OA NO.17/2026 YES BANK LTD. VS MR JAIN TRADERS AND ANOTHER Crore Six Lacs Fifty One Thousand One Hundred Forty three & Paise Seventy Nine Only). The Original Application has been filed through, Sh. Aashiv Bhayana, Senior Manager of the applicant, who is competent to institute the Original Application vide power of attorney dated 28.03.2025, which is Annexure A1 to this OA. 2. The brief facts of the OA are that the Defendant no.1 through its proprietor, who is Defendant no.2, approached the applicant for the grant of Overdraft facility of Rs.1,00,00,000/- & Term Loan facility of Rs.3,00,000/- under CGTMSE, vide loan application dated 30.09.2023, which is Annexure A2 to this OA. 3. The applicant sanctioned the Overdraft facility of Rs.1,00,00,000/- & Term Loan facility of Rs.3,00,000/- vide Sanction Letter dated 01.12.2023, which is Annexure A3 to this OA and terms and conditions were duly accepted by the defendants. 4. Defendant no.1, through its proprietor Defendant no.2, hypothecated Current Assets ie books, stocks and debts, Movable fixed assets of the Borrower including Plant and Machinery, vide Deed of Hypothecation dated 13.12.2023, which is Annexure A6 to this OA. Documents executed: - Master facility agreement, term loan agreement, both dated 04.12.2023, which are Annexures A4 & A5 to this OA; Legal notice dated 16.12.2025, which is Annexure A7 to this OA and Statement of accounts with certificate, which are Annexures A8 & A9 to this OA. 5. The loan accounts became irregular and were classified as NPA and after adjusting debit and credit entries in the loan accounts, there was a debit of Rs.1,06,51,143.79, which is recoverable and the defendants were served recall notices but they did not repay the outstanding amount, therefore, the applicant requested to accept the application and to issue Recovery Certificate accordingly.
