Allowed

Bank of Maharashtra v. Satish

DRT16 Apr 2026OA/83/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the Bank of Maharashtra's application for recovery of dues aggregating Rs. 20,94,098/-. The court awarded future interest at 9% per annum and empowered the bank to sell mortgaged agricultural land, though it declined specific execution relief for hypothecated assets due to lack of detail.

What did the court decide?

Payment of Rs. 20,94,098/ with future interest @9% p.a.; power to sell mortgaged land; issue of Recovery Certificate.

Bank of Maharashtra versus Satish — Execution and Attachment | DRT (2026)

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Presented on .. 31.07.2021 Registered on .. 18.01.2024 Decided on .. 16.04.2026 Duration .. Y—M—D 04--08--16

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IN THE DEBTS RECOVERY TRIBUNAL AT PUNE (Before Shri Dilip G. Murumkar, Presiding Officer) ORIGINAL APPLICATION No. 83/2024.

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Bank of Maharashtra,

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A Banking Company Incorporated under the Banking Companies (Acquisition and Transfer of Undertakings) Act V of 1970, having its head office at ―Lokmangal‖, 1501, Shivajinagar, Pune – 411 005 and one of its branch office at – Sansar, Taluka Indapur, District Pune 413 104.

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… Applicant

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Versus

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1 Mr. Satish Balaso Pawar, Age 42 years, Occ. Agriculture, R/at : Shindewadi, Post Kazad, Taluka Indapur, District Pune 413104.

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2 Mr. Sanjay Hari Malve, Age 49 years, Occ. Agriculture, R/at : Shindewadi, Post Kazad, Taluka Indapur, District Pune 413104.

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3 Mr. Shahaji Hari Malve, Age 51 years, Occ. Agriculture,

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R/at : Shindewadi, Post Kazad, Taluka Indapur, District Pune 413104.

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… Defendants

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Sanap ( OA No. 83/2024 ) 1 of 5

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Appearances :- For Applicant Advocate Ashok Tamboli. For Defendants Ex parte.

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Total Claim Amount – Rs.20,94,098/-

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JUDGMENT

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( Delivered on 16^th April, 2026 )

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The Applicant Bank has filed the present application for recovery of the sum of Rs.20,94,098/- together with future interest @12% per annum from the date of Application till realization of the entire dues from the defendants.

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Brief facts of the application are as under :-

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As per the loan application of defendant No.1, the applicant Bank sanctioned the following loan facilities to defendant No.1.

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	Name of facility	Amount Rs.	Date of Sanction
1	MKCC	6,80,000/-	05.07.2013
2	Term Loan	2,50,000/-	06.09.2013
3	MKCC	10,99,000/-	07.07.2014

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Defendant Nos. 2 and 3 stood guarantors for the repayment of loan facilities availed by defendant No.1.

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In order to secure the aforesaid loan facility, the defendants have executed necessary loan and security documents in favour of the applicant Bank. Defendant

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Sanap ( OA No. 83/2024 ) 2 of 5

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No.1 has also executed deed of hypothecation and simple mortgage in favour of the applicant Bank in respect of all those pieces and parcels of Agricultural land bearing Gat No. 420/4 admeasuring 00H 63Ares and Gat No. 439 (pt) admeasuring 00H 84Ares situated at Shindewadi, Taluka Indapur, District Pune.

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The applicant Bank contended that the defendants committed defaults in payment of installments and failed to regularize the accounts. Therefore, on 30.06.2019, the applicant Bank has classified the account of the defendants as Non-Performing Asset in accordance with guidelines of Reserve Bank of India. Thereafter, on 15.07.2019, the applicant Bank issued legal Notice to the defendants. Despite service of Notice, the defendants failed and neglected to pay the outstanding dues of the applicant Bank.

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Hence, this application is filed.

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The defendants failed to appear despite service of summons. Hence, the application proceeded ex-parte against the defendants as per Order dated 03.07.2025 passed below Application (Exhibit-1).

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The applicant Bank has filed Claim Affidavit of evidence (Exhibit-6) of Mr. Pankaj Kumar Shrivastav, Branch Manager of the applicant Bank, and has produced on

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Sanap ( OA No. 83/2024 ) 3 of 5

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record the original loan transaction documents at Sr. Nos. AW1-1 to AW1-41 along with list (Exhibit 7), 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 contest the application, I find no reason to disbelieve evidence of the applicant Bank. Therefore, the applicant Bank is entitled for reliefs as claimed.

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The applicant Bank has claimed relief in respect of hypothecated assets. However, there is no detailed description with respect to the hypothecated assets, therefore, the relief in terms of hypothecated assets cannot be granted.

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The applicant Bank has claimed future interest @12% per annum. However, considering the facts of the case, I am of the opinion that if future interest is granted @9% per annum (simple), it would be just and reasonable rate of interest.

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Hence, I pass the following order.

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O R D E R

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A} Original Application No. 83/2024 is allowed with costs.

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B} Defendant Nos.1 to 3 either jointly or severally shall pay to

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the applicant Bank the sum of Rs.20,94,098/- (Rupees

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Sanap ( OA No. 83/2024 ) 4 of 5

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Twenty Lakh Ninety Four Thousand Ninety Eight only) along with future interest @9% per annum from the date of filing of the Original Application i.e. 31.07.2021 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 valid and subsisting mortgage in respect of all those pieces and parcels of Agricultural land bearing Gat No. 420/4 admeasuring 00H 63Ares and Gat No. 439 (pt) admeasuring 00H 84Ares situated at Shindewadi, Taluka Indapur, District Pune, more particularly described in the Para No. 5.9 and 5.10 of the Original Application.

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D} The applicant Bank is entitled to sell the mortgaged property to recover its dues.

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E} Issue Recovery Certificate.

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F} The Registrar is directed to send the copy of Judgment and Recovery Certificate to the applicant and defendants.

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Sd/( Dilip G. Murumkar ) Place : Pune Presiding Officer Date : 16.04.2026 Debts Recovery Tribunal, Pune.

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Sanap ( OA No. 83/2024 ) 5 of 5

Bank of Maharashtra v. Satish

Case brief

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Bank of Maharashtra v. Satish

Case brief

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