Applicant No.1 is a private limited company engaged in the business of quarries and running crusher operations whereas Applicant No.2 is the Managing Director of the Applicant No. 1 Company and Applicant No.3 is its Director. Applicant No.2 is a special class contractor and he along with his wife, Applicant No.3 availed credit facilities to a tune of Rs. 14.90 crores for the purpose of business of the Applicant No.l from State Bank of Hyderabad. The Applicant No. 1 company cleared the entire loan amount pertaining to the purchase of plant and machinery and obtained no objection from the Bank but the Bank did not return the original invoices of the plant and machinery of the Applicant No. 1. The Applicant No. t has availed Cash credit facilities under different loan accounts from the Respondent Bank against the plant and machinery and also the stocks etc. as security. Applicants No.2&3 besides offering their personal guarantees, also crgqfe{;,mii-ftgeg9. against Schedule-ll property as security for the c redfl facil ities. lnj tJ.r4 rneanwhile, Sate Bank of Hyderabad merged with State"Bank !. ., of India i and.qhe 'r--\ ._ Applicant No. I closed various loan accounts .:r" and'stillf4s r,lli .,,. l-..* liiln.account and Cash Credir account with the Responaenl #itl.''tfrr. toti*nrrend in real esrare business, the Appiicanr not make gornq itiistalments. Thereafter, the Respondent issued de 22 and even after issuance of the demand notice, paid substantial amounts. Without considering the
