institute the Original Application vide Power of Attorney dated 14.07.2016, which is Annexure A1 to this OA. 2. The brief facts of the OA are that defendant no. 1 through its Proprietor defendant no. 2 approached the applicant for grant of CC Limit of Rs. 9.00 Lacs vide Application dated 30.08.2017, which is Annexure A2 to this OA. Thereafter, defendant no. 1 through its Proprietor defendant no. 2 approached the applicant for enhancement of CC Limit to Rs. 45.50 Lacs. 3. The applicant sanctioned CC Limit of Rs. 9.00 Lacs and the terms and conditions were duly accepted by the defendants. Thereafter, the applicant sanctioned the enhancement of CC Limit to Rs. 45.50 Lacs vide Sanctioned Letter, which is Annexure A5 to this OA. Defendant nos. 3 and 4 stood as guarantors. 4. Defendant no. 4 mortgaged his immovable property i.e. Land measuring 27K 19M situated at Village Rajoke 1, Tehsil Patti, District Tarn Taran, Punjab vide Sale Deed dated 27.12.2018, which is Annexure A9 to this OA. Defendant no. 1 through its Proprietor defendant no. 2 hypothecated their raw materials and book debts etc. vide Hypothecation Agreements dated 30.08.2017 and 29.01.2019, which are Annexure A3 and A6 to this OA. Documents executed: Agreements of Guarantee dated 30.08.2017 and 29.01.2019, which are Annexure A4, A7 and A8 to this OA; Balance and Security Confirmation Letter dated 12.06.2020, which is Annexure A10 to this OA and Account Statement, which is Annexure A11 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. 57,14,101.37, which is recoverable and the defendants were served recall notice but they did not repay the outstanding amount, therefore, the applicant requested to accept the application and to issue Recovery Certificate accordingly. 6. The defendants were served summons to appear before this Tribunal but no one appeared on behalf of defendants and they were proceeded ex-parte vide order dated 24.08.2026.
