applicant bank vide his request letter dated 24.8.2017, for overdraft facilities of rs.15 lakh by way of open cash credit as working capital for above noted business. After considering the proposal of the defendants the applicant bank sanctioned vide sanction letter dated 23.8.2017 term loan to the extent of Rs.15 lakh only and open cash credit limit of Rs. 15 lakh as a working capital to the defendants subject to their acceptance of the terms and conditions as stated in the sanction letter. The defendants executed the various loan documents i.e. cash credit agreement, deed of hypothecation. As the acc loan facilities were given under the scheme of MSME unnati under which running limit was for two years and accordingly the open cash credit facility was renewed on the basis of letter of renewal dated 29.8.2019 submitted by the defendant no. 2. Due to Covid-19 outbreak, the defendant no. 2 again applied for credit facilities of rs.1,50,000/- for her above noted business on 21.5.2020 as a demand loan under the scheme of under Canara Credit support to covid19 affected customer scheme for above noted business. After considering the proposal of the defendants the applicant bank sanctioned dated 21.5.2020 credit facility to the extent of Rs.1.50 lakh under canara Credit support to Covid-19 affected customer scheme to the defendants subject to their acceptance of the terms and conditions as stated/in the sanction letter. The defendants executed the various loan documents i.e. supplemental agreement, take delivery letter, pronote, undertaking letter, letter of undertaking, letter of proprietorship. In the meantime the applicant bank granted Rs.98,009/to the defendants as Covid-19 regulatory package working capital facilities vide sanction dated 1.9.2020 under Covid funded interest term loan.
