applicant bank had restricted its claim in OA as against the second defendant to two loans alone. As the borrower committed default in repayment, applicant bank had initiated SARFAESI proceedings and had sold the mortgaged property to one Mr. P.A. Sekar for Rs.46 lakhs and appropriated the sale proceeds as against the dues in respect of Term Loan - I and Cash Credit Facility, for which the second defendant had extended her guarantee. Applicant bank had also reported part satisfaction of the said amount in the OA and had also submitted that a sum of Rs.25,46,742.89p stands discharged from the sale proceeds of Rs.46 lakhs realized on 30.05.2019 and the applicant bank is prepared to pay back the sum of Rs.16,39,000/- as is excessively found available with the applicant bank. It is further submitted by 2nd defendant that initially the defendants were set ex-parte, subsequently the 2nd defendant had filed IA No.1275 of 2019 praying to set aside the ex-parte order passed against her, which was accordingly allowed and 2nd defendant was permitted to file the Written Statement. Subsequently, applicant bank had also filed a memo reporting part satisfaction of the OA claim while seeking to exonerate the second defendant and that they are limiting their claim only against 1st defendant, Thus submitting, 2nd defendant prayed for dismissing the OA against her.
