powers conferred by sub section 3 of section 50 of the State Bank of India Act, 1955 with the previous sanction of the Central Government. 2. The brief facts of the OA are that the defendant no.1 approached the applicant for grant of KCC Limit of Rs.11.60 Lacs vide loan application dated 18.01.2016 and thereafter, for Term Loan of Rs.1.00 Lac for Debt Swap vide loan application dated 02.02.2016. Defendant no. 2 stood as guarantor. 3. The applicant sanctioned KCC Limit of Rs.11.60 Lacs vide sanction dated 21.01.2016, which is Annexure A1 to this OA and thereafter, sanctioned Term Loan of Rs.1.00 Lac for Debt Swap vide Sanction and letter of arrangement dated 02.02.2016, which are Annexures A2 and A3 to this OA and the terms and conditions were duly accepted by the defendants. 4. Defendant no. 1 mortgaged his immovable property i.e. Land measuring 60Kanal-00Marla situated at Village Jaurkian, Tehsil Sardulgarh, District Mans a, Punjab, vide declaration u/s 4(1) dated 29.01.2016, along with its translation, which are Annexures A7 to A7/T to this OA; Jamabandi for the year 2010-2011, along with its translation, which are Annexures A8 to A8T to this OA.
