Allowed

Maharastra Gramin Bank v. Smt.Yamunabai W/o Baban Sarode

DRT13 Jan 2026OA/478/2024

Case brief

AI extract

What is this about?

This is an ex-parte application for recovery of a loan of Rs. 29,65,095 along with future interest. The Tribunal found in favor of the bank as the defendants failed to appear and rebut the evidence of default in loan repayment and failed to operate the loan account. The bank was granted the claimed amount secured by the mortgage of the immovable properties with future interest at a reduced rate of 9% per annum..

What did the court decide?

Defendants to pay Rs. 29,65,095 with future interest @ 9% p.a. from 20.02.2024; charge secured by mortgage of three immovable properties; entitlement to sell properties to recover dues; Issue Recovery Certificate.

Maharastra Gramin Bank versus Smt.Yamunabai W/o Baban Sarode — Banking and Recovery | DRT (2026)

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Presented on: 20.02.2024 Registered on: 28.06.2024 Decided on: 13.01.2026 Duration: Y M D 01 10 23

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IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 478/2024

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TOTAL CLAIM AMOUNT – Rs. 29,65,095/Maharashtra Gramin Bank , A Scheduled Commercial Bank Constituted under Section 3 of the Regional Rural Bank Act, 1976 and also a Banking Company under Section 5 © of the Banking Regulation Act, 1949 (10 of 1949) having its Head Office at Plot No. 42, Gat No. 33, Golwadi, Growth Centre, Waluj Mahanagar-IV, CIDCO, Aurangabad and having its Branch at Chittepimpalgaon, Tq. and Dist. Aurangabad through its Branch Manager and Principal Officer Shri. … Applicant Rajeshkumar S/o. Anilkumar Dhoot.

Versus

(OA No 478/2024)

Page 1 of 9

[AMBADAS]

01. Smt. Yamunabai W/o. Baban Sarode Firm: At Sanjkheda, Post Pimpri Raja, Tq. and Dist. Aurangabad-431007. Residence:

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House No. 1-11-303, Kutubpura, Water Tank, University Gate, Aurangabad-431002.

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02 Shri. Bansilal S/o. Sundarlal Tambe H. No. 5-12-06, Jaybhim Nagar, Ghati, Aurangabad-431001.

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03. Shri. Baban S/o. Laxman Sarode House No. 1-11-303, Kutubpura, Water Tank, University Gate, Aurangabad-431002.

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…Defendants

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APPEARANCES

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For the Applicant For Defendants

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Mr. J. R. Kalyankar -Advocate Ex-parte

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JUDGMENT

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Delivered on 13.01.2026

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The Applicant Bank has filed the present application for the recovery of a sum of Rs. 29,65,095/- (Rupees Twenty Nine Lacs, Sixty Five Thousand, Ninety Five only), along with future interest from the date of filing of the Original Application, i.e., 20.02.2024,

(OA No 478/2024)

Page 2 of 9

[AMBADAS]

until the date of realization of the entire outstanding dues from the Defendants.

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Brief facts of the application are as under:

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The Applicant Bank states that the Defendant No. 1 had approached and requested the Applicant Bank for Term Loan Facility & Cash Credit Facility. Upon considering the request and financial needs of the Defendant, the Applicant Bank sanctioned Term Loan Facility of Rs. 14,99,000/- vide sanction letter dated 21.09.2018 & Cash Credit Facility of Rs. 9,50,000/- vide sanction letter dated 21.09.2018 on certain terms and conditions. The agreed rate of interest for the aforesaid loan facilities was @ 12.45% p.a. with monthly rests. The Defendants also agreed to pay additional interest 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 Defendants executed various loan documents in favour of the Applicant Bank.

(OA No 478/2024)

Page 3 of 9

[AMBADAS]

These included sanction letters, demand promissory notes,

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composite deeds of simple mortgage, request letter, simple mortgage deeds dated 11.10.2018., Additionally defendant No. 2

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& 3 stood as guarantors for defendant No. 1 and executed deed of

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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 Defendants created first charge over the immovable property by executing simple mortgage deeds dated 11.10.2018. The mortgage was created in respect of the following properties:

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i) All that piece and parcel of House No. 5-7-13, CTS No. 386 at Kutubpurta, University Gate, Aurangabad, admeasuring 116.8 Sq. Mt., which is bounded as under:

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North: Land of Marathwada University, East: 10 ft. Wide Road, West: House of Sonawane, South: House of Pasha Jagirdar and Kalawatbai.

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ii) All that piece and parcel of Gat No. 187 admeasuring 0.80 Hectare, situated at Sanjkheda, Tq. And Dist. Aurangabad. which is bounded as under:

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East: Shri Rambhau Sarode,

(OA No 478/2024)

Page 4 of 9

[AMBADAS]

West: Dhondiba Jagannath, North: Road, South: Dhondiba Jagannath.

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iii) All that piece and parcel of Gat No. 210 admeasuring 1.01 Hectare, situated at Sanjkheda, Tq. And Dist. Aurangabad. which is bounded as under:

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East: Smt. Saraswatibai Eknath, West: Shri. Eknath Limbaji, North: Road, South: Canal / Chari.

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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 04.01.2023. Therefore on

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10.11.2023 the applicant bank issued legal notice to the

(OA No 478/2024)

Page 5 of 9

[AMBADAS]

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 defendant No. 1 and 4 have been served by hand, defendant No. 2 was served by pasting on wall and defendant No. 3 was served by RPAD. Hence, the defendants were proceeded ex-parte as per Order dated 15.02.2025.

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The applicant Bank has filed Claim Affidavit of evidence at Exhibit-4 of Shri. Rajeshkumar S/o. Anilkumar Dhoot, Branch Manager of the applicant Bank, and has produced on record the original loan transaction documents as Annexure A-1 to A-36 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.

(OA No 478/2024)

Page 6 of 9

[AMBADAS]

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 @ 12.45 % p.a. from the date of filing i.e. 20.02.2024 of this application till 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. 478/2024 is allowed with costs.

(OA No 478/2024)

Page 7 of 9

[AMBADAS]

(B) The defendants shall pay jointly and severally to the applicant Bank a sum of Rs. 29,65,095/- (Rupees Twenty Nine Lacs, Sixty Five Thousand, Ninety Five only), along with future interest @9 % per annum (simple) from the date of filing of the Original Application i.e. 20.02.2024 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 properties vide documents at Annexure A-28 in list of documents Exh. 5.

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i) All that piece and parcel of House No. 5-7-13, CTS No. 386 at Kutubpurta, University Gate, Aurangabad, admeasuring 116.8 Sq. Mt., which is bounded as under: North: Land of Marathwada University, East: 10 ft. Wide Road, West: House of Sonawane, South: House of Pasha Jagirdar and Kalawatbai.

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ii) All that piece and parcel of Gat No. 187 admeasuring 0.80 Hectare, situated at Sanjkheda, Tq. And Dist. Aurangabad. which is bounded as under:

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East: Shri Rambhau Sarode, West: Dhondiba Jagannath, North: Road,

(OA No 478/2024)

Page 8 of 9

[AMBADAS]

South: Dhondiba Jagannath.

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iii) All that piece and parcel of Gat No. 210 admeasuring 1.01 Hectare, situated at Sanjkheda, Tq. And Dist. Aurangabad. which is bounded as under:

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East: Smt. Saraswatibai Eknath, West: Shri. Eknath Limbaji, North: Road, South: Canal / Chari.

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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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Pronounced in open court. (Dr. J. R. Chauhan) Place: Aurangabad Presiding Officer Date:. 13.01.2026 Debts Recovery Tribunal, Aurangabad

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(OA No 478/2024)

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Page 9 of 9

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[AMBADAS]

Maharastra Gramin Bank v. Smt.Yamunabai W/o Baban Sarode

Case brief

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Maharastra Gramin Bank v. Smt.Yamunabai W/o Baban Sarode

Case brief

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