Debts Recovery Tribunal allowed an application for recovery of an outstanding loan of Rs. 13,39,674 along with interest. The Tribunal rejected the claim to attach property due to lack of a mortgage deed and modified the claimed interest rate to 9% per annum.
Defendants to pay Rs. 13,39,674 with future interest at 9% p.a.; issue Recovery Certificate.
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: 29.08.2018 Registered on: 21.06.2022 Decided on: 02.01.2026 Duration: Y M D 07 04 04
IN THE DEBTS RECOVERY TRIBUNAL AT PUNE (Before Shri Dilip G. Murumkar, Presiding Officer) ORIGINAL APPLICATION No.828/2022.
BANK OF INDIA ,
A Body corporate constituted under the provisions of Banking Companies (Acquisition and Transfer of Undertakings) Act,1970 having its Head Office at Star House C-5, G - Block, Bandra Kurla Complex, Bandra (East), Mumbai-400 051, having branch at Post Kurul, Taluka Mohol, District Solapur-413 213, known as Kurul Branch. Versus
1. Mr. Bapu Devrao Malekar
R/at Post Bhatewadi, Taluka Patoda, District Beed-413 229.
2. M/s Bhima Sahakari Sakhar Karkhana Ltd. Takli Sikandar, Address- At Takali Sikandar, Taluka-Mohol, District Solapur-413 248.
3. Mr. Sarjerao Vitthal Panhalkar R/at Post Bhatewadi, Taluka Patoda, District Beed-413 229.
… Defendants
APPEARANCES
For the Applicant Mr. VSSP Sarma - Advocate. For the Defendants Ex parte.
TOTAL CLAIM AMOUNT–Rs.13,39,674/-.
(OA No.828/2022)
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[ANIL]
JUDGMENT (Delivered on 2nd January, 2026)
Defendant No.1 is a Principal Borrower and recipient of the Loan Facility granted by the Applicant Bank and Defendant No.2 is M/s Bhima Sahakari Sakhar Karkhana Ltd. engaged in the business of manufacturing of Sugar and services of Harvesting and Transport Contractors in every Crushing Season.
Defendant No.2 on 09.06.2015 approached to the Applicant Bank requesting to grant loan of Rs.33.92 Crore to the individual contractors for Crushing Season 2015-2016. The Applicant Bank sanctioned aggregate /cumulative clean demand loan limit of Rs.24.96 Crores for harvesting & transportation to Defendant No.2 for Crushing Season 2015-16, on certain terms and conditions.
Upon the request of Defendant No.1, the Applicant Bank has sanctioned him Harvesting and Transport Finance/Demand Loan of Rs.09,60,000/-, vide Sanction Letter dated 01.09.2015. Defendant No.1 has executed following security documents for due repayment of the said loan facility i.e. Demand Promissory Note, Declaration,
(OA No.828/2022)
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[ANIL]
Agreement/Letter of authority, Consent-cum-undertaking and Composite Undertaking etc.
Defendant No.2 through its Director, Executive Director & Vice Chairman has given stamped undertaking regarding H & T advance for the season 2015-16, repayable by July 2016.
Defendant No.3 has executed and delivered a Deed of Guarantee dated 01.09.2015 and thereby guaranteed repayment of the dues under the aforesaid facilities to the Applicant Bank.
Defendant No.2 was to recover the dues of the Applicant Bank from Defendant No.1’s Harvesting and Transport Bill payable to him and the same was to be deposited in the Loan Account of Defendant No.1 with the Applicant Bank.
Hence, this application is filed.
(OA No.828/2022)
Page 3 of 5
[ANIL]
(OA No.828/2022)
Page 4 of 5
[ANIL]
Hence, I pass following order :-
ORDER
Sd/Place: Pune (Dilip G. Murumkar) Date: 02.01.2026 Presiding Officer, Debts Recovery Tribunal, Pune.
(OA No.828/2022)
Page 5 of 5
[ANIL]
3 issues framed by the court
Whether the applicant bank is entitled to recover the outstanding loan amount and future interest as claimed.
Whether the application for attachment and sale of immovable property without a mortgage deed should be granted.
What rate of future interest is reasonable for the availed loan facility.
1 provisions across 1 enactments
Bank of India
Mr. Bapu Devrao Malekar
M/s Bhima Sahakari Sakhar Karkhana Ltd.
Mr. Sarjerao Vitthal Panhalkar
Dilip G. Murumkar
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
