represented by its proprietor/ defendant no.2 availed term loan facility for a sum of Rs.92.50 lakhs, GECL 1.0 facility for Rs.8.50 lakhs, GECL 1.0 extension of Rs.20.00 lakhs and OCC limit of Rs.35.00 lakhs 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 17.07.2025, but the defendants did not come forward to repay the same. The total claim of Applicant against defendants is of Rs.2,OG,99,9g2.6Ops (Rupees Two Crores Six lakhs Ninety nine Thousand Nine Hundred Eighty two and paise sixty only) with interest @l2o/o p.a, @ 10.85o/o p.a and @12.35olo p.a respectively from date of filing of OA till the date of realization. Hence the OA.
