As per the averments in the application, the Applicant Bank states that the defendant No,1 which is a proprietorship firm represented by its proprietor/ defendant no.2 availed term loan facility for a sum of Rs.92.50 lakhs, cash credit facility of Rs.7.50 lakhs, short term loan of Rs.3.40 lakhs under GECL and Rs.B.50 lakhs under GECL (1.0) facility and agreed to repay along with interest. The defendants hypothecated the machinery as mentioned in schedule to OA and executed supplementary hypothecation and personal guarantee in favour of Applicant bank. The defendants mortgaged the schedule property and executed necessary documents in favour of applicant bank. It is submitted by the Applicant bank that the Defendants availed the said loan facilities and failed to keep up the repayment schedule, as such the account was classified as NpA. Inspite of demands made by Applicant the defendants have not regularized the account, so the Applicant bank issued legal notice dated 09.LL.2024, but the defendants did not come forward to repay the same. The total claim of Applicant against defendants is of Rs.1,77,79,654.L3ps (Rupees One Crore Seventy Seven Lakhs Seventy Nine
