Allowed

Idbi Bank v. Mr. Vishnu Babu Mote

DRT2 Feb 2026OA/469/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the bank's application ex-parte against absent defendants. The court adjudicated the principal sum of Rs. 24,58,305/- and granted future interest on favorable terms, with mortgage properties attached as security for the dues.

What did the court decide?

Granted recovery of Rs. 24,58,305/- with future interest @ 7% p.a. and attached mortgage properties as security.

Idbi Bank versus Mr. Vishnu Babu Mote — Banking and Recovery | DRT (2026)

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Presented on: 17.01.2024 Registered on: 26.06.2024 Decided on: 02.02.2026 Duration: Y M D 02 00 16

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IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD

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(Before Shri Dr. J. R. Chauhan Presiding Officer)

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ORIGINAL APPLICATION No. 469/2024

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TOTAL CLAIM AMOUNT – Rs. 24,58,305/-

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IDBI BANK LTD., A banking company incorporated and registered under the Companies Act, 1956 (1 of 1956) and also a banking company under Section 5(c) of the Banking Regulation Act, 1949 (10 of 1949) having its registered office at IDBI Tower, WTC Complex, Cuffe Parade, Mumbai, Maharashtra- 400005 and amongst other places one of its Shrigonda Branch, Varsha Building, Daund- Jamkhed Road,

… Applicant

(OA No.469-2024)

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[Ambadas]

Shrigonda, Tq. Shrigonda, Dist. Ahmednagar413701 Maharashtra, through its Authorized Signatory (AGM Recovery)- Shri. Vijaykumar S/o. Tukaram Nichit. Mob. No: 9096338787. Email: [email protected].

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Versus

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Mr. Vishnu S/o. Babu Mote, … Defendants Age: Major, Occ: Agri, R/o: 488, At. Post. Pargaon Sudrik, Tq. Shrigonda, Dist. Ahmednagar, Maharashtra, PIN- 413702. And also Gut No. 222, at Pargaon Sudrik, Tq. Shrigonda, Dist. Ahmednagar- 413702.

(OA No.469-2024)

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[Ambadas]

And also Gut No. 305, At Pargaon Sudrik, Tq. Shrigonda, Dist. Ahmednagar- 413702. UID No. - 861222743910. Voter ID No. :- MT/39/228/366013. 2. Mrs. Manisha Balasaheb Mote, Age: Major, Occ: Agri, R/o: 489, Motewadi, At Post. Pargaon Sudrik, Tq. Shrigonda, Dist. Ahmednagar,

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Maharashtra, PIN 413702.

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And also; Gut No. 310, At Pargaon Sudrik, Tq. Shrigonda, Dist. Ahmednagar- 413702. UID No. - 875479391793.

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Voter ID No. :- BTB2341147.

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Mr. Balasaheb S/o. Vishnu Mote,

(OA No.469-2024)

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[Ambadas]

Age: Major, Occ: Agri, R/o: 448, Motewadi, At Post. Pargaon Sudrik, Tq. Shrigonda, Dist. Ahmednagar,

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Maharashtra, PIN 413702.

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UDI No: 207800145853. Voter ID: MT/39/228/0366334. 4. Mr. Gorakh S/o. Dinkar Pote,

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Age: Major, Occ: Agri, R/o: 211212, Register Mala, At Potemala,

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Pargaon Road, Shrigonda, Tq. Shrigonda,

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Dist. Ahmednagar- 413702,

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Voter ID No. :- SNB0679899.

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Mr. Nana Maruti Mote,

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Age: Major, Occ: Agri,

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R/o: 448, Motewadi, At Post. Pargaon

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Sudrik, Tq. Shrigonda, Dist. Ahmednagar-

(OA No.469-2024)

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[Ambadas]

Voter ID No. :- MT/39/228/366345.

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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 Delivered on (02.02.2026)

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The Applicant Bank has filed the present application for recovery of the sum of Rs. 24,58,305/- (Rs. Twenty-Four Lakhs, Fifty-Eight Thousand, Three Hundred and Five Only) together with future interest @12.00% p.a. in respect of Term Loan facility and @7% p.a. with monthly rests upon Crop Loan from 25.10.2023 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 Defendant Nos.1 to 3 approached the Applicant Bank and requested for the sanction of a Crop Loan & Term Loan

(OA No.469-2024)

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[Ambadas]

facility. Upon considering the Defendant’s representation, request, and financial needs, the Applicant Bank sanctioned to Defendants No. 1 & 2, the Crop Loan facility of Rs. 3,00,000/- and the Term Loan facility of Rs. 8,50,000/- vide two separate sanction letter dated 18.01.2016 on certain terms & conditions.

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The agreed rate of interest for the Crop Loan Facility was @7% per annum & for the Term Loan facility was @12.00% p.a. 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.

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The Applicant Bank contended that the Defendant Nos. 4 & 5 stood as guarantors for the said both credit facilities. The Defendants executed a Registered Mortgaged Deed bearing day book No. SGD- 351/2016 dated 27.01.2016 executed by

(OA No.469-2024)

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[Ambadas]

Defendant Nos. 1 to 3 of the following properties in favour of the

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Applicant Bank:-

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1. All the piece and parcels of immovable property i.e. of land in

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Gut No. 222, Admeasuring area 52 R + Potkharab 02 R,

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Situated at Pargaon Sudrik, Tq. Shrigonda, Dist. Ahmednagar,

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Standing in the name of Defendant No. 1,

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(Mr. Vishnu Babu Mote).

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1. All the piece and parcels of immovable property i.e. of land in

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Gut No. 305, Admeasuring area 1 H 69 R + Potkharab 07 R,

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Situated at Pargaon Sudrik, Tq. Shrigonda, Dist. Ahmednagar,

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Standing in the name of Defendant No. 1,

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(Mr. Vishnu Babu Mote).

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1. All the piece and parcels of immovable property i.e. of land in

(OA No.469-2024)

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[Ambadas]

Gut No. 310, Admeasuring area 38 R, Situated at Pargaon

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Sudrik, Tq. Shrigonda, Dist. Ahmednagar, Standing in the

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Name of Defendant No. 2, (Mrs. Manisha Balasaheb Mote).

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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. The Defendants executed debt cum revival letter and revival letter dated 02.01.2019, 28.12.2021, in both Crop Loan & Term Loan facility. Therefore on 05.03.2019, 07.09.2019, 13.02.2020, 09.09.2020, 15.05.2021, 05.08.2021 & 22.03.2022, the Applicant Bank issued loan reminder notice to the Defendants through

(OA No.469-2024)

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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 of Summons, the Defendants neither appeared nor filed WS. Hence, they proceeded ex-parte vide Order dated 01.04.2025.

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The Applicant Bank has filed Claim Affidavit of evidence at Exhibit-4 of Mr. Vijaykumar Tukaram Nichit, AGM of the Applicant Bank and has produced on record the original loan transaction documents as Annex. A-1 to A-29 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

(OA No.469-2024)

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entitled for the reliefs as claimed.

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The Applicant Bank has claimed future interest at @12.00% per annum & @7% p.a. with monthly rests on CC and Corp Loans respectively from 25.10.2023 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. 469/2024 is allowed with costs.

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(B) The Defendants shall pay Jointly and Severally to the Applicant Bank a sum of Rs. 24,58,305/- (Rs. TwentyFour Lakhs, Fifty-Eight Thousand, Three Hundred and Five Only) along-with future interest at @7% per annum (simple) from the date of filing of the Original Application, i.e., 17.01.2024, till full payment/

(OA No.469-2024)

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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 documents as Annex. A-12 in list of documents Exh.5. The mortgaged properties is described as follows:-

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All the piece and parcels of immovable property i.e. of land in Gut No. 222, Admeasuring area 52 R + Potkharab 02 R, Situated at Pargaon Sudrik, Tq. Shrigonda, Dist. Ahmednagar, Standing in the Name of Defendant No. 1, (Mr. Vishnu Babu Mote). 2) All the piece and parcels of immovable property i.e. of land in Gut No. 305, Admeasuring area 1 H 69 R + Potkharab 07 R, Situated at Pargaon Sudrik,

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Tq. Shrigonda, Dist. Ahmednagar, Standing in the Name of Defendant No. 1, (Mr. Vishnu Babu Mote).

(OA No.469-2024)

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[Ambadas]

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

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of land in Gut No. 310, Admeasuring area 38 R,

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Situated at Pargaon Sudrik, Tq. Shrigonda,

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Dist. Ahmednagar, Standing in the Name of

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Defendant No. 2, (Mrs. Manisha Balasaheb Mote).

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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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(G)

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Sd/-

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Place : Aurangabad Date : 02.02.2026

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

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(OA No.469-2024)

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[Ambadas]

Idbi Bank v. Mr. Vishnu Babu Mote

Case brief

What is this about?

What did the court decide?

Idbi Bank v. Mr. Vishnu Babu Mote

Case brief

What is this about?

What did the court decide?

What the court decided

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