2 OA/226/2026 CENTRAL BANK OF INDIA VS. M/S. JSM TRADERS AND ANOTHER 2. The brief facts of the OA are that the Defendant no.1, through its proprietor defendant no.2, approached the applicant for conversion of OD Limit of Rs.70.00 lacs to sanction of enhanced CC Limit of Rs.100.00 lacs vide Loan Application dated 12.09.2024, which is Annexure A2 to this OA. 3. The applicant sanctioned the CC Limit of Rs.100.00 lacs vide Sanction Letter dated 29.09.2024, which is Annexure A3 to this OA and terms and conditions were duly accepted by the defendants. 4. Defendant no. 2 mortgaged his property measuring 127²⁄₃ SqYds situated at MC No. B-5/1088/F, Mohalla Brahampuri, Near Ahluwalia Chowk, Ludhiana, Punjab, vide deposit of Original Title Deed T ransfer Deed bearing Wasika No. 1567 dated 24.04.2017 registered with SubRegistrar, Ludhiana, which is Annexure A7 to this OA; Documents executed: Agreement of Hypothecation to secure demand cash credit against goods dated 26.09.2024, which is Annexure A4 to this OA; Agreement of Supplemental Deed of Hypothecation of Goods for increase in limit dated 26.09.2024, which is Annexure A5 to this OA; Declaration and Undertaking dated 26.09.2024, which is Annexure A6 to this OA; Legal Notice dated 03.12.2025 along with postal receipts, which is Annexure A8 to this OA; and Statement of Account, which is Annexure A9 to this OA. 5. The loan account became irregular and was classified as NPA and after adjusting debit and credit entries in the loan account, there was a debit of Rs.1,04,84,821.00 (Rupees One Crore Four Lac Eighty Four Thousand Eight Hundred Twenty One Only), 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. 6. The defendants were served summons to appear before this Tribunal and after the service of summons, SH. Ram Pal Kohle, Advocate appeared on behalf of defendants and filed his Power of Attorney on 02.04.2026. Paper book was supplied to learned counsel for defendants on 21.06.2026. But no WS was filed within or after the stipulate period.
