Allowed

Axis Bank v. Raju alias Mr. Rajendra Ramdas Patare

DRT17 Jul 2026OA/402/2024

Case brief

AI extract

What is this about?

In an ex-parte recovery application for an agricultural term loan, the debtor failed to appear. The tribunal allowed the application and ordered repayment of the principal amount plus future interest at 7% per annum, secured by mortgaged properties.

What did the court decide?

Defendants shall jointly and severally pay Rs. 36,56,169.37 with future interest at 7% p.a. from filing date; recovery via sale of mortgaged properties.

Axis Bank versus Raju alias Mr. Rajendra Ramdas… — Contract and Commercial Disputes | DRT (2026)

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Presented on: 22.12.2023 Registered on: 04.06.2024 Decided on: 17.07.2026 Duration: Y M D 02 06 25

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IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Shri Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 402/2024

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TOTAL CLAIM AMOUNT – Rs. 36,56,169.37/-

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AXIS BANK LTD.,

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A Body Corporate, constituted and established under the Companies Act 1956, and having its Registered Office at “Trishul” 3^rd Floor, Opp. Samartheshwar Temple, Law Garden, Ellis Bridge, Ahmedabad, and its Agri Business Division at “Shrivastava”, 65, Sarang Housing Society, Near Gajanan Maharaj Mandir, Garkheda, Aurangabad- 431005. Through its Authorised Representative Sharad Madhukarrao Rudre, Age: 45 Years, Occupation: Service, having his address for communication at c/o Axis Bank Ltd., “Shrivastava”, 65, Sarang Housing Society, Near Gajanan Maharaj Mandir, Garkheda, Aurangabad- 431005.

… Applicant

Versus

(OA No. 402-2024)

Page 1 of 11

[Ambadas]

Raju alias Mr. Rajendra Ramdas Patare, Age: 40 Years, Occu: Agriculturist, R/o: Village Vakti, Post Akoliwadgaon,

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… Defendants

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Tal. Vaijapur, Dist. Aurangabad- 423701.

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Ramdas Sopanrav Patare,

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Age: 74 years, Occu: Agriculturist,

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R/o: Village Vakti, Post Akoliwadgaon,

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Tal. Vaijapur, Dist. Aurangabad- 423701.

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Sumanbai Ramdas Patare,

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Age: 69 years, Occu: Agriculturist,

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R/o: Village Vakti, Post Akoliwadgaon,

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Tal. Vaijapur, Dist. Aurangabad- 423701.

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APPEARANCES

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For the Applicant Mr. Dabholkar Mandar M- Adv. For Defendants Ex-parte

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J U D G M E N T Delivered on (17.07.2026)

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The Applicant Bank has filed the present application for recovery of the sum of Rs. 36,56,169.37/- (Rs. Thirty-Six Lakhs,

(OA No. 402-2024)

Page 2 of 11

[Ambadas]

Fifty-Six Thousand, One Hundred Sixty-Nine and Thirty-Seven Paisa Only) together with future interest with monthly rests upon Agricultural Term Loan from 22.12.2023 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 requested for the sanction of a Agricultural Term Loan and Agricultural Cash Credit facility. Upon considering the Defendant’s representations, request, and financial needs, the Applicant Bank sanctioned the Farm Development Loan of Rs. 15,00,000/- for Pipeline, Well, Drip Irrigation, and for Purchase of Electric Motor vide sanction letter dated 26.11.2015, and the Agricultural Production Credit (Agricultural Cash Credit) of Rs. 6,75,000/- to meet annual cropping expenses vide sanction letter dated 26.11.2015 on certain terms & conditions.

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The agreed rate of interest for the Farm Development Loan was @12.30% p.a. with monthly rests and for the Agricultural Production Credit Loan it was @11.80% p.a. with monthly rests.

(OA No. 402-2024)

Page 3 of 11

[Ambadas]

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

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The Applicant Bank contended that, in order to secure the said credit facilities, the Defendants executed a Simple Mortgaged Deed registered at the office of the Sub Registrar at Vaijapur at Day Book Sr. No. 4854 dated 02.12.2015 of the following properties in favour of the Applicant Bank:-

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1. All the piece and parcels of land admeasuring

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area 54 R, in Gut No. 80, situated at village Vakti, Tal. Vaijapur, Dist. Aurangabad, Standing in the name of Raju alias Rajendra Ramdas Patare and bounded as under: East :- Sainath Patare, West :- Baburao Patare, South :- Ramdas,

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North : - Ashok Patare.

(OA No. 402-2024)

Page 4 of 11

[Ambadas]

1. All the piece and parcels of land admeasuring

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Area 1 H 46 R, in Gut No. 76, situated at village Vakti, Tal. Vaijapur, Dist. Aurangabad, Standing in the name of Raju alias Rajendra Ramdas Patare and bounded as under:

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East :- Baburao Patare, West :- Sukhdev Patare, South :- Ashok Patare, North : - Sarkari Rasta.

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All the piece and parcels of land admeasuring

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Area 1 H 49 R, in Gut No. 80, situated at village Vakti, Tal. Vaijapur, Dist. Aurangabad, Standing in the name Ramdas Sopan Patare and bounded as under:

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East :- Sainath Patare, West :- Baburao Patare, South :- Ramdas, North : - Ashok Patare.

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All the piece and parcels of land admeasuring Area 51 R, in Gut No. 88, situated at village Vakti,

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Tal. Vaijapur, Dist. Aurangabad, Standing in the name Ramdas Sopan Patare and bounded as under:

(OA No. 402-2024)

Page 5 of 11

[Ambadas]

East :- Gayakwad, West :- Sarkari Rasta, South :- Devidas Patare, North : - Soma Jadhav.

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All the piece and parcels of land admeasuring

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Area 2 H, in Gut No. 88, situated at village Vakti,

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Tal. Vaijapur, Dist. Aurangabad, Standing in the name Sumanbai Ramdas Patare.

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The Applicant Bank further contended that the Defendants failed 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 06.08.2022, the Applicant Bank issued legal notice to the

(OA No. 402-2024)

Page 6 of 11

[Ambadas]

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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Despite Service, the Defendants neither appeared nor filed WS. Hence, they proceeded ex-parte vide Order dated 16.12.2025.

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The Applicant Bank has filed Claim Affidavit of evidence at Exhibit-4 of Mr. Sharad Madhukarrao Rudre, Officer of the Applicant Bank and has produced on record the original loan transaction documents as Exh. A-1 to A-13 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 file written statement and did not 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. 402-2024)

Page 7 of 11

[Ambadas]

The Applicant Bank has claimed future interest at @12.30% p.a. and @11.80% p.a. with monthly rests on the loans from 22.12.2023 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) on outstanding amount, it would be just and reasonable.

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Hence, I pass the following order.

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ORDER

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(A) Original Application No. 402/2024 is allowed with costs.

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(B) The Defendants shall pay Jointly and Severally to the Applicant Bank a sum of Rs. 36,56,169.37/- (Rs. ThirtySix Lakhs, Fifty-Six Thousand, One Hundred Sixty-Nine and Thirty-Seven Paisa Only) along-with future interest at @7% per annum (simple) from the date of filing of the Original Application, i.e., 22.12.2023, till full payment/ realization of the said amount.

(OA No. 402-2024)

Page 8 of 11

[Ambadas]

(C) The aforesaid adjudicated amount is secured by mortgage of immovable properties in favour of the Applicant Bank vide documents as Exh. A-06 in list of documents Exh.5. The mortgaged properties are described as follows:-

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All the piece and parcels of land admeasuring area 54 R, in Gut No. 80, situated at village Vakti, Tal. Vaijapur, Dist. Aurangabad, Standing in the name of Raju alias Rajendra Ramdas Patare and bounded as under: East :- Sainath Patare, West :- Baburao Patare, South :- Ramdas, North : - Ashok Patare. 2) All the piece and parcels of land admeasuring area 1 H 46 R, in Gut No. 76, situated at village Vakti, Tal. Vaijapur, Dist. Aurangabad, Standing in the name of Raju alias Rajendra Ramdas Patare and bounded as under:

(OA No. 402-2024)

Page 9 of 11

[Ambadas]

East :- Baburao Patare, West :- Sukhdev Patare, South :- Ashok Patare, North : - Sarkari Rasta.

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All the piece and parcels of land admeasuring

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area 1 H 49 R, in Gut No. 80, situated at village Vakti, Tal. Vaijapur, Dist. Aurangabad, Standing

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in the name of Ramdas Sopan Patare and bounded

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as under:

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East :- Sainath Patare,

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West :- Baburao Patare,

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South :- Ramdas,

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North : - Ashok Patare.

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All the piece and parcels of land admeasuring

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Area 51 R, in Gut No. 88, situated at village Vakti, Tal. Vaijapur, Dist. Aurangabad, Standing in the

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Name of Ramdas Sopan Patare and bounded

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as under:

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East :- Gayakwad, West :- Sarkari Rasta, South :- Devidas Patare,

(OA No. 402-2024)

Page 10 of 11

[Ambadas]

North : - Soma Jadhav.

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All the piece and parcels of land admeasuring

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Area 2 H, in Gut No. 88, situated at village Vakti, Tal. Vaijapur, Dist. Aurangabad, Standing in the name of Sumanbai Ramdas Patare.

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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.

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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 : 17.07.2026 Debts Recovery Tribunal, Aurangabad

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(OA No. 402-2024)

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Page 11 of 11

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[Ambadas]

Axis Bank v. Raju alias Mr. Rajendra Ramdas Patare

Case brief

What is this about?

What did the court decide?

Axis Bank v. Raju alias Mr. Rajendra Ramdas Patare

Case brief

What is this about?

What did the court decide?

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