to institute the Original Application vide Authority letter dated 26.08.2025, which is Annexure A1 to this OA. 2. The brief facts of the OA are that the defendant no.1 through its proprietor defendant no.2 approached the applicant for the grant of Cash Credit Limit of Rs.20.00 Lacs vide loan application dated 23.01.2014, which is Annexure A2 to this OA. 3. The applicant sanctioned the Cash Credit Limit of Rs. 20.00 Lacs vide letter of sanction dated 04.02.2014, 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 had hypothecated stocks, raw material like carrot, pumpkin, tomatoes, chilies, natural coloring chemicals, astic acid bottles, other utensils etc. vide Agreement of Hypothecation to secure demand loan/cash credit dated 04.02.2014, which is Annexure A5 to this OA. Documents executed: Demand Promissory Note, Agreement, Undertaking, Letter of declaration undertaking & authority, all dated 04.02.2014, which are Annexures A4, A6 to A8 to this OA; Letter of acknowledgement of debt/securities dated 03.01.2017, 03.12.2019, 18.08.2020 & 07.08.2023, which are Annexure A9(Colly) to this OA; Legal Notice dated 06.05.2025, along with postal receipt, which is Annexure A10 to this OA and Statement of Account along with certificate, 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.23,01,470.86, 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.
