The Debts Recovery Tribunal, Pune, adjudicated an application for recovery of approximately Rs. 50 lakh against borrowers and a proprietor. The court allowed the application ex-parte, reduced the claim by deducting penal interest, and decreed future interest at 9% per annum.
Defendants to pay Rs. 54,64,214 along with future interest @9% per annum from 20.12.2019.
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 .. 20.12.2019 Registered on .. 29.08.2022 Decided on .. 02.01.2026 Duration .. Y—M—D 06--00--12
IN THE DEBTS RECOVERY TRIBUNAL AT PUNE (Before Shri Dilip G. Murumkar, Presiding Officer) ORIGINAL APPLICATION No. 790/2022.
Bank of Baroda,
A Body Corporate constituted under the Banking Companies (Acquisition & Transfer of Undertakings) Act 1970 having its Head Office at Baroda House, Mandvi, Baroda 390 006 and its branch at – High School Road, Vakhar Bhag, Sangli - 416 416.
… Applicant
Versus
Sanap ( OA No. 790/2022 ) 1 of 5
Appearance :- For Applicant For Defendants
Advocate Pooja Mali for M.V. Kini and Co. Ex parte.
Total Claim Amount – Rs.55,28,841=74
JUDGMENT
(Delivered on 02nd January, 2026)
Defendant No.1 is borrower. Defendant No.2 has entered in Tripartite Agreement dated 21.02.2018 with applicant and defendant No.3 and thereby agreed to abide by certain obligation in respect of the Term Loan facility extended to defendant No.1 on the basis of pledged/hypothecated stock of goods in the custody of defendant No.2. Hence, applicant has filed this Application for recovery of dues against defendant Nos.1 and 2 and reserved its right to agitate its lawful rights arising out of Tripartite Agreement dated 21.02.2018 and Collateral Management Agreement dated 31.12.2016 against defendant No.3 according to Law.
As per the loan application of defendant No.1, the applicant Bank sanctioned the Short Term Loan of Rs.48,00,000/- to defendant No.1 vide Sanction Letter dated
Sanap ( OA No. 790/2022 ) 2 of 5
22.03.2018 to keep safe his agriculture produce and to have finance over the same against the pledge of Warehouse/Storage receipt of agriculture produce issued by defendant No.2.
In order to secure the aforesaid loan facility, defendant Nos.1 and 2 executed necessary loan and security documents along with letter of pledge and lien from warehousing Corporation, in favour of the applicant Bank.
Sanap ( OA No. 790/2022 ) 3 of 5
Sanap ( OA No. 790/2022 ) 4 of 5
Hence, I pass the following order.
O R D E R
Sd/( Dilip G. Murumkar ) Place : Pune Presiding Officer Date : 02.01.2026 Debts Recovery Tribunal, Pune.
Sanap ( OA No. 790/2022 ) 5 of 5
1 issue framed by the court
Whether the bank is entitled to a decree for recovery of dues alongside future interest at a rate of 9% per annum.
Bank of Baroda
Mr. Vidyasagar Balgonda Patil
Mr. Pradumna Balgonda Patil
CNX Corporation Limited
Dilip G. Murumkar
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
