Allowed

Union Bank of India v. Mr. Chandrashekhar Bhimrao Walanjunwani

DRT27 Mar 2026OA/346/2025

Case brief

AI extract

What is this about?

Dr. J. R. Chauhan presiding officer allowed a recovery application filed by Union Bank of India against borrowers and guarantors for an outstanding principal amount of Rs. 35,88,108.43/- along with future interest at 9% per annum simple interest, securing the debt on mortgaged properties.

What did the court decide?

Order allowing the application, directing payment of Rs. 35,88,108.43/- with future interest @ 9% p.a. simple, and invocation of charge on mortgaged properties.

Union Bank of India versus Mr. Chandrashekhar Bhimrao… — Insolvency and Bankruptcy | DRT (2026)

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Presented on: 29.05.2025 Registered on: 10.06.2025 Decided on: 27.03.2026 Duration: Y M D 09 00 28

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IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 346/2025

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TOTAL CLAIM AMOUNT – Rs. 35,88,108.43/-

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Union Bank of India, A Body Corporate constituted

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under the Banking companies (Acquisition and Transfer of Undertakings) Act, 1970 having its Registered office at 239, Vidhan Bhavan Marg, Nariman Point, Mumbai-400021 & having branches amongst the other places at Songir, Tal. & Dist. Dhule through its Authorized Person, Mr. Manoj Bhagwat Chavan (Senior Manager), Age: 38 yrs., Occ.: Service,

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R/o.: Songir Tq. and Dist. Dhule.

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Versus

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… Applicant

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1. Mr. Chandrashekhar Bhimrao Walanjuwani Prop. of M/s. Annapurna Industries Age: Major, Occ.: Business R/o. : At F-24, Nardana Growth Center, Phase-II, Nardana MIDC area, Dhule, Dist. Dhule 425404.

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[AMBADAS] (OA No.346/2025)

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Page 1 of 10

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AND/OR

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Mr. Chandrashekhar Bhimrao Walanjuwani Prop. of M/s. Annapurna Industries Age: Major, Occ.: Business R/o.: At House No. 201, Rath Galli, Kasar Galli, Post Songir, Tq. and Dist. Dhule 424309.

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2. Smt. Kokilabai Bhimrao Walanjuwani

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Age: Major, Occ.: Business R/o.: At House No. 201, Rath Galli, Kasar Galli, …Defendants Post Songir, Tq. and Dist. Dhule 424309.

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APPEARANCES

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Mr. K.D. Pande -Advocate Ex-parte

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For the Applicant For Defendants

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JUDGMENT

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Delivered on 27.03.2026

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The Applicant Bank has filed the present application for the

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recovery of a sum of Rs. 35,88,108.43/- (Rupees Thirty Five Lacs, Eighty Eight Thousand, One Hundred Eight and Forty Three Paisa only), along with future interest from the date of filing of the Original Application, i.e., 29.05.2025, until the date of realization of the entire outstanding dues from the Defendants.

(OA No.346/2025)

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[AMBADAS]

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 seeking financial assistance. Upon considering the request and financial needs of the Defendant, the Applicant Bank sanctioned Cash Credit facility of Rs. 24,00,000/- vide sanction letter dated 18.02.2019 on certain terms and conditions. The agreed rate of interest for the aforesaid loan was @10.20% p.a. with monthly rests. The Defendant also agreed to pay additional interest @2% by way of liquidated damages in the event of any default in repayment.

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That, thereafter, the defendant No. 1 had approached to the applicant bank and requested to sanction a Term Loan Facility under GECL scheme and upon considering the request and need of the defendant, the applicant bank sanctioned a term loan of Rs. 4,60,000/- vide sanction letter dated 26.06.2020 on certain terms

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and conditions. The agreed rate of interest for the aforesaid loan

(OA No.346/2025)

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[AMBADAS]

was @7.50% p.a. with monthly rests. The Defendant also agreed

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to pay additional interest @2% by way of liquidated damages in the event of any default in repayment.

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That, thereafter, the defendant No. 1 had again approached to the applicant bank and requested to sanction a Term Loan Facility under GECL scheme and upon considering the request and need of the defendant, the applicant bank sanctioned a term loan of Rs. 2,30,000/- vide sanction letter dated 13.07.2022 on certain terms

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and conditions. The agreed rate of interest for the aforesaid loan was @7.50% p.a. with monthly rests. The Defendant also agreed

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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 facilities, the Defendant executed various loan documents in favour of the Applicant Bank. These included sanction letters, registered mortgage deed bearing daybook no. 1335 dated 27.03.2019, letter of

(OA No.346/2025)

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[AMBADAS]

undertaking, demand promissory note, letter of continuity & hypothecation agreements 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 Defendant No. 1 & 2 created first charge over their immovable property by executing registered mortgage deeds bearing daybook nos. 1335 & 460 dated 27.03.2019 & 29.01.2024 respectively in favour of the Applicant Bank. The mortgage was created in respect of the following properties-

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A) All that piece and parcel of Plot No. 6/A, admeasuring 350 sq. mtrs., (eastern portion), out of Gat No. 378, situated at Village Songir, Tq. and Dist. Dhule, which is bounded as under: East: Plot No. 25 & 18,

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West: Road, South: Plot No. 7, North: Plot No. 5.

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B) All that piece and parcel of MIDC Plot No. 24 admeasuring 2000 sq. mtrs., along with construction thereon situated at Village Babhale, Tq. Sindkheda, Dist. Dhule in Nardana Industrial Area, Dhule, which is bounded as under: East: Plot No. F-46, West: MIDC Road, South: MIDC Road,

(OA No.346/2025)

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[AMBADAS]

North: Plot No. F-25.

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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 on 11.04.2023. Therefore, on 18.03.2025 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.

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The defendants failed to appear in matter though they were served through RPAD. Hence, the defendants were proceeded exparte as per Order dated 22.01.2026.

(OA No.346/2025)

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[AMBADAS]

The applicant Bank has filed Claim Affidavit of evidence at Exhibit-4 of Manoj Bhagwat Chavhan, Branch Manager of the applicant Bank, and has produced on record the original loan transaction documents as Exhibit A-1 to A-22 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 charge over immovable properties of the borrowers which are mortgaged in favour of the applicant bank.

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The applicant Bank has claimed future interest @12.50% p. a. from the date of filing i.e. 29.05.2025 of this application till

(OA No.346/2025)

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[AMBADAS]

realization of the claim amount. However, considering the facts of the case, I am of the opinion that if future interest is granted @ 9% per annum (simple), on outstanding amount it would be just and reasonable rate of interest.

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ORDER

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(A) Original Application No. 346/2025 is allowed with costs.

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(B) The defendants shall pay jointly and severally to the applicant Bank a sum of Rs. 35,88,108.43/- (Rupees Thirty Five Lacs, Eighty Eight Thousand, One Hundred Eight and Forty Three Paisa only), along with future interest @ 9% per annum (simple) from the date of filing of the O.A. i.e. 29.05.2025 till full payment/realization of the amount mentioned in this operative order.

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(C) The aforesaid adjudicated amount is secured by the mortgage of the following immovable property bearing vide documents at Exh. A-5 & A-16 in list of documents Exh. 5.

(OA No.346/2025)

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[AMBADAS]

All that piece and parcel of Plot No. 6/A, admeasuring 350 sq. mtrs., (eastern portion), out of Gat No. 378, situated at Village Songir, Tq. and Dist. Dhule, which is bounded as under: East: Plot No. 25 & 18, West: Road, South: Plot No. 7, North: Plot No. 5.

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B) All that piece and parcel of MIDC Plot No. 24 admeasuring 2000 sq. mtrs., along with construction thereon situated at Village Babhale, Tq. Sindkheda, Dist. Dhule in Nardana Industrial Area, Dhule, which is bounded as under: East: Plot No. F-46, West: MIDC Road, South: MIDC Road, North: Plot No. F-25.

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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.346/2025)

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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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Pronounced in open court. Place: Aurangabad Date:.27.03.2026

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

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(OA No.346/2025)

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Page 10 of 10

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[AMBADAS]

Union Bank of India v. Mr. Chandrashekhar Bhimrao Walanjunwani

Case brief

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Union Bank of India v. Mr. Chandrashekhar Bhimrao Walanjunwani

Case brief

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