Rs. 2.50 Crore, MEOD of Rs. 30 Lakh, MEOD of Rs. 1.20 Crore aggregating Rs. 4Crore on 19/11l18, Seasonal Cash Credit Limit of Rs. 40 Lakh and EEG-WC Term Loan of Rs. 50 Lakh on 77 101 /70, GECL of Rs. 1.09 Crore on 06/06120. The credit facilities aggregating Rs. 6.90 Crore was further renewed on 31 /12/20. ln consideration to sanction of credit facitities, the Defendants executed requisite loan documents and the Defendant No.-'l to 4 have atso executed Letter of Continuing Guarantee as welt as created equitabte mortgage over the immovabte property of Defendant No.-1 , i.e., Commerciat Property situated at Plot No.-168 at Scheme No.-78, Part-ll, Commercial cum Residential', lndore (M.P.), area 180 sq.mtr. ln the meantime Oxygen Lifeline Pvt Ltd was admitted in corporate insolvency resotution process under the provisions of the lnsolvency and Bankruptcy Code 2016 and by an order dated 07 110121 Resotution Professional was appointed in Company Petition No. C.P.(lB)/121MP12021. The Defendant No.-1 to 4 avaited the credit facitities but failed to liquidate the outstanding dues despite issuance of Demand Notice dated 16/07/22 under the Securitisation Act by the Applicant Bank. The Appticant-Bank has retied upon the documents at Ex A-1 to A-29 which were proved by Shri Ashish Rawat, Legal Manager.
