Aggarwal, Manager of the applicant, who is competent to institute the Original Application vide GPA dated 24.08.2023, which is Annexure A1 to this OA. 2. The brief facts of the OA are that defendant nos. 1 and 2 approached the applicant for grant of Commercial Vehicle Loan of Rs.22,12,426.00 vide Loan Application dated 13.07.2022, which is Annexure A2 to this OA. 3. The applicant sanctioned Commercial Vehicle Loan of Rs.21,56,595.00 vide Sanction Letter dated 20.07.2022, which is Annexure A3 to this OA and the terms and conditions were duly accepted by the defendants. Defendant no. 3 stood as guarantor. 4. Defendant no. 1 hypothecated his movable asset namely Ashok Leyland Ltd. CA1615/52 H FBL bearing Registration no. PB11DB0647 and Chassis no. MB1A3HCD2NAJXXXXX vide RC, which is Annexure A8 to this OA. Documents executed: Loan cum Hypothecation Agreement, DP Note Waiver and Disbursement Advice, all dated 20.07.2022, which are Annexure A4 to A7 to this OA; Recall Notice dated 27.01.2025, which is Annexure A9 to this OA and Statement of Account with foreclosure letter and certificate, which are Annexure A10 to A12 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. 24,92,773.00 which is recoverable and the defendants were served recall notice 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 service upon defendants, Ms. Parvinder Kaur, Advocate proxy for Sh. K.H.S. Bath, Advocate appeared on behalf of the defendants on 20.12.2025 and filed Power of Attorney. Paper book was supplied on 13.02.2026 but no WS was filed. Therefore, opportunity to file WS by defendants was closed and defence was struck off vide order dated 28.07.2026.
