The applicant approached the HDFC Ltd. requesting for credit facilities and this defendant had granted three loans to the applicant. The first two loans of Rs.4,20,000/- and Rs.10,80,000/- were availed by the applicant after executing loan agreements dated 08.06.2017. The loan of Rs.4,20,000/- is a takeover loan from the Federal Bank as detailed below. The 2nd loan of Rs.10,80,000/- is a home equity loan. As per the terms of sanction and as per the agreements executed by the applicant with this defendant, those amounts were liable to be repaid with agreed variable rate of interest in 240 and 180 equal monthly instalments of Rs.11,617/- and Rs.3,702/- respectively which are subject to change based on interest variations. For securing repayment of the above credit facilities, the applicant had deposited the title document of his property covering and extent of 6.13 Ares of land comprised in Re-Sy. Nos.279/19 and 269/12/2 in Block No.12 of Angamaly Village of Aluva Taluk in Ernakulam District. The original of the title document shows that what is conveyed is property and not nilam. The boundary description of the property as contained in the document and re-iterated in the demand notice, Document No.1 issued under Section 13(2) will show that there is no nilam in any side of the secured asset. The demand notice was accepted by the applicant as can be seen from the acknowledgement card, Document No.2 signed by him.
