Allowed

Bank of India v. Ramsingh Tulsiram Rathod

DRT6 Aug 2026OA/631/2025

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed Bank of India's original application to recover dues from borrowers who defaulted on a term loan. Being an ex-parte proceeding where defendants failed to appear, the recovery was confirmed. The court fixed the future interest rate at 7% per annum.

What did the court decide?

Recovery of Rs. 22,57,374.31 with future interest at 7% p.a. secured by mortgaged properties, entitlement to sell properties to recover dues, and issuance of Recovery Certificate.

Bank of India versus Ramsingh Tulsiram Rathod — Contract and Commercial Disputes | DRT (2026)

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Presented on: 31.08.2025 Registered on: 15.10.2025 Decided on: 06.08.2026 Duration: Y M D 00 11 06

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IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 631/2025

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TOTAL CLAIM AMOUNT – Rs. 22,57,374.31/-

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Bank of India,

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A Body Corporate constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act 1970, Having its Head Office at Star House, “C-5”, G-Block, Bandra Kurla Comples, Bandra (East), Mumbai and having branches amongst the other places at Main Branch, Jalna, … Applicant through its Power of Attorney, Mr. Vivek Kumar (Chief Manager) Age: 45 yrs., Occ.: Service, R/o.: Deolali, Cantt. Nashik.

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Versus

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1. Mr. Ramsingh Tulsiram Rathod, Age: Major, Occ.: Agri., R/o.: At Hiwara Tanda, Tq. Bhokardan, Dist. Jalna 43114.

(OA No.631/2025)

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2. Mr. Tulsiram Harku Rathod,

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Age: Major, Occ.: Agri., R/o.: At Hiwara Tanda, Tq. Bhokardan, Dist. Jalna 43114.

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3. Mrs. Babubai Tulsiram Rathod,

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Age: Major, Occ.: Agri., R/o.: At Hiwara Tanda, Tq. Bhokardan, Dist. Jalna 43114.

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4. Mr. Kailas Lalasingh Jadhav,

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Age: Major, Occ.: Agri., R/o.: At Hiwara Tanda, Tq. Bhokardan, Dist. Jalna 43114.

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5. Mr. Kailas Mansiram Rathod,

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Age: Major, Occ.: Agri., R/o.: At Hiwara Tanda, Tq. Bhokardan, Dist. Jalna 43114.

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APPEARANCES

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For the Applicant For Defendants

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…Defendants

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Mr. K.D. Pande Advocate Ex-parte

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JUDGMENT

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Delivered on 06.08.2026

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The Applicant Bank has filed the present application for the

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recovery of a sum of Rs. 22,57,374.31/- (Rupees Twenty Two Lacs,

(OA No.631/2025)

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Fifty Seven Thousand, Three Hundred Seventy Four and Thirty One Paisa only), along with further interest from the date of filing of the Original Application, i.e., 31.08.2025, 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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That, the defendant No. 1 to 3 had approached to the Applicant bank and requested to sanction Term Loan Facility. Upon considering the request and need of the defendants, the Applicant Bank Sanctioned Term Loan Facility of Rs. 10,00,000/- vide sanction letter dated 26.12.2011 on certain terms and conditions. The agreed rate of interest was @ 11% p.a. with half yearly rests. The defendants also agreed to pay an additional interest by way of liquidated damages @ 2% p.a. in case of default in repayment.

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In order to secure the aforesaid loan facility, the Defendants

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executed various loan documents in favour of the Applicant Bank, including the sanction letter, hypothecation agreement, demand promissory note, registered mortgage deed bearing daybook no.

(OA No.631/2025)

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487 dated 19.03.2012. Additionally Defendant No. 4 and 5 stood

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as guarantors for Defendant No.1 to 3 and executed a Deed of

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Guarantee dated 15.03.2012 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 Defendants created first charge over their immovable property by executing a registered mortgage deed bearing daybook no. 487 dated 19.03.2012, 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 agricultural land admeasuring 0 H 32 R out of Gat No. 112, situated at Pathar Devulgaon, Tq. Badnapur, Dist. Jalna, which is bounded as under: East :- Land of Ramesh Baburao Rathod, West :- Land of R.C. Rathod, South:- Nala, North: - Land of Ramesh Baburao Rathod.

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ii) All that piece and parcel of agricultural land admeasuring 0 H 56 R out of Gat No. 114, situated at Pathar Devulgaon, Tq. Badnapur, Dist. Jalna, which is bounded as under: East :- Land of Ramesh Baburao Rathod, West :- Land of R.C. Rathod, South:- Nala, North: - Land of Ramesh Baburao Rathod.

(OA No.631/2025)

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iii) All that piece and parcel of agricultural land admeasuring 1 H 55 R out of Gat No. 105, situated at Pathar Devulgaon, Tq. Badnapur, Dist. Jalna, which is bounded as under: East :- Land of Ramdhan Rathod, West :- Land of Ganpat Bhima Rathod, South:- Hill, North: - Nala.

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iv) All that piece and parcel of agricultural land admeasuring 1 H 80 R out of Gat No. 135, situated at Pathar Devulgaon, Tq. Badnapur, Dist. Jalna, which is bounded as under: East :- Land of Eknath Bhimrao Rathod, West :- Land of Devidas Tejrao Rathod, South:- Hill, North: - Land of Ramnath Bhimrao Rathod.

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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 defendant became

(OA No.631/2025)

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irregular and classified as NPA on 31.03.2017. Therefore, on 12.08.2025 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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The defendants failed to appear in matter though they were served through RPAD. Hence, the defendants were proceeded exparte as per Order dated 23.04.2026.

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The applicant Bank has filed Claim Affidavit of evidence at Exhibit-04 of Mr. Vivek Kumar, POA of the applicant Bank, and has produced on record the original loan transaction documents as Exh. A-1 to A-15 as per list of documents Exh.05 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 defendants failed to appear and did not contest the application, I find no reason to disbelieve the unrebutted

(OA No.631/2025)

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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 @11% per annum respectively on loan from the date of filing i.e. 31.08.2025 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 @ 7% 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. 631/2025 is allowed with costs.

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(B) The defendants shall pay jointly and severally to the applicant Bank a sum of Rs. 22,57,374.31/- (Rupees Twenty Two Lacs, Fifty Seven Thousand, Three Hundred Seventy Four and Thirty One Paisa only), along with future interest @ 7% per annum (simple) from the date of filing of the Original Application i.e. 31.08.2025

(OA No.631/2025)

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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 following immovable properties vide registered documents at Exh. A-5 in list of documents Exh. 5. i) All that piece and parcel of agricultural land admeasuring 0 H 32 R out of Gat No. 112, situated at Pathar Devulgaon, Tq. Badnapur, Dist. Jalna, which is bounded as under:

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East :- Land of Ramesh Baburao Rathod, West :- Land of R.C. Rathod,

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South:- Nala,

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North: - Land of Ramesh Baburao Rathod.

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ii) All that piece and parcel of agricultural land admeasuring 0 H 56 R out of Gat No. 114, situated at Pathar Devulgaon, Tq. Badnapur, Dist. Jalna, which is bounded as under:

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East :- Land of Ramesh Baburao Rathod, West :- Land of R.C. Rathod,

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South:- Nala, North: - Land of Ramesh Baburao Rathod.

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iii) All that piece and parcel of agricultural land admeasuring 1 H 55 R out of Gat No. 105, situated at Pathar Devulgaon, Tq. Badnapur, Dist. Jalna, which is bounded as under:

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East :- Land of Ramdhan Rathod, West :- Land of Ganpat Bhima Rathod,

(OA No.631/2025)

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South:- Hill, North: - Nala.

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iv) All that piece and parcel of agricultural land admeasuring 1 H 80 R out of Gat No. 135, situated at Pathar Devulgaon, Tq. Badnapur, Dist. Jalna, which is bounded as under:

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East :- Land of Eknath Bhimrao Rathod, West :- Land of Devidas Tejrao Rathod, South:- Hill, North: - Land of Ramnath Bhimrao Rathod.

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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:.06.08.2026 Debts Recovery Tribunal, Aurangabad

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(OA No.631/2025)

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[AMBADAS]

Bank of India v. Ramsingh Tulsiram Rathod

Case brief

What is this about?

What did the court decide?

Bank of India v. Ramsingh Tulsiram Rathod

Case brief

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