As per the averments in the application, the Applicant Bank states that the defendant No.1 is a partnership firm represented by its working partners/ defendants no.2 to 5 and defendants no.6 to g stood as guarantors avaired working capitar term roan of Rs.3.00 crores, open cash credit of Rs.2.00 Crores to meet working capital requirements and hypothecated the machinery and stocks as mentioned in the schedure to oA. The defendants executed composite agreement, demand promissory note, general form of guarantee, declaration, RF-256 - declaration of mortgaged properties and extension of existing mortgage of properties. The defendants deposited the title deeds of originar documents of schedure mentioned mortgaged properties in favour of applicant bank. It is submitted by the Applicant bank that the Defendants avaired the said roan facirities and failed to keep up the repayment schedule, as such the account was classified as NpA. Inspite of demands made by Applicant the defendants have not regularized the account, and the Applicant bank issued'.noEices,.-but the defendants did not come forward to repay the ,... ,...l;..1. 95me.The top| "craim of Appricant against defendants is of Yi' ,,i R.s.5,24,11 ,396/-'iRup"", Five Crores Twenty Four Lakhs I tr.rJn$rfiLtriiffo r*il" nunared Ninety six onry) wirh interest
