Union Bank of India versus Mallikarjun

Presented on: 27.08.2022 Registered on: 15.01.2024 Decided on: 20.02.2026 Duration: Y M D 03 05 23

IN THE DEBTS RECOVERY TRIBUNAL AT PUNE (Before Shri Dilip G Murumkar, Presiding Officer) ORIGINAL APPLICATION No.65/2024.

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Union Bank of India

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A Banking company constituted under Banking Companies (Acquisition and Transfer of Undertakings) Act 1980 having its Central Office at Union Bank Bhavan, 239 Vidhan Bhavan Marg, Mumbai – 400 021 and branch amongst other places at – Solapur Main Branch, Kumbhar Ves, Solapur-413 002.

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… Applicant

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Versus

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1. Mr. Mallikarjun Basvant Birajdar

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Age – adult, Occ.:-Agri. & Business, R/at Hattarjang, Post Barur, Taluka South Solapur, District Solapur- 413 008.

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2. M/s Gokul Sugar Industries Ltd., Address at – D-6/7, Vidhyavihar Apartment, Railway Lines, Solapur-413 001.

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3. Mr. Datta Balhim Shinde

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Age – adult, Occ.:-Agri. & Business,

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4. Mr. Kapil Balbhim Shinde Age adult, Occ: Agri. & Business,

(OA No.65/2024)

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[ANIL]

5. Mr. Ganpat Dattatraya Shinde

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Age adult, Occ: Agri. & Business,

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6. Mr. Dhiraj Ganpat Shinde

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Age adult, Occ: Agri. & Business,

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7. Mr. Gokul Dattatraya Shinde … Defendants Age adult, Occ: Agri. & Business, 3 to 7 all R/at – Flat No.D-7, Vidya Vihar Apartment, Railway Lines, Solapur-413 001.

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APPEARANCES

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For the Applicant Mrs. Bhakti Rokade i/b Mr. Srinivas Y - Advocate For the Defendants Ex-parte.

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TOTAL CLAIM AMOUNT –Rs.21,16,669/-

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JUDGMENT (Delivered on 20^th February, 2026)

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The Applicant Bank has filed present application for recovery of Rs.21,16,669/- in respect of Term Loan account together with future interest @11.50% p. a. with monthly rests thereon from the date of filing of suit till repayment/realization of entire dues from the defendants.

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Brief facts of the application are as under:

(OA No.65/2024)

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[ANIL]

Defendant No.1 is a borrower and Defendant No.2 is Private Limited Company and Corporate Guarantor to the facilities granted to Defendant No.1 and other members who availed the loan facility under H & T Contractors. Defendant Nos.3 to 7 stands as guarantor in their personal capacity as well as Mortgagor, to Defendant No.1.

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Defendant No.2 had identified arranged and engaged harvesting and transport contractors for harvesting and transportation of sugarcane to whom it had to pay amount for harvesting and transportation activities. Defendant No.2 passed resolution in the Board Meeting dated 16.11.2017 authorizing Defendant No.3 the Managing Director of Defendant No.2 that he should apply and avail term loan limit of Rs.30 Crores from the applicant bank under Harvesting and Transport Contractors Loan Scheme to individual contractors and to which Defendant No.2 as Company shall stands as Guarantor to provide Corporate Guarantee and defendant Nos. 3 to 7 stand as guarantor in their personal capacity.

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The applicant bank sanctioned Term Loan limit of Rs.20 Crores on 16.11.2017 for the purpose of contractors need the advance for making payment for hiring Labour Tolis/ Gang for harvesting of the sugarcane and transportation of harvested cane to the Sugar Factory.

(OA No.65/2024)

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[ANIL]

At the instance of Defendant No.2, Defendant No.1 submitted loan application to the applicant bank for Term Loan Facility of Rs.21,00,000/- and applicant bank sanctioned Term Loan Facility of Rs.21,00,000/- to Defendant No.1 as per Consolidated Sanction Letter dated 16.11.2017 in the name of Defendant No.2 for cumulative Term Loan limit of Rs.20 Crores.

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On 18.01.2018, Defendant No.1 signed and executed certain documents in favour of the applicant bank as mentioned in Para No.5.9 of the Original Application.

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Defendant No.2 passed Resolution authorizing Managing Director to execute the default guarantee and loan documents in consideration and in pursuance of said cumulative term loan limit of Rs.20 Crore granted by the applicant bank and thereby executed Deed of Guarantee on 16.11.2017 for Rs.20 Crores.

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The applicant bank states that Defendant No.1 has secured the said loan facility by way of Hypothecation of Movable Assets i.e.

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(i)- Mahindra Tractor 555 having its Registration No. MH-22AD-2743 having it’s Engine No.NNHY09822 and Chassis No. NNHY09822;

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(ii)- Mahindra Tractor 555 having its Registration No. MH-13AJ-6181 having its Engine No. 076834N and Chassis No. is 2185828;

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(iii)- Mahindra Tractor 555 having its Registration No. MH-13AJ-9384 having its Engine No. RJC01496 and Chassis No. is RJC01496;

(OA No.65/2024)

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[ANIL]

(iv)- Mahindra Trailer having its Registration No. MH-13-CB0143 having its Chassis No. KGN10809;

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(v)- Mahindra Trailer having its Registration No. MH-13-CB0142 having its chassis No.KGN10909.

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Defendant No.1 has secured the below mentioned immovable properties in favour of the applicant bank, as under –

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(i) - Property bearing Flat No.301, admeasuring 103.38 sq. mtrs. on third floor in the Building Name Koral Boutique constructed on Plot No.74 total admeasuring 307.50 sq. mtrs. out of old Survey No.273 its new Survey No.17/2 situated at Majrewadi, Solapur, Taluka North Solapur, District Solapur, owned by Datta Bhalhim Shinde;

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(ii) - Agricultural land bearing Gat No.6/2B admeasuring 2H, 01R Area assessment of Rs.2.92 Ps. situated at village Dahitne Taluka Akkalkot, District Solapur within the limits of Dahitne Grampanchayat, Taluka Akkalkot, District Solapur, which is owned by Shri. Kapil Balbhim Shinde;

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(iii) - Agricultural land bearing Gat No.164/2 admeasuring 1H, 20R Area assessment of Rs.0.58Ps situated at village Dhotri, Taluka South Solapur, District Solapur, within the limits of Dhotri Grampanchayat, Taluka South Solapur, District Solapur, which is owned by Ganpat Dattatray Shinde;

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(iv) - Agricultural land bearing Gat No.166 admeasuring 4H, 02R +0H 36R = 4H 38R assessment of Rs.1.05Ps situated at village

(OA No.65/2024)

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[ANIL]

Dhotri, Taluka South Solapur, District Solapur, within the limits of Dhotri Grampanchayat, Taluka South Solapur, District Solapur, which is owned and possessed by Shri. Dhiraj Gokul Shinde;

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(v) - Agricultural land bearing Gat No.169/1 admeasuring 2H, 04R out of it an Area admeasuring 1H 84R assessment of Rs.0.61Ps situated at village Dhotri, Taluka South Solapur, District Solapur, within the limits of Dhotri Grampanchayat, Taluka South Solapur, District Solapur, which is owned by Shri. Gokul Dattatraya Shinde;

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(vi) - Agricultural land bearing Gat No.169/2 admeasuring 3H, 00R out of it an Area admeasuring 1H 84 R assessment of Rs.0.61Ps situated at village Dhotri, Taluka South Solapur, District Solapur, within the limits of Dhotri Grampanchayat, Taluka South Solapur, District Solapur, which is owned by Shri. Gokul Dattatraya Shinde;

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(vii) - Agricultural land bearing Gat No.169/4 admeasuring 2H, 42R out of it an Area admeasuring 1H 83R assessment of Rs.1.07Ps situated at village Dhotri, Taluka South Solapur, District Solapur, within the limits of Dhotri Grampanchayat, Taluka South Solapur, District Solapur, which is owned by Shri. Gokul Dattatray Shinde;

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(viii) Agricultural land bearing Gat No.164/1 admeasuring 6H, 22R+0H 37R = 6H 59R assessment of Rs.3.20Ps out of it towards the Southern side an area admeasuring 1H 20R assessment of Rs.0.58Ps situated at village Dhotri, Taluka South Solapur, District Solapur, within the limits of Dhotri Grampanchayat, Taluka South Solapur, District Solapur, which is owned by Shri. Gokul Dattatray Shinde;

(OA No.65/2024)

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[ANIL]

(ix) - Agricultural land bearing Gat No.164/3 admeasuring 6H, 22R +0H 37R = 6H 59 R assessment of Rs.3.20Ps out of it towards the Southern side an area admeasuring 1H 20R assessment of Rs.0.58Ps situated at village Dhotri, Taluka South Solapur, District Solapur, within the limits of Dhotri Grampanchayat, Taluka South Solapur, District Solapur, which is owned and possessed by Shri. Gokul Dattatray Shinde, more particularly described in Mortgage Deed.

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Defendant No.1 has not adhered to repay the outstanding amount at the foot of the said Term loan facility account and there are over dues in the account and even the interest in the account is not paid on time. Hence, the account has classified as NonPerforming Asset on 08.06.2018 as per the Reserve Bank of India norms.

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Therefore, the applicant Bank issued Legal Notice dated 04.07.2022 through its Advocate Srinivas B. Yelery calling upon the defendants to pay the dues. In spite of issuing Notice, defendants failed to repay the amount due under the Term Loan account.

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Hence, this application is filed.

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Defendants failed to appear despite service of summons. Hence, the application proceeded ex-parte against it vide Order dated 06.06.2025 passed below the Application (Exhibit-01).

(OA No.65/2024)

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[ANIL]

The applicant Bank has filed Claim Affidavit of evidence (Exhibit-6) of Mr. Vineet Kumar Singh, Branch Manager which supports the case of the applicant Bank elucidated in the application.

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The applicant Bank has produced on record the originals/photocopies of loan transaction documents (Sr.Nos.AW-1 to AW-14) which corroborate 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 contest the application, I find no reason to disbelieve the evidence of the applicant Bank. Therefore, the applicant Bank is entitled for reliefs as claimed.

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The applicant bank has claimed relief in respect of hypothecated assets. However, there is no description with respect to the hypothecated assets in Hypothecation Agreement dated 08.01.2018. Therefore, the relief in terms of hypothecated assets cannot be granted.

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The applicant Bank has claimed future interest @11.50% p.a. with monthly rests for Term Loan account. However, considering facts of the case, I am of the opinion that if future interest is granted @9% (simple), it would be just and reasonable.

(OA No.65/2024)

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[ANIL]

Hence, I pass the following order:-

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ORDER

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(A) Original Application No.65/2024 is allowed with costs. (B) Defendant Nos.1 to 7 shall either jointly or severally pay to the applicant Bank towards Term Loan account sum of Rs.21,16,669/(Rupees Twenty-One Lakhs Sixteen Thousand Six Hundred Sixty-Nine only) with future interest @9%p.a. (Simple) from the date of filing of Original Application i.e.27.08.2022 till payment/ realization of the amount mentioned in this operative order.

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(C) The above said amount is secured by executing Mortgage Deed of the following immovable properties i.e.

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(i) - Property bearing Flat No.301, admeasuring 103.38 sq. mtrs. on third floor in the Building Name Koral Boutique constructed on Plot No.74 total admeasuring 307.50 sq. mtrs. out of old Survey No.273 its new Survey No.17/2 situated at Majrewadi, Solapur, Taluka North Solapur, District Solapur, owned by Datta Bhalhim Shinde;

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(ii) - Agricultural land bearing Gat No.6/2B admeasuring 2H, 01R Area assessment of Rs.2.92 Ps. situated at village Dahitne Taluka Akkalkot, District Solapur within the limits of Dahitne Grampanchayat, Taluka Akkalkot, District Solapur, which is owned by Shri. Kapil Balbhim Shinde;

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(iii) - Agricultural land bearing Gat No.164/2 admeasuring 1H, 20R Area assessment of Rs.0.58Ps situated at village Dhotri, Taluka South Solapur, District Solapur, within the limits of Dhotri Grampanchayat, Taluka South Solapur, District Solapur, which is owned by Ganpat Dattatray Shinde;

(OA No.65/2024)

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[ANIL]

(iv) - Agricultural land bearing Gat No.166 admeasuring 4H, 02R +0H 36R = 4H 38R assessment of Rs.1.05Ps situated at village Dhotri, Taluka South Solapur, District Solapur, within the limits of Dhotri Grampanchayat, Taluka South Solapur, District Solapur, which is owned and possessed by Shri. Dhiraj Gokul Shinde;

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(v) - Agricultural land bearing Gat No.169/1 admeasuring 2H, 04R out of it an Area admeasuring 1H 84R assessment of Rs.0.61Ps situated at village Dhotri, Taluka South Solapur, District Solapur, within the limits of Dhotri Grampanchayat, Taluka South Solapur, District Solapur, which is owned by Shri. Gokul Dattatraya Shinde;

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(vi) - Agricultural land bearing Gat No.169/2 admeasuring 3H, 00R out of it an Area admeasuring 1H 84 R assessment of Rs.0.61Ps situated at village Dhotri, Taluka South Solapur, District Solapur, within the limits of Dhotri Grampanchayat, Taluka South Solapur, District Solapur, which is owned by Shri. Gokul Dattatraya Shinde;

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(vii) - Agricultural land bearing Gat No.169/4 admeasuring 2H, 42R out of it an Area admeasuring 1H 83R assessment of Rs.1.07Ps situated at village Dhotri, Taluka South Solapur, District Solapur, within the limits of Dhotri Grampanchayat, Taluka South Solapur, District Solapur, which is owned by Shri. Gokul Dattatray Shinde;

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(viii) - Agricultural land bearing Gat No.164/1 admeasuring 6H, 22R+0H 37R = 6H 59R assessment of Rs.3.20Ps out of it towards the Southern side an area admeasuring 1H 20R assessment of Rs.0.58Ps situated at village Dhotri, Taluka South Solapur, District Solapur,

(OA No.65/2024)

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[ANIL]

within the limits of Dhotri Grampanchayat, Taluka South Solapur, District Solapur, which is owned and possessed by Shri. Gokul Dattatray Shinde; and

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(ix) - Agricultural land bearing Gat No.164/3 admeasuring 6H, 22R +0H 37R = 6H 59 R assessment of Rs.3.20Ps out of it towards the Southern side an area admeasuring 1H 20R assessment of Rs.0.58Ps situated at village Dhotri, Taluka South Solapur, District Solapur, within the limits of Dhotri Grampanchayat, Taluka South Solapur, District Solapur, which is owned and possessed by Shri. Gokul Dattatray Shinde, more particularly described in Mortgage Deed filed alongwith Original Application.

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(D) The Applicant Bank is entitled to sell the abovementioned mortgaged immovable properties to recover its dues.

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(E) Issue Recovery Certificate.

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(F) The Registrar is directed to send the copy of Judgment and Recovery Certificate to the applicant Bank and the defendants.

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Place : Pune Date : 20.02.2026

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Sd/(Dilip G Murumkar) Presiding Officer, Debts Recovery Tribunal, Pune.

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(OA No.65/2024)

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[ANIL]

Union Bank of India v. Mallikarjun

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Union Bank of India v. Mallikarjun

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