Defendant failed to repay an agricultural term loan sanctioned by the applicant bank. The defendant appeared ex-parte. The court allowed the recovery application, adjusted future interest to 9% p.a., and directed sale of mortgaged property.
Recovered sum of Rs. 22,62,041 with future interest at 9% per annum simple and execution of sale of mortgaged property.
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: 17.02.2024 Registered on: 27.06.2024 Decided on: 17.02.2026 Duration: Y M D 02 00 00
IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 477/2024
TOTAL CLAIM AMOUNT – Rs. 22,62,041/Punjab National Bank, A Body Corporate constituted under the Banking companies (Acquisition and Transfer of Undertakings) Act 1970 & having it’s Head Office at Plot No. 4, Sector-10,
Dwarka, New Delhi-110075, and one of its Branch at
Ghogargaon, Taluka Shrigonda, District Ahmednagar, … Applicant
through Attorney Rahul N. Potphode .
Versus
Devidas Baban Wable
Age: Major, Occ.: Agriculture, R/o.: House No. 91, Gaothan Banpimpri, Tal. Shrigonda, Dist. Ahmednagar 414401.
…Defendant
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APPEARANCES
For the Applicant For Defendant
Mr. Sameer J. Pande -Advocate Ex-parte
JUDGMENT
Delivered on 17.02.2026
until the date of realization of the entire outstanding dues from the Defendant.
Brief facts of the application are as under:
vide sanction letter dated 01.07.2015 on certain terms and
conditions. The agreed rate of interest for the aforesaid loan was
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@ 15% p.a. with half yearly rests. The Defendant also agreed to pay additional interest @2% by way of liquidated damages in the event of any default in repayment.
The mortgage was created in respect of the following property:
All that piece and parcel of agricultural land admeasuring 0.88 H R, out of Gut No. 136, of village Banpimrpi, Tq. Shrigonda, Dist. Ahmednagar which is bounded as under:
East: Remaining land of Gut No. 136 West: Land of Gut No. 137 South: Land of Gut No. 153 North: Land of Gut No. 138 & 139.
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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 @ 9 % per
annum (simple), it would be just and reasonable rate of interest.
ORDER
All that piece and parcel of agricultural land admeasuring 0.88 H R, out of Gut No. 136, of village Banpimrpi, Tq. Shrigonda, Dist. Ahmednagar which is bounded as under:
East: Remaining land of Gut No. 136
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West: Land of Gut No. 137 South: Land of Gut No. 153 North: Land of Gut No. 138 & 139.
(D) The applicant Bank is entitled to sell the mortgaged immovable property and hypothecated articles/goods
etc., to recover its dues.
(E) Issue Recovery Certificate accordingly.
(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:.17.02.2026 Debts Recovery Tribunal, Aurangabad
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3 issues framed by the court
Whether to allow the application for recovery of the loan amount along with future interest?
Whether to grant future interest at the claimed rate or a reduced rate?
Whether to enforce the security interest created over the mortgage property?
Punjab National Bank
Devidas Baban Wable
Dr. J. R. Chauhan
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
