In Reply Statement, the Bank submitted that since the Applicants failed to repay the loan as agreed to and hence the loan account was declared as NPA on 15.04.2022. The Applicants further submitted that the Defendant Bank did not issue any notice or letter intimating the recall of loan facilities. On the other hand, the Defendant Bank has not provided any documentary evidences for having sent any recall notice to the Applicants before issuing the Demand Notice dated 17.06.2022. I also find that no proper reply was given by the Defendant Bank in their Reply Statement in this regard. Further, I perused the Statement of Accounts submitted by the Applicants at page nos. 31 to 41 of main SA, and at page no. 40, it is shown as the Applicants credited Rs. 40,000/- on 11.02.22 by voucher and Rs. 60,000/- on 11.02.22 by cash and Rs. 60,000/- on 11.02.22 by cheque in the loan account. Hence, it is established that the Applicants made payments in the month of February 2022. And, the loan account has been classified as NPA in the month of April 2022, i.e. before the completion of required 90 days as contemplated in the SARFAESI Act & Rules. Hence, the classification of loan account as NPA cannot be considered as correct and the Defendant Bank also failed to rebut the allegations made by the Applicants in their Reply Statement.
