further for its enhancement to Rs.14.00 Lacs vide Loan Application dated 04.03.2014, which is Annexure A4 to this OA. 3. The applicant sanctioned OGC Limit of Rs.20.00 Lacs and further applicant sanctioned the enhancement of KCC limit to Rs.14.00 Lacs vide sanction Letter, which is Annexure A5 to this OA and the terms and conditions were duly accepted by the defendants. 4. Defendant had mortgaged his immovable properties i.e. total land measuring 16K-00M situated in Village Bhai Dhaliwal, Tehsil Khadoor Sahib, District Tarn Taran, Punjab vide Registered Mortgaged Deed bearing v asika No.1098 dated 03.02.2012 along with its translation, which is Annexure A8 to this OA. Documents executed:- Agreement for Hypothecation dated 20.02.2012, which is Annexure A3 to this OA; Hypothecation Agreement and Letter of Undertaking both dated 04.03.2014, which are Annexures A6 and A7 to this OA; Balance Confirmation Letters dated 24.02.2017, 22.11.2019 and 02.11.2021, which are Annexures A9 to A11 to this OA and Statement of Account duly certified, which is Annexure A12 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.28,63,358.00, which is recoverable and the defendant was served recall notices but they did not repay the outstanding amount, therefore, the applicant requested to accept the application and to issue Recovery Certificate accordingly. 6. The defendant was served notices to appear before this Tribunal but no one appeared on behalf of defendant and he was proceeded exparte on 22.07.2024. 7. In support of the OA, affidavit of Sh. Jaswinder Singh Chadha, Senior Manager, Punjab National Bank h as been filed. 8. Heard arguments and perused record.
