Power of Attorney dated 10.01.2001, which is Annexure A1 to this OA. 2. The brief facts of the OA that the defendant no. 1 through its proprietor defendant no. 2 had approached the applicant for the grant of CC Limit of Rs.20.00 Lacs vide Loan Application dated 10.10.2022, which is Annexure A2 to this OA. 3. The applicant sanctioned the CC Limit of Rs.20.00 Lacs vide Sanction letter dated 11.10.2022, which is Annexure A3 to this OA and the terms and conditions were duly accepted by the defendants. 4. Defendant no. 1 through its proprietor defendant no. 2 hypothecated its moveable assets i.e. Stock and book debts, machineries, other goods etc. vide composite agreement dated 11.10.2022, which is Annexure A6 to this OA. Documents executed:-Proprietorship letter, DP Note, Letter of Continuing, Declaration cum- undertaking-cum Authority, Letter of undertaking, Letter of authority, Power of attorney in respect of Book debt facility, all dated 11.10.2022, which are Annexure A2, A5, A7 to A12 to this OA; Statement of account along with certificate, which is Annexure A12 to this OA; Finacle report regarding upgrade information of NPA account, which is Annexure A13 to this OA and Legal notice dated 19.04.2015, along with postal receipts, which are Annexures A14 to A17 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.20,43,822.17p, 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. 6. The defendants were served notices to appear before this Tribunal but no one appeared on behalf of defendants and they was proceeded ex-parte on 24.09.2025.
