Debts Recovery Tribunal allowed the bank's application for recovery of Rs. 21,55,248/- plus future interest from three respondents who were borrowers and guarantors under a KCC loan facility, following an ex-parte hearing.
Defendants to pay Rs. 21,55,248/- plus 9% future interest, mortgage declared valid, and recovery certificate issued.
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Presented on .. 08.08.2022 Registered on .. 24.01.2023 Decided on .. 20.07.2026 Duration .. Y—M—D 03--11--12
IN THE DEBTS RECOVERY TRIBUNAL AT PUNE (Before Shri Dilip G. Murumkar, Presiding Officer) ORIGINAL APPLICATION No. 89/2023.
The South Indian Bank Limited, A Banking Company within the meaning of Banking Regulation Act, constituted under the Companies Act, 1913 and having its registered office at SIB House, T.B. Road, Mission Quarters, Thrissur, Kerala State 680001 and having one of its branch at Shop No. 1, 2, 3, Infinity Plaza, Siddhivinayak Nagar, Shivajinagar P.O. Ratnagiri 415 612.
… Applicant
Versus
Appearances :-
For Applicant Advocate Yogesh Hirve. For Defendants Ex parte.
Sanap ( OA No.89/2023 ) 1 of 5
Total Claim Amount – Rs.21,55,248/-
JUDGMENT (Delivered on 20th July, 2026)
As per the loan application of defendant No.1 and his deceased brother Mr. Sumit Dilip Powar, the applicant Bank sanctioned and disbursed the KCC loan facility of Rs.14,00,000/- to defendant No.1 and deceased Sumit Powar for cultivation of land vide Intimation Letter dated 13.12.2016. Defendant Nos.2 and 3 stood guarantors for the repayment of loan availed by defendant No.1 and deceased Sumit Powar. Defendant No.2 is mortgagor as well as legal heir of deceased Sumit Powar being his mother.
In order to secure the aforesaid loan facility, the defendants have executed necessary loan and security documents in favour of the applicant Bank. Defendant
Sanap ( OA No.89/2023 ) 2 of 5
Nos.1 and 2 and deceased Sumit Powar have created security interest on 14.12.2016 in favour of the applicant Bank by way of mortgage by deposit of title deed (equitable mortgage) of Agricultural land admeasuring 73R bearing Survey No. 66/14 at village Tonade, Taluka and District Ratnagiri.
The defendants have also executed Letter of Balance and Security Confirmation on 14.08.2019 in favour of the applicant Bank and thereby confirmed the balance outstanding in loan account.
Sanap ( OA No.89/2023 ) 3 of 5
against the defendants as per Order dated 12.03.2026 passed below Application (Exhibit-1).
Hence, I pass the following order.
O R D E R
A} Original Application No. 89/2023 is allowed with costs.
Sanap ( OA No.89/2023 ) 4 of 5
Sd/( Dilip G. Murumkar ) Place : Pune Presiding Officer Date : 20.07.2026 Debts Recovery Tribunal, Pune.
Sanap ( OA No.89/2023 ) 5 of 5
1 issue framed by the court
Whether the applicant bank is entitled to recover the outstanding loan dues along with interest from the defendants.
1 provisions across 1 enactments
The South Indian Bank Limited
Mr. Sushil Dilip Powar
Smt. Dipa Dilip Powar
Mrs. Sanskruti Sushil Powar
Dilip G. Murumkar
As recorded by the court registry
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