has been filed through Sh. Harminder Pal Singh, Senior Manager (Agri. Legal) o f the applicant, who is competent to institute the Original Application vide Power of Attorney dated 16.12.2020, which is Annexure A1 to this OA. 2. The brief facts of the OA are that the defendant no.1 & 2 had approached the applicant for grant of KCC Limit of Rs.55.25 Lacs vide Loan application dated 08.09.2016, which is Annexure A2 to this OA. Defendant no.3 stood as a Guarantor. 3. The applicant sanctioned KCC Limit of Rs.50.00 Lacs vide Sanction Letter dated 08.11.2016, which is Annexure A3 to this OA, and the terms and conditions were duly accepted by the defendants. 4. Defendant no.1 & 2 had mortgaged their immovable property i.e. total land measuring 41K-02M detailed as:a. land measuring 31K-18M situated at Village Mandala, Hadbast No.211, Tehsil Lohian, District Kapurthala, Punjab b. land measuring 9K-4M situated at Village Kutbiwal, Hadbast No.212, Tehsil Lohian, District Kapurthala, Punjab vide Letter to T ehsildar for creation of charge and Declaration U/s 4(1) bearing vasika no.356 both dated 28.12.2016 along with its translation, w hich is Annexure A7 to this OA. Documents executed:- D.P. Note, Letter of Continuity, Agreement for Over Draft/Cash Credit cum Guarantee cum Hypothecation all dated 30.12.2016, which are Annexures A4 to A6 to this OA; Legal Notice dated 06.06.2023 with postal receipts, which is Annexure A9 to this OA and A/c Statement with postal receipts, which is Annexure A10 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.77,06,988.01p, which is recoverable and the defendants were 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.
