Allowed

Bank of Maharashtra v. Mr. Ravindra Visaram Padar

DRT2 Jul 2026OA/730/2025

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an application filed by Bank of Maharashtra for recovery of Rupees 31,98,005/- from two respondents who defaulted on home and personal loans. The court, finding the case unopposed, granted relief for the principal, future interest at 8% p.a., and enforcement of mortgage on an immovable property.

What did the court decide?

Ruling for payment of Rs. 31,98,005/-, future interest at 8% p.a., and sale of mortgaged Flat No. 107 for recovery.

Bank of Maharashtra versus Mr. Ravindra Visaram… — Contract and Commercial Disputes | DRT (2026)

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Presented on: 17.11.2025 Registered on: 11.12.2025 Decided on: 02.07.2026 Duration: Y M D 00 07 15

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IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 730/2025

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TOTAL CLAIM AMOUNT – Rs. 31,98,005/-

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Bank of Maharashtra ,

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A Body constituted under the Banking Companies (Acquisition and Transfer of Undertaking) Act, 5 of 1970, Having its Head Office at “Lokmangal”, 1501, Shivaji Nagar, Pune-411 005 and Branches amongst the other places at Mid-Corporate Branch, Waluj, Chh. Sambhajinagar & having it’s Asset Recovery Branch (ARB) at C-3, N-1, Zonal Office, CIDCO, Chh. Sambhajinagar through it’s Authorized Person, Mr. Somnath Bajrang Sasane (Chief Manager), Age: 47 yrs., Occ.: Service, R/o.: CIDCO, Chh. Sambhajinagar.

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… Applicant

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Versus

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1. Mr. Ravindra Visaram Padare, Age: Major, Occupation: Business R/o.: At Plot No. X-3, Gulabganga, Complex, Tiranga Chowk, Pandharpur, Tisgaon, Chh. Sambhajinagar 431136.

AND / OR

(OA No.730/2025)

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[AMBADAS]

Mr. Ravindra Visaram Padare, Age: Major, Occupation: Business R/o.: At Flat No. 107, Indradhanu-2, Plot No. 454 & 455, Gat No. 174/P, CIDCO Waluj Mahanagar, Tisgaon, Chh. Sambhajinagar 431136.

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2. Mrs. Anjali Ravindra Padare,

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Age: Major, Occupation: Homemaker R/o.: At Plot No. X-3, Gulabganga, Complex, Tiranga Chowk, Pandharpur, Tisgaon, Chh. Sambhajinagar 431136.

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AND / OR

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Mr. Ravindra Visaram Padare, Age: Major, Occupation: Homemaker R/o.: At Flat No. 107, Indradhanu-2, Plot No. 454 & 455, Gat No. 174/P, CIDCO Waluj Mahanagar, Tisgaon, Chh. Sambhajinagar 431136.

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…Defendants

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APPEARANCES

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For the Applicant Mr. K.D. Pande -Advocate For Defendants Ex-parte

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JUDGMENT Delivered on 02.07.2026

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The Applicant Bank has filed the present application for the

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recovery of a sum of Rs. 31,98,005/- (Rupees Thirty One Lacs, Ninety Eight Thousand, and Five only), along with future interest

(OA No.730/2025)

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[AMBADAS]

from the date of filing of the Original Application, i.e., 17.11.2025, 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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The Applicant Bank states that the Defendant No. 1 & 2 had approached and requested the Applicant Bank to sanction Loan Facility for purchase of house. Upon considering the request and financial needs of the Defendants, the Applicant Bank sanctioned Home Loan Facility of Rs. 19,96,000/- vide, sanction letter dated 17.12.2018 on certain terms and conditions. The agreed rate of interest for aforesaid loan facility was @8.85% p.a. with monthly rests. The Defendants also agreed to pay additional interest @2% by way of liquidated damages in the event of any default in repayment.

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That, thereafter, Defendant No. 1 had again approached and requested the Applicant Bank to sanction Personal Loan Facility.

(OA No.730/2025)

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[AMBADAS]

Upon considering the request and financial needs of the Defendant, the Applicant Bank sanctioned Personal Loan Facility of Rs. 2,70,000/- vide, sanction letter dated 21.05.2020 on certain terms and conditions. The agreed rate of interest for aforesaid loan facility was @8.45% p.a. with monthly rests. The Defendants also agreed to pay additional interest @2% by way of liquidated damages in the event of any default in repayment.

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In order to secure the aforesaid loan facility, the Defendants executed various loan documents in favour of the Applicant Bank. These included sanction letters, demand promissory notes, registered assignment deed bearing daybook No. 58 dated 04.01.2019, housing loan agreement etc., in favour of the Applicant Bank.

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The Applicant Bank further contends that, in order to secure the aforesaid loan facilities, the Defendants executed, registered

(OA No.730/2025)

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[AMBADAS]

assignment deed bearing daybook No. 58 dated 04.01.2019 in

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respect of following property:

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All that piece and parcel of Flat No. 107 (admeasuring built up area 51.80 sq. mtrs., carpet area admeasuring area 48.92 sq. mtrs., and open balcony admeasuring 6.090 sq. mtrs.,) in Indradhanu-A, Plot No. 454 and 455, Sector G C-I, Gut No. 174 (P), Tisgaon, Tal. And Dist. Aurangabad which is bounded as under:

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East: Flat No. 108, West: Open to Sky, South: Passage, Duct, Flat No. 106, North: Open to Sky.

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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 defendants became irregular and classified as NPA on 21.07.2021. Therefore on

(OA No.730/2025)

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[AMBADAS]

03.11.2025 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 served through RPAD. Hence, defendants were proceeded ex-parte as per Order dated 07.05.2026.

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The applicant Bank has filed Claim Affidavit of evidence at Exhibit-4 of Shri. Somnath Bajrang Sasane, Chief Manager of the applicant Bank, and has produced on record the original loan transaction documents as Exh. A-1 to A-30 along with list of documents Exh.5 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.730/2025)

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[AMBADAS]

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 borrowers which is mortgaged in favour of the applicant bank.

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The applicant Bank has claimed future interest @8.40% p.a. from the date of filing i.e. 17.11.2025 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. 730/2025 is allowed with

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(B)

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costs.

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(B) The defendants shall pay jointly and severally to the applicant Bank a sum of Rs. 31,98,005/- (Rupees Thirty One Lacs, Ninety Eight Thousand, and Five only), along

(OA No.730/2025)

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[AMBADAS]

with future interest @ 8% per annum (simple) from the date of filing of the Original Application i.e. 17.11.2025 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 mortgage of the following immovable property vide documents at Exh. A-7 to A-12 in the list of documents Exh. 5

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East: Flat No. 108, West: Open to Sky, South: Passage, Duct, Flat No. 106, North: Open to Sky.

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(D) The applicant Bank is entitled to sell the mortgaged immovable property to recover its dues.

(OA No.730/2025)

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[AMBADAS]

(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:.02.07.2026 Debts Recovery Tribunal, Aurangabad

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(OA No.730/2025)

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[AMBADAS]

Bank of Maharashtra v. Mr. Ravindra Visaram Padar

Case brief

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Bank of Maharashtra v. Mr. Ravindra Visaram Padar

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