Harvester of Rs.22,95,000.00 vide Application Form for Agricultural Credit dated 10.08.2024, which is Annexure A2 to this OA. 3. The applicant sanctioned the Term Loan Facility for purchase of Combine Harvester of Rs.22,95,000.00 vide Letter of Sanction dated 22.08.204, 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 GAHIR 941 bearing Registration No. PB13BT3895, Chassis No. NGAI941H240068, Engine No. RNHM766854, vide Tax Invoice dated 28.08.2024 and Registration Certificate, which are Annexures A11 & A12 to this OA. Documents executed : Demand Promissory Note, Letter of Continuity, Letter of Undertaking from the Borrower, Term Loan Agreement (Hypothecation of Movables), Hypothecation Agreement, Hypothecation (Vehicles) Agreement, Simple Loan Agreement, all dated 22.08.2024, which are Annexures A4 to A10 to this OA; Overdue Notice dated 22.09.2025, along with postal receipt, which is Annexure A13 to this OA; Statement of account along with certificate, which is Annexure A14 to this OA. 5. The loan account became irregular and was classified as NPA and after adjusting debit and credit entries in the loan account, there was a debit of Rs.20,71,194.00, 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. 6. The defendant was served summons to appear before this Tribunal, but no one appeared on behalf of the defendant and he was proceeded ex-parte vide order dated 06.08.2026. 7. In support of the OA, affidavit of Sh. Sujeet Kumar, Branch Manager, Union Bank of India h as been filed. 8. Heard ex-parte arguments and perused record.
