The Debts Recovery Tribunal allowed an application filed by Punjab National Bank for recovery of Rs. 20,87,294/- arising from a defaulted vehicle loan account, adjusted for unallowable charges, and granted future interest at 9% per annum.
Respondent to pay Rs. 20,87,294/- with future interest at 9% p.a., realization through sale of hypothecated vehicle.
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: 26.11.2019 Registered on: 18.05.2022 Decided on: 20.01.2026 Duration: Y M D 06 01 26
IN THE DEBTS RECOVERY TRIBUNAL AT PUNE (Before Shri Dilip G. Murumkar, Presiding Officer) ORIGINAL APPLICATION No.829/2022.
Punjab National Bank ,
A Body Corporate constituted under the Banking Companies (Acquisitions & Transfer of Undertakings) Act of 1970 having its Registered Office at Plot No.4, Sector 10, Dwarka, New Delhi-110075 and amongst others one of its branch at Punjab National Bank, Magarpatta City having its address at 26-27-28, Destination Centre, Magarpatta City, Pune-411 028.
… Applicant
Versus
Mrs. Manisha Nitin Tilekar Address at –
…Defendants
(OA No.829/2022)
Page 1 of 5
[ANIL]
APPEARANCES
For the Applicant Advocate Yogesh R. Hirve For the Defendant Ex-parte
TOTAL CLAIM AMOUNT –Rs.22,74,232/-.
JUDGMENT (Delivered on 20th January, 2026)
The Applicant Bank states that the Defendant approached the applicant bank on 06.10.2017 and requested for grant of Vehicle Loan.
After appraisal and scrutiny of the proposal of the defendant, Applicant Bank on 09.10.2017 granted and sanctioned vehicle loan of Rs.18,95,000/- to the defendant for purchase of Mahindra XUV W10 AT, bearing Registration No.MH-12-PZ-4374, Engine No.SPH4K 19346, Chassis No.MA1VU2SPVH6K14075.
In order to secure the aforesaid loan facility, the defendant has executed loan and security documents as set out in Para Nos.5.6 of the Original Application, in favor of the Applicant Bank.
(OA No.829/2022)
Page 2 of 5
[ANIL]
So also, the applicant bank submits that Mahindra XUV W10 AT, bearing Registration No.MH-12-PZ-4374, Engine No.SPH4K 19346, Chassis No.MA1VU2SPVH6K14075 was also hypothecated with the applicant bank and charge of the applicant bank is also noted on Certificate of Registration of the said Car.
Hence, this application is filed.
(OA No.829/2022)
Page 3 of 5
[ANIL]
(OA No.829/2022)
Page 4 of 5
[ANIL]
ORDER
(B) Defendant shall pay sum of Rs.20,87,294 /- (Rupees Twenty Lakhs Eighty Seven Thousand Two Hundred Ninety Four only] with future interest @9% p.a. (Simple) from the date of filing of the Original Application i.e. 26.11.2019 till payment/ realization of the amount mentioned in this operative order, to the applicant bank.
(C) The aforesaid adjudicated amount is secured by creation of hypothecation deed of the vehicle Mahindra XUV W10 AT, bearing Registration No. MH-12-PZ-4374, Engine No.SPH4K19346, Chassis No. MA1VU2SPVH6K14075, more particularly described in the Original Application.
(F) The Registrar is directed to send the copy of Judgment and Recovery Certificate to the Applicant Bank and the defendant.
Sd/-
Place : Pune Date: 20.01.2026
(Dilip G. Murumkar) Presiding Officer Debts Recovery Tribunal, Pune
(OA No.829/2022)
Page 5 of 5
[ANIL]
1 issue framed by the court
Whether the bank is entitled to recover outstanding dues along with interest derecognized and future interest on the vehicle loan account.
Punjab National Bank
Mrs. Manisha Nitin Tilekar
Dilip G. Murumkar
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
