Allowed

Idbi Bank v. Bhaskar S/o Maruti Tambe

DRT26 Mar 2026OA/289/2024

Case brief

AI extract

What is this about?

IDBI Bank filed an application for recovery of a term loan of Rs. 21,84,220/- with interest from respondents who failed to repay. The defendants appeared ex-parte. The Tribunal allowed the application, directed payment with future interest at 7% per annum, and recognized mortgaged agricultural land as security.

What did the court decide?

Payment of Rs. 21,84,220/- plus future interest at 7% per annum (simple); recognition of mortgaged land as security; issue of Recovery Certificate.

Idbi Bank versus Bhaskar S/o Maruti Tambe — Company and Corporate | DRT (2026)

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Presented on: 31.07.2023 Registered on: 24.04.2024 Decided on: 26.03.2026 Duration: Y M D 02 08 23

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IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD

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(Before Shri Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 289/2024

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TOTAL CLAIM AMOUNT – Rs. 21,84,220/-

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IDBI BANK LIMITED.,

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A Company incorporated under the

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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,

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… Applicant

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World Trade Centre, Complex, Cuffe Parade,

(OA No.289-2024)

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[Ambadas]

Mumbai- 400005 and through one of its Branch at Chandrapur, Vikhe Building, Gat No. 55/2, Chandrapur, Rahata (Tal.), Ahmednagar, Pin- 413736, Maharashtra. Through its Authorized Signatory Mr. Vijaykumar S/o Tukaram Nichit, Age: 41 Years, Occ: Service.

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Versus

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… Defendants

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Shri. Bhaskar S/o. Maruti Tambe, Age: 57 Years, Occ: Agriculture,

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R/o: At Post Durgapur, Loni Bk.

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Tq. Rahata, Dist. Ahmednagar- 413736.

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And also;

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Gut No. 36, Durgapur, Taluka Rahata,

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Dist. Ahmednagar- 413736.

(OA No.289-2024)

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[Ambadas]

PAN: AEBPT357E. Mobile No: 9960361448, 9604288328.

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Smt. Anita Bhaskar Tambe,

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Age: 51 Years, Occ: Household, R/o: At Post Gavthan Durgapur, Loni Bk.

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Tq. Rahata, Dist. Ahmednagar- 413736.

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And also; Gut No. 36, Durgapur, Taluka Rahata,

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Dist. Ahmednagar- 413736. PAN: ARFPT26M. Mobile No: 9960361448.

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Shri. Mukesh Balasaheb Tambe,

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Age: 28 Years, Occ: Agri,

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R/o: At Post Gulve Vasti Road, Durgapur,

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Loni Bk. Tq. Rahata, Dist. Ahmednagar-

(OA No.289-2024)

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[Ambadas]

Smt. Sunita W/o. Balasaheb Tambe,

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Age: 52 Years, Occu: Household,

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R/o: At Post Durgapur, Loni Bk.

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Tq. Rahata, Dist. Ahmednagar- 413736.

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APPEARANCES

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For the Applicant Mr. Pathak Anirudha S- Advocate For Defendants Ex-parte

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J U D G M E N T

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Delivered on (26.03.2026)

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The Applicant Bank has filed the present application for

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recovery of the sum of Rs. 21,84,220/- (Rs. Twenty-One Lakhs, Eighty-Four Thousand, Two Hundred and Twenty Only) together with respective interest upon Term Loan and LNXP account from 03.07.2023 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

(OA No.289-2024)

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[Ambadas]

requested for the sanction of a Term Loan facility. Upon considering the Defendant’s representation, request, and financial needs, the Applicant Bank sanctioned a Term Loan facility of Rs. 20,00,000/- for construction of cattle shed and purchase of 20 number of jersey cows vide sanction letter dated 18.11.2019 on certain terms & conditions.

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The agreed rate of interest for the Term Loan Facility was @11% per annum on quarterly basis.

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In order to secure the aforesaid Term Loan facility, the Defendants executed loan documents in favour of the Applicant Bank namely sanction letter, demand promissory note, request letter, hypothecation agreement, letter of undertaking, deed of mortgage etc.

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The Applicant Bank contended that, in order to secure the Term Loan facility, The Defendant Nos. 1 and 2 are the principal borrowers, and Defendant Nos. 3 and 4 are the guarantors of the said loan facility. Defendant Nos. 1 and 2 executed a Registered

(OA No.289-2024)

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[Ambadas]

Mortgage Deed bearing Day Book No. RHT-4358/2019 dated 19.11.2019 of the following properties in favour of the Applicant

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Bank:-

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All the piece and parcels of immovable property i.e.

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Agricultural land in Gut No. 36, admeasuring area 68.50 Ha,

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situated at Village Durgapur, Tq. Rahata, Dist. Ahmednagar,

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Maharashtra, Standing in the name of Defendant No. 1

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(Mr. Bhaskar Maruti Tambe).

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All the piece and parcels of immovable property i.e.

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Agricultural land in Gut No. 36, admeasuring area 68.50 Ha, situated at Village Durgapur, Tq. Rahata, Dist. Ahmednagar, Maharashtra, Standing in the name of Defendant No. 2

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(Mrs. Anita Bhaskar Tambe).

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The Applicant Bank further contended that the Defendants failed

(OA No.289-2024)

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[Ambadas]

to keep their promises and commitments agreed by them with regard to the 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 17.12.2021, the Applicant Bank issued loan recall 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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The Defendant Nos. 1 to 4 have been served through Court Commissioner. The defendants neither appeared nor filed WS. Hence, they proceeded ex-parte vide Order dated 16.01.2025.

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The Applicant Bank has filed Claim Affidavit of evidence at Exhibit-4 of Mr. Vijaykumar S/o Tukaram Nichit, AGM Recovery

(OA No.289-2024)

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[Ambadas]

of the Applicant Bank and has produced on record the original loan transaction documents as Annex. A-1 to A-14 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.

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The Applicant Bank has claimed future interest at @11% per annum with monthly rests from 03.07.2023 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), it would be just and reasonable.

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Hence, I pass the following order.

(OA No.289-2024)

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[Ambadas]

ORDER

(A) Original Application No. 289/2024 is allowed with costs.

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(B) The Defendants shall pay Jointly and Severally to the Applicant Bank a sum of Rs. 21,84,220/- (Rs. TwentyOne Lakhs, Eighty-Four Thousand, Two Hundred and Twenty Only) along-with future interest at @7% per annum (simple) from the date of filing of the Original Application, i.e., 31.07.2023, till full payment/ realization of the said amount.

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

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All the piece and parcels of immovable property i.e.

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Agricultural land in Gut No. 36, admeasuring area

(OA No.289-2024)

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[Ambadas]

68.50 R, situated at Village Durgapur, Tq. Rahata,

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Dist. Ahmednagar, Maharashtra, Standing in the

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name of Defendant No. 1

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(Mr. Bhaskar Maruti Tambe).

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All the piece and parcels of immovable property i.e.

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Agricultural land in Gut No. 36, admeasuring area

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68.50 R, situated at Village Durgapur, Tq. Rahata,

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Dist. Ahmednagar, Maharashtra, Standing in the

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name of Defendant No. 2

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(Mrs. Anita Bhaskar Tambe).

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

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(E) Issue Recovery Certificate accordingly.

(OA No.289-2024)

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[Ambadas]

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

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Place : Aurangabad Date : 26.03.2026

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(OA No.289-2024)

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[Ambadas]

Idbi Bank v. Bhaskar S/o Maruti Tambe

Case brief

What is this about?

What did the court decide?

Idbi Bank v. Bhaskar S/o Maruti Tambe

Case brief

What is this about?

What did the court decide?

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