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3. The appellant No. 1 further approached the respondent No. 1 Bank for sanction of2nd term loan of Rs. 15.00 crores on 18th October, 1999 to liquidate the liability of loan for working capital availed from HUDCO and to complete the infrastructure i.e. construction of building by Larsen & Toubro Ltd. Respondent No. 1 Bank sanctioned another term loan No. 2 for a sum of Rs. 10.00 crores on 26th November, 1999 for its payment to HUDCO in order to liquidate the liability of appellant No. 1 and for this appellant No. 1 created an equitable mortgage of various flats owned by appellant No. 1 situated at Ghaziabad as well as vacant land owned by petitioner situated at Chennai, which had also been mortgaged for payment of first loan of Rs. 9.36 crores. Appellant No. 1 availed the 2nd term loan amount of Rs. 10.00 crores to liquidate the liability of working capital availed from HUDCO and for the payment to Larsen & Toubro Ltd. For construction of medical college building, the appellant No. 1 paid a sum of Rs. 19,40,000/- on 3rd May, 2000 and a sum of Rs. 6,50,000/- on 5th June, 2000, thus a sum of Rs. 25,90,000/- was paid towards term loan No. 2. The respondent No. 1 Bank did not receive the instalments in connection with above two term loans. Then notice was issued to the appellants and thereafter a suit for recovery of Rs. 26,75,98,861/- was filed claiming interest pendente lite and future @ 16% with quarterly rests covering both the loans. The Bank pleaded in the original application filed before the D.R.T. that the appellant No. 1 was a public charitable trust with object of advancement of education for establishment of nursing college, medical reliefs, advancement of other objects for general public utility. The required documents for above two loans were executed by the appellants and the properties were mortgaged as per the requirements. The Syndicate Bank was also impleaded as party in the original application and it claimed its first charge over the flats situated at Ghaziabad on the basis of equitable mortgage in its favour.