Allowed

Union Bank of India v. Mr. Sachin Nanabhau Devre

DRT20 May 2026OA/770/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an application by Union Bank of India for recovery of dues from borrowers who failed to repay a term loan secured by a mortgage of agricultural land and hypothecation of assets. The court proceeded in absentia.

What did the court decide?

Defendants to jointly and severally pay Rs. 28,67,391.82/- plus future interest at 7% per annum; Bank entitled to sell mortgaged property; Recovery Certificate issued.

Union Bank of India versus Mr. Sachin Nanabhau Devre — Contract and Commercial Disputes | DRT (2026)

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Presented on: 07.09.2024 Registered on: 24.09.2024 Decided on: 20.05.2026 Duration: Y M D 01 08 13

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IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 770/2024

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Union Bank of India,

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TOTAL CLAIM AMOUNT – Rs. 28,67,391.82/-

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A Body Corporate constituted under the Banking companies (Acquisition and Transfer of Undertakings) Act 1970, Having its Registered office at 239, Vidhan Bhavan Marg, Nariman Point, Mumbai-400021 & having branches amongst the other places at Main Branch, Dhule through its

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Authorized Person, Mr. Bhatusing Shamsing Thakur (Branch Head), Age: 40 yrs., Occ.: Service, R/o. Station Road, Dhule.

… Applicant

Versus

(OA No.770/2024)

Page 1 of 9

[AMBADAS]

1.Mr. Sachin Nanabhau Devre, Age: Major, Occu.: Agriculture R/o.: At Post Bambrule Pra. Tq. and Dist. Dhule, 424001.

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2. Mr. Kalpesh Nanabhau Devre, Age: Major, Occu.: Agriculture R/o.: At Post Bambrule Pra. Tq. and Dist. Dhule, 424001.

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3. Mr. Rajyog Nanabhau Devre, Age: Major, Occu.: Agriculture R/o.: At Post Bambrule Pra. Tq. and Dist. Dhule, 424001.

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4. Mr. Vithoba Vedu Patil, Age: Major, Occu.: Agriculture R/o.: At Post Bambrule Pra. Tq. and Dist. Dhule, 424001.

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…Defendants

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APPEARANCES

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For the Applicant For Defendants

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Mr. K. D. Pande -Advocate Ex-parte

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JUDGMENT Delivered on 20.05.2026

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The Applicant Bank has filed the present application for the

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recovery of a sum of Rs. 28,67,391.82/- (Rupees Twenty Eight Lacs,

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Sixty Seven Thousand, Three Hundred Ninety One and Eighty Two

(OA No.770/2024)

Page 2 of 9

[AMBADAS]

Paisa only), along with future interest from the date of filing of the Original Application, i.e., 07.09.2024, until the date of realization

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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 to 3 approached and requested the Applicant Bank for Term loan facility. Upon considering the request and financial needs of the Defendants, the Applicant Bank sanctioned a Term loan facility of Rs. 5,90,000/- vide sanction letter dated 29.08.2009 on certain terms and conditions. The agreed rate of interest for the aforesaid loan was @11.75% p.a. with half yearly 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 letter, registered mortgage deed bearing daybook no. 3632 dated 29.08.2009, letter of undertaking,

(OA No.770/2024)

Page 3 of 9

[AMBADAS]

demand promissory note, letter of continuity & hypothecation

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agreement. Additionally defendant No. 4 stood as guarantor for

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defendant No. 1 to 3 and executed deed of guarantee on

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31.08.2009 in favour of the Applicant Bank.

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The Applicant Bank further contends that, in order to secure the aforesaid loan facility, the Defendant No. 1 to 3 created first charge over their immovable property under daybook no. 3632 dated 29.08.2009 in favour of the Applicant Bank. The mortgage

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was created in respect of the following property-

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All that piece and parcel of Agricultural land admeasuring 03 Hector 72 R out of Gut No. 96, situated at Village Bambrule, Pra. Tq. & Dist. Dhule., which is bounded as under: East: Nala, West: Gut No. 79 & 80, South: Gut No. 97, North: Gut No. 95.

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The applicant bank further states that in order to secure the aforesaid loan facility, the defendant No. 1 to 3 also executed hypothecation agreement thereby hypothecating Tractor bearing Registration No. MH 18-Z-0129 & Trailer for tractor bearing

(OA No.770/2024)

Page 4 of 9

[AMBADAS]

registration No. MH 18 Z 0130, crops, herds, flocks, fish catch, silk worms and cocoons etc.

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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 30.09.2018. Therefore, on 29.08.2024 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.

(OA No.770/2024)

Page 5 of 9

[AMBADAS]

The defendants failed to appear in matter though they were duly served. Hence, the defendants were proceeded ex-parte as per Order dated 09.02.2026.

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The applicant Bank has filed Claim Affidavit of evidence at Exhibit-4 of Bhatusingh Shamsing Thakur, Branch Manager of the applicant Bank, and has produced on record the original loan transaction documents as Exh. A-1 to A-17 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 evidence of the applicant Bank. Therefore, the applicant Bank is entitled for the reliefs as claimed.

(OA No.770/2024)

Page 6 of 9

[AMBADAS]

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 @11.75% p. a. on term loan from the date of filing i.e. 07.09.2024 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. 770/2024 is allowed with costs.

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(B) The defendants shall pay jointly and severally to the applicant Bank a sum of Rs. 28,67,391.82/- (Rupees Twenty Eight Lacs, Sixty Seven Thousand, Three Hundred Ninety One and Eighty Two Paisa only), along with future interest @ 7% per annum (simple) from the date of filing of the Original Application i.e. 07.09.2024 till full

(OA No.770/2024)

Page 7 of 9

[AMBADAS]

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

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All that piece and parcel of Agricultural land admeasuring 03 Hector 72 R out of Gut No. 96, situated at Village Bambrule, Pra. Tq. & Dist. Dhule., which is bounded as under:

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East: Nala, West: Gut No. 79 & 80, South: Gut No. 97, North: Gut No. 95.

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(D) The applicant Bank is entitled to sell the mortgaged immovable property and hypothecated articles/goods/vehicles etc., to recover its dues.

(OA No.770/2024)

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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. Place: Aurangabad Date:.20.05.2026

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

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(OA No.770/2024)

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Page 9 of 9

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[AMBADAS]

Union Bank of India v. Mr. Sachin Nanabhau Devre

Case brief

What is this about?

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Union Bank of India v. Mr. Sachin Nanabhau Devre

Case brief

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