conferred on it under Regulation No 76 & 77 of State Bank of India Regulations, 1955 made by Reserve Bank of India in exercise of powers conferred by Sub-Section 3 of Section 50 of the State Bank of India Act, 1955 with the previous sanction of the Central Government. Gazette Notification dated 27.03.1987, which is Annexure A1 to this OA. 2. The brief facts of the OA that the defendant had approached the applicant for the grant of KCC Limit of Rs.24.50 Lacs vide Loan Application dated 16.06.2014, which is Annexure A2 to this OA. 3. The applicant sanctioned the KCC Limit of Rs.24.50 Lacs vide Sanction dated 23.06.2014, which is Annexure A3 to this OA and Letter of arrangement dated 25.06.2014, which is Annexure A4 to this OA. The terms and conditions were duly accepted by the defendant vide terms and conditions letter dated 25.06.2014, which is Annexure A5 to this OA. 4. Defendant had mortgaged his immovable property i.e. land measuring 32K-00M situated at Village Khang, Tehsil Patran, District Patiala, Punjab vide Mortgage deed bearing vasika no.962 dated 23.06.2014, which is Annexure A8 to this OA. Documents executed: Consent by borrower, which is Annexure A6 to this OA; Hypothecation agreement dated 25.06.2014, which is Annexure A7 to this OA; Statements of accounts along with statement of accrued interest & certificate under Banker Book Evidence Act, which are Annexures A9 to A11 to this OA; NPA notice dated 02.05.2022, which is Annexure A12 to this OA; Legal notice dated 07.05.2022, which is Annexure A13 to this OA and Letter of revival dated 31.03.2017, which is Annexure A14 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.33,94,773.00, which is recoverable and the defendant were served recall notices but he did not repay the outstanding amount, therefore, the applicant requested to accept the application and to issue Recovery Certificate accordingly.
