applicant bank under Card No. 6530218001 vide being Canara Bank Credit Card Application No. NF 1016 dated 09.12.2024 out of his own free will and desire, but had miserably failed to pay back the outstanding balances and late payment fees under the Canara Bank Credit Card. Thereafter upon inspection, the applicant Bank ascertained that the OD/OСС loan account remained overdue and that the business premises of M/s. B.S. Trading, Sales and Services were found closed. In view of these findings, the Bank issued a notice dated 21.08.2025 calling upon the defendant to clear the overdue liabilities and to furnish an explanation regarding the non-operational status of the unit. However, the defendant neither complied with the said notice nor furnished any reply, and has also failed to regularise the overdue amount or clarify the closure of the shop unit. The Applicant Bank, during a subsequent periodical inspection conducted on 10.09.2025, again visited the registered address of the borrower's business unit and found the premises closed. After availing the loan facilities, the defendant failed to regularize the loan account and as such the loan account was classified as N.P.A. on 06.11.2025. After giving credits for all sums of moneys paid by and/or realized on behalf of the defendant a sum of Rs.26,04,117.47P (Rupees Twenty-Six Lakhs Four Thousand One Hundred Seventeen and Paisa Forty-Seven) only with interest calculated upto 31.11.2025 was due against the defendant in the loan account Nos.125007018295 (OD/ OCC) &6530218001 (Credit Card).
