Debts Recovery Tribunal allowed IDBI Bank Ltd.'s application for recovery of Rs. 33,70,161/- plus future simple interest from two borrowers who defaulted on a home loan secured by an equitable mortgage of immovable property.
Direct order to repay Rs. 33,70,161/- and future simple interest at 7% p.a.; authorizes sale of secured mortgaged property to recover dues.
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: 30.12.2022 Registered on: 29.04.2023 Decided on: 14.01.2026 Duration: Y M D 03 00 15
IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD
(Before Shri Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No.67/2023
TOTAL CLAIM AMOUNT – Rs. 33,70,161/-
IDBI BANK LIMITED.
A company incorporated under the
Companies Act, 1956, and a company within
the meaning of Section 2(20) of the
Companies Act, 2013 (18 of 2013) and a
banking company duly registered, within the
meaning of Banking Regulation Act, 1949, and having its registered office at IDBI Tower,
… Applicant
World Trade Centre, Complex, Cuffe Parade,
Mumbai- 400005 and IDBI BANK Limited,
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through one of its Branch at Retail Asset Centre, 1st floor, Plot No. 7, Behind Vidya Nagar Branch, Raghabir Chembers Vidya Nagar, Jalna Road, Aurangabad- 431001, Maharasthra. Through its Authorized Officer and authorized Signatory, Mr. Sumit Vijaykumar Rodge, Age:- 38 Years, Occ:-
Service, R/p: Aurangabad.
Versus
Age: Major, Occupation: Service,
R/o: At H. No. 1451/3, Om Sai Nagar, Kamalapur, Waluj, Ranjangaon-
Aurangabad Maharashtra- 431136.
Mob: 9765106888,
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PAN: AILPJ1280C,
And also
Part 7, Plot No. 1178/8-7, Bajajnagar at
Wadgaon, MIDC Waluj Area,
Aurangabad- 431136.
E-mail: [email protected]
Age: Major, Occ: Household,
R/o: At H. No. 1451/3, Om Sai Nagar,
Kamalapur, Waluj, Ranjangaon-
Aurangabad Maharashtra- 431136.
Mob: 9823510334.
PAN: AILPJ1280C.
APPEARANCES For the Applicant For Defendants
Mr. Pathak Anirudha S- Advocate Ex-parte
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J U D G M E N T
Delivered on (14.01.2026)
Brief facts of the application are as under:
The agreed rate of interest for the Home Loan Facility and
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Insurance Premium Loan was @8.85% per annum with monthly rests.
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All the piece and parcel of the immovable property i.e. Part No. 7, Adm. 115.50 Sq. Mtr., along-with construction thereon, constructed on Plot No. RH-117/8-7, Bajaj Nagar within the village limits of Wadgaon, MIDC Waluj area, Aurangabad and bounded as follows:-
East :- RH No. 118, West :- RH No. 116/2, South :- MIDC Road, North :- Gut No. 781/1.
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failed and neglected to pay the same. The loan account of the Defendants became irregular and classified as NPA. Therefore on 18.09.2021, the Applicant Bank issued Authority letter to the Defendants through their Officer of the Applicant Bank. Despite service of Notice, the Defendants failed and neglected to repay the outstanding dues of the Applicant Bank. Hence, this application is filed.
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Hence, I pass the following order.
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annum (simple) from the date of filing of the Original Application, i.e., 30.12.2022, until full payment/ realization of the said amount.
(C) The aforesaid adjudicated amount is secured by an immovable property mortgaged in favour of the Applicant Bank through a Home Loan Agreement, Power of Attorney, Declaration cum undertaking, and Memorandum of entry dated 30.07.2019. All the above said documents are marked as Annex. A-3 to A-8 in list of documents Exh.6. The mortgaged property is described as follows:
All the piece and parcel of the immovable property i.e. Part No. 7, Adm. 115.50 Sq. Mtr., along-with construction thereon, constructed on Plot No. RH117/8-7, Bajaj Nagar within the village limits of Wadgaon, MIDC Waluj area, Aurangabad and bounded as follows:-
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East :- RH No. 118, West :- RH No. 116/2, South :- MIDC Road, North :- Gut No. 781/1.
(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/-
(Dr. J. R. Chauhan) Place : Aurangabad Presiding Officer Date : 14.01.2026 Debts Recovery Tribunal, Aurangabad
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2 issues framed by the court
Whether the applicant bank is entitled to recover the claimed loan dues including future interest from the defaulting borrowers.
Whether the future interest awarded should be simple interest at 7% per annum as opposed to the claimed 8.85%.
1 provisions across 1 enactments
IDBI Bank Limited
Mr. Ajay S/o Shivaji Jadhav
Mrs. Archana Ajay Jadhav
Dr. J. R. Chauhan
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
