As per the averments in the application, the Applicant Bank states that Defendant No. 1 is a Proprietorship Firm represented by its Proprietor Defendant No. 2 availed Term Loan facility of Rs.92,50,000/- repayable in 72 monthly installments of Rs.1,29,000/- p.m with interest @10.40% p.a with monthly rests and working capital facility of Rs.7,50,000i- together with interest @9.55% p.a with monthly rests and executed Common Hypothecation Agreement dated 29.03.2019 in favor of the Applicant Bank. The defendants availed GECL facility of Rs.8,50,000/- with interest @7.50% p.a with monthly rests and executed Supplemental Common Hypothecation Agreement dated 17.06.2020 in favor of the Applicant Bank. The defendants availed GECL 1.0 Extension facility of Rs.20,00,000/- with interest @7.SOyo p.a with monthly rests and executed Supplemental Common Hypothecation Agreement dated 12. 11.2021 in favor of the Applicant Bank. The Defendant no. 2 being the proprietor of Defendant No. 1 created Equitable Mortgage morefully mentioned in Schedule of property to OA and executed Memorandum of Deposit of Title Deeds dated 22.i1.2021 in favor of the Applicant Bank and deposited Sale deeds dated 29.06.2021 in favor of the applicant Bank. After availing the loan facility, the defendants comply the terms of sanction, hence the applicant 6*ffi::$ the account as NPA on 29.11.2023 and notice dated 09.11.2024 to the defendants. ,,tY?nrn ** , 4
