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.94,20,906.79p (Rupees Ninety Four Lacs Twenty Thousand Nine Hundred Six and Paisa Seventy Nine only). The Original Application has been filed through Sh. Rakesh Kumar, Senior Manager-cumSignatory o f the applicant, who is competent to institute the Original Application vide Authority Letter dated 13.09.2022, which is Annexure A1 to this OA. 2. The brief facts of the OA are that the defendant No.1 through its proprietor i.e. defendant no.2 had approached the applicant for the grant of Cash Credit Limit of Rs.30.00 and further requested for its enhancement to Rs. 65.00 Lacs. Thereafter the defendants requested the applicant for the grant of Term Loan I (GECL) of Rs.12.00 Lacs and Term Loan-II (GECL) of Rs. 7.00 Lacs vide Offer Letters dated 08.07.2020 and 09.11.2021, which are Annexures A10 & A13 to this OA 3. The applicant sanctioned the Cash Credit Limit of Rs.30.00 Lacs and further sanctioned its enhancement to Rs. 65.00 Lacs. Thereafter the applicant sanctioned a Term Loan-I of Rs.12.00 Lacs and Term Loan-II of Rs. 7.00 Lacs vide Sanction Letters dated 09.11.2013, 28.03.2018, 08.07.2020 and 24.12.2021, which are Annexures A2, A5, A11 & A14 to this OA and the terms and conditions were duly accepted by the defendants. 4. Defendants No. 2 had mortgaged their immovable properties i.e. a) Commercial Shop No. 173, admeasuring 277.77 sq. yards owned by defendant No. 1 situated at New Grain Market, near
