Original Application has been filed through Sh. Kulwinder Singh, Chief Manager o f the applicant, who is competent to institute the Original Application, in terms of Gazette notification published in Gazette of India dated 26.09.1959, 26.08.1972 and 27.03.1987 under Regulation no. 76 and 77 of State Bank of India Regulations framed in Exercise of the power conferred by sub section 3 of section 50 of the State Bank of India Act,1955 with previous sanction of the Central Government. Notification dated 02.05.1987, is Annexure 1 to this OA. 2. The brief facts of the OA are that the Defendant No.1 though its Proprietor of Defendant No. 2 had approached the applicant for grant of CC Limit of Rs.20.00 Lacs and vide Loan Application dated 25.07.2013, which is Annexure A2 to this OA. Defendant no. 3 stood as guarantor. Thereafter, Defendant No.1 though its Proprietor of Defendant No. 2, approach the applicant for Renewal of this Limit vide Loan application dated 30.08.2014, 10.09.2015, 18.09.2016 and 29.09.2019, which are Annexures A9, A11, A13, A16 to this OA. Thereafter, a pre-approved loan of Rs. 4.00 Lacs under GECL was offered by the applicant to the defendants vide offer letter and acceptance dated 03.06.2020, which is Annexure A18 to this OA. 3. The applicant sanctioned CC Limit of Rs.20.00 Lacs vide Letter of Arrangement dated 26.07.2013, which is Annexure A3 to this OA and thereafter, sanctioned renewal of the same vide letter of arrangement/sanction dated 30.08.2014, 10.09.2015, 19.09.2016 and 25.10.2019 which are Annexures A10, A12, A14, A15 and A17 to this OA and the terms and conditions were duly accepted by the defendants. Thereafter, the applicant sanctioned the loan of Rs. 4.00 Lacs under GECL vide letter of arrangement dated 21.10.2020, which is Annexure A19 to this OA. 4. Defendant no. 3 had mortgaged their immovable properties detail as under:
