Allowed

Union Bank of India v. Mr. Shrirang Mahadev Sudrik

DRT19 Jun 2026OA/911/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the Original Application filed by Union Bank of India to recover a sum of Rs. 23,03,521/- from four respondents, including borrowers and guarantors, along with future interest at 7% per annum, secured by mortgaged agricultural properties.

What did the court decide?

Defendants to pay Rs. 23,03,521/- plus future interest at 7% p.a. simple; applicant entitled to sell mortgaged properties to recover dues.

Union Bank of India versus Mr. Shrirang Mahadev Sudrik — Specific Performance | DRT (2026)

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Presented on: 22.11.2024 Registered on: 12.12.2024 Decided on: 19.06.2026 Duration: Y M D 01 06 27

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IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 911/2024

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TOTAL CLAIM AMOUNT – Rs. 23,03,521/-

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Union Bank of India,

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A Body Corporate constituted under the Banking companies (Acquisition & Transfer of Undertakings) Act 1970, Having its Registered office at 239, Vidhan Bhavan Marg, Nariman Point, Mumbai-400021 & having branches amongst the other places at Rashin, Tq. Karjat, Dist. Ahmednagar through its Authorized Person, Mr. Harish Anil Raut (Branch Manager), Age: 34 yrs., Occ.: Service, R/o. Rashin, Tq. Karjat, Dist. Ahmednagar 413710

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… Applicant

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Versus

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1. Mr. Shrirang Mahadev Sudrik, Age: Major, Occ.: Agri. R/o.: At Post Baradgaon Sudrik, Tq. Karjat, Dist. Ahmednagar, 414403.

(OA No.911/2024)

Page 1 of 11

[AMBADAS]

2. Mr. Subhash Shrirang Sudrik,

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Age: Major, Occ.: Agri. R/o.: At Post Baradgaon Sudrik, Tq. Karjat, Dist. Ahmednagar, 414403.

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3. Mr. Sanjay Jalinder Sudrik,

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Age: Major, Occ.: Agri. R/o.: At Post Baradgaon Sudrik, Tq. Karjat, Dist. Ahmednagar, 414403.

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4. Mr. Anil Babasaheb Kamble,

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Age: Major, Occ.: Agri. R/o.: At Post Baradgaon Sudrik, Tq. Karjat, Dist. Ahmednagar, 414403.

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…Defendants

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APPEARANCES

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For the Applicant For Defendants

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Mr. K. D. Pande -Advocate Ex-parte

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JUDGMENT Delivered on 19.06.2026

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The Applicant Bank has filed the present application for the recovery of a sum of Rs. 23,03,521/- (Rupees Twenty Three Lacs, Three Thousand, Five Hundred and Twenty One only), along with future interest from the date of filing of the Original Application, i.e., 22.11.2024, until the date of realization of the entire outstanding dues from the Defendants.

(OA No.911/2024)

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[AMBADAS]

Brief facts of the application are as under:

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The Applicant Bank states that the Defendant No. 1 approached and requested the Applicant Bank to sanction Term Loan Facility. Upon considering the request and financial needs of the Defendant, the Applicant Bank Sanctioned Term loan facility of Rs. 11,50,000/- for laying of pipelines in his farm vide sanction letter dated 27.06.2013 on certain terms and conditions. The agreed rate of interest for the aforesaid loan was @12.75% p.a. with half yearly rests. The Defendants also agreed to pay additional interest @ 2% by way of liquidated damages in the event of any default in repayment. The defendant No. 2 and 3 stood as guarantors for defendant No. 1.

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That, thereafter, the Defendant No. 1 & 2 approached and requested the Applicant Bank to sanction another Term Loan Facility. Upon considering the request and financial needs of the Defendant, the Applicant Bank Sanctioned Term loan facility of

(OA No.911/2024)

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[AMBADAS]

Rs. 8,00,000/- vide sanction letter dated 18.01.2017 on certain

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terms and conditions. The agreed rate of interest for the aforesaid loan was @12.45% p.a. with half yearly rests. The Defendants also agreed to pay additional interest @2% by way of liquidated damages in the event of any default in repayment.

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In order to secure the aforesaid loan facilities, the Defendants executed various loan documents in favour of the Applicant Bank. These included sanction letter, Declaration (Annusuchi) u/s. 5(1) of The Maharashtra Provision of Facilities for Agriculture Credit by Banks Act, 1974 dated 09.07.2013 & 21.01.2017, letter of undertaking, demand promissory note, & hypothecation agreement. Additionally defendant No. 3 & 4 stood as guarantors for defendant No. 1 & 2 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 No. 1 to 4 created first charge over their immovable property by executing Declaration

(OA No.911/2024)

Page 4 of 11

[AMBADAS]

(Annusuchi) u/s. 5(1) of The Maharashtra Provision of Facilities for Agriculture Credit by Banks Act, 1974 dated 09.07.2013 & 21.01.2017 in favour of the Applicant Bank. The mortgage was created in respect of the following properties-

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i) All that piece and parcel of Agricultural land admeasuring 3 H 95 R, P.K. 0 H 40 R, out of Gut No. 107, situated at Village Baradgaon Sudrik, Tq. Karjat, Dist. Ahmednagar., which is bounded as under. East: Gut No. 103, 104, West: Gut No. 111, South: Gut No. 108, North: Gut No. 106.

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ii) All that piece and parcel of Agricultural land admeasuring 0 H 07 R, P.K. 0 H 60 R, out of Gut No. 58, situated at Village Baradgaon Sudrik, Tq. Karjat, Dist. Ahmednagar., which is bounded as under. East: Gut No. 57, West: Gut No. 48, South: Gut No. 55, North: Gut No. 59.

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iii) All that piece and parcel of Agricultural land admeasuring 0 H 60 R, out of Gut No. 629/1, situated at Village Baradgaon Sudrik, Tq. Karjat, Dist. Ahmednagar., which is bounded as under. East: Gut No. 618, West: Gut No. 630, South: Road, North: Gut No. 128.

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iv) All that piece and parcel of Agricultural land admeasuring 1 H 11 R, P.K. 0 H 70 R, out of Gut No. 59, situated at Village Baradgaon Sudrik, Tq. Karjat, Dist. Ahmednagar., which is bounded as under.

(OA No.911/2024)

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[AMBADAS]

East: Gut No. 91, West: Gut No. 48, South: Gut No. 58, 57, North: Gut No. 60.

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v) All that piece and parcel of Agricultural land admeasuring 0 H 18 R, P.K. 0 H 26 R, out of Gut No. 52/1, situated at Village Baradgaon Sudrik, Tq. Karjat, Dist. Ahmednagar., which is bounded as under. East: Gut No. 55, West: Gut No. 125, South: Gut No. 53, North: Gut No. 48.

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vi) All that piece and parcel of Agricultural land admeasuring 0 H 34 R, out of Gut No. 97/2 (P), situated at Village Baradgaon Sudrik, Tq. Karjat, Dist. Ahmednagar., which is bounded as under. East: Gut No. 98, West: Gut No. 96, South: Gut No. 100, North: Gut No. 87.

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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

(OA No.911/2024)

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[AMBADAS]

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 31.05.2023. Therefore, on 08.11.2024 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 appeared in matter but failed to file written statement. Hence, the right of defendants to file written statement stands closed and they are proceeded without WS as per Order dated 20.03.2026.

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The applicant Bank has filed Claim Affidavit of evidence at Exhibit-4 of Harish Anil Raut, Branch Manager of the applicant Bank, and has produced on record the original loan transaction documents as Exh. A-1 to A-24 along with list of documents Exh.5 which corroborates the case of the applicant Bank.

(OA No.911/2024)

Page 7 of 11

[AMBADAS]

I have heard arguments of the learned Advocate for the applicant Bank.

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Since the defendants failed to appear and did not 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 borrowers which are mortgaged in favour of the applicant bank.

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The applicant Bank has claimed future interest @12.75% p. a. from the date of filing i.e. 22.11.2024 of this application till realization of the claim amount. However, considering the facts of the case, I am of the opinion that if future interest is granted @ 7% per annum (simple) on outstanding amount, it would be just and reasonable rate of interest.

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ORDER

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(A) Original Application No. 911/2024 is allowed with

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costs.

(OA No.911/2024)

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[AMBADAS]

(B) The defendants shall pay jointly and severally to the applicant Bank a sum of Rs. 23,03,521/- (Rupees Twenty Three Lacs, Three Thousand, Five Hundred and Twenty One only), along with future interest @ 7% per annum (simple) from the date of filing of the O.A. i.e. 22.11.2024 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 Declaration (Annusuchi) u/s. 5(1) of The Maharashtra Provision of Facilities for Agriculture Credit by Banks Act, 1974 dated 09.07.2013 & 21.01.2017 at Exh. A-9

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and A-18 in list of documents Exh. 5.

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ii) All that piece and parcel of Agricultural land admeasuring 0 H 07 R, P.K. 0 H 60 R, out of Gut No. 58,

(OA No.911/2024)

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[AMBADAS]

situated at Village Baradgaon Sudrik, Tq. Karjat, Dist. Ahmednagar., which is bounded as under. East: Gut No. 57, West: Gut No. 48, South: Gut No. 55, North: Gut No. 59.

(OA No.911/2024)

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[AMBADAS]

(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) File be consigned to the record room.

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Sd/-

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Pronounced in open court. Place: Aurangabad Date:.19.06.2026

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(Dr. J. R. Chauhan) Presiding Officer Debts Recovery Tribunal, Aurangabad

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(OA No.911/2024)

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Page 11 of 11

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[AMBADAS]

Union Bank of India v. Mr. Shrirang Mahadev Sudrik

Case brief

What is this about?

What did the court decide?

Union Bank of India v. Mr. Shrirang Mahadev Sudrik

Case brief

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