Note, Hypothecation of Goods and Book Debts, Agreement for Loan/cash Credit/Overdraft and Master Agreement. The Defendant hypothecated with the Applicant Bank having first charge in respect of entire hypothecated assets including all tangible movable properties, goods, book, debts, assets and all products, stocks in trade and all goods of Defendant, stock of raw materials, stockin-process, finished goods both present and future including fixed assets as security for due repayment of the dues along with all interest, costs, charge thereon in favour of the Applicant Bank in the said loan account of the Defendant. After availing the loan, inspite of several requests and reminders the defendant failed to regularize the loan account and as such the loan account was classified as NPA on 07.04.2024 as per the guidelines of Reserve Bank of India. After the account was classified as NPA, the applicant bank issued Demand Notice dated 18.03.2025 upon the defendant but the defendant failed to comply with the said notice. After giving credits for all sums of moneys paid by and/or realized on behalf of the defendant a sum of Rs.23,00,162.39/- (Rupees Twenty three Lacs one hundred sixty two and paise Thirty nine) only with interest calculated upto 28.02.2025 was due against the defendant in the loan account No. 6705008700000319 (CC).
