Dr. J. R. Chauhan allowed Bank of India's debt recovery application. The court directed respondents to pay the principal Rs. 36,25,715/- plus future interest at 7% per annum, secured by mortgaged land properties.
Direct payment of Rs. 36,25,715/- with future interest @ 7% p.a. and entitling the bank 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: 04.01.2023 Registered on: 07.10.2025 Decided on: 24.06.2026 Duration: Y M D 03 05 20
IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 606/2025
TOTAL CLAIM AMOUNT – Rs. 36,25,715/-
Bank of India ,
A Body Corporate constituted under the provisions of Banking Companies (Acquisition and Transfer of Undertakings) Act V of 1970, Having its Head Office at Star House, “C-5”, G-Block, Bandra Kurla Complex, Bandra (East), Mumbai and branch amongst other places at Post Bolthan, Tal. Nandgaon, Dist. Nashik, Through its Chief Manager and Power of Attorney Holder, Chandrakant s/o. Keshav Parate, Age: 57 years, Occ.: Service as Chief Manager, R/o.: Aurangabad.
… Applicant
(OA No.606/2025)
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Versus
1. Janardhan Namdeo Magar, Age: 40 years, Occ.: Agriculture, R/o.: Talwada, Tal. Vaijapur, Dist. Aurangabad.
2. Santosh Uttamrao Suryawanshi,
Age: 37 years, Occ.: Agriculture/Business, R/o.: Balhegaon, Tal. Vaijapur, Dist. Aurangabad.
…Defendants
APPEARANCES
For the Applicant Mr. K.D. Pande -Advocate For Defendants Ex-parte
JUDGMENT
Delivered on 24.06.2026
Brief facts of the application are as under:
(OA No.606/2025)
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loan facilities sanctioned, the Defendants executed registered
mortgage deed bearing registration No. 1098/2014 dated
28.02.2014. The mortgage was created in respect of the following
property:
All those piece and parcel of land admeasuring 47 R in Gat No. 230, land admeasuring 76 R in Gat No. 229 and land admeasuring3 H 19 R in Gat No. 257, Village Talwada, Tal. Vaijapur and Dist. Aurangabad, which is bounded as under:
Gat No. 230
North: Land of Rangnath Shivam, East: Land of Kachur Hanumanta, South: Land of Manohari Namdeo West: Land of Baburao Hanumanta.
Gat No. 229 North: Gut No. 230, East: Land of Jadhav Maya, South: Land of Maya Babasaheb West: Land of Babasaheb Mana.
Gat No. 257 North: Govt. Road, East: Gaothan, South: Land of Changdeo & Somnath MAgar West: Land of Jayabai Solse.
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realization 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
(A) Original Application No. 606/2025 is allowed with
(B) The defendants shall pay jointly and severally to the applicant Bank a sum of Rs. 36,25,715/- (Rupees Thirty Six Lacs, Twenty Five Thousand, Seven Hundred and Fifteen only), along with future interest @ 7% per annum (simple) from the date of filing of the Original Application i.e. 04.01.2023 till full payment/realization of the amount mentioned in this operative order.
All those piece and parcel of land admeasuring 47 R in Gat No. 230, land admeasuring 76 R in Gat No. 229 and
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land admeasuring3 H 19 R in Gat No. 257, Village Talwada, Tal. Vaijapur and Dist. Aurangabad, which is bounded as under:
Gat No. 230 North: Land of Rangnath Shivam, East: Land of Kachur Hanumanta, South: Land of Manohari Namdeo West: Land of Baburao Hanumanta.
Gat No. 229 North: Gut No. 230, East: Land of Jadhav Maya, South: Land of Maya Babasaheb West: Land of Babasaheb Mana.
Gat No. 257 North: Govt. Road, East: Gaothan, South: Land of Changdeo & Somnath MAgar West: Land of Jayabai Solse.
(D) The applicant Bank is entitled to sell the mortgaged immovable properties and hypothecated goods / Articles etc., to recover its dues.
(E) Issue Recovery Certificate accordingly.
(OA No.606/2025)
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Sd/-
Pronounced in open court. Place: Aurangabad Date:.24.06.2026
(Dr. J. R. Chauhan) Presiding Officer Debts Recovery Tribunal, Aurangabad
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2 issues framed by the court
Whether the amount claimed in the original application should be allowed with unrealized future interest.
Whether the mortgage properties can be relied upon to secure the adjudicated amount.
Bank of India
Janardhan Namdeo Magar
Santosh Uttamrao Suryawanshi
Dr. J. R. Chauhan
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
