Allowed

Idbi Bank v. Mr. Gangadhar S/o Yohan Jadhav

DRT13 Jan 2026OA/299/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an application by IDBI Bank Ltd for recovery of loan dues from three defendants who failed to appear. The court directed the defendants to pay the principal amount along with modified future interest at 7% p.a. and granted permission to sell mortgaged property.

What did the court decide?

Defendants jointly and severally liable to pay Rs. 23,66,810/- with future interest at 7% per annum; permission to sell mortgaged property granted; Recovery Certificate issued.

Idbi Bank versus Mr. Gangadhar S/o Yohan Jadhav — Contract and Commercial Disputes | DRT (2026)

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Presented on: 09.11.2023 Registered on: 24.04.2024 Decided on: 13.01.2026 Duration: Y M D 02 02 04

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IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Shri Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No.299/2024

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TOTAL CLAIM AMOUNT – Rs. 23,66,810/-

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IDBI BANK LTD

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A banking company incorporated and registered under the Companies Act, 1956, and a company within the meaning of Section

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2 (20) of the Companies Act, 2013 (18 of and a 2013) banking company duly registered, within the meaning of Banking Regulation Act, 1949, and having its

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… Applicant

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registered office at IDBI Tower, World Trade

(OA No.299-2024)

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[Ambadas]

Centre, Complex, Cuffe Parade, Mumbai400005 and through one of its Branch Savedi Naka, Ahmednagar, Plot No. 6, Near Yash Apartment, Nagar- Manmad Road, Savedi

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Naka, Ahmednagar- 414001.

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Versus

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Mr. Gangadhar S/o Yohan Jadhav,

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… Defendants

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Age: Major, Occ: Agri,

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R/o: At Nandgaon Shingave Naik,

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Tq. Ahmednagar, Dist. Ahmednagar-

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And also

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Gut No. 42/1, At Nandgaon, Tq & Dist.

Ahmednagar- 414111.

And also

(OA No.299-2024)

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[Ambadas]

At Kalyan Bethel House, Bethesda Compound Mahatma Phule Nagar,

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Mohane, Tq. Kalyan, Dist. Thane PAN No.: ASFPJ9012N. UDI ID: 511806750428.

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Mr. Sunder S/o Bhagwat Jadhav,

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Age: Major, Occ: Agri, R/o: At Nandgaon Shingave Naik,

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Tq. Ahmednagar, Dist. Ahmednagar-

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PAN No.: BEBPJ6410H.

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UDI ID: 584322421327.

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Mr. Ramesh S/o Bhagwat Jadhav,

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Age: Major, Occ: Agri,

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R/o: Jadhav Vasti, Mandgaon,

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Wasti, Shingave Naik Nagar,

(OA No.299-2024)

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[Ambadas]

Tq. Ahmednagar,

Dist. Ahmednagar- 414111.

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UDI No: 246890781624.

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Voter ID: ICF0051279.

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APPEARANCES

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For the Applicant For Defendants

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Mr. Pathak Anirudha S- Advocate Ex-parte

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J U D G M E N T Delivered on (13.01.2026)

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The Applicant Bank has filed the present application for recovery of the sum of Rs. 23,66,810/- (Rs. Twenty-Three Lakhs, Sixty-Six Thousand, Eight Hundred and Ten Only) together with future interest with monthly rests upon Crop Loan and Term Loan, as well as FITL and LNXP account till the full realization of the entire dues and costs from the Defendants.

(OA No.299-2024)

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[Ambadas]

Brief facts of the application are as under:

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That the Defendants approached the Applicant Bank and requested the sanction of a Crop Loan. Upon considering the Defendant’s representation, request, and financial needs, the Applicant Bank sanctioned to defendant No. 1, (Crop Loan) under The Maharashtra Provision of Facilities for Agricultural Credit by Bank Act 1974 of Rs. 3,00,000/- vide sanction letter dated 03.03.2017. Applicant Bank sanctioned Term Loan Facility of Rs. 12,50,000/- for the purpose of Term Loan dated 07.08.2017 on certain terms & conditions.

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The agreed rate of interest for the Term Loan Facility was @8.65% per annum with monthly rests.

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In order to secure the aforesaid Crop 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, equitable mortgage etc.

(OA No.299-2024)

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[Ambadas]

The Applicant Bank contended that to secure the Crop Loan facility, the Defendants executed Registered Mortgaged Deed bearing day book No. ANN-2-3292/2017 dated 17.07.2017, Hypothecation-cum-Loan Agreement dated 03.03.2017 executed by defendant No. 1, Guarantee Deed dated 03.03.2017 executed by defendant Nos. 2 & 3. The Defendants also executed documents for Term Loan, Demand Promissory Note dated 07.08.2017, Hypothecation-cum-Loan Agreement dated 07.08.2017 and Guarantee Deed dated 07.08.2017 executed by defendant Nos. 2 & 3 of the following property in favour of the Applicant Bank.

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All the piece and parcels of land i.e. Agri. Land at Gut No. 42/1, admeasuring area 2 H 02 R situated at Nandgaon, Tq. Rahuri, Dist. Ahmednagar. Standing in the name of defendant No. 1, (Mr. Gangadhar Yohan Jadhav).

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The Applicant Bank further contended that the Defendants failed to keep their promises and commitments agreed by them with

(OA No.299-2024)

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[Ambadas]

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. The defendant executed debt cum revival letter and revival letter dated 29.01.2019, 06.07.2021, in Crop Loan & 18.03.2020 & 06.07.2021 in Term Loan. Therefore on 08.12.2021, the Applicant Bank issued loan recall notice to the Defendants through their Officer. 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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Despite service through court commissioner, the defendants neither appeared nor filed WS. Hence, The defendants proceeded ex-parte as per Order dated 14.02.2025.

(OA No.299-2024)

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[Ambadas]

The Applicant Bank has filed Claim Affidavit of evidence at Exhibit-4 of Mr. Vijaykumar S/o Tukaram Nichit, Officer of the Applicant Bank and has produced on record the original loan transaction documents as Annex. A-1 to A-25 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 @8.65% per annum with monthly rests 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.

(OA No.299-2024)

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[Ambadas]

Hence, I pass the following order.

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ORDER

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(A) Original Application No. 299/2024 is allowed with

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costs.

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(B) The Defendants shall pay Jointly and Severally to the Applicant Bank a sum of Rs. 23,66,810/- (Rs. TwentyThree Lakhs, Sixty-Six Thousand, Eight Hundred and Ten Only) along-with future interest at @7% per annum (simple) from the date of filing of the Original Application, i.e., 09.11.2023, till full payment/ realization of the said amount.

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(C) The aforesaid adjudicated amount is secured by mortgage of immovable property in favour of the Applicant Bank vide document as Annex. A-6 and A-15 in list of document Exh.5. The mortgaged property is described as follows:

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All the piece and parcels of land i.e. Agri. Land at Gut

(OA No.299-2024)

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[Ambadas]

No. 42/1, admeasuring area 2 H 02 R situated at Nandgaon, Tq. Rahuri, Dist. Ahmednagar. Standing in the name of defendant No. 1, (Mr. Gangadhar Yohan Jadhav).

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(D) The Applicant Bank is entitled to sell the mortgaged immovable property and hypothecated articles/goods, 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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(Dr. J. R. Chauhan) Place : Aurangabad Presiding Officer Date : 13.01.2026 Debts Recovery Tribunal, Aurangabad

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(OA No.299-2024)

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[Ambadas]

Idbi Bank v. Mr. Gangadhar S/o Yohan Jadhav

Case brief

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Idbi Bank v. Mr. Gangadhar S/o Yohan Jadhav

Case brief

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