2.
The brief facts of the OA are that the defendant approached the
applicant for grant of Term Loan facility for purchase of Tractor and |
| Agriculture Implements of Rs.30,00,000.00 vide Application Form for |
Agricultural Credit dated 16.11.2024, which isAnnexure A2to this
OA. |
3.
The applicant sanctioned the Term Loan Facility for purchase of
Tractor and Agriculture Implements of Rs.30,00,000.00 vide Letter of
Arrangement dated 18.01.2025, which isAnnexure A3to this OA and
terms and conditions were duly accepted by the defendant. |
4.
Defendant hypothecated his Moveable Assets i.e., Tractor model |
| DI 60 HDM along with agriculture implements bearing Registration No. |
PB10JW2349,
Chassis
No.
BZBDL1544427S3,
Engine
No. |
4107NHT54A1524198F32
vide
Tax
Invoices
dated
20.01.2025, |
01.02.2025, 06.02.2025 along with Registration Certificate, which is
Annexure A5to this OA. |
| Documents executed:Hypothecation Agreement dated 18.01.2025, |
| which isAnnexure A4to this OA; Legal Notice dated 11.02.2026, |
| along with postal receipt, which isAnnexure A6to this OA; |
| Statement of account along with certificate, which isAnnexure A7to |
| 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.28,91,060.00, 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 08.07.2026. |
| 7. In support of the OA, affidavit ofSh. Dinesh Bishnoi, Branch |
| Manager, State Bank of India has been filed. |
