Harvester of Rs.22,00,000.00 vide Application Form for Agricultural Credit dated 11.10.2023, which is Annexure A2 to this OA. 3. The applicant sanctioned the Term Loan facility for purchase of Combine Harvester of Rs.22,00,000.00 vide Letter of Sanction dated 12.10.2023, which is Annexure A3 to this OA and terms and conditions were duly accepted by the defendant. 4. Defendant hypothecated his Moveable Asset i.e., Combine Harvester, Model MADHAV-971 bearing Registration No. PB13BS6118, Chassis no. MAI971K2023042, Engine no. JHDK018651 vide Registration Certificate and Tax Invoice along with receipt dated 03.12.2023, which are Annexures A14 & A15 to this OA. Documents executed : Hypothecation Agreement, Hypothecation (Vehicles) Agreement, Letter of General Lien and Set Off (AD-02A), Letter of Undertaking from the Borrower, Interest Agreement (for MCLR loans), Declaration / Undertaking (AD-01) for Agricultural Advances, Letter of Continuity, Term Loan Agreement (Hypothecation of Movables), Demand Promissory Note, Annexure – I Format of Letter to be obtained from Borrower, all dated 12.10.2023, which are Annexures A4 to A13 to this OA; Recall Notices, dated 03.06.2024, 31.08.2024, along with postal receipts, which is Annexure A16 to this OA; Legal Notices dated 23.10.2024, 04.02.2025, along postal receipt, which is Annexure A17 to this OA; Demand Notice u/s 13(2) dated 17.02.2025, along with postal receipt, which is Annexure A18 to this OA; Statement of account along with certificate, which is Annexure A19 to this OA. 5. The loan account became irregular and was classified as NPA and after adjusting debit and credit entries in loan account, there was a debit of Rs.21,89,150.97, which is recoverable and the defendant was served recall notices but he did not repay the outstanding amount, therefore, the applicant requested to accept the application and to issue Recovery Certificate accordingly.
