enhancement to Rs.25.00 Lacs vide Application Form dated 07.01.2023, which is Annexure A2 to this OA. 3. The applicant sanctioned CC Limit of Rs. 10.00 Lacs under CGTMSE scheme and further sanctioned its enhancement to Rs.25.00 Lacs vide Sanction Letters dated 17.03.2023 and 24.10.2023, which are Annexures A3 & A7 to this OA and the terms and conditions were duly accepted by the defendants. 4. Defendant no.1 had hypothecated its movable properties/assets i.e. Stocks and Book Debts vide Deeds of Hypothecation dated 28.03.2023 and 30.10.2023, which are Annexures A5 & A8 to this OA. Documents executed: - Loan cum facility agreement, Demand Promissory Note both dated 28.03.2023, which are Annexures A4 & A6 to this OA; Addendum, which is Annexure A9 to this OA; Statement of Account with certificate, which is Annexure A10 to this OA and Demand Notice dated 04.10.2024 along with Postal Receipts, which are Annexures A11 to A13 to this OA 5. The loan account became irregular and was classified as NPA and after adjusting debit and credit entries in the loan account there was a debit of Rs.25,46,465.40p, 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 were proceeded ex-parte on 04.04.2025. 7. In support of the OA, affidavit of Sh. Sandeep Kumar, Authorized Representative, Axis Bank Limited has been filed. 8. Learned proxy counsel present has not advanced any arguments. Perused record.
