| had hypothecated assets (fully detailed in para No.3A of the application). |
The loan was chargeable to interest @13.25% per annum with monthly
rests. Defendant Nos. 3 & 4 stood as guarantors vide guarantee agreement
dated 29.08.2014, (Annexure A-19). Defendants had duly acknowledged |
| their liability towards the debt on 31.01.2020. On 30.11.2021, a sum of |
| Rs.1,55,72,953.07p was due from the defendants. Despite repeated |
| requests, defendants did not make the repayment. Hence, this application. |
3.
On 14.03.2022, summonses were sent to the defendants by |
registered post, which were duly served. However, defendants did not put
in appearance. Vide order dated 20.03.2023, they were proceeded_ex parte_. |
4.
In order to prove its case, the Bank has placed on record the |
affidavit of Sh. Jatinder Gupta, Executive Manager (Law) along with the
loan and security documents and marked them as Exhibit A-1 to A-24. |
5.
I have perused the evidence on the record. I am of the considered |
| view that the Bank has proved its case that it had advanced the loan of |
| Rs.130.00Lacs and on 30.11.2021, a sum of Rs.1,55,72,953.07p was due. |
6.
Accordingly, the application of the bank for the recovery of |
| Rs.1,55,72,953.07p (Rupees One Crore Fifty Five Lacs Seventy Two |
| Thousand Nine Hundred Fifty Three and Paise Seven Only) with interest |
| @13.25% per annum with monthly rests from 30.12.2021, till the date of |
| payment is hereby allowed with costs. The liability of defendant nos. 1 to |
| 4 would be joint and several. The lability of Defendant no.5 would be to |
the extent of property mortgaged by her. Bank can recover its dues by the
sale of mortgaged property and hypothecated assets fully detailed in para |
No.3A of the application as well as from the personal movable and
immovable property(ies) of the defendant nos. 1 to 4. |
