Allowed

Idbi Bank v. Anil Nivrutti Nalage

DRT10 Aug 2026OA/268/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an application filed by IDBI Bank for recovery of an agricultural term loan of Rs. 21.40 lakh. Finding the defendants failed to contest and default on repayment, the court awarded principal and reduced future interest, along with power to sell mortgaged lands.

What did the court decide?

Defendants directed to jointly and severally pay Rs. 21,40,486/- plus future interest at 7% p.a. Bank entitled to sell mortgaged properties and issued a recovery certificate.

Idbi Bank versus Anil Nivrutti Nalage — Execution and Attachment | DRT (2026)

¶1

Presented on: 01.12.2023 Registered on: 15.04.2024 Decided on: 10.08.2026 Duration: Y M D 02 08 09

¶2

IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Shri Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 268/2024

¶3

TOTAL CLAIM AMOUNT – Rs. 21,40,486/-

¶4

IDBI BANK LIMITED.,

¶5

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 Shrigonda, Supekar Building, Daund-Jamkhed Road, Shrigonda, Tq. Shrigonda, Dist. Ahmednagar, Maharashtra413701. Through its Authorized Officer- Shri. Vijaykumar S/o. Tukaram Nichit, Age: 41 Years, Occu: Service as AGM Recovery in Applicant Bank.

¶6

… Applicant

¶7

Email: [email protected].

Mob. No: 9096338787.

(OA No. 268-2024)

Page 1 of 11

[Ambadas]

Versus

Mr. Anil Nivrutti Nalage, Age: Major, Occ: Agri, R/o: 1608, Nimjewadi, Post Kolgaon, Tq. Shrigonda, Dist. Ahmednagar- 413728. And also; Gut No. 187, At Village Kolgaon, Tq. Shrigonda, Dist. Ahmednagar- 413728. And also; Gut No. 196, At Village Kolgaon, Tq. Shrigonda, Dist. Ahmednagar- 413728. And also; Gut No. 182, At Village Kolgaon, Tq. Shrigonda, Dist. Ahmednagar- 413728. And also; Gut No. 192, At Village Kolgaon, Tq. Shrigonda, Dist. Ahmednagar- 413728. And also; Gut No. 234, At Village Kolgaon, Tq. Shrigonda, Dist. Ahmednagar- 413728.

… Defendants

(OA No. 268-2024)

Page 2 of 11

[Ambadas]

Adhar No. : 583659296761.

¶19

Mr. Rajendra Ramdas Bhapkar,

¶20

Age: Major, Occ: Agri, R/o: At Post 1318, Vethekarwadi,

¶21

Bhapkarwadi, Kolgaon, Tq. Shrigonda, Dist. Ahmednagar- 413278. Voter ID No.: BTB1682707. PAN No.: ATGPB0156P. 3. Mr. Murlidhar Bhagwant Takale, Age: Major, Occ: Agri, R/o: At Bhangaon, Tq. Shrigonda,

¶22

Dist. Ahmednagar- 413701. Voter ID No.: MT39228510006, Adhar ID No.: 899683685503.

¶23

APPEARANCES For the Applicant Mr. Pathak Anirudha S- Advocate For Defendants None

¶24

J U D G M E N T

¶25

Delivered on (10.08.2026)

¶26

The Applicant Bank has filed the present application for

(OA No. 268-2024)

Page 3 of 11

[Ambadas]

recovery of the sum of Rs. 21,40,486/- (Rs. Twenty-One Lakh, Forty Thousand, Four Hundred and Eighty-Six Only) together with interest upon Term loan and LNXP account facilities from 01.12.2023 till the full realization of the entire dues and costs from the Defendants.

¶31

Brief facts of the application are as under:

¶32

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 Agricultural Finance Scheme Term Loan facility of Rs. 15,30,000/- for Poly house construction etc., vide sanction letter dated 13.03.2015 on certain terms & conditions.

¶33

The agreed rate of interest for the Term Loan Facility was @10.25% per annum with half yearly rests.

¶34

In order to secure the aforesaid Term Loan facility, the Defendants executed loan documents in favour of the Applicant

(OA No. 268-2024)

Page 4 of 11

[Ambadas]

Bank namely sanction letter, demand promissory note, request letter, hypothecation agreement, letter of undertaking, equitable mortgage etc.

¶39

The Applicant Bank contended that, in order to secure the Term Loan facility, Defendant No. 1 is the principal borrower, and the Defendant Nos. 2 & 3 are the guarantors of the said loan facility. The Defendant No. 1 executed Registered Mortgage deed bearing Day Book No. SDG-1131/2015 dated 11.06.2018 and Registered Correction Deed bearing Day Book No. SDG-3226/2015 dated 31.07.2015 in respect of the following properties in favour of the Applicant Bank:-

¶40

A) All the piece and parcels of Agri. Land at Gut No. 187, admeasuring area 14 R, situated at Kolgaon, Tq. Shrigonda, Dist. Ahmednagar, standing in the name of Defendant No. 1 (Mr. Anil Nivrutti Nalage).

¶41

B) All the piece and parcels of Agri. Land at Gut No. 196, admeasuring area 14 R, situated at Kolgaon, Tq. Shrigonda, Dist. Ahmednagar, standing in the name of Defendant No. 1

(OA No. 268-2024)

Page 5 of 11

[Ambadas]

(Mr. Anil Nivrutti Nalage).

¶46

C) All the piece and parcels of Agri. Land at Gut No. 182, admeasuring area 57 R + Potkharab 4 R, situated at Kolgaon, Tq. Shrigonda, Dist. Ahmednagar, standing in the name of Defendant No. 1 (Mr. Anil Nivrutti Nalage).

¶47

D) All the piece and parcels of Agri. Land at Gut No. 192, admeasuring area 52 R, situated at Kolgaon, Tq. Shrigonda, Dist. Ahmednagar, standing in the name of Defendant No. 1 (Mr. Anil Nivrutti Nalage).

¶48

E) All the piece and parcels of Agri. Land at Gut No. 234, admeasuring area 62 R, situated at Kolgaon, Tq. Shrigonda, Dist. Ahmednagar, standing in the name of Defendant No. 1 (Mr. Anil Nivrutti Nalage).

¶49

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

(OA No. 268-2024)

Page 6 of 11

[Ambadas]

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.

¶54

Adv. Mr. Thote D. K. was appeared for the Defendant No. 1 but did not file his WS. Despite service, the defendant Nos. 2 and 3 neither appeared nor filed WS. Hence, the Defendant No. 1 proceeded with No WS order and the Defendant Nos. 2 & 3 proceeded ex-parte vide Order dated 10.02.2026.

¶55

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

(OA No. 268-2024)

Page 7 of 11

[Ambadas]

Bank.

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

¶61

Since the Defendants failed to file written statement 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.

¶62

The Applicant Bank has claimed future interest at @10.25% per annum with half yearly rests from 01.12.2023 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 @7% per annum (simple) on outstanding amount, it would be just and reasonable.

¶63

Hence, I pass the following order.

¶64

ORDER

¶65

(A) Original Application No. 268/2024 is allowed with costs.

(OA No. 268-2024)

Page 8 of 11

[Ambadas]

(B) The Defendants shall pay jointly and severally to the Applicant Bank a sum of Rs. 21,40,486/- (Rs. TwentyOne Lakh, Forty Thousand, Four Hundred and EightySix Only), along-with future interest at @7% per annum (simple) from the date of filing of the Original Application, i.e., 01.12.2023, till full payment/ realization of the said amount.

¶70

(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

¶71

follows:-

¶72

A) All the piece and parcels of Agri. Land at Gut No. 187, admeasuring area 14 R, situated at Kolgaon, Tq. Shrigonda, Dist. Ahmednagar, standing in the name of Defendant No. 1

¶73

(Mr. Anil Nivrutti Nalage).

¶74

B) All the piece and parcels of Agri. Land at Gut No. 196, admeasuring area 14 R, situated

(OA No. 268-2024)

Page 9 of 11

[Ambadas]

at Kolgaon, Tq. Shrigonda, Dist. Ahmednagar, standing in the name of Defendant No. 1 (Mr. Anil Nivrutti Nalage).

¶79

C) All the piece and parcels of Agri. Land at

¶80

Gut No. 182, admeasuring area 57 R + Potkharab 4 R, situated at Kolgaon, Tq. Shrigonda, Dist. Ahmednagar, standing in the name of Defendant No. 1 (Mr. Anil Nivrutti Nalage). D) All the piece and parcels of Agri. Land at

¶81

Gut No. 192, admeasuring area 52 R, situated at Kolgaon, Tq. Shrigonda, Dist. Ahmednagar, standing in the name of Defendant No. 1

¶82

(Mr. Anil Nivrutti Nalage).

¶83

E) All the piece and parcels of Agri. Land at Gut No. 234, admeasuring area 62 R, situated at Kolgaon, Tq. Shrigonda, Dist. Ahmednagar, standing in the name of Defendant No. 1 (Mr. Anil Nivrutti Nalage).

¶84

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

(OA No. 268-2024)

Page 10 of 11

[Ambadas]

(E) Issue Recovery Certificate accordingly.

¶89

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

¶90

(G) File be consigned to the record room.

¶91

Sd/-

¶92

Place : Aurangabad Date : 10.08.2026

¶93

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

¶94

(OA No. 268-2024)

¶95

Page 11 of 11

¶96

[Ambadas]

Idbi Bank v. Anil Nivrutti Nalage

Case brief

What is this about?

What did the court decide?

Idbi Bank v. Anil Nivrutti Nalage

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

Union Bank of India versus Abdul Aamer Malik

Union Bank of India versus Gorakh Laxman Soutade

Hdfc Bank versus Manzoor Badiulla Beg

Bank of Baroda versus Kirti Santosh Jadhav (Rathod)

Idbi Bank versus Suyog S/O Shamlal Kayasth

Axis Bank versus Janata Pashukhadya House