The Debts Recovery Tribunal allowed the bank's application to recover dues of Rs. 31,19,432 along with future interest at 7% p.a. The court upheld the bank's claim for security over mortgaged agricultural land.
Recovery of Rs. 31,19,432 with future interest at 7% p.a.; security via mortgage and power to sell mortgaged property; Issue of Recovery Certificate.
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: 01.09.2025 Registered on: 20.09.2025 Decided on: 01.07.2026 Duration: Y M D 00 10 00
IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 588/2025
TOTAL CLAIM AMOUNT – Rs. 31,19,432/-
Union Bank of India,
(Erstwhile “Corporation Bank”) A Body Corporate constituted under the Banking companies (Acquisition & Transfer of Undertakings) Act, 1970 having its Registered office at 239, Vidhan Bhavan Marg, Nariman Point, Mumbai-400021 & having branches amongst the other places at Sugaon Bk., Tq. Akole, Dist. Ahmednagar, through its POA, Mr. Vikram Vilasrao Jadhav (Branch Manager), Age: 36 yrs., Occ.: Service, R/o. Sugaon Bk., Tq. Akole, Dist. … Applicant Ahmednagar.
Versus
1. Mrs. Mira Bhima Holgir, Age: Major, Occ.: Agri., R/o.: At Post Lingdev, Tq. Akole, Dist. Ahmednagar 422610.
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2. Mr. Bhima Bain Holgir, Age: Major, Occ.: Agri., R/o.: At Post Lingdev, Tq. Akole, Dist. Ahmednagar 422610.
3. Mr. Navinath Vitthal Gunjal, Age: Major, Occ.: Agri., R/o.: At Post Lingdev, Tq. Akole, Dist. Ahmednagar 422610.
…Defendants
APPEARANCES
For the Applicant For Defendants
Mr. K.D. Pande -Advocate Ex-parte
JUDGMENT
Delivered on 01.07.2026
Brief facts of the application are as under:
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defendant No. 1 & 2 and executed deed of guarantee dated 05.02.2016 in favour of the Applicant Bank.
All that piece and parcel of agriculture land, admeasuring 2 H, out of Gat No. 148/1, situated at Village Lingdev, Tq. Akole Dist. Ahmednagar, which is bounded as under:
East: Gat No. 148/2, West: Gat No. 147, South: Road, North: Land of Nivrutti Krushna Pawar.
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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 31.12.2022. Therefore, on 08.08.2025 the applicant bank issued legal notice to the 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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ORDER
(B) The defendants shall pay jointly and severally to the applicant Bank a sum of Rs. 31,19,432/- (Rupees Thirty One Lacs, Nineteen Thousand, Four Hundred and Thirty Two only), along with future interest @ 7% per annum (simple) from the date of filing of the Original Application i.e. 01.09.2025 till full payment/realization of the amount mentioned in this operative order.
All that piece and parcel of agriculture land, admeasuring 2 H, out of Gat No. 148/1, situated at Village Lingdev, Tq. Akole Dist. Ahmednagar, which is bounded as under:
East: Gat No. 148/2, West: Gat No. 147, South: Road, North: Land of Nivrutti Krushna Pawar.
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(F) The Registrar is directed to send the copy of the Judgment and Recovery Certificate to the applicant and defendants.
(G) File be consigned to the record room.
Sd/-
Pronounced in open court. (Dr. J. R. Chauhan) Place: Aurangabad Presiding Officer Date:.01.07.2026 Debts Recovery Tribunal, Aurangabad
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2 issues framed by the court
Whether to allow the original application filed by the bank for recovery of the loan amount classified as NPA.
What rate of future interest would be just and reasonable in the absence of a contractual agreement on a specific default rate for this order.
2 provisions across 2 enactments
Union Bank of India
Mrs. Mira Bhima Holgir
Mr. Bhima Bain Holgir
Mr. Navinath Vitthal Gunjal
Dr. J. R. Chauhan
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
