Thousand Four Hundred Nineteen and Sixty One Paisa Only) . The OA has been filed through Ms. Samandeep Kaur Sekhon, Authorised Representative of the applicant bank, stated to be competent to institute the Original Application vide Resolution of Board dated 16.10.2021, Annexure-A1 (copy). 2. The brief facts of the case of the applicant as per Original Application are that defendant No. 1 through defendant No. 2 had approached the applicant bank for grant of term loan facility-I of Rs. 6,13,949/-, term loan facility-II of Rs. 29.47 lacs, term loan facility-III of Rs. 34.58 lacs and GECL facility of Rs. 5.81 Lacs vide application forms dated 11.06.2018, Annexures-A2 to A4 (copy). Defendant No. 3 stood as guarantor for repayment of the loan. 3. The applicant bank sanctioned aforesaid facilities to the defendants vide sanction letter dated 28.09.2020, Annexure-A8 (copy) as per terms and conditions duly accepted by the defendants. 4. In order to secure the aforementioned credit facilities, the defendants executed various loans and security documents, i.e. agreement for loan and guarantee dated 11.06.2018, Annexures-A5 to A7 (copy), facility-cum-hypothecation agreement dated 28.09.2020, Annexure-A9 (copy), declaration-cum-undertakings regarding terms and conditions dated 28.09.2020, Annexures-A10 and A10A (copy). 5. It is further the case of the applicant bank that the loan facilities were duly availed of by the defendants but they failed to maintain the financial discipline of the applicant bank and resultantly, the loan accounts were declared as NPA because those became irregular. The applicant bank recalled entire outstanding amount vide legal notice
