competent to institute the Original Application vide GPA of Bank Official dated 24.08.2023, which is Annexure A1 to this OA. 2. The brief facts of the OA are that the defendant no.1 had approached the applicant for the grant of Term loan facility for purchase of Commercial Vehicle of Rs.21,96,424/- vide Loan application dated 09.05.2022, which is Annexure A2 to this OA. Defendant no. 2 stood as guarantor. 3. The applicant sanctioned the Term loan facility of Rs.21,47,968/- for purchase of Commercial Vehicle vide Sanction letter dated 26.05.2022, which is Annexure A3 to this OA and the terms and conditions were duly accepted by the defendants. 4. The defendant no. 1 hypothecated his moveable asset i.e. commercial vehicle namely Ashok Leyland 1615, bearing registration no. PB-11-DA-4497, Engine No. NJEZ408805, Chassis no. MB1A3HCD3NRJX3886. Documents executed: -Loan cum hypothecation agreement, DP Note, DP Note delivery cum waiver letter, Deed of guarantee, all dated 26.05.2022, which are Annexures A4, A6 to A8 to this OA; Disbursement request form dated 20.05.2022 , which is Annexure A5 to this OA; Retail Invoice dated 27.05.2022, which is Annexure A9 to this OA; Loan Recall notice dated 27.01.2025, which is Annexure A10 to this OA; Foreclosure dated 23.01.2025, which is Annexure A11 to this OA and Statement of account along with certificate under Bankers Books Evidence, which are Annexures A12 & A13 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.24,17,204.89p, 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.
