Debts Recovery Tribunal allowed Axis Bank's original application for recovery of Rs. 47,45,591 along with future interest secured by mortgaged properties, as defendants failed to appear and contest the application.
Payment of Rs. 47,45,591 with 7% p.a. simple interest, sale of mortgaged properties, and issuance of 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: 31.08.2024 Registered on: 25.10.2024 Decided on: 29.05.2026 Duration: Y M D 01 08 29
IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 845/2024
TOTAL CLAIM AMOUNT – Rs. 47,45,591/-
AXIS Bank Ltd.
A Body Corporate, constituted and established under the Companies Act 1956 and having its Registered Office at “Trishul” 3rd Floor, Opp. Samartheshwsar Temple, Law Garden, Ellis Bridge, Ahmedabad,
AND
Its, Branch Office at “Shrivasta”, 65, Sarang Housing Society, New Gajanan Maharaj Mandir, Garkheda, Aurangabad. Through its Authorized Representative Mr. Nitin Bhausaheb Warule, Age: 32 Years, Occ.: Service having his address for communication at c/o. Axis Bank Ltd., “Shrivastava”, 65, Sarang Housing Society, Near Gajanan Maharaj Mandir, Garkheda, Aurangabad.
… Applicant
(OA No.845/2024)
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[AMBADAS]
Versus
1. Sharad Chandrakant Pawar. R/o.: At Village Kankori, Post Kankori, Tq. Gangapur, Dist. Chhatrapati Sambhajinagar.
2. Rameshwar @ Chandrakant Pawar. R/o.: At Village Kankori, Post Kankori, Tq. Gangapur, Dist. Chhatrapati Sambhajinagar.
3. Pankaj Chandrakant Pawar. R/o.: At Village Kankori, Post Kankori, Tq. Gangapur, Dist. Chhatrapati Sambhajinagar.
APPEARANCES
For the Applicant For Defendants
Mr. M.D. Narwadkar -Advocate Ex-parte
JUDGMENT
Delivered on 29.05.2026
(OA No.845/2024)
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[AMBADAS]
Brief facts of the application are as under:
(OA No.845/2024)
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[AMBADAS]
hypothecation, registered mortgage deed bearing daybook No.
4500/2022 dated 07.11.2022 etc., in favour of the Applicant Bank
created in respect of the following properties:
A] All that piece and parcel of property bearing Gut No. 201, Adm. 1-00 Ha situated at village Kankori Tq. Gangapur, Dist. Aurangabad, which is bounded as under: East: Land of Mahansingh Taji, West: Kanori-Pandharpur Road, South: Land of Sharad Pawar, North: Land of Balu Maniklal Rajput.
B] All that piece and parcel of property to the extent of 1 H 14 R from Gut No. 201, situated at village Kankori Tq. Gangapur, Dist. Aurangabad, which is bounded as under:
East: Land of Mahansingh Taji, West: Kanori-Pandharpur Road, South: Road, North: Land of Rameshwar Pawar.
keep their promise and commitments agreed by them with regard
(OA No.845/2024)
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[AMBADAS]
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 01.05.2024. Therefore, on 21.06.2024 the applicant bank issued recall Notice to the defendants. The defendants failed and neglected to repay the outstanding dues of the applicant Bank. Hence, this application is filed.
(OA No.845/2024)
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[AMBADAS]
loan transaction documents as Annexure A to M along with list of documents Exh.5 which corroborates the case of the applicant Bank.
(OA No.845/2024)
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[AMBADAS]
annum (simple) on outstanding amount, it would be just and reasonable rate of interest.
ORDER
(B) The defendants shall pay jointly and severally to the applicant Bank a sum of Rs. 47,45,591/- (Rupees forty Seven Lacs, Forty Five Thousand, Five Hundred and Ninety One only), along with future interest @ 7% per annum (simple) from the date of filing of the Original Application i.e. 31.08.2024 till full payment/realization of the amount mentioned in this operative order.
(C) The aforesaid adjudicated amount is secured by the mortgage of the following vide document at Annexure D in list of documents Exh. 5.
A] All that piece and parcel of property bearing Gut No. 201, Adm. 1-00 Ha situated at village Kankori Tq. Gangapur, Dist. Aurangabad, which is bounded as under: East: Land of Mahansingh Taji, West: Kanori-Pandharpur Road, South: Land of Sharad Pawar,
(OA No.845/2024)
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[AMBADAS]
North: Land of Balu Maniklal Rajput.
B] All that piece and parcel of property to the extent of 1 H 14 R from Gut No. 201, situated at village Kankori Tq. Gangapur, Dist. Aurangabad, which is bounded as under: East: Land of Mahansingh Taji, West: Kanori-Pandharpur Road, South: Road, North: Land of Rameshwar Pawar.
(G) File be consigned to the record room.
Sd/-
Pronounced in open court. Place: Aurangabad Date:.29.05.2026
(Dr. J. R. Chauhan) Presiding Officer Debts Recovery Tribunal, Aurangabad
(OA No.845/2024)
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[AMBADAS]
AXIS Bank Ltd.
Sharad Chandrakant Pawar
Rameshwar @ Chandrakant Pawar
Pankaj Chandrakant Pawar
Dr. J. R. Chauhan
As recorded by the court registry
2 orders share this CNR
Judgements on the same questions, provisions and authorities, from every court
