Allowed

Bank of India v. Mrs. Manisha Sandeep Bhole

DRT2 Jul 2026OA/641/2025

Case brief

AI extract

What is this about?

In an ex-parte recovery application, the Debts Recovery Tribunal allowed the claim of Bank of India against Ms. Bhole for an outstanding home loan of Rs. 42,95,000. The tribunal affirmed the mortgage charge over the respondent's flat and directed the payment of principal plus 8% simple future interest.

What did the court decide?

Payment of Rs. 42,95,000 plus future interest at 8% simple per annum from 10.09.2025; enforcement via sale of mortgaged flat; issuance of Recovery Certificate.

Bank of India versus Mrs. Manisha Sandeep Bhole — Banking and Recovery | DRT (2026)

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Presented on: 10.09.2025 Registered on: 10.11.2025 Decided on: 02.07.2026 Duration: Y M D 00 09 22

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IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 641/2025

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TOTAL CLAIM AMOUNT – Rs. 42,95,000/Bank of India, A Body Corporate constituted under

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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, Jalgaon, through its Power of Attorney, Mr. Vivek Kumar Age: 45 yrs., Occ.: Service, R/o.: Deolali, Cantt. Nashik.

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… Applicant

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Versus

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Mrs. Manisha Sandeep Bhole, Age: Major, Occ.: Service., R/o.: At Guam Chetna Residency, Opp. Godavari College, Bhusawal Road, Khedi Shivar, Jalgaon – 425001.

…Defendant

(OA No.641/2025)

Page 1 of 7

[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 02.07.2026

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The Applicant Bank has filed the present application for the recovery of a sum of Rs. 42,95,000/- (Rupees Forty Two Lacs, Ninety Five Thousand only), along with further interest from the date of filing of the Original Application, i.e., 10.09.2025, 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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That, the defendant had approached to the Applicant bank and requested to sanction Housing Loan. Upon considering the request and need of the defendant, the Applicant Bank Sanctioned Housing loan of Rs. 41,55,000/- vide sanction letter dated 21.03.2022 on certain terms and conditions. The agreed rate of interest was @ 6.60% p.a. with monthly rests. The defendant also

(OA No.641/2025)

Page 2 of 7

[AMBADAS]

agreed to pay an additional interest by way of liquidated damages

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@ 2% p.a. in case of default in repayment.

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In order to secure the aforesaid loan facility, the Defendant executed various loan documents in favour of the Applicant Bank, including the sanction letter, Original agreement for home loan, demand promissory note, registered sale deed bearing daybook no. 958 dated 25.03.2022 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 created first charge over immovable property by depositing a registered sale deed bearing daybook no. 958 dated 25.03.2022, in favour of the Applicant Bank. The mortgage was created in respect of the following

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property –

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All that piece and parcel of Flat No. 301, on 2^nd Floor, Renai Apartment, Plot No. 7A, Survey No. 483, CTS No. 6702, Opp. Prima Wine Near Water Storage Tank Ramanand Nagar, Mehrun Shivar, Jalgaon, Tal. And Dist. Jalgaon, which is bounded as under: East :- Marginal Space, Compound Wall & thereafter CTS No. 6703, West :- CTS No. 6701,

(OA No.641/2025)

Page 3 of 7

[AMBADAS]

South:- Marginal Space, Compound Wall & thereafter 6 Meter Wide Road, North: - Staircase, Flat No. 302.

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The applicant bank contended that the defendant has failed to keep her promise and commitments agreed by her 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 classified as NPA on 30.04.2025. Therefore, on 02.07.2025 the applicant bank issued legal notice to the defendant through their advocate. Despite service of Notices, the defendant failed and neglected to repay the outstanding dues of the applicant Bank. Hence, this application is filed.

(OA No.641/2025)

Page 4 of 7

[AMBADAS]

The defendant failed to appear in matter though she was served through paper publication. Hence, the defendant was proceeded ex-parte as per Order dated 20.05.2026.

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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-19 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 defendant failed to appear and did not 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 property of the borrower which is mortgaged in favour of the applicant bank.

(OA No.641/2025)

Page 5 of 7

[AMBADAS]

The applicant Bank has claimed future interest @6.60% per annum plus penal interest on loan from the date of filing i.e. 10.09.2025 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) 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. 641/2025 is allowed with

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costs.

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(B) The defendant shall pay to the applicant Bank a sum of Rs. 42,95,000/- (Rupees Forty Two Lacs, Ninety Five Thousand only),along with future interest @ 8% per annum (simple) from the date of filing of the Original Application i.e. 10.09.2025 till full payment/realization of the amount mentioned in this operative order.

(OA No.641/2025)

Page 6 of 7

[AMBADAS]

document at Exh. A-10 to A-13 in list of documents Exh. 5.

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(D) The applicant Bank is entitled to sell the mortgaged immovable property, 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)

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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. Place: Aurangabad Date:.02.07.2026

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(Dr. J. R. Chauhan) Presiding Officer Debts Recovery Tribunal, Aurangabad

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(OA No.641/2025)

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Page 7 of 7

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[AMBADAS]

Bank of India v. Mrs. Manisha Sandeep Bhole

Case brief

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Bank of India v. Mrs. Manisha Sandeep Bhole

Case brief

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