borrower of the roan facirities from Appricant bank. Defendant no.2 is also a company stood as a corporate guarantor, defendant no.3 is an individual who arso stood as guarantor and defendant no.4 is the pledger who pledged its shares held in defendant no.1 company. Defendant no.1 avaired Rs.35.00 crores which incrudes Rs.20.00 crores of cash credit with interchangeabirity from cc rimits to Bank guarantee to the extent of Rs.10.00 cores, term loan of Rs.1O.OO cores and BG of Rs.5,00 cores. In consideration of said facilities, the defendants 1 and 2 executed Agreement of hypothecation of goods and assets, deed of guarantee dated 24.06.2013. While things stood thus, the defendants no.1 to 3 avaired renewed roan facirities i.e., cash credit of Rs.20.00 crores, term loan of Rs.6,40 crores and Bank guarantee of rs.5.00 crores aggregating to Rs.31.40 cores. After avairing the roan facirities, the defendants faired to compry the terms of sanction, hence the appricant bank was constrained to classify the account as NpA on 23.07.2Q22 and issued reca, notice dated 30.12.2022. Inspite of several requests and demands, the defendants did not clear the outstanding. Hence this OA.
