Documents executed: Demand Promissory Note dated 03.05.2023, which is Annexure A6 to this OA; Power of Attorney dated 03.05.2023, which is Annexure A7 to this OA; Demand Promissory Note dated 07.05.2024, which is Annexure A11 to this OA; Power of Attorney dated 07.05.2024, which is Annexure A12 to this OA; Loan Recall Notice dated 24.05.2025, which is Annexure A13 to this OA; Statement of Accounts, which are Annexures A14 to A16 to this OA. 5. The loan accounts became irregular and were classified as NPA and after adjusting debit and credit entries in loan accounts, there was a debit of Rs.1,09,96,870.55 (Rupees One Crore Nine Lakh Ninety Six Thousand Eight Hundred Seventy and Paise Fifty Five Only), which is recoverable and the defendants were served recall notices but they did not repay the outstanding amount, therefore, the applicant requested to accept the application and to issue Recovery Certificate accordingly. 6. The defendants were served summons to appear before this Tribunal but no one appeared on behalf of defendants and they were proceeded ex-parte vide order dated 07.07.2026. 7. In support of the OA, affidavit of Sh. Rakesh Kumar, Manager, Kotak Mahindra Bank Limited, h as been filed. 8. Heard ex-parte arguments and perused record. 9. It was argued by learned counsel for applicant that in view of the documentary evidence brought on record which had gone unrebutted, the applicant had proved its case. From the perusal of all the Annexures A1 to A16 to this OA, it is proved that the defendant no. 1 through its proprietor defendant no. 2, approached applicant for availing of the Term Loan-I & II, which were granted to them. Defendant no. 3 stood as guarantor. Thereafter, that the defendant no. 1 through its proprietor defendant no. 2, approached applicant for availing of the Term Loan-III, which was granted to them.
