The Debts Recovery Tribunal allowed the bank's application for recovery of Rs. 21,11,578 and future interest, permitting the sale of mortgaged properties. The court awarded reduced future interest at 7% simple per annum.
Recovery of Rs. 21,11,578 plus future interest at 7% per annum; authorization to sell mortgaged properties.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
Presented on: 07.07.2025 Registered on: 07.08.2025 Decided on: 17.06.2026 Duration: Y M D 00 11 10
IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 471/2025
TOTAL CLAIM AMOUNT – Rs. 21,11,578/-
Punjab National Bank,
A Body Corporate constituted under the Banking companies (Acquisition & Transfer of Undertakings) Act 1970, having its Head Office at Plot No. 4, Sector10, Dwarka, New Delhi-110075, and one of its Branch at Dalmandi, Sarjepura, Ahmednagar, through its Attorney Mr. Rahul Nathaji Potphode. … Applicant
Versus
Murlidhar Bhausaheb Bhogade, Age: 76 years, Occ.: Agriculture, R/o.: House No. 151, Loni Road, Sakat, Tal. Aashti, Dist. Beed.
…Defendant
APPEARANCES
For the Applicant For Defendant
Mr. Sameer J. Pande -Advocate Ex-parte
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JUDGMENT
Delivered on 17.06.2026
Brief facts of the application are as under:
The Applicant Bank states that the Defendant had approached and requested the Applicant Bank for Term Loan Facility. Upon considering the request and financial needs of the Defendant, the Applicant Bank Sanctioned Term Loan Facility of Rs. 18,30,000/as agriculture credit vide sanction letter dated 30.12.2014 on certain terms and conditions. The agreed rate of interest was @12.75% p.a. with monthly rest. The Defendant also agreed to
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pay additional interest @2% by way of liquidated damages in the event of any default in repayment.
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of the claim amount. However, considering the facts of the case, I am of the opinion that if future interest is granted @ 7% per
annum (simple), it would be just and reasonable rate of interest.
ORDER
i) All that piece and parcel of Agriculture land admeasuring 01.14 H.R., part of Gut No. 65/1 of village Sakat, Tal. Aashti, Dist. Beed.
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ii) All that piece and parcel of Agriculture land admeasuring 0.65 H.R., part of Gut No. 66/E of village Sakat, Tal. Aashti, Dist. Beed.
(D) The applicant Bank is entitled to sell the mortgaged immovable properties and hypothecated articles/goods etc., to recover its dues.
(F) The Registrar is directed to send the copy of the Judgment and Recovery Certificate to the applicant and defendant.
(G) File be consigned to the record room.
Sd/-
Pronounced in open court. (Dr. J. R. Chauhan) Place: Aurangabad Presiding Officer Date:.17.06.2026 Debts Recovery Tribunal, Aurangabad
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3 issues framed by the court
Whether the application for recovery of dues from a non-performing agricultural loan account sanctioned in 2014 is maintainable.
Whether the applicant is entitled to mortgagee's charge and future interest on a defaulted term loan where the borrower failed to appear.
Whether the mortgaged immovable properties can be sold to recover the outstanding dues.
1 provisions across 1 enactments
Punjab National Bank
Dr. J. R. Chauhan
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
