2 OA/22/2026 IDFC FIRST BANK LTD. VS. M/S MOHALI TRADERS AND OTHERS the defendants for recovery of Rs. 53,62,796.32 (Rupees Fifty Three Lacs Sixty Two Thousand Seven Hundred Ninety Six and Paise Thirty Two Only). The Original Application has been filed through Sh. Savinder Singh, Manager Legal of the applicant, who is competent to institute the Original Application vide Authority Letter dated 10.08.2023, which is Annexure A1 to this OA. 2. The brief facts of the OA are that defendants approached the applicant for grant of Business Installment Loans of Rs. 51.00 Lacs, Rs.51.00 Lacs and Rs. 75.00 Lacs vide Loan Application Forms dated 28.10.2022, 11.10.2023 and 05.11.2024, which is Annexure A2 to this OA. 3. The applicant sanctioned Business Installment Loans of Rs.51.00 Lacs, Rs. 13.26 Lacs and Rs. 36.51 Lacs vide Sanction Letters dated 31.10.2022, 18.10.2023 and 13.11.2024, which is Annexure A3 to this OA. Documents executed: Loan Agreements dated 31.10.2022, 29.10.2023 and 19.11.2024, which is Annexure A4 to this OA; Statement of Accounts, which is Annexure A5 (Colly) to this OA and Loan Recall Notice along with postal receipts, which are Annexure A6 and A7 to this OA. 4. The loan accounts became irregular and were classified as NPA and after adjusting debit and credit entries in loan accounts there was a debit of Rs. 53,62,796.32 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. 5. The defendants were served summons to appear before this Tribunal and after service upon defendants, Ms. Navita, Advocate proxy for Sh. Anmol Mishra, Advocate appeared on behalf of defendants on 10.02.2026 and filed Power of Attorney. Paper book was supplied on 02.04.2026 but no WS was filed. Therefore, opportunity to
