Allowed

Vidharbha Konkan Gramin Bank v. Mr Niranjan Bhagwat Kolekar

DRT15 Jul 2026OA/287/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the bank's application for recovery of outstanding dues from a borrower and guarantors. Due to default and failure to appear by respondents, the tribunal directed payment of principal amounts along with future interest and authorized the sale of mortgaged properties. Interest rate was moderated to 9% p.a.

What did the court decide?

Respondents directed to pay principal sums for three loans along with future interest at 9% per annum from 13.05.2019 and permission to sell mortgaged properties granted.

Vidharbha Konkan Gramin Bank versus Mr Niranjan Bhagwat Kolekar — Banking and Recovery | DRT (2026)

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Presented on .. 13.05.2019 Registered on .. 20.02.2023 Decided on .. 15.07.2026 Duration .. Y—M—D 07--02--02

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IN THE DEBTS RECOVERY TRIBUNAL AT PUNE (Before Shri Dilip G. Murumkar, Presiding Officer) ORIGINAL APPLICATION No. 287/2023.

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Vidharbha Konkan Gramin Bank,

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Earlier known as Wainganga Krishna Gramin Bank merged/amalgamated with Vidharbha Kshetriya Gramin Bank and thereafter to form new Bank called Vidharbha Konkan Gramin Bank, Banking Company incorporated under the Banking Companies (Acquisition and Transfer of Undertaking) Act, 1970 having head office at Chandraprastha, 2^nd and 3^rd Floor, Plot No. 6, Deendayal Nagar, Ring Road, Nagpur and Branch at – Gursale, Taluka Pandharpur, District Solapur.

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… Applicant

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Versus

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1 Mr. Niranjan Bhagwat Kolekar, A/P Gursale, Taluka Pandharpur, District Solapur 413 304.

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2 Mr. Dattatray Vilas Devkate, A/P Gursale, Taluka Pandharpur, District Solapur 413 304.

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3 Mrs. Asha Niranjan Kolekar, A/P Gursale, Taluka Pandharpur, District Solapur 413 304.

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Sanap ( OA No.287/2023 ) 1 of 7

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4 Mr. Nana Shreerang Kawade, A/P Gursale, Taluka Pandharpur, District Solapur 413 304.

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5 Mr. Vilas Pralhad Devkate, A/P Gursale, Taluka Pandharpur, District Solapur 413 304. … Defendants

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Appearances :-

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For Applicant Advocate Pooja Mali i/b M.V. Kini & Co. For Defendants Ex parte.

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Total Claim Amount – Rs.37,43,262/-

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JUDGMENT

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(Delivered on 15^th July, 2026)

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The Applicant Bank has filed the present application for recovery of the sum of Rs.37,43,262/- together with future interest @15.5% per annum from 31.03.2019 till realization of the entire dues from the defendants.

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Brief facts of the application are as under :-

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Defendant No. 1 is the borrower and defendant Nos. 2 to 5 are guarantors. As per the loan applications of defendant No.1, the applicant Bank sanctioned and disbursed the following loan facilities to defendant No.1.

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Name of facility Amount Rs. Date of Sanction 1 Term Loan I 4,95,000/09.09.2011 2 KCC Loan 2,30,000/09.09.2011

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Sanap ( OA No.287/2023 ) 2 of 7

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3 Term Loan II 10,00,000/19.06.2013 4 Term Loan III 4,95,000/03.02.2015

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Defendant Nos.2 and 3 stood guarantors for the repayment of Term Loan I and Term Loan II availed by defendant No.1. Defendant No.2 stood guarantor for the repayment of KCC Loan availed by defendant No.1. Defendant Nos.4 and 5 stood guarantors for the repayment of Term Loan III availed by defendant No.1.

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In order to secure the aforesaid loan facilities, the defendants have executed necessary loan and security documents in favour of the applicant Bank.

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Defendant No.1 has also executed registered deed of mortgage dated 22.07.2013 in favour of the applicant Bank in respect of immovable properties i.e. (i) Gat No. 504/1/3 area 1H 05R; (ii) Gat No. 504/2 area 2H 26R; (iii) Gat No. 505/1A area 20R; (iv) Gat No. 505/2 area 21R and (v) Gat No. 518/3 area 80R situated at village Gursale, Taluka Pandharpur, District Solapur. Defendant No.1 has also executed registered deed of mortgage dated 04.02.2015 in favour of the applicant Bank in respect of house property bearing S.No.431 admeasuring in aggregate 1573 square feet situated at village Gursale, Taluka Pandharpur, District Solapur.

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Sanap ( OA No.287/2023 ) 3 of 7

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Defendant No.1 has also executed Letter of Acknowledgment of Debt on 31.01.2018, 31.03.2015, 30.05.2016, 21.03.2017, 05.03.2018 and 27.12.2018 in favour of the applicant Bank and thereby confirmed the balance outstanding in loan accounts.

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The applicant Bank contended that the defendants committed defaults in payment of installments and failed to regularize the accounts. Hence, on 16.07.2016, the applicant Bank has classified the account of the defendants as Non-Performing Asset in accordance with guidelines of Reserve Bank of India. Thereafter, on 09.03.2019, the applicant Bank issued Recall Notice to the defendants. Despite service of Notice, the defendants failed and neglected to pay the outstanding dues of the applicant Bank.

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Hence, this application is filed.

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The defendants failed to appear despite service of summons. Hence, the application proceeded ex-parte against the defendants as per Order dated 12.03.2026 passed below Application (Exhibit-1).

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The applicant Bank has filed Claim Affidavit of evidence (Exh. 6) of Shishir Deshmukh, Manager and Authorized Signatory of applicant Bank, and has produced on record

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Sanap ( OA No.287/2023 ) 4 of 7

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the original loan transaction documents at Sr. Nos. AW11 to AW1-50 along with list (Exhibit 7), 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 evidence of the applicant Bank. Therefore, the applicant Bank is entitled for reliefs as claimed.

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The applicant Bank has claimed future interest @15.5% per annum from 31.03.2019 till realization of the entire dues from the defendants. However, considering the facts of the case, I am of the opinion that if future interest is granted @9% per annum (simple) from the date of filing of the Application i.e. 13.05.2019 till realization of entire amount, it would be just and reasonable rate of interest. Hence, I pass the following order.

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O R D E R

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A} Original Application No.287/2023 is allowed with costs. B} Defendant Nos.1 to 3 either jointly or severally shall pay to the applicant Bank the sum of Rs.9,11,401/- (Rupees Nine Lakh Eleven Thousand Four Hundred One only) towards Term Loan I along with future interest @9%

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Sanap ( OA No.287/2023 ) 5 of 7

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per annum from the date of filing of the Original Application i.e. 13.05.2019 till full payment/realization of the amount mentioned in this operative order.

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C} Defendant Nos.1 and 2 either jointly or severally shall pay to the applicant Bank the sum of Rs.4,74,500/(Rupees Four Lakh Seventy Four Thousand Five Hundred only) towards KCC Loan along with future interest @9% per annum from the date of filing of the Original Application i.e. 13.05.2019 till full payment/realization of the amount mentioned in this operative order.

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D} Defendant Nos.1 to 3 either jointly or severally shall pay to the applicant Bank the sum of Rs.15,59,538/- (Rupees Fifteen Lakh Fifty Nine Thousand Five Hundred Thirty Eight only) towards Term Loan II along with future interest @9% per annum from the date of filing of the Original Application i.e. 13.05.2019 till full payment/realization of the amount mentioned in this operative order.

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E} Defendant Nos.1, 4 and 5 either jointly or severally shall pay to the applicant Bank the sum of Rs.7,97,823/(Rupees Seven Lakh Ninety Seven Thousand Eight Hundred Twenty Three only) towards Term Loan III

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Sanap ( OA No.287/2023 ) 6 of 7

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along with future interest @9% per annum from the date of filing of the Original Application i.e. 13.05.2019 till full payment/realization of the amount mentioned in this operative order.

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F} The aforesaid adjudicated amount is secured by the valid and subsisting mortgage in respect of (i) Gat No. 504/1/3 area 1H 05R; (ii) Gat No. 504/2 area 2H 26R; (iii) Gat No. 505/1A area 20R; (iv) Gat No. 505/2 area 21R and (v) Gat No. 518/3 area 80R and house property bearing S.No.431 admeasuring 1573 square feet situated at village Gursale, Taluka Pandharpur, District Solapur, more particularly described in the Schedule of the Original Application.

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G} The applicant Bank is entitled to sell the mortgaged property to recover its dues.

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H} Issue Recovery Certificate. I} The Registrar is directed to send the copy of Judgment and Recovery Certificate to the applicant and defendants.

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Sd/( Dilip G. Murumkar ) Place : Pune Presiding Officer Date : 15.07.2026 Debts Recovery Tribunal, Pune.

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Sanap ( OA No.287/2023 ) 7 of 7

Vidharbha Konkan Gramin Bank v. Mr Niranjan Bhagwat Kolekar

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Vidharbha Konkan Gramin Bank v. Mr Niranjan Bhagwat Kolekar

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