defendant no.2 for business purpose. Defendant nos.2 and 3 stood as guarantors. To secure the said loan facilities, defendant no.2 had mortgaged his immovable property (fully detailed in para No.5.11 of the application). The said loan facilities were chargeable to different rate of interest. At the request of defendant no.1 through its proprietor defendant no.2, on 06.12.2017, bank had renewed/enhanced the existing CC Limit from Rs.25.00 lacs to Rs.35.00 lacs in addition to existing Term Loan-1 of Rs.9.50 lacs and Term Loan-II of Rs.6.00 lacs, totaling Rs.50.50 lacs. Defendant nos.2 and 3 stood as guarantors vide executing letter of continuing guarantee dated 06.12.2017 (Exhibit A-22). To secure the said loan facilities, defendant no.2 had extended the scope of earlier created mortgaged qua the immovable property (fully detailed in para No.3A of the application). Thereafter, on 19.01.2019, at the request of defendant no.1 through its proprietor defendant no.2, bank had renewed the existing CC Limit of Rs.35.00 lacs in addition to existing Term Loans of Rs.9.50 lacs and Rs.6.00 lacs, totaling Rs.50.50 lacs. On 10.02.2022, a sum of Rs.48,94,592.57p was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.
