Advocates: Argued by Sh. Satish Kumar Arora, Advocate for Applicant (through VC) Defendants are ex-parte FINAL ORDER 1. Present Original Application was instituted by the applicant under Section 19 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993, against the defendants for recovery of Rs.27,99,390.78p (Rupees Twenty Seven Lakh Ninety Nine Thousand Three Hundred Ninety and Paise Seventy Eight Only). The Original Application has been filed through Sh. Sunil Kalra, Legal Manager o f the Applicant, who is competent to institute the Original Application vide Board Resolution dated 28.07.2023, which is Annexure A1 to this OA. 2. The brief facts of the OA are that the Defendant No.1 had approached the applicant for the grant of ODAP of Rs.25.00 Lacs vide Loan Application dated 11.12.2019, which is Annexure A2 to this OA and further approached the applicant bank for its servals renewals. 3. The applicant sanctioned the ODAP of Rs.25.00 Lacs vide Sanction Letter dated 16.01.2020, which is Annexure A3 to this OA. Further, applicant again sanctioned its Renewals the ODAP of Rs.25.00 Lacs Sanction Letter dated 23.12.2020 and 04.04.2022, which are Annexure A10 and A11 to this OA and the terms and conditions were duly accepted by the defendants. 4. Defendant No. 4 and 5 had mortgaged their immovable property i.e. Shop No. 16 measuring 2500 sq. ft., (20’ X 125’) situated in Grain Dana Mandi Market, Chabhal Kalan, District Tarn Taran (Punjab) vide equitable mortgaged of Sale Deed bearing vasika no.794 d ated 11.07.2011 along with its translation and Non Encumbrance Certificate, which is Annexure A8 to this OA.
