Allowed

Maharastra Gramin Bank v. M/s Dnyanai Agro Processing Centre

DRT13 Jan 2026OA/83/2023

Case brief

AI extract

What is this about?

The adjudicating officer allowed the application filed by Maharashtra Gramin Bank for recovery of loan dues under the SARFAESI Act. The bank, which had sanctioned various term loans, cash credit facilities, and an ECLGS loan to the defendant, sought recovery due to the loan account becoming NPAs despite legal notices. The defendants failed to appear.

What did the court decide?

Recovery of Rs. 64,46,739/- plus future interest at 10% p.a. (simple); sale of mortgaged properties; issuance of Recovery Certificate.

Maharastra Gramin Bank versus M/s Dnyanai Agro Processing… — Execution and Attachment | DRT (2026)

¶1

Presented on: 11.03.2022 Registered on: 08.06.2023 Decided on: 13.01.2026 Duration: Y M D 03 10 02

¶2

IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 83/2023

¶3

TOTAL CLAIM AMOUNT – Rs. 64,46,739/-

¶4

Maharashtra Gramin Bank ,

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A Scheduled Commercial Bank Constituted under Section 3 of the Regional Rural Bank Act, 1976 and also a Banking Company under Section 5 © of the Banking Regulation Act, 1949 (10 of 1949) having its Head Office at Plot No. 42, Gat No. 33, Golwadi, Growth Centre, Waluj Mahanagar-IV, CIDCO, Aurangabad having its Branch at Sevali & Tal. & Dist. Jalna through Branch Manager and Principal Officer Shri. Pratik S/o. Tarasaheb Deshmukh.

… Applicant

Versus

(OA No 83/2023)

Page 1 of 10

[AMBADAS]

01. M/s. Dnyanai Agro Processing Centre Prop. Shri. Sudam S/o Tryambakrao Chepate At. Dhagi, Post Sevali, Tq. and Dist. Jalna 431 214. Property-1 Address: At Post Sevali, Tq & Dist. Jalna Property-2 Address: At. Dhagi, Post Sevali, Tq. and Dist. Jalna

¶12

02. Shri. Raosaheb S/o. Ashruba Sangale At. Dhagi, Post Sevali, Tq. and Dist. Jalna, 431 214

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03. Shri. Ramesh S/o. Sahebrao Ippar

¶14

At. Dhagi, Post Sevali, Tq. and Dist. Jalna, 431 214

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04. Smt. Latabai W/o. Sudam Chepate,

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At. Dhagi, Post Sevali, Tq. and Dist. Jalna, 431 214 Property-3 Address: At. Panegaon, Tq. Ambad Dist. …Defendants Jalna

¶17

APPEARANCES

¶18

For the Applicant Mr. J. R. Kalyankar -Advocate For Defendants Ex-parte

¶19

JUDGMENT Delivered on 13.01.2026

¶20

The Applicant Bank has filed the present application for the recovery of a sum of Rs. 64,46,739/- (Rupees Sixty Four Lacs, Forty Six Thousand, Seven Hundred and Thirty Nine only), along with future interest from the date of filing of the Original Application,

(OA No 83/2023)

Page 2 of 10

[AMBADAS]

i.e., 11.03.2022, until the date of realization of the entire outstanding dues from the Defendants.

¶25

Brief facts of the application are as under:

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The Applicant Bank states that the Defendant No. 1 had approached and requested the Applicant Bank for Term Loan Facility. Upon considering the request and financial needs of the Defendant, the Applicant Bank sanctioned Term Loan Facility of Rs. 10,00,000/- vide sanction letter dated 08.03.2018 on certain terms and conditions. The agreed rate of interest for the aforesaid loan facility was @ 12.45% p.a. with monthly rests. The Defendant also agreed to pay additional interest by way of liquidated damages in the event of any default in repayment.

¶27

That, Thereafter the Defendant No. 1 had approached and requested the Applicant Bank for Cash Credit Facility. Upon considering the request and financial needs of the Defendant, the Applicant Bank Sanctioned Cash Credit Facility of Rs. 25,00,000/-

(OA No 83/2023)

Page 3 of 10

[AMBADAS]

vide sanction letter dated 06.10.2018 on certain terms and

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conditions. The agreed rate of interest for the aforesaid loan facility was @ 12.45% p.a. with monthly rests. The Defendant also agreed to pay additional interest by way of liquidated damages in the event of any default in repayment.

¶33

That, Thereafter the Defendant had approached and requested the Applicant Bank for Enhancement of Cash Credit Facility. Upon considering the request and financial needs of the Defendant, the Applicant Bank enhanced Cash Credit Facility of Rs. 50,00,000/vide sanction letter dated 24.12.2019 on certain terms and conditions. The agreed rate of interest for the aforesaid loan facility was @ 11.70% p.a. with monthly rests. The Defendant also agreed to pay additional interest by way of liquidated damages in the event of any default in repayment.

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That, the applicant bank, in view of COVID-19 crisis, a financial assistance of Rs. 17,66,000/- as working capital term loan is

(OA No 83/2023)

Page 4 of 10

[AMBADAS]

specially extended as Emergency Credit Line Guarantee Scheme

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(ECLGS) on 31.10.2020.

¶40

In order to secure the aforesaid loan facilities, the Defendants executed various loan documents in favour of the Applicant Bank. These included sanction letters, demand promissory notes, composite agreements, and request letters, mortgage deed bearing Sr. Nos. 4365, 3765 & 3844 dated 11.12.2020, 09.10.2018 & 12.10.2018 respectively. Additionally defendant No. 2 to 4 stood as guarantors for defendant No. 1 and executed deed of guarantee in favour of the applicant bank.

¶41

The Applicant Bank further contends that, in order to secure the aforesaid loan facility, the Defendants executed mortgage deed bearing Sr. Nos. 4365, 3765 & 3844 dated 11.12.2020, 09.10.2018 & 12.10.2018 respectively. The mortgage was created in respect of the following properties:

¶42

i) All that piece and parcel of House No. 230 (New 331/4) admeasuring 495 Sq. ft., situated, at Sevali, Tq. and Dist. Jalna, which is bounded as under:

(OA No 83/2023)

Page 5 of 10

[AMBADAS]

East: Santosh Biridchand, West: Gangubai Rupchand, South: Road, North: Parasmal Nagulal.

¶47

ii) All that piece and parcel of NA land in Gat No. 215 & 26 total admeasuring 7200 Sq. Meters, situated at Dhagai, Tq. and Dist. Jalna, which is bounded as under: East: Own Land, West: Bapurao Ashruba, South: Mandabai Pandharinath, North: Road.

¶48

iii) All that piece and parcel of land in Gat No. 260 admeasuring 1.20 Hectare, situated, at Panegaon, Tq. Ambad, Dist. Jalna, which is bounded as under: East: Ramesh Gunaji, West: Pralhad T. Chepate, South: Tukaram Baburao, North: Shiv (Village Boundary).

¶49

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

(OA No 83/2023)

Page 6 of 10

[AMBADAS]

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 07.10.2021. Therefore on 15.10.2022 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.

¶54

The defendants failed to appear in matter though they were served through summons. Hence the defendants were proceeded as ex-parte as per order dated 21.11.2023.

¶55

The applicant Bank has filed Claim Affidavit of evidence at Exhibit-4 of Shri. Pratik S/o. Tarasaheb Deshmukh, Branch Head of the applicant Bank, and has produced on record the original loan transaction documents as Annexure A-1 to A-36 along with list of documents Exh.5 which corroborates the case of the applicant Bank.

(OA No 83/2023)

Page 7 of 10

[AMBADAS]

I have heard arguments of the learned Advocate for the applicant Bank.

¶60

Since the defendants failed to appear and 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.

¶61

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 @ 13.70 % p.a. from the date of filing i.e. 11.03.2022 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 @ 10% per annum (simple) on outstanding amount, it would be just and reasonable rate of interest.

(OA No 83/2023)

Page 8 of 10

[AMBADAS]

ORDER

(A) Original Application No. 83/2023 is allowed with costs.

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(B) The defendants shall pay jointly and severally to the applicant Bank a sum of Rs. 64,46,739/- (Rupees Sixty Four Lacs, Forty Six Thousand, Seven Hundred and Thirty Nine only), along with future interest @ 10% per annum (simple) from the date of filing of the Original Application i.e. 11.03.2022 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 properties vide documents at Annexure A-8, A-16 & A-25 in list of documents Exh. 5.

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i) All that piece and parcel of House No. 230 (New 331/4) admeasuring 495 Sq. ft., situated, at Sevali, Tq. and Dist. Jalna, which is bounded as under: East: Santosh Biridchand, West: Gangubai Rupchand, South: Road, North: Parasmal Nagulal.

(OA No 83/2023)

Page 9 of 10

[AMBADAS]

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

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(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)

¶80

(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:. 13.01.2026 Debts Recovery Tribunal, Aurangabad

¶83

(OA No 83/2023)

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Page 10 of 10

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[AMBADAS]

Maharastra Gramin Bank v. M/s Dnyanai Agro Processing Centre

Case brief

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Maharastra Gramin Bank v. M/s Dnyanai Agro Processing Centre

Case brief

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