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However, an application for substitution of AR of Plaintiff was filed and Sh. Devender Singh Rawat was substituted as AR of the Plaintiff Company on 23.09.2021. Plaintiff is a body corporate constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970. Plaintiff sanctioned a 'Term Loan' to the defendant, a proprietorship firm, for Rs. 1,50,000/- and 'Cash Credit Limit' of Rs. 5,00,000/- vide sanction letter dated 26.02.2018. The defendant executed the loan documents i.e., Undertaking dated 26.02.2018, Composite deed of hypothecation dated 26.02.2018 for 'Term Loan' for the sum of Rs. 6,50,000/- (Rupees Six Lacs and fifty thousand only), Demand Promissory Note dated 26.02.2018, A-47 dated 26.02.2018 and A-3-UTI dated 26.02.2018. Vide loan account no. 10270610008188, plaintiff bank disbursed the loan to the defendant on 26.02.2018. 'Cash Credit Limit' for Rs. 5,00,000/- (Rupees Four Lacs only) vide account no. 10270510001028 on 26.02.2018 was disbursed to defendant by plaintiff bank. As per case of the plaintiff, the defendant was required to repay the loan through 60 equated monthly Installments of Rs. 3,158/- each commencing from 31.03.2018. Interest @ MCLR + 0.15% i.e. 8.60% per annum subject to change in MCLR from time to time as per RBI guidelines and penal interest @ 2% per annum has been claimed. Defendant failed to abide by the repayment schedule and had defaulted in payment of installments despite repeated requests. The account of defendant was classified as NPA on 31.05.2019. Thereafter plaintiff issued and served upon the defendant a Legal Demand Notice dated 20.06.2019. 

          S.No                    Documents                             Exhibit
          1.              Loan application              dated           Ex.

          2.              Sanction    letter            dated           Ex.

          3.              Under      taking             dated           Ex.

          4.         Composite Deed             of           Ex.

                     26.02.2018.
          5.         Demand Promissory Note                             Ex.

          6.         A-47 dated 26.02.2018.                             Ex.

          7.         A-3-UTI dated 26.02.2018.                          Ex.

          8.              Recall     letter   dated                     Ex.

                          and Legal Demand Notice                       (Colly)


                           dated 20.06.2019.
          9.              Statement     of    account                   Ex.
                          alongwith Certificate under                   PW1/9
                          Section 2A (a&b) of Bankers                   (Colly)
                          book of evidence.
          10.             Pre-Litigation Non-Starter                    Ex.
                          Mediation report dated                        PW1/10
                          23.12.2019.

4. I have heard the learned counsel for the plaintiff and carefully gone through the record.

5. In his unrebutted testimony from the documents PW-1 has clearly proved the Loan application dated 28.12.2017 as Ex. PW1/1; Sanction letter dated 26.02.2018 as Ex. PW1/2; Under taking dated 26.02.2018 as Ex. PW1/3; Composite Deed of Hypothecation dated 26.02.2018 as Ex. PW1/4; Demand Promissory Note dated 26.02.2018 as Ex. PW1/5; A-47 dated 26.02.2018 as Ex. PW1/6, A-3-UTI dated 26.02.2018 as Ex. PW1/7; Recall letter dated 07.05.2019 and 01.06.2019 and Legal Demand Notice dated 20.06.2019 as Ex. PW1/8 (Colly); Statement of account alongwith Certificate under Section 2A (a&b) of Bankers book of evidence as Ex. PW1/9 (Colly) and Pre-Litigation Non-Starter Mediation report dated 23.12.2019 as Ex. PW/10.