through Sh. Rohit Varun Singh Thakur, Authorized Officer of the applicant bank, who is competent to institute the Original Application vide Power of Attorney dated 17.12.2021, which is Annexure A1 to this OA. 2. The brief facts of the OA are that the defendants had approached the applicant bank for the grant of KCC Limit of Rs.35.00 Lacs vide Loan Application dated 06.12.2014, which is Annexure A2 to this OA. 3. The applicant Bank sanctioned the KCC Limit of Rs.25.00 Lacs vide Sanction Letter dated 06.01.2015, which is Annexure A3 to this OA; and the terms and conditions were duly accepted by the defendants. 4. Defendants had mortgaged their immovable property i.e. land measuring 48K-00M situated at Village Patti Bir Singh Bhadaur-A, H.B. No.7, Tehsil Tapa, District Barnala, Punjab vide Letter to Joint-Sub Registrar and Declaration u/s 4(1) dated 06.01.2015, which is Annexure A7 to this OA. Documents executed: - Loan-cum-Hypothecation Agreement, D.P. note and DPN delivery-cum-waiver letter all dated 08.01.2015, which are Annexures A4 to A6 to this OA; Notice and postal receipt dated 17.05.2022, which are Annexures A8 to A10 to this OA and Statement of account along with the certificate, which is Annexure A11 to this OA. 5. The loan account became irregular and was classified as NPA and after adjusting debit and credit entries in loan account there was a debit of Rs.28,07,972.00, which is recoverable and the defendants were served recall notices but they did not repay the outstanding amount, therefore, the applicant bank requested to accept the application and to issue Recovery Certificate accordingly. 6. The defendants were served notices to appear before this Tribunal but no one appeared on behalf of defendants and they were proceeded ex-parte on 15.02.2024. 7. In support of the OA, affidavit of Sh. Rohit Varun Singh Thakur, Authorized Officer, Axis Bank Ltd. has been filed.
