Allowed

Canara Bank v. Rameshwar Swaroopchand Ghushinge

DRT11 Feb 2026OA/280/2025

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal, Aurangabad allowed an original application filed by Canara Bank for recovery of loan dues of Rs. 59,97,564/- along with future interest at 7% p.a. The matter was decided ex parte as the defendants failed to appear and contest the petition.

What did the court decide?

Defendants ordered to pay Rs. 59,97,564/- with future interest at 7% p.a.; mortgaged property order issued for recovery.

Canara Bank versus Rameshwar Swaroopchand Ghushinge — Contract and Commercial Disputes | DRT (2026)

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Presented on: 05.04.2025 Registered on: 15.05.2025 Decided on: 11.02.2026 Duration: Y M D 00 10 06

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IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 280/2025

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TOTAL CLAIM AMOUNT – Rs. 59,97,564/-

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CANARA BANK,

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A Body Corporate constituted under the Banking companies (Acquisition & Transfer of Undertakings) Act, 1970, having its Head Office at 112, J.C. Road, Bangalore Karnataka State and one of its Br. Railway Station Road, Aurangabad, through its Chief Manager Mr. Akhilesh Chandra M.C. Joshi.

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… Applicant

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Versus

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1. Rameshwar Swaroopchand Ghushinge, Age: 50 years, Occ.: Agriculture, R/o.: At Fatiyabad, Post Maliwada, Tal. Gangapur Dist. Aurangabad.

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2. Vinod Ramnath Sonawane, Age: Major, Occ.: Agriculture, R/o.: At Fatiyabad, Post Maliwada, Tal. Gangapur Dist. Aurangabad.

…Defendants

(OA No.280/2025)

Page 1 of 7

[AMBADAS]

APPEARANCES

For the Applicant For Defendants

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Mr. Sameer J. Pande -Advocate Ex-parte

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JUDGMENT

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Delivered on 11.02.2026

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The Applicant Bank has filed the present application for the recovery of a sum of Rs. 59,97,564/- (Rupees Fifty Nine Lacs, Ninety Seven Thousand, Five Hundred and Sixty Four only), along with future interest from the date of filing of the Original Application, i.e., 05.04.2025, 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 the Defendant No. 1 approached and requested the Applicant Bank for Term loan facility. Upon considering the request and financial needs of the Defendant, the Applicant Bank Sanctioned Agriculture Term loan facility of Rs. 15,00,000/- vide sanction letter dated 22.12.2009 on certain terms and conditions. The agreed rate of interest for the aforesaid

(OA No.280/2025)

Page 2 of 7

[AMBADAS]

loan was @13% p.a. with half yearly rests. The Defendants also agreed to pay additional interest @2% by way of liquidated damages in the event of any default in repayment.

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In order to secure the aforesaid loan facility, the Defendant executed various loan documents in favour of the Applicant Bank. These included sanction letter, hypothecation agreement, simple mortgage deed bearing No. 5163/2009 dated 24.12.2009, demand promissory note, etc. Additionally defendant No. 2 stood as guarantor for defendant No. 1 and executed deed of guarantee 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 mortgage deed bearing No. 5163/2009 dated 24.12.2009 in favor of the applicant bank. The mortgage was created in respect of the following property:

(OA No.280/2025)

Page 3 of 7

[AMBADAS]

All that piece and parcel of Agricultural land, admeasuring 3.35 H.R, part of Gut No. 67 situated at Fatiyabad, Tal. Gangapur, Dist. Aurangabad.

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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 defendants became irregular and classified as NPA. Therefore, on 15.03.2025 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.280/2025)

Page 4 of 7

[AMBADAS]

The defendants failed to appear in matter though they were served through RPAD. Hence, the defendants were proceeded exparte as per Order dated 04.12.2025.

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The applicant Bank has filed Evidence Affidavit of evidence at Exhibit-4 of Mr. Akhilesh Chandra S/o. Mohan Chandra Joshi, Chief Manager of the applicant Bank, and has produced on record the original loan transaction documents as Annexure 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 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.280/2025)

Page 5 of 7

[AMBADAS]

The applicant Bank has claimed charge over immovable property of the borrower which is mortgaged in favour of the applicant bank.

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The applicant Bank has claimed future interest @15% p. a. from the date of filing i.e. 05.04.2025 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 @ 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. 280/2025 is allowed with costs.

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(B) The defendants shall pay jointly and severally to the applicant Bank a sum of Rs. 59,97,564/- (Rupees Fifty Nine Lacs, Ninety Seven Thousand, Five Hundred and Sixty Four only), along with future interest @ 7% per annum (simple) from the date of filing of the O.A. i.e. 05.04.2025 till full payment/realization of the amount mentioned in this operative order.

(OA No.280/2025)

Page 6 of 7

[AMBADAS]

(C) The aforesaid adjudicated amount is secured by the mortgage of the following vide document at Annexure A-4 in list of documents Exh. 5.

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All that piece and parcel of Agricultural land, admeasuring 3.35 H.R, part of Gut No. 67 situated at Fatiyabad, Tal. Gangapur, Dist. Aurangabad.

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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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Sd/-

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Pronounced in open court. Place: Aurangabad Date:.11.02.2026

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

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(OA No.280/2025)

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Page 7 of 7

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[AMBADAS]

Canara Bank v. Rameshwar Swaroopchand Ghushinge

Case brief

What is this about?

What did the court decide?

Canara Bank v. Rameshwar Swaroopchand Ghushinge

Case brief

What is this about?

What did the court decide?

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