Allowed

Union Bank of India v. Mr. Anas Bashir Shaikh

DRT4 May 2026OA/530/2025

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed an application filed by Union Bank of India to recover outstanding dues. The court directed the defendant to pay the principal amount of Rs. 52,45,323.98 plus future interest at 8% per annum, secured by mortgaged properties.

What did the court decide?

Defendant to pay Rs. 52,45,323.98 with future interest at 8% p.a.; security enforced via sale of mortgaged properties; Recovery Certificate issued.

Union Bank of India versus Mr. Anas Bashir Shaikh — Banking and Recovery | DRT (2026)

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Presented on: 07.07.2025 Registered on: 13.08.2025 Decided on: 04.05.2026 Duration: Y M D 00 09 27

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IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 530/2025

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TOTAL CLAIM AMOUNT – Rs. 52,45,323.98/-

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Union Bank of India,

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A body corporate constituted under the Banking companies (Acquisition & Transfer of Undertakings) Act, 1970 having it’s Registered Office at 239, Vidhan Bhavan Marg, Nariman Point, Mumbai-400021 & having branches amongst the other places at Cross Road, Solapur and having it’s Asset Recovery Branch (ARB), at Plot No. 3, 1^st Floor, Sahakar colony, Shahnoorwadi, Chh. Sambhajinagar, through its Power of Attorney, Mr. Ram Shankarrao Mhaske (Chief Manager), Age: 42 yrs., Occ.: Service, R/o. Plot No. 3, 1^st Floor, Sahakar Colony, Shahnoorwadi, Chh. Sambhajinagar 431005.

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… Applicant

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Versus

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Mr. Anas Bashir Shaikh, Age: Major, Occ.: Service, R/o.: At 145 K/1, Railway Line, Near Taj Hotel, North Solapur, Dist. Solapur 413001.

…Defendant.

(OA No.530/2025)

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[AMBADAS]

APPEARANCES

For the Applicant Mr. K.D. Pande -Advocate For Defendant Ex-parte

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JUDGMENT

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Delivered on 04.05.2026

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The Applicant Bank has filed the present application for the recovery of a sum of Rs. 52,45,323.98/- (Rupees Fifty Two Lacs, Forty Five Thousand, Three Hundred Twenty Three and Ninety Eight Paisa only), along with further interest from the date of filing of the Original Application, i.e., 07.07.2025, until the date of realization of the entire outstanding dues from the Defendant.

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Brief facts of the application are as under:

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The Applicant Bank states that the Defendant had approached and requested the Applicant Bank for Housing loan facility. Upon considering the request and financial needs of the Defendant, the Applicant Bank sanctioned Housing loan facility of Rs. 25,00,000/- vide sanction letter dated 30.07.2022 on certain terms and conditions. The agreed rate of interest for aforesaid

(OA No.530/2025)

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[AMBADAS]

loan facility was @ 7.50% per annum with monthly rests. The Defendant also agreed to pay additional interest @2% by way of

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liquidated damages in the event of any default in repayment.

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In order to secure the aforesaid loan facilities, the Defendant executed various loan documents in favour of the Applicant Bank, including the sanction letter, demand promissory note, equitable mortgage by deposit of registered sale deed bearing daybook no. 4264 dated 08.08.2022. etc., in favour of the Applicant Bank.

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The Applicant Bank further contends that, in order to secure the Loan sanctioned to them, the Defendant deposited registered sale deeds bearing daybook nos. 4264 & 4265 dated 08.08.2022, in favour of the Applicant Bank. The mortgage was created in respect of the following properties –

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i) All that piece and parcel of property bearing Flat No. 501, admeasuring carpet area 52.15 sq.mtrs., balcony area 3.86 sq.mtrs., common area 19.39 sq.mtrs., on 05^th Floor in “Imperial Tower” constructed on Plot No. 14 out of Old Survey No. 270/6/2 its New Survey No. 54/6/2 known as Samrat Nagar, situated at Majrewadi, Tq. North Solapur, Dist. Solapur, which is bounded as under:

(OA No.530/2025)

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[AMBADAS]

East :- Passage & Flat No. 502, West :- Open to Sky, South:- Open to Sky, North: - Open to Sky.

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ii) All that piece and parcel of property bearing Flat No. 502, admeasuring carpet area 52.15 sq.mtrs., balcony area 3.86 sq.mtrs., common area 19.39 sq.mtrs., on 05^th Floor in “Imperial Tower” constructed on Plot No. 14 out of Old Survey No. 270/6/2 its New Survey No. 54/6/2 known as Samrat Nagar, situated at Majrewadi, Tq. North Solapur, Dist. Solapur, which is bounded as under: East :- Open to Sky, West :- Passage & Flat No. 501, South:- Open to Sky, North: - Open to Sky.

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The applicant bank contended that the defendant has failed to keep his promise and commitments agreed by him with regard to due repayment of the loan amount. The defendant 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 defendant to pay with the agreed rate of interest thereon, but the defendant failed and neglected to pay the same. The loan account of the defendant became irregular and

(OA No.530/2025)

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[AMBADAS]

classified as NPA on 04.11.2024. Therefore, on 02.07.2025 the applicant bank issued legal Notice to the defendant. The defendant failed and neglected to repay the outstanding dues of the applicant Bank. Hence, this application is filed.

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The defendant failed to appear in matter though he was served through summons. Hence, the defendant was proceeded ex-parte as per Order dated 05.01.2026.

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The applicant Bank has filed Claim Affidavit of evidence at Exhibit-4 of Mr. Ram Shankarrao Mhaske, Chief Manager of the applicant Bank, and has produced on record the original loan transaction documents as Exh. A-1 to A-23 along with list of documentsExh.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 defendant failed to appear and to file the written statement and did not contest the application, I find no reason to

(OA No.530/2025)

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[AMBADAS]

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 borrower which are mortgaged in favour of the applicant bank.

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The applicant Bank has claimed future interest @ 9.70% p.a. from the date of filing i.e. 07.07.2025 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 @ 8% per annum (simple), it would be just and reasonable rate of interest.

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ORDER

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(A) Original Application No. 530/2025 is allowed with costs.

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(B) The defendant shall pay to the applicant Bank a sum of Rs. 52,45,323.98/- (Rupees Fifty Two Lacs, Forty Five Thousand, Three Hundred Twenty Three and Ninety Eight Paisa only), along with future interest @ 8% per

(OA No.530/2025)

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[AMBADAS]

annum (simple) from the date of filing of the Original Application i.e. 07.07.2025 till full payment/realization

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of the amount mentioned in this operative order.

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mortgage of the following immovable properties vide documents at Exh. A-9 to A-12 & A-15 to A-18 in list of

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documents Exh. 5.

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i) All that piece and parcel of property bearing Flat No. 501, admeasuring carpet area 52.15 sq.mtrs., balcony area 3.86 sq.mtrs., common area 19.39 sq.mtrs., on 05^th Floor in “Imperial Tower” constructed on Plot No. 14 out of Old Survey No. 270/6/2 its New Survey No. 54/6/2 known as Samrat Nagar, situated at Majrewadi, Tq. North Solapur, Dist. Solapur, which is bounded as under: East :- Passage & Flat No. 502, West :- Open to Sky, South:- Open to Sky, North: - Open to Sky.

(OA No.530/2025)

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[AMBADAS]

East :- Open to Sky, West :- Passage & Flat No. 501, South:- Open to Sky, North: - Open to Sky.

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(D) The applicant Bank is entitled to sell the mortgaged immovable properties and hypothecated articles/goods

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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 defendant.

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(G) File be consigned to the record room.

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Sd/Pronounced in open court. (Dr. J. R. Chauhan) Place: Aurangabad Presiding Officer Date:.04.05.2026 Debts Recovery Tribunal, Aurangabad

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(OA No.530/2025)

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[AMBADAS]

Union Bank of India v. Mr. Anas Bashir Shaikh

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Union Bank of India v. Mr. Anas Bashir Shaikh

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