repay the Term Loan amount by 84 monthly installments of Rs. 36,100/- , each, after three months from the date of first disbursement and, Cash Credit loan amount will be repaid on demand by the bank. Accordingly the defendants executed relevant documents including Composite Deed of Hypothecation for both the loan accounts in favour of applicant on 20/02/2019 and thereby created first charge on all the goods, plant and machinery, movables, crops, machines, equipments, machinery, furnitures and fixtures, fixed and current assets, etc. It is further pleaded that however, the defendants did not follow the repayment programme and failed to repay the loan amounts due against them as agreed, which consequently converted into NPA on 19/10/2019 and thereby applicant bank issued last legal demand notice on 08/12/2021. However, the defendants though availed sufficient period to repay the loan amount due against them, failed to repay it and, therefore, the applicant filed the present Orig. Application for recovery of the outstanding due amount, as aforesaid. Meagre
