Allowed

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

DRT17 Jan 2026OA/84/2023

Case brief

AI extract

What is this about?

In an application by Maharashtra Gramin Bank for recovery of a term loan defaulting by the defendants, the tribunal allowed the claim ex-parte due to the respondents' absence. It decreed payment of the principal sum plus future interest at 9% per annum and authorized the sale of mortgaged properties to recover the dues. No external statutes were applied by the court.

What did the court decide?

Recovery of Rs. 60,11,556/- with future interest at 9% p.a.; charge on mortgaged properties; entitlement to sell mortgaged properties; issuance of recovery certificate.

Maharastra Gramin Bank versus M/s Dnyanai Agro… — Contract and Commercial Disputes | DRT (2026)

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Presented on: 28.11.2022 Registered on: 08.06.2023 Decided on: 17.01.2026 Duration: Y M D 03 00 19

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IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 84/2023

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TOTAL CLAIM AMOUNT – Rs. 60,11,556/-

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Maharashtra Gramin Bank ,

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A Scheduled Commercial Bank Constituted under

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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 and having its Branch at Sevali & q/ & Dist. Jalna through Branch Manager and Principal Officer Shri. Pratik S/o. Tarasaheb Deshmukh.

… Applicant

(OA No 84/2023)

Page 1 of 8

[AMBADAS]

Versus

1. 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. & Dist. Jalna.

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

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…Defendants

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03. Shri. Ramesh S/o. Sahebrao Ippar, At Dhagi, Post Sevali, Tq. and Dist. Jalna 431 214

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APPEARANCES

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

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JUDGMENT

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Delivered on 17.01.2026

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The Applicant Bank has filed the present application for the recovery of a sum of Rs. 60,11,556/- (Rupees Sixty Lacs, Eleven Thousand, Five Hundred and Fifty Six only), along with future interest from the date of filing of the Original Application, i.e., 28.11.2022, until the date of realization of the entire outstanding

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dues from the Defendants.

(OA No 84/2023)

Page 2 of 8

[AMBADAS]

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 of Rs. 50,00,000/- 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.

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In order to secure the aforesaid loan facility, the Defendant executed various loan documents in favour of the Applicant Bank. These included sanction letter, demand promissory note, composite deed of simple mortgage, request letter, simple mortgage deed bearing Sr. No. 1052 dated 19.03.2018 etc. Additionally defendant No. 2 & 3 stood as guarantors for

(OA No 84/2023)

Page 3 of 8

[AMBADAS]

defendant No. 1 and executed deed of guarantee in favour of the applicant bank.

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The Applicant Bank further contends that, in order to secure the aforesaid loan facility, the Defendant created first charge over his immovable property by executing simple mortgage deed bearing

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Sr. No. 1052 dated 19.03.2018. The mortgage was created in

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respect of the following properties:

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

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East: Shri. Arun Borde West: Shri. Parasmal Sakla South: Road, North: Satyanarayan Sakla.

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ii) All that piece and parcel of NA Land in Gat No. 215 & 216 total admeasuring 7200 Sq. ft. situated at village Dhagi, Tq. and Dist. Jalna, which is bounded as under: East: Karbhari Ramchandra West: Bapurao Ashruba South: Raosaheb Ashruba, North: Road.

(OA No 84/2023)

Page 4 of 8

[AMBADAS]

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 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.

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The defendants failed to appear in matter though they were duly served. Hence, the defendants were proceeded ex-parte as per Order dated 30.12.2023.

(OA No 84/2023)

Page 5 of 8

[AMBADAS]

The applicant Bank has filed Claim Affidavit of evidence at Exhibit-4 of Shri. Pratik Tarasaheb Deshmukh, Branch Manager of the applicant Bank, and has produced on record the original loan transaction documents as Annexure A-1 to A-21 along with list of documents Exh.5 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 the unrebutted evidence of the applicant Bank. Therefore, the applicant Bank is entitled for the reliefs as claimed.

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The applicant Bank has claimed charge over immovable properties of the borrower which are mortgaged in favour of the applicant bank.

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The applicant Bank has claimed future interest @ 12.45 % p.a. from the date of filing i.e. 28.11.2022 of this application till

(OA No 84/2023)

Page 6 of 8

[AMBADAS]

realization of the claim amount. However, considering the facts of the case, I am of the opinion that if future interest is granted @

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9% per annum (simple), it would be just and reasonable rate of interest.

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ORDER

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(A) Original Application No. 84/2023 is allowed with costs.

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(B) The defendants shall pay jointly and severally to the applicant Bank a sum of Rs. 60,11,556/- (Rupees Sixty Lacs, Eleven Thousand, Five Hundred and Fifty Six only), along with future interest @ 9% per annum (simple) from the date of filing of the Original Application i.e. 28.11.2022 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 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 village sevali, which is bounded as under:

(OA No 84/2023)

Page 7 of 8

[AMBADAS]

East: Shri. Arun Borde West: Shri. Parasmal Sakla South: Road, North: Satyanarayan Sakla.

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(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)

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(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:. 17.01.2026 Debts Recovery Tribunal, Aurangabad

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(OA No 84/2023)

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Page 8 of 8

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[AMBADAS]

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

Case brief

What is this about?

What did the court decide?

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

Case brief

What is this about?

What did the court decide?

What the court decided

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