competent to institute the Original Application vide Board Resolution dated 16.07.2022, which is Annexure A1 to this OA. 2. The brief facts of the OA are that defendant nos. 1 through its Proprietor defendant no. 2 approached the applicant for grant of CC Limit of Rs. 20.00 Lacs vide Loan Application dated 01.11.2019, which is Annexure A2 to this OA. Thereafter, defendant no. 1 through its Proprietor defendant no. 2 approached the applicant for grant of GECL of Rs. 4.00 Lacs. Thereafter, defendant no. 1 through its Proprietor defendant no. 2 approached the applicant for renewal of CC Limit of Rs. 20.00 Lacs and GECL of Rs. 4.00 Lacs vide Renewal Request Letter dated 16.11.2021, which is Annexure A19 to this OA. 3. The applicant sanctioned CC Limit of Rs. 20.00 Lacs vide Sanction Letter dated 24.12.2019, which is Annexure A3 to this OA and the terms and conditions were duly accepted by the defendants. Thereafter, the applicant sanctioned GECL of Rs. 4.00 Lacs vide Sanction Letter dated 16.06.2020, which is Annexure A13 to this OA. Thereafter, the applicant sanctioned renewal of CC Limit of Rs. 20.00 Lacs and GECL of Rs. 4.00 Lacs vide Renewal Sanction Letter dated 16.11.2021, which is Annexure A20 to this OA. Defendant no. 3 stood as guarantor in both the loan accounts. 4. Defendant no. 2 mortgaged his immovable property i.e. Land measuring 07 Marla 06 Sarsahi situated at Village Bhuttiwala, Hadbast no. 72, Tehsil and District Mukatsar, Punjab vide Transfer Deed dated 09.12.2019 along with its translation and Memorandum of Equitable Mortgage dated 16.06.2020, which are Annexure A12, A12T and A17 to this OA.
