Allowed

Bank of Maharashtra v. Abhishek

DRT2 Jul 2026OA/905/2023

Case brief

AI extract

What is this about?

In an ex-parte recovery application, the Debts Recovery Tribunal allowed the bank's claim for outstanding dues, adjusted penal interest, and approved future interest at 9% per annum, while securing the amount against a registered mortgage on agricultural land.

What did the court decide?

Defendants jointly or severally to pay Rs. 22,90,210/- plus future interest at 9% p.a. from filing date; mortgaged property made available for realization; Recovery Certificate issued.

Bank of Maharashtra versus Abhishek — Contract and Commercial Disputes | DRT (2026)

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Presented on .. 14.10.2022 Registered on .. 03.06.2023 Decided on .. 02.07.2026 Duration .. Y—M—D 03--08--18

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IN THE DEBTS RECOVERY TRIBUNAL AT PUNE (Before Shri Dilip G. Murumkar, Presiding Officer) ORIGINAL APPLICATION No. 905/2023.

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Bank of Maharashtra,

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A Body corporate established under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, having its head office at ―Lokmangal‖, 1501, Shivajinagar, Pune – 411 005 and one of its branch office at – Desai Building, Bazar Peth, Pawas, District Ratnagiri 415 616.

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… Applicant

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Versus

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1 Shri Abhishek Pramod Vaidya, Age Adult, Occ. Agriculture, R/at – 285, Rameshwarwadi, At and Post Nakhare, Taluka Ratnagiri, District Ratnagiri 415 616.

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2 Shri Purshottam Vinayak Vaidya, Age Adult, Occ. Agriculture, R/at – 285, Rameshwarwadi, At and Post Nakhare, Taluka Ratnagiri, District Ratnagiri 415 616.

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3 Shri Abhijit Pramod Vaidya, Age Adult, Occ. Agriculture,

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Sanap ( OA No. 905/2023 ) 1 of 5

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R/at – 285, Rameshwarwadi, At and Post Nakhare, Taluka Ratnagiri, District Ratnagiri 415 616.

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4 Shri Vijay Shantaram Chavan, Age Adult, Occ. Agriculture, R/at – 495, Borbhatalwadi, At and Post Nakhare, Taluka Ratnagiri, District Ratnagiri 415 616. … Defendants

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Appearances :-

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For Applicant Advocate R.B. Ganbote. For Defendants Ex parte.

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Total Claim Amount – Rs.23,82,858/JUDGMENT (Delivered on 02^nd July, 2026)

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The Applicant Bank has filed the present application for recovery of the sum of Rs.23,82,858/- 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 Nos.1 and 2, the applicant Bank sanctioned and disbursed the Mahabank Kisan Credit Card facility of Rs.15,00,000/- to defendant Nos.1 and 2 vide Sanction Letter dated 07.10.2012. Defendant Nos. 3 and 4 offered themselves as guarantors for securing of loan availed by defendant Nos. 1 and 2.

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Sanap ( OA No. 905/2023 ) 2 of 5

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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 No. 2 has also executed registered ‗E‘ Karar (declarative mortgage) on 04.10.2012 in favour of the applicant Bank in respect of all that piece and parcel of agriculture land bearing Gat No. 1781 admeasuring 4H 91R plus PK 1H 48R at village Nakhare, Taluka and District Ratnagiri.

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The defendants have also executed Balance and Security Confirmation Letters on 22.09.2015, 28.07.2017 and 30.08.2021 in favour of the applicant Bank and confirmed the balance outstanding in loan account.

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The applicant Bank contended that the defendants committed defaults in payment of installments and failed to regularize the accounts. Therefore, the applicant Bank has classified the account of the defendants as NonPerforming Asset in accordance with guidelines of Reserve Bank of India. Despite demand of payment, the defendants failed and neglected to pay the outstanding dues of the applicant Bank. 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 04.11.2025 passed below Application (Exhibit-1).

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Sanap ( OA No. 905/2023 ) 3 of 5

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The applicant Bank has filed Claim Affidavit of evidence (Exhibit-6) of Mr. Gaurav Yashwant Deshpande, Senior Manager and Principal Officer of the applicant Bank, and has produced on record the original loan transaction documents at Sr. Nos. AW1-1 to AW1-14 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 Penal Interest of Rs.92,648/-, which cannot be granted and the same is required to be deducted from the total claim amount. Therefore, the total claim amount of Rs.23,82,858/- is reduced to Rs.22,90,210/-.

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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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Sanap ( OA No. 905/2023 ) 4 of 5

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O R D E R

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A} Original Application No. 905/2023 is allowed with costs.

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B} Defendant Nos.1 to 4 either jointly or severally shall pay to the applicant Bank the sum of Rs.22,90,210/- (Rupees Twenty Two Lakh Ninety Thousand Two Hundred Ten only) along with future interest @9% per annum from the date of filing of the Original Application i.e. 14.10.2022 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 valid and subsisting mortgage in respect of all that piece and parcel of agriculture land bearing Gat No. 1781 admeasuring 4H 91R plus PK 1H 48R at village Nakhare, Taluka and District Ratnagiri, more particularly described in the Para No. 5.7 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 : 02.07.2026 Debts Recovery Tribunal, Pune.

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Sanap ( OA No. 905/2023 ) 5 of 5

Bank of Maharashtra v. Abhishek

Case brief

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Bank of Maharashtra v. Abhishek

Case brief

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