset Recovery Branch, Cidco Aurangabad, R/o.: Aurangabad.

¶6

… Applicant

¶7

Versus

¶8

1. Mr. Ramrao Laxman Jadhav, Age: Major, Occupation: Business R/o.: Kandgaon, Tal. Khultabad, District Aurangabad.

¶9

2. Mr. Bhausaheb Ramrao Jadhav, Age: Major, Occupation: Business

[AMBADAS]

(OA No.259/2025)

Page 1 of 9

R/o.: Kandgaon, Tal. Khultabad, District Aurangabad.

¶14

3. Mr. Sudam Ramrao Jadhav,

¶15

Age: Major, Occupation: Business R/o.: Kandgaon, Tal. Khultabad, District Aurangabad.

¶16

4. Mr. Ankush Ramrao Jadhav, Age: Major, Occupation: Business R/o.: Kandgaon, Tal. Khultabad, District Aurangabad.

¶17

5. Mr. Jagan Sarjerao Gaikwad, Age: Major, Occupation: Business R/o.: Daregaon, Tal. Khultabad, District Aurangabad.

¶18

6. Mr. Vitthal Damu Lagad, Age: Major, Occupation: Business R/o.: Kandgaon, Tal. Khultabad, District Aurangabad.

¶19

…Defendants

¶20

APPEARANCES

¶21

For the Applicant For Defendants

¶22

Mrs. Amruta P. Johar -Advocate Ex-parte

¶23

JUDGMENT Delivered on 20.08.2026

¶24

The Applicant Bank has filed the present application for the

¶25

recovery of a sum of Rs. 71,51,746/- (Rupees Seventy One Lacs,

(OA No.259/2025)

Page 2 of 9

[AMBADAS]

Fifty One Thousand, Seven Hundred and Forty Six only), along with future interest from the date of filing of the Original Application, i.e., 06.03.2025, until the date of realization of the entire outstanding dues from the Defendants.

¶30

Brief facts of the application are as under:

¶31

The Applicant Bank states that the Defendant No. 1 to 4 had approached and requested the Applicant Bank to sanction Term Loan Facility. Upon considering the request and financial needs of the Defendants, the Applicant Bank Sanctioned Term Loan Facility of Rs. 18,00,000/- vide sanction letter dated 01.06.2012 on certain terms and conditions. The agreed rate of interest for aforesaid loan facility was @14% p.a. with monthly rests. The Defendants also agreed to pay additional interest @2% by way of liquidated damages in the event of any default in repayment.

¶32

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,

(OA No.259/2025)

Page 3 of 9

[AMBADAS]

registered deed bearing daybook no. 814/2012 dated

¶37

07.06.2012. Additionally defendant No. 5 and 6 stood as guarantor for defendant No. 1 to 4 and executed deed of

¶38

guarantee dated 09.06.2012 in favour of the Applicant Bank.

¶39

The Applicant Bank further contends that, in order to secure the aforesaid loan facilities, the Defendants executed, registered deed bearing daybook no. 814/2012 dated 07.06.20 in respect of

¶40

following property:

¶41

All that piece and parcel of Property land bearing Gut No. 115, 116 and 68 totally admeasuring 7 H 74 R belonging to defendant no. 1 to 4, situated at Mathargaon/ Mahamadpur, village Khandgaon, Tal. Khultabad, Dist. Aurangabad, which is bounded as under:

¶42

Gut No. 115

¶43

East: Eknath Ambadas, West: Narayan Laxman, South: Percolation Tank, North: Self land.

¶44

Gut No. 116

¶45

East: Mangal Ambadas, West: Panand, South: Narayan Laxman, North: Village Shiv. Gut No. 68

¶46

East: Shaikh Raju and Shashikant Manshu, West: Vishwambhar Namdeo & Sukhdeo Bankar,

(OA No.259/2025)

Page 4 of 9

[AMBADAS]

South: Narayan Laxman & Sahebrao Laxman, North: Village Shiv & Pandurang Narayan.

¶51

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 defendants became irregular and classified as NPA on 31.05.2018. Therefore on 29.01.2025 the applicant bank issued legal notice to the defendants through their advocate. Despite service of Notices, the defendants failed and neglected to repay the outstanding dues of the applicant Bank. Hence, this application is filed.

(OA No.259/2025)

Page 5 of 9

[AMBADAS]

The defendants failed to appear in matter though they were duly served. Hence, defendants were proceeded ex-parte as per Order dated 19.08.2025.

¶56

The applicant Bank has filed Claim Affidavit of evidence at Exhibit-4 of Shri. Somnath Bajrang Sasane, Chief Manager of the applicant Bank, and has produced on record the original loan transaction documents as Exh. A-1 to A-10 along with list of documents Exh.5 which corroborates the case of the applicant Bank.

¶57

I have heard arguments of the learned Advocate for the applicant Bank.

¶58

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.259/2025)

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.

¶63

The applicant Bank has claimed future interest @14% p.a. from the date of filing i.e. 06.03.2025 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 @ 12% per annum (simple), it would be just and reasonable rate of interest.

¶64

ORDER

¶65

(A) Original Application No. 259/2025 is allowed with costs.

¶66

(B) The defendants shall pay jointly and severally to the applicant Bank a sum of Rs. 71,51,746/- (Rupees Seventy One Lacs, Fifty One Thousand, Seven Hundred and Forty Six only), along with future interest @ 12% per annum (simple) from the date of filing of the Original Application i.e. 06.03.2025 till full payment/realization of the amount mentioned in this operative order.

(OA No.259/2025)

Page 7 of 9

[AMBADAS]

mortgage of the following immovable property vide documents at Exhibit A-7 in the list of documents

¶72

Exhibit 5

¶73

¶74

Gut No. 115 East: Eknath Ambadas, West: Narayan Laxman, South: Percolation Tank, North: Self land. Gut No. 116 East: Mangal Ambadas, West: Panand, South: Narayan Laxman, North: Village Shiv.

¶75

Gut No. 68

¶76

East: Shaikh Raju and Shashikant Manshu, West: Vishwambhar Namdeo & Sukhdeo Bankar, South: Narayan Laxman & Sahebrao Laxman, North: Village Shiv & Pandurang Narayan.

(OA No.259/2025)

Page 8 of 9

[AMBADAS]

(D) The applicant Bank is entitled to sell the hypothecated

¶81

assets and mortgaged immovable properties to recover its dues.

¶82

(E) Issue Recovery Certificate accordingly.

¶83

(F) The Registrar is directed to send the copy of the Judgment and Recovery Certificate to the applicant and defendants.

¶84

(G) File be consigned to the record room.

¶85

Sd/-

¶86

Pronounced in open court. (Dr. J. R. Chauhan) Place: Aurangabad Presiding Officer Date:.20.08.2026 Debts Recovery Tribunal, Aurangabad

¶87

(OA No.259/2025)

¶88

Page 9 of 9

¶89

[AMBADAS]

Bank of Maharashtra v. Ramrao Laxman Jadhav

Case brief

What is this about?

What did the court decide?

Bank of Maharashtra v. Ramrao Laxman Jadhav

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

Coram

Case details

Similar cases

Hdfc Bank versus Sunita Laxman Done

Hdfc Bank versus Mita Manoj Kumat

Punjab National Bank versus Ashfaque Mukhtar Shaikkh

Ms Niraja Dental Clinic versus Bank of Maharashtra

Axis Bank versus Omkar Shivdarshan Mule

Bank of Maharashtra versus Ms Aryan Enterprises