1. This application is filed under Section 19 of Recovery of Debts Due to the Banks and Financial Institutions Act, 1993 to pass an order directing the defendants to pay an amount of Rs. 26,15,77,553-85 ps [Rs. 6,44,79,902.78 ps in OD A/c No:947096014, Rs. 4,08,75,326.37 ps in BG A/c No:6422656743, Rs. 56,19,034.70 ps in BG A/c No:6384559503 & Rs. 15,06,03,290/- in BG A/c No:0004/2011-12] along with future interest @13% p.a. with monthly rests plus @2%p.a. penal interest from the date of OA till the realization of the entire amount and for issue of Recovery Certificate accordingly.

2. According to the facts of the case in brief, the 1st defendant approached the applicant bank for grant of Secured Over Draft facility of Rs. 5,00,00,000/- and the bank guarantee limits of Rs. 35,00,00,000/-. Defendants 2 to 4 have offered their personal guarantee & 7th defendant being private limited company has offered its Corporate Guarantee in addition to offer its property as collateral security by way of equitable mortgage by deposit of title deeds for the said limits. The defendants executed all necessary loaning documents to avail the loan.

3. It is submitted that the defendants failed to maintain the account as per terms and conditions of loan agreement of the account and issued legal notice on 24.05.2018. The bank official met the defendants personally and demanded the defendants to repay the entire outstanding amount and the bank initiated u/s. 13(2) of SARFAESI proceedings issued a demand notice as the defendant failed to comply the demand made by the bank, even till day the defendants are not in a position to clear up the outstanding amount. As the defendants failed to close the account the bank has no other go except to realize the due amount and thus filed the OA for recovery of the outstanding amount.

4. Sri Inampudi Ramgopal, Senior Manager of applicant bank filed the evidence on affidavit along with the attested copies of the documents which have been proved and marked as Ex. A1 to A43 viz. Evidence affidavit, List of documents, Sanction letter, Demand Promissory Note for Rs. 5,00,00,000/-, Letter of continuity, Agreement for Open Cash Credit (stocks and Book debts), Agreement of Guarantee executed by defendants 2 to 4, Agreement of Guarantee executed by 7th defendant, Disposal of Proceeds letter executed by 1st defendant, Letter of Pegging executed by 1st defendant, Renewal sanction letter duly signed by 1st defendant, Renewal sanction letter duly signed by 1st defendant, Extension No. 1 of Guarantee got issued by Applicant bank at the request of defendants favoring M/s. Ultra Tech Cements Ltd., New Delhi, Extension No:2 of Guarantee got issued by Applicant bank at the request of defendants favoring M/s. Ultra Tech Cements Ltd., New Delhi, Extension No:3 of Guarantee got issued by Applicant bank at the request of defendants favoring M/s. Ultra Tech Cements Ltd., New Delhi, Extension No:4 of Guarantee got issued by Applicant bank at the request of defendants favoring M/s. Ultra Tech Cements Ltd., New Delhi, Extension No:5 of Guarantee got issued by Applicant bank at the request of defendants favoring M/s. Ultra Tech Cements Ltd., New Delhi, Extension No:6 of Guarantee got issued by Applicant bank at the request of defendants favoring M/s. Ultra Tech Cements Ltd., New Delhi, Demand of payment duly invoking BG raised against M/s. Ultra Tech Cements Ltd., New Delhi got issued by applicant bank for Rs. 50,00,000/-, Bank Guarantee got issued by Applicant bank at the request of defendants favoring M/s. The Director General, Married Accommodation Project, Kashmir House, Rajaji Marg, New Delhi - vide No:02/2012-13 supported with its correction letter dt. 14.05.2012, Extension No:1 of Guarantee got issued by Applicant bank at the request of defendants favoring M/s. The Director General, Married Accommodation Project, Kashmir House, Rajaji Marg, New Delhi, Extension No:2 of Guarantee got issued by Applicant bank at the request of defendants favoring M/s. The Director General, Married Accommodation Project, Kashmir House, Rajaji Marg, New Delhi, Extension No:3 of Guarantee got issued by Applicant bank at the request of defendants favoring M/s. The Director General, Married Accommodation Project, Kashmir House, Rajaji Marg, New Delhi, Extension No:4 of Guarantee got issued by Applicant bank at the request of defendants favoring M/s. The Director General, Married Accommodation Project, Kashmir House, Rajaji Marg, New Delhi, Extension No. 5 of Guarantee got issued by Applicant bank at the request of defendants favoring M/s. The Director General, Married Accommodation Project, Kashmir House, Rajaji Marg, New Delhi, Extension No:6 of Guarantee got issued by Applicant bank at the request of defendants favoring M/s. The Director General, Married Accommodation Project, Kashmir House, Rajaji Marg, New Delhi, Demand of payment duly invoking BG raised by M/s. The Director General, Married Accommodation Project, Kashmir House, Rajaji Marg, New Delhi got issued to applicant bank for Rs. 3,95,11,672/-, Intimation of invocation of BG to 1st defendant which was made by M/s. The Director General, Married Accommodation Project, Kashmir House, Rajaji Marg, New Delhi supported with its acknowledgements, BG issued to Karnataka State High Ways Improvement Project, Bangalore vide BG No:04/2011, dt. 31.05.2011 Rs. 15,01,20,994/- along with copies of order passed by the hon'ble Prl. City Civil & Sessions Judge, at Bangalore and its supporting documents - restraining the applicant bank not to make any payment to Karnataka High Ways Project in which an amount of Rs. 15,01,20,994/- of BG issued by Applicant bank, Counter Guarantee executed by 1st defendant for Rs. 35.00 Crores in favour of applicant bank, Acknowledgement of Debt duly signed by Borrower & Guarantors, Sec. 13 (2) Under the provisions of SARFAESI Act notice got issued to defendants supported with its acknowledgements by the applicant bank, Publication of Sec. 13 (2) Under the provisions of SARFAESI Act notice caused in Indian Express and Eenadu of Hyderabad and Vijayawada Editions on 15.01.2016 by the applicant bank, Possession Notice under SARFAESI act got issued by applicant bank against the secured assets supported with its acknowledgements, Publication of Possession Notice Under the provisions of SARFAESI Act notice caused in Indian Express and Eenadu of Hyderabad, Vizag and Vijayawada Editions on 17.04.2016 by the applicant bank, Auction Notice under Rule 6 (2) & 8 (2) of SARFAESI Rules on 02.07.2016 got issued by applicant bank against the secured assets supported with its acknowledgements and returned covers of defendants, Publication of E-Auction Notices caused in Indian Express and Eenadu of Hyderabad, Vizag and Vijayawada Editions on 02.07.2016 by the applicant bank by Applicant bank, Memorandum of Deposit of Title Deeds duly registered, EM register abstract maintained at applicant bank, Sale Deed Number 581/2010 standing on the name of 7th Defendant herein, Statement of accounts for OD facility in A/c No:947096014, Statement of accounts for Defaulted BG in A/c No:9422656743/Statement of accounts for Defaulted BG in A/c No:6384559503, General Power of Attorney, respectively.

Thus the Applicant prays that the Tribunal to pass an order and issue a Recovery Certificate for a sum of Rs. 26,15,77,553-85 ps [Rs. 6,44,79,902.78 ps in OD A/c No:947096014, Rs. 4,08,75,326.37 ps in BG A/c No:6422656743, Rs. 56,19,034.70 ps in BG A/c No:6384559503 & Rs. 15,06,03,290/- in BG A/c No:0004/2011-12] along with future interest @13% p.a. with monthly rests plus @2%p.a. penal interest till the date of realization.

5. Heard the learned Counsel for applicant bank and having perused the OA, and also evidence affidavit filed along with documents and marked as above exhibits, and in view of the uncontroverted averments made in the application, the claim of the applicant bank is proved against defendants and OA deserves to be allowed with costs, for recovery of an amount of Rs. 26,15,77,553-85 ps [Rs. 6,44,79,902.78 ps in OD A/c No:947096014, Rs. 4,08,75,326.37 ps in BG A/c No:6422656743, Rs. 56,19,034.70 ps in BG A/c No:6384559503 & Rs. 15,06,03,290/- in BG A/c No:0004/2011-12] along with future interest @13% p.a. w

ith monthly rests from the date of OA, till the date of realization, to be recovered from the defendants jointly & severally. 6. In the result, the OA is allowed with costs. Issue Recovery Certificate for an amount of Rs. 26,15,77,553-85 ps [Rs. 6,44,79,902.78 ps in OD A/c No:947096014, Rs. 4,08,75,326.37 ps in BG A/c No:6422656743, Rs. 56,19,034.70 ps in BG A/c No:6384559503 & Rs. 15,06,03,290/- in BG A/c No:0004/2011-12] along with future interest @13% p.a. with monthly rests from the date of OA, till the date of realization, to be recovered from the defendants jointly & severally and personally and also by sale of mortgaged/hypothecated property, if any. Accordingly issue Recovery Certificate. Let the copy of order be made available to the parties as per rule. [Typed to the dictation, corrected and pronounced by me in the open court on this 3rd day of January, 2010.]