PUNJAB NATIONAL BANK (ORIENTAL BANK OF COMMERCE) vs HANUNG TOYS AND TEXTILES PVT LTD on 17 October 2025

1. 1. **M/s Hanung Toys & Textiles Limited** (A Limited Company incorporated under the Companies Act, 1956) Through its Managing Directors

**Registered Office at :**

E-93, Greater Kailash, Part-I, New Delhi – 110046

**Corporate Office at :**

Plot No. 108-109, NSEZ, Noida – 201305 India

**Also at :**

Plot No. 110 and 125, NSEZ, Noida India

1. 2. **Mr. Ashok Kumar Bansal,** (Director / Guarantor)

House No. C-24, Greater Kailash Enclave – I, New Delhi – 110048

1. 3. **Mrs. Anju Bansal,** W/o Sh. Ashok Kumar Bansal, (Director & Guarantor)

R/o House No. C-24, Greater Kailash, Enclave – I, New Delhi – 110048

1. 4. **M/s Ashok Kumar Bansal (HUF),** (Guarantor)

House No. C-24, Greater Kailash, Enclave – I, New Delhi – 110048

1. 5. **M/s Praneet Softech Pvt. Ltd.** (Corporate Guarantor)

C-24,

Greater Kailash, Enclave – I, New Delhi – 110048

**Also at :**

A-21, 4 Hosiery Complex, Phase-II, Noida, Uttar Pradesh

6. **M/s C.K. Software (P) Ltd.** (Corporate Guarantor) C-24, Greater Kailash, Enclave – I, New Delhi – 110048

**Also at :**

E-1, Sector-59, Phase-III, Noida, Uttar Pradesh

7. **M/s Sankalpa Overseas (P) Ltd.** (Corporate Guarantor) C-24, Greater Kailash, Enclave – I, New Delhi – 110048

**Also at :**

G-20, Sector-6, Noida, Uttar Pradesh

8. **M/s Hanung Furnishing (P) Ltd.** (Corporate Guarantor) C-24, Greater Kailash, Enclave – I, New Delhi – 110048

**Also at :**

A-21, 4 Hosiery Complex, Phase-II, Noida, Uttar Pradesh

**Also at :**

Plot No. 115, NSEZ, Noida, Uttar Pradesh

**9. M/s Hanung Processors Pvt. Ltd.**

(Corporate Guarantor)

C-24, Greater Kailash, Enclave – I, New Delhi – 110048

**Also at :**

B-7, Hosiery Complex, Phase-II, Noida, Uttar Pradesh

**10. M/s Abhinav International Pvt. Ltd.**

(Corporate Guarantor)

0-24, Greater Kailash, Enclave – I, New Delhi – 110048

**Also at :**

B-7, Hosiery Complex, Phase-II, Noida, Uttar Pradesh

**11. M/s Glofin Investment and Finance Co. Pvt. Ltd.**

(Corporate Guarantor)

C-24, Greater Kailash, Enclave – I, New Delhi – 110048

**12. M/s Hanung Retail Limited**

(Corporate Guarantor)

C-24, Greater Kailash, Enclave – I, New Delhi – 110048

13. **M/s Hanung Infra and Power Limited** (Corporate Guarantor) C-24, Greater Kailash, Enclave – I, New Delhi – 110048

14. **Union Bank of India (UBI)** (Performa Defendant)

**Registered Office :**

239, Vidhan Bhawan Marg, Mumbai

**Address for service of all notices :**

14/15-F, Connaught Place, New Delhi

15. **ICICI Bank Limited (ICICI)** (Performa Defendant)

**Registered Office :**

ICICI Bank Limited, Landmark, Race Course Circle, Vadodara – 390007

**Address for service of all notices :**

NBCC Building, Lodhi Road, New Delhi – 110003

.....Defendants

**Date of Institution: 15.01.2016**

**Date of Reserving the Order : 03.10.2025**

**Date of Pronouncement: 17.10.2025**

Counsels : Ms. Ashmita Kumar, for all the applicants.

Ms. Aarohi Mikkilineni, for defendants no. 2 to 11.

Defendants no. 4 to 13 are already ex parte since 09.01.2024.

Defendants no. 14 & 15 are performa defendants.

Defendants no. 1 to 3 are before Ld. NCLT, Delhi.

FINAL ORDER

1. This original application has been filed by the applicant banks no. 1 to 13, on 15.01.2016, through Mr. Sudarshan Narayan Sahay, Chief Manager of Applicant no. 1; Ms. Aditi Singh, Authorized Signatory of Applicant no. 2; Mr. Rajender Pal Chandel, Chief Manager of Applicant no. 3; Mr. Prabudh Sharma, Chief Manager of Applicant no. 4; Mr. Saneh Deep Chopra, Assistant General Manager of Applicant no. 5; Mr. A.K. Pahwa, Senior Manager of Applicant no. 6; Mr. V.V. Natarajan, Assistant General Manager of Applicant no. 7; Mr. Ajith K.R. Chief Manager of Applicant no. 8, Mr. Laxminaryan Rath, Dy. General Manager of Applicant no. 9; Mr. Nemichand, Chief Manager of Applicant no. 10; Mr. Jai Prakash Agiwal, Chief Manager of Applicant no. 11; Mr. Darshan Singh, Chief Manager of Applicant no. 12 and Mr. Tarun Sharma, DGM & RM of Applicant no. 13, being authorized representatives of Applicants, under Section 19 of the Recovery of Debts Due to Banks and Financial Institution Act, 1993 against the defendants no. 1 to 11 for recovery of a sum of Rs. 2579,64,49,029.11 (Rupees Two Thousand Five Hundred Seventy Nine Crore Sixty Four Lakh Forty Nine Thousand Twenty Nine and Paisa Eleven only) as on 31.12.2015 along with interest at the rate of 14.50% p.a. together with additional penal interest @2% with monthly rests on sanctioned facilities w.e.f. 01.01.2016 till the final realization along with all costs and charges alongwith other relief(s). It is pertinent to note here that the details of respective amount(s) due to applicant banks no. 1 to 13 have been given in Para 5(5.102) of the OA.

1.2 It is important to note here that during the pendency of this OA, IA no. 358/2017 was filed on behalf of applicant no. 2 herein i.e. Edelweiss Asset Reconstruction Company Limited for amendment of its outstanding to be recovered from the defendants which was allowed vide order dated 21.07.2017 passed by the Tribunal and the amended OA was filed by the applicant banks.

As per the Amended OA, the applicant banks no. 1 to 13 have sought recovery of amount viz. Rs. 2710,39,79,436.80 (Rupees Two Thousand Seven Hundred and Ten Crore Thirty Nine Lakh Seventy Nine Thousand Four Hundred Thirty Six and Paise Eighty only) as well as other relief(s) (as in original OA) qua defendants no. 1 to 11. It is pertinent to note here that the details of respective amount(s) due to applicant banks no. 1 to 13 have been given in Para 5(5.102) of the Amended OA as well.

1.3 It is also pertinent to mention here that during the pendency of this OA, IA no. 635/2025 was also filed by the Applicant No. 1 Bank / PNB for seeking amendment of the prayer clause to the effect that the recovery certificate be issued against Defendants no. 1 to 13 instead of Defendants no. 1 to 11. The said IA was allowed vide order dated 16.09.2025 passed by this Tribunal and the Applicant Bank was permitted to amend Para 6(A) of the Relief Prayer Clause to include Defendants no. 1 to 13 in place of Defendants No. 1 to 11.

In the light of above order dated 16.09.2025 passed in IA No. 635/2025, it is clear that the applicant banks have sought the Recovery Certificate in this OA qua Defendants no. 1 to 13, jointly, severally, and co-extensively instead of Defendants no. 1 to 11.

1.4 It is pertinent to note here that this OA bearing no. 82/2016 was originally filed before Ld. DRT-II, Delhi, however, in pursuance to Gazette Notification No. 4718 (E) dated 04.10.2022 issued by Government of India, Department of Financial Services, Ministry of Finance, this case file was transferred by Ld. DRT-II, Delhi to this Tribunal in October 2022 and was numbered at TA-239/2022.

2. The brief facts of this case (as per amended OA) are that that the Defendant No. 1 Company has been availing loan facilities from the Applicant Banks and the Performa defendant since a very long time almost since 1999. It is stated in the OA that initially different banks were giving credit facilities individually and some under the consortium lead by Applicant Bank no. 1 since 2002, however, later a consortium was formed with 16 member Banks, although most of the Banks had already joined the Consortium in the year 2011 and it was just that 2-3 members had joined in subsequently in 2013. It is further stated that the Applicant Banks are duly registered constituted/incorporated bodies under various Acts. Since the loan facility was disbursed under a Consortium, inter-se agreements were signed between the member of the Consortium of Banks (including the Applicants and the Performa Defendant Bank No. 14 and 15), in terms of the same, Applicant Bank No. 1, Punjab National Bank, was appointed as the Lead Bank of the Consortium. It is pertinent to mention that some facilities are outside the said consortium for which individual documentation has been executed by the borrowers/defendants in favour of the sanctioning Applicant bank and since all the Applicants had not joined the consortium at the same time, so bank have been executing the individual loaning and security documents. However is pertinent to mention that all the securities furnished by the Borrowers/Defendants to the Applicant are common, thus a present common suit is being filed. The present OA is being instituted by duly authorized officials of the Applicant Nos. I to 13 i.e. PNB, Edelweiss, SB, OBC, BOB, BOI, CBI, KBL, AB, UCO, KVB, BOM and EB namely Mr. Sudarshan Narayan Sahay, Chief Manager of Applicant no. 1; Ms. Aditi Singh, Authorized Signatory of Applicant no. 2; Mr. Rajender Pal Chandel, Chief Manager of Applicant no. 3; Mr. Prabudh Sharma, Chief Manager of Applicant no. 4; Saneh Deep Chopra, Assistant General Manager of Applicant no. 5; Mr. A.K. Pahwa, Senior Manager of Applicant no. 6; Mr. V.V. Natarajan, Assistant General Manager of Applicant no. 7; Mr. Ajith K.R. Chief Manager of Applicant no. 8, Mr. Laxminaryan Rath, Dy. General Manager of Applicant no. 9; Mr. Nemichand, Chief Manager of Applicant no. 10; Mr. Jai Prakash Agiwal, Chief Manager of Applicant no. 11; Mr. Darshan Singh, Chief Manager of Applicant no. 12 and Mr. Tarun Sharma, DGM & RM of Applicant no. 13 who have been duly authorized by the Board of Directors of the respective Banks to take all such steps as may be necessary at any time to recover the monies from the defendants who had borrowed the loans / facilities from the Banks. The same includes initiation of 

legal action against the defaulting borrower. It is stated that this power has been entrusted upon the Bank officials vide their General Power of Attorney/Authorization letters that have been issued to them by their respective Banks.

2.1 It is stated in the OA that the Defendant No. 1 Company is the Principal borrower which obtained various credit facilities from the members of the Consortium of Banks, led by Applicant Bank No. 1 (PNB) from time to time. The Defendants Nos. 2 to 3 have provided/furnished Personal Guarantees to secure the different facilities availed by Defendant No. 1 Company. Defendant No. 4 is a HUF and has also provided its guarantee. The Defendant Nos. 5 to 13 executed their Corporate Guarantees to secure the loan facilities extended to the Defendant No. 1 Company and further created equitable mortgage on their immovable properties in favour of the Applicant Banks. Hence, all these Defendants /Borrowers / Guarantors / Mortgagers are jointly, severally, and co-extensively liable to repay the outstanding dues to the Applicant Banks.

It is stated that the Performa Defendant No. 14 (UBI) & 15 (ICICI Bank, Assignee to Applicant No. 2) had also granted loans / credit facilities to the Defendant No. 1 Company under the Consortium and it has pari passu charge over the fixed assets of the Defendant No. 1 Company and the collateral securities provided / furnished by Defendants / Borrowers along with the Applicant Banks.

It is further stated that defendant no. 14 has already filed its OA bearing no. 395/2015, hence, no relief has been sought against any of the performa defendant.

2.2 It is stated in the OA that the first consortium was formed in the year 2002 with some member banks and thereafter as submitted above one after other member bank kept on joining the same and a full-fledged consortium was formed in 2013. It is pertinent to mention that since the financial condition of the Defendants was not very stable thus, the Defendants had requested all the member banks of the consortium to restructure their account and the CDR package was sanctioned in the year 2014 and the documentation for the same was executed on 30.06.2014 but since the Defendants did not comply with the terms and condition of the CDR package as mentioned in the Master Restructuring Agreement, the CDR was revoked by the Consortium member in June 2015. Even in the CDR Scheme, Applicant Bank No.1 like under the Consortium was the leader but as stated due to non-compliance and defaults in meeting the terms and condition of the said scheme by the Defendant, the same was revoked. All the Applicants along with the two Performa Defendant were a part of the CDR.

2.3 It is stated in the OA that for convenience of this Hon'ble Tribunal a gist facilities from 2002 to 2005 is given and the same is as follows:-

<thead> <tr> <th>Year</th> <th>PNB</th> <th>SBI</th> <th>Canara</th> <th>SB</th> <th>BOB</th> <th>UBI</th> </tr> </thead> <tbody> <tr> <td>23.08.2003</td> <td>1215</td> <td>1125</td> <td>870</td> <td>595</td> <td></td> <td></td> </tr> <tr> <td>31.08.2004</td> <td>1565</td> <td></td> <td></td> <td>595</td> <td>1175</td> <td>870</td> </tr> <tr> <td>25.04.2005</td> <td>1545</td> <td></td> <td></td> <td>645</td> <td>1175</td> <td>870</td> </tr> </tbody> </table>

\*Amounts in Lakhs

2.4 It is further stated in the OA that in the end of the year 2006, on the request of the Defendants the member of Consortium and considering the said request the members of the consortium at that time had sanctioned/renewed/enhanced its facilities in the following manner:-

<thead> <tr> <th>Sl. No.</th> <th>Name of the Bank (Member)</th> <th>Fund based + Term Loan</th> <th>Non-Fund Based</th> <th>Total</th> </tr> </thead> <tbody> <tr> <td>1.</td> <td>Punjab National Bank(PNB) Applicant No. 1</td> <td>23.28<br/>+<br/>30.00</td> <td>16.80</td> <td></td> </tr> <tr> <td>2.</td> <td>State Bank of India (SBI) *Loan assigned to EDELWISS Applicant No. 2</td> <td>21.65<br/>+<br/>30.00</td> <td>10.00</td> <td></td> </tr> <tr> <td>3.</td> <td>Syndicate Bank (SB) Applicant No. 3</td> <td>9.20<br/>+<br/>10.00</td> <td>2.25</td> <td></td> </tr> <tr> <td>4.</td> <td>Oriental Bank of Commerce (OBC) Applicant No. 4</td> <td>13.50<br/>+<br/>20.00</td> <td>6.00</td> <td></td> </tr> <tr> <td>5.</td> <td>Bank of Baroda (BOB) Applicant No. 5</td> <td>6.50</td> <td>5.25</td> <td></td> </tr> <tr> <td>6.</td> <td>ICICI Bank Ltd (ICICI) *Loan assigned to EDELWEISS Applicant No. 2</td> <td>10.00</td> <td></td> <td></td> </tr> <tr> <td>7.</td> <td>Union Bank of India (UBI)</td> <td>40.00</td> <td></td> <td></td> </tr> <tr> <td></td> <td><b>Grand Total</b></td> <td><b>169.13.00</b></td> <td><b>40.80</b></td> <td><b>209.93.00</b></td> </tr> </tbody> </table>

\*Amounts in Crore

It is stated in the OA that other than the hypothecating the fixed and the moveable assets of Defendant No.1 for securing the above mentioned limits, some additional securities in form of Personal Guarantees, Corporate Guarantees and Immovable properties were also furnished. The details of all the securities furnished by the defendants for securing the above mentioned limits have been given I Para 5(5.6) of the OA.

It is further stated that the loan facilities availed/to be availed by the Defendants as evident from above were the Fund based facilities, Term Loan and Non-Fund based facilities and the same were to the tune of Rs. 209.93 Crore. The said facilities were sanctioned to the Defendants /Borrowers by the Consortium of Banks, led by Applicant Bank No. 1. The Sanction Letter of Banks of the Consortium enumerated various terms and conditions on which the loan was to be disbursed to the Defendants / Borrowers and since in was a facility under the consortium, the member Banks executed an Inter-se Agreement.

Moreover, to avail the said facilities the defendants had submitted and executed various documents including the loaning and security document in favour of the Applicants as well as Performa Defendants, being member of Consortium. It is stated that the following security documents were submitted and executed :-

- (a) Board resolution of M/s. Hanung Toys and Textile Ltd. dated 27.11.2006;

- (b) Board resolution of M/s. Hanung Processor Private Ltd. dated 27.11.2006;

- (c) Board resolution of M/s. Praneet Softech Private Ltd. dated 27.11.2006;

- (d) Board resolution of M/s. Sankalpa Overseas Private Ltd. dated 27.11.2006;

- (e) Board resolution of M/s. Hanung Furnishing Private Ltd. dated 27.11.2006;

- (f) Board resolution of M/s. C. K Software Private Ltd. dated 27.11.2006;

- (g) Working capital Consortium Agreement dated 16.12.2006;

- (h) Term Loan Agreement dated 16.12.2006 for Rs. 90.0 Crore;

- (i) Letter of nomination nominating and appointing Applicant No. 1, PNB as Lead Bank;

- (j) Letter of ceding for by Applicant No. 2 (SBI) and 3 (SB);

- (k) Joint Deed of Hypothecation dated 16.12.2006;

- (l) Agreement of Guarantee for Rs. 209.93 Crore by Mr. Ashok Kumar Bansal dated 16.12.2006;

- (m) Agreement of Guarantee for Rs. 209.93 Crore by Mrs. Anju Bansal dated 16.12.2006;

- (n) Agreement of Guarantee for Rs. 209.93 Crore by Ashok Kumar Bansal (HUF) dated 16.12.2006;

- (o) Agreement of Guarantee for Rs. 209.93 Crore by M/s. Hanung Processor Private Ltd. dated 16.12.2006;

- (p) Agreement of Guarantee for Rs. 209.93 Crore by M/s. Hanung Furnishing Private Ltd. dated 16.12.2006;

- (q) Agreement of Guarantee for Rs. 209.93 Crore by M/s. Praneet Softech Private Ltd. dated 16.12.2006;

- (r) Agreement of Guarantee for Rs. 209.93 Crore by M/s. Sankalpa Overseas Private Ltd. dated 16.12.2006;

- (s) Agreement of Guarantee for Rs. 209.93 Crore by M/s. C. K Software Private Ltd. dated 16.12.2006;

- (t) Confirmation of deposit of title deed for Property located at plot no. 108-109,110 and 125 NSEZ, Noida, Uttar Pradesh owned by M/s. Hanung Toys and Textiles Limited dated 17.12.2006;

- (u) Confirmation of deposit of title deed for Property located at A-21, Hosiery complex, Phase II, Noida, owned M/s. Pranet Softech Private Limited dated 17.12.2006;

- (v) Confirmation of deposit of title deed for Property Located Block B-1, Sector 59, Phase III, NOIDA, District Gautam Budh Nagar, UP, owned by M/s. C. K. Software Private Limited dated 17.12.2006;

- (w) Confirmation of deposit of title deed for Property located at plot No-115, NSEZ, Noida, owned by M/s Hanung Furnishings Private Limited dated 17.12.2006;

- (x) Confirmation of deposit of title deed for Property located at B-7, Hosiery Complex, Phase-II, NOIDA, District Gautam Budh Nagar, UP owned M/s. Hanung Processors Private Limited dated 17.12.2006;

- (y) Confirmation of deposit of title deed for Property located at G-20, Sector-VI, NOIDA, UP owned M/s. Sankalp Overseas Private Limited dated 17.12.2006;

- (z) Confirmation of deposit of title deed for Property located at E-93, Enclave 1, Second floor and Third Floor, Greater Kailash, New Delhi Mr. Ashok Kumar Bansal dated 17.12.2006;

- (aa) Confirmation of deposit of title deed for Property located at E-93. Enclave 1, Second floor and Third Floor, Greater Kailash. New Delhi Mrs. Anju Bansal dated 17.12.2006;

(bb) Confirmation of deposit of title deed for Property situated at village Lakeshari Pargana Bhagwanpur, Tehsil Roorkee, District Hardwar in the state of Uttarakhand owned by M/s. Hanung Toys and Textiles Limited dated 20.06.2011.

2.5 It is stated in the OA that thereafter in the year 2007, on request Defendant No.1/Borrower Company, the Applicant No.1 PNB enhanced and renewed the existing limits, thereby having an exposure with Defendant No.1/Borrower Company as follows:-

<thead> <tr> <th>Sl. No.</th> <th>Name of the Bank (Member)</th> <th>Fund + Term Loan</th> <th>Non-Fund</th> <th>Total</th> </tr> </thead> <tbody> <tr> <td>1.</td> <td>Punjab National Bank (PNB) Applicant No. 1</td> <td>Existing + 30.00<br/><br/>To 56.40 + 30.00</td> <td>Existing<br/><br/>To 30.00</td> <td></td> </tr> </tbody> </table>

2.6 It is stated that once again in the year 2008, the Defendants/Borrower for the purpose of augmenting its business requested the member of the consortium to enhance the limits of Defendant No.1/Borrower Company and after considering the information and the documents put forth by the defendants, the certain enhanced/renewed limits sanctioned were sanctioned vide the Sanction Letter of Banks of the Consortium. These sanction letter enumerated various terms and conditions on which the loans were to be disbursed to the Defendants / Borrowers and since it was a facility under the consortium, the member Banks executed an Inter-Se Agreement.

The gist of the facilities which were encashed/renewed by the member of the Consortium in 2008, on request of the Defendants are as follows:-

<thead> <tr> <th>Sl. No.</th> <th>Name of the Bank (Member)</th> <th>Fund based + Term Loan</th> <th>Non-Fund based</th> <th>Total</th> </tr> </thead> <tbody> <tr> <td>1.</td> <td>Punjab National Bank (PNB)<br/>Applicant No. 1</td> <td>56.40<br/>+<br/>30.00</td> <td>26.40</td> <td></td> </tr> <tr> <td>2.</td> <td>State Bank of India (SBI) *Loan assigned to EDELWEISS<br/>Applicant No. 2</td> <td>50.00<br/>+<br/>32.77</td> <td>21.00</td> <td></td> </tr> <tr> <td>3.</td> <td>Syndicate Bank (SB)<br/>Applicant No. 3</td> <td>2500<br/>+<br/>11.32</td> <td>10.00</td> <td></td> </tr> <tr> <td>4.</td> <td>Oriental Bank Of Commerce (OBC)<br/>Applicant No. 4</td> <td>30.00<br/>+<br/>20.00</td> <td>12.00</td> <td></td> </tr> <tr> <td>5.</td> <td>ICICI Bank Ltd. (ICICI) *Loan assigned to EDELWEISS<br/>Applicant No. 2</td> <td>5.00</td> <td>15.00</td> <td></td> </tr> <tr> <td>6.</td> <td>Union Bank of India (UBI)</td> <td>15.00</td> <td>10.00</td> <td></td> </tr> <tr> <td colspan="2"><b>Grand Total</b></td> <td><b>274.99</b></td> <td><b>94.40</b></td> <td><b>369.39</b></td> </tr> </tbody> </table>

It is stated in the OA that other than the hypothecating the fixed and the moveable assets of Defendant No.1 for securing the above-mentioned limits, some additional securities in form of Personal Guarantees, Corporate Guarantees and Immovable properties were also furnished. The details of all the securities furnished by the defendants for securing the above mentioned limits have been given in Para 5(5.12) of the OA.

Further, to avail the said facilities, the defendants had submitted and executed various documents including the loaning and security document in favour of the as well as Performa Defendants as mentioned in Para 5.10 of OA being member of Consortium. Vide these documents the facilities availed by the defendants were acknowledged with an undertaking to repay the same with the interest charged thereon, to fulfil the terms and conditions as enumerated in the sanction letters of member Banks and further securities in favour of the said applicants were created to secure the monies lent by them. The documents which were submitted and executed were as follows:-

- (a) Board resolution of M/s. Hanung Toys and Textile Ltd. dated 13.02.2008

- (b) Board resolution of M/s. Hanung Processor Private Ltd. dated 13.02.2008

- (c) Board resolution of M/s. Praneet Softtech Private Ltd. dated 13.02.2008

- (d) Board resolution of M/s. Sankalpa Overseas Private Ltd. dated 13.02.2008

- (e) Board resolution of M/s. Hanung Furnishing Private Ltd. dated 13.02.2008

- (f) Board resolution of Ms. C. K Software Private Ltd dated 13.02.2008

- (g) Working capital Consortium Agreement dated 18.03.2008

- (h) Joint Agreement for documentary credit dated 18.03.2008 for Rs. 94.40 Crore

- (i) Joint Deed of Hypothecation dated 18.03.2008 for Rs. 369.39 Crore

- (j) Letter of nomination nominating and appointing Applicant No. 1. PNB as Lead Bank

- (k) Agreement of Guarantee for Rs. 369.39 Crore by Mr. Ashok Kumar Bansal dated 18.03.2008

- (l) Agreement of Guarantee for Rs. 369.39 Crore by Mrs. Anju Bansal dated 18.03.2008

- (m) Agreement of Guarantee for Rs. 369.39 Crore by Ashok Kumar Bansal (HUF) dated 18.03.2008

- (n) Confirmation of deposit of title deed for Property situated at village Lakeshari Pargana Bhagwanpur. Tehsil Roorkee, District Hardwar in the state of Uttarakhand owned by M/s. Hanung Toys and Textiles Limited dated 19.03.2008

- (o) Agreement of Guarantee for Rs. 369.39 Crore by M/s. Hanung Processor Private Ltd. dated 18.03.2008

- (p) Agreement of Guarantee for Rs. 369.39 Crore by Ms. Haming Furnishing Private Ltd dated 18.03.2008

- (q) Agreement of Guarantee for Rs. 369.39 Crore by M/s. Pranet Softech Private Ltd. dated 18.03.2008

- (r) Agreement of Guarantee for Rs. 369.39 Crore by M/s. Sankalpa Overseas Private Ltd. dated 18.03.2008

- (s) Agreement of Guarantee for Rs. 369.39 Crore by M/s. C. K Software Private Ltd. dated 18.03.2008

- (t) Confirmation of deposit of title deed for Property located at plot no. 108-109,110 and 125 NSEZ, Noida, Uttar Pradesh owned by M/s. Hanung Toys and Textiles Limited dated 19.03.2008

- (u) Confirmation of deposit of title deed for Property located at A-21, Hosiery complex, Phase II, Noida, owned M/s. Pranet Softech Private Limited dated 19.03.2008

- (v) Confirmation of deposit of title deed for Property Located Block B-1, Sector 59, Phase III, NOIDA, District Gautam Budh Nagar, UP, owned by M/s. C. K. Software Private Limited dated 19.03.2008

- (w) Confirmation of deposit of title deed for Property located at plot No-115, NSEZ, Noida, owned M/s. Hanung Furnishings Private Limited dated 19.03.2008

- (x) Confirmation of deposit of title deed for Property located at B-7. Hosiery Complex, Phase-11, NOIDA, District Gautam Budh Nagar. UP owned M/s. Hanung Processors Private Limited dated 19.03.2008

- (y) Confirmation of deposit of title deed for Property located at G-20, Sector-VI, NOIDA, UP owned M/s. Sankalp Overseas Private Limited dated 19.03.2008

- (z) Confirmation of deposit of title deed for Property located at E-93, Enclave 1, Second floor and Third Floor, Greater Kailash, New Delhi Mr. Ashok Kumar Bansal dated 19.03.2008

- (aa) Confirmation of deposit of title deed for Property located at E-93, Enclave 1, Second floor and Third Floor, Greater Kailash, New Delhi Mrs. Anju Bansal dated 19.03.2008

(bb) Confirmation of deposit of title deed for Property situated at village Lakeshari Pargana Bhagwanpur, Tehsil Roorkee, District Hardwar in the state of Uttarakhand owned by M/s. Hanung Toys and Textiles Limited dated 19.03.2008 for Rs. 369.39 Lakh 2.7 It is stated that in August 2008, Defendant No. 1 borrower Company requested the Applicant Bank No.7 for certain credit facilities and after considering the information provided by the Defendant No. 1 Company, the Applicant Bank No. 7 (CBI) sanctioned the following:-

<thead> <tr> <th>Sl. No.</th> <th>Name of the Bank (Member)</th> <th>Fund Based</th> <th>Non-Fund based</th> <th>Total</th> </tr> </thead> <tbody> <tr> <td>1.</td> <td>Central Bank of India Applicant No. 7</td> <td>Rs. 30.00 Crore</td> <td>Rs. 10.00 Crore</td> <td>Rs. 40.00 Crore</td> </tr> </tbody> </table>

It is stated that other than the hypothecating the fixed and the moveable assets of Defendant No.1 for securing the above mentioned limits, collateral securities in form of Personal Guarantees, Corporate Guarantees and Immovable properties were also furnished. The details of all the securities furnished by the defendants for securing the above mentioned limits are given in Para 5(5.15) of OA.

It is stated in the OA that to avail the said facilities the defendants had submitted and executed various documents including the loaning and security document in favour of the Applicants No. 7(CBI). The documents which were submitted and executed were as follows:- 

- (a) Acknowledged Sanction letter dated 26.08.2008

- (b) Board resolution of M/s. Hanung Toys and Textile Ltd. dated 15.09.2008

- (c) Board resolution of M/s Praneet Softtech Private Ltd. dated 15.09.2008

- (d) Board resolution of M/s C.K.Software Private Ltd. Dated 15.09.2008

- (e) Board resolution of M/s. Hanung Processors Private Ltd. dated 15.09.2008

- (f) Board resolution of M/s Hanung Furnishing Private Ltd. dated 15.09.2008

- (g) DP Note dated 18.09.2008 for Rs.40.0 crore

- (h) Letter of Waiver dated 18.09.2008

- (i) Letter of Interest Variation dated 18.09.2008

- (j) Letter of Continuity dated 18.09.2008

- (k) Letter of Hypothecation Export Bills dated 18.09.2008

- (l) Packing Credit Agreement dated 18.09.2008

- (m) Bills Discounting Agreement dated 18.09.2008

- (n) Omnibus Counter Guarantee for Letter of Credit dated 18.09.2008

- (o) Form of Guarantee for Advances and Credits Generally dated 18.09.2008 by M/s Praneet Softtech Private Ltd.

- (p) Form of Guarantee for Advances and Credits Generally dated 18.09.2008 by M/s Hanung Processors Private Ltd.

- (q) Form of Guarantee for Advances and Credits Generally dated 18.09.2008 by Hanung Furnishing Private Ltd.

- (r) Form of Guarantee for Advances and Credits Generally dated 18.09.2008 by Shri Ashok Kumar Bansal

- (s) Form of Guarantee for Advances and Credits Generally dated 18.09.2008 by Smt. Anju Bansal

- (t) Form of Guarantee for Advances and Credits Generally dated 18.09.2008 by M/s C.K. Software Private Ltd.

- (u) Consent of the Defendant No. 1/Borrower Company for CIBIL

- (v) Negative Lien dated 18.09.2008

2.8 Thereafter in the December 2008, on request Defendants/Borrower and after considering the information and the documents put forth by the defendants, the certain enhanced/renewed limits were sanctioned by Applicant No.1 PNB and the same were as follows:-

<thead> <tr> <th>Sl. No</th> <th>Name of the Bank (Member)</th> <th>Fund + Term Loan</th> <th>Non-Fund Based</th> <th>Total</th> </tr> </thead> <tbody> <tr> <td>1.</td> <td>Punjab National Bank (PNB)<br/>Applicant No. 1</td> <td>Existing 56.40<br/>+<br/>30.00<br/><br/>To 72.40<br/>+<br/>30.00</td> <td>Existing 30.00<br/><br/>To 36.00</td> <td>116<br/><br/><br/>138.40</td> </tr> </tbody> </table>

\* Amounts in Crore

It is pertinent to mention here that in the year 2009, the Defendant No.1/ Borrower Company requested the Applicant Bank No. 8 (KBL) to sanction certain credit limits and after considering the information and the documents put forth by the defendants, the limits were enhanced/renewed by Applicant No.8 (KBL), the details of which are as follows:-

<thead> <tr> <th>Sl. No.</th> <th>Name of the Bank (Member)</th> <th>Fund Based</th> <th>Non-Fund Based</th> <th>Total</th> </tr> </thead> <tbody> <tr> <td>1.</td> <td>Karnataka Bank Ltd. (KBK) Applicant No. 8</td> <td>Existing</td> <td>Existing</td> <td></td> </tr> </tbody> </table>

\*Amounts in Crore

In order to avail above mentioned said facilities the defendants had submitted and executed various documents including the loaning and security document in favour of the Applicant Bank No 8 (KBL). Vide these documents the facilities availed by the defendants were acknowledged with an undertaking to repay the same with the interest charged thereon, to fulfill the terms and conditions as enumerated in the sanction letter dated 30.03.2009 and further securities in favour of the Applicant Bank No. 8 were created to secure the monies lent by them. The documents which were submitted and executed were as follows:-

- (a) Acknowledged copy of the Sanction Letter dated 30.03.2009.

- (b) Board resolution of M/s. Hanung Toys and Textile Ltd. dated 30.03.2009.

- (c) Board resolution of M/s. Hanung Processor Private Ltd. dated 30.03.2009.

- (d) Board resolution of M/s. Pranet Softech Private Ltd. dated 30.03.2009.

- (e) Board resolution of M/s. Sankalpa Overseas Private Ltd. dated 30.03.2009.

- (f) Board resolution of M/s. Hanung Furnishing Private Ltd. dated 30.03.2009.

- (g) Board resolution of M/s. C. K Software Private Ltd. dated 30.03.2009.

- (h) Account Opening Form dated 31.03.2009.

- (i) Take Delivery Letter dated 31.03.2009 along with D.P. Note for Rs. 15.0 Crore dated 31.03.2009.

- (j) Hypothecation Agreement dated 31.03.2009.

- (k) Term Loan Agreement dated 31.03.2009.

- (l) Guarantee Letter executed by M/s. Hanung Processor Private Ltd. dated 31.03.2009.

- (m) Guarantee Letter executed by M/s. Hanung Furnishing Private Ltd. dated 31.03.2009.

- (n) Guarantee Letter executed by M/s. Praneet Softech Private Ltd. dated 31.03.2009.

- (o) Guarantee Letter executed by M/s. Sankalpa Overseas Private Ltd. dated 31.03.2009.

- (p) Guarantee Letter executed by M/s. C. K Software Private Ltd. dated 31.03.2009.

- (q) Guarantee Letter executed by Sh. Ashok Kumar Bansal and Smt. Anju Bansal dated 31.03.2009.

- (r) Consent Letter from Co-Obligants / Guarantors executed by M/s. Hanung Processor Private Ltd. dated 31.03.2009.

- (s) Consent Letter from Co-Obligants / Guarantors executed by M/s. Hanung Furnishing Private Ltd. dated 31.03.2009.

- (t) Consent Letter from Co - Obligants / Guarantors executed by M/s. Praneet Softech Private Ltd. dated 31.03.2009.

- (u) Consent Letter from Co Obligants / Guarantors executed by M/s. Sankalpa Overseas Private Ltd. dated 31.03.2009.

- (v) Consent Letter from Co – Obligants / Guarantors executed by M/s. C. K Software Private Ltd. dated 31.03.2009.

- (w) Consent Letter from Co – Obligants / Guarantors executed by Sh. Ashok Kumar Bansal and Smt. Anju Bansal dated 31.03.2009.

- (x) Declaration executed by Defendant No. 1 Company dated 31.03.2009.

- (y) Consent Letter from the Borrowers dated 31.03.2009.

- (z) Letter of Credit Application and Agreement Form dated 31.03.2009.

- (aa) Letter of Credit Application and Agreement Form dated 31.03.2009.

- (bb) Undertaking/Declaration for Hypothecation of vehicles/ machinery / movables dated 31.03.2009.

It is stated in the OA that the charge created / modified on the assets of the Defendant No. I Company for securing the credit limits sanctioned by the Applicant Bank No. 8 (KBL) was duly registered with the Registrar of Companies.

2.9 It is stated in the OA that in October 2009, the Defendant No.1/ Borrower Company requested the Applicant Bank No.7 for enhancement of credit facilities and after considering the information provided by the Defendant No. 1 Company, the Applicant Bank No. 7 (CBI) sanctioned the following:-

<thead> <tr> <th>Sl. No</th> <th>Name of the Bank (Member)</th> <th>Fund + Term Loan</th> <th>Non-Fund</th> <th>Total</th> </tr> </thead> <tbody> <tr> <td>1.</td> <td>Central Bank of India<br/>Applicant No. 7</td> <td>Existing<br/>Rs. 30.00<br/>Crore<br/><br/>Revised<br/>Rs. 48.00<br/>Crore<br/>+<br/>Term Loan<br/>Rs. 15.00<br/>Crore<br/><br/>Total =<br/>Rs. 63.00<br/>Crore</td> <td>Existing<br/>Rs.10.00<br/>Crore<br/><br/>Revised<br/>Rs.15.00<br/>Crore</td> <td>Rs. 78.00<br/>Crore</td> </tr> </tbody> </table>

It is stated in the OA that other than the hypothecating the fixed and the moveable assets of Defendant No.1 for securing the above mentioned limits, collateral securities in form of Personal Guarantees, Corporate Guarantees and Immovable properties were also furnished. The details of all the securities furnished by the defendants for securing the above mentioned limits have been given in Para 5(5.22) of the OA.

It is further stated in the OA that to avail the said facilities the defendants had submitted and executed various documents including the loaning and security document in favour of the Applicant No.7 (CBI). Vide these documents the facilities availed by the defendants were acknowledged with an undertaking to repay the same with the interest charged thereon, to fulfill the terms and conditions as enumerated in the sanction letters of member Banks and further securities in favour of the said applicant were created 

to secure the monies lent by it. The documents which were submitted and executed were as follows:- **For Working Capital Limits -Rs. 63.0 Crore**

- a. Board resolution of M/s. Hanung Toys and Textile Ltd. dated 05.10.2009.

- b. Board resolution of M/s. Praneet Softtech Private Ltd, dated 05.10.2009.

- c. Board resolution of M/s. Sankalpa Overseas Private Ltd. dated 05.10.2009.

- d. Board resolution of M/s. C.K.Software Private Ltd. dated 05.10.2009.

- e. Board resolution of M/s. Hanung Processors Private Ltd. dated 05.10.2009.

- f. Board resolution of M/s. Hanung Furnishing Private Ltd. dated 05.10.2009.

- g. DP Note dated 05.10.2009 for Rs. 48.0 crore.

- h. Letter of Waiver dated 05.10.2009.

- i. Letter of Interest Variation dated 05.10.2009.

- j. Letter of Hypothecation - Export Bills dated 05.10.2009.

- k. Packing Credit Agreement dated 05.10.2009 B LJK.

- l. Omnibus Counter Guarantee for Letter of Credit dated 05.10.2009.

- m. Form of Guarantee for Advances and Credits Generally dated 05.10.2009 by M/s Praneet Softtech Private Ltd.

- n. Form of Guarantee for Advances and Credits Generally dated 05.10.2009 by M/s Hanung Processors Private Ltd.

- o. Form of Guarantee for Advances and Credits Generally dated 05.10.2009 by M/s Hanung Furnishing Private Ltd.

- p. Form of Guarantee for Advances and Credits Generally dated 05.10.2009 by M/s Sankalpa Overseas Private Ltd.

- q. Form of Guarantee for Advances and Credits Generally dated 05.10.2009 by Shri Ashok Kumar Bansal.

- r. Form of Guarantee for Advances and Credits Generally dated 05.10.2009 by Smt. Anju Bansal.

- s. Form of Guarantee for Advances and Credits Generally dated 05.10.2009 by Ashok Kumar Bansal HUF.

- t. Form of Guarantee for Advances and Credits Generally dated 05.10.2009 by M/s C.K. Software Private Ltd.

- u. Negative Lien dated 05.10.2009.

- v. Undertakings from company dated 05.10.2009.

- w. General Counter Guarantee & Indemnity covering several guarantees within the sanctioned Guarantee Limit dated 05.10.2009.

**For Term Loan Rs.15.0 Crore**

- (a) Board resolution of M/s. Hanung Toys and Textile Ltd. dated 01.03.2010.

- (b) Board resolution of M/s. Praneet Softech Private Ltd, dated 01.03.2010.

- (c) Board resolution of M/s. Sankalpa Overseas Private Ltd. dated 01.03.2010.

- (d) Board resolution of M/s. C.K. Software Private Ltd. dated 01.03.2010.

- (e) Board resolution of M/s. Hanung Processors Private Ltd. dated 01.03.2010.

- (f) Board resolution of M/s. Hanung Furnishing Private Ltd. dated 01.03.2010.

- (g) Term Loan Agreement dated 11.03.2010 for Rs.15.0 crore.

- (h) Letter of Interest Variation dated 11.03.2010.

- (i) Letter of Hypothecation 11.03.2010.

- (j) Omnibus Counter Guarantee for Letter of Credit dated 11.03.2010.

- (k) Application & agreement for LC dated 11.03.2010.

- (l) Form of Guarantee for Advances and Credits Generally dated 11.03.2010 by M/s Praneet Sofitech Private Ltd.

- (m) Form of Guarantee for Advances and Credits Generally dated 11.03.2010 by M/s Hanung Processors Private Ltd.

- (n) Form of Guarantee for Advances and Credits Generally dated 11.03.2010 by M/s Hanung Furnishing Private Ltd.

- (o) Form of Guarantee for Advances and Credits Generally dated 11.03.2010 by M/s Sankalpa Overseas Private Ltd.

- (p) Form of Guarantee for Advances and Credits Generally dated 11.03.2010 by Shri Ashok Kumar Bansal.

- (q) Form of Guarantee for Advances and Credits Generally dated 11.03.2010 by Smt. Anju Bansal.

- (r) Form of Guarantee for Advances and Credits Generally dated 11.03.2010 by Ashok Kumar Bansal (HUF).

- (s) Form of Guarantee for Advances and Credits Generally dated 11.03.2010 by M/s C. K. Software Private Ltd.

- (1) Negative Lien dated 11.03.2010.

- (u) Acknowledged copy of sanction letter dated 05.10.2009.

2.10 It is further stated in the OA that in the year December 2009, on request Defendants/Borrower and after considering the information and the documents put forth by the defendants, the certain enhanced/renewed limits were sanctioned by Applicant No.1 PNB and the same were as follows:-

<thead> <tr> <th>SL No</th> <th>Name of the Bank (Member)</th> <th>Fund Based + Term Loan</th> <th>Non-Fund based</th> <th>Total</th> </tr> </thead> <tbody> <tr> <td>1.</td> <td>Punjab National Bank (PNB) Applicant No. 1</td> <td>Existing 72.40<br/>+<br/>30.00</td> <td>Existing 36.00</td> <td>138.40</td> </tr> <tr> <td></td> <td></td> <td>To 94.80<br/>+<br/>30.00</td> <td>To 42.00</td> <td>166.80</td> </tr> </tbody> </table>

\*Amount in Crore

2.11 It is also stated in the OA that in the year 2009 the Defendant No. 1/ Borrower Company had requested the Applicant Bank No. 6 (BOI) to sanction certain credit limits and after considering the and after considering the information and the documents put forth by the defendants the limits were enhanced/renewed by Applicant No.6 (BOI) and the same were as follows:-

<thead> <tr> <th>SL No.</th> <th>Name of the Bank (Member)</th> <th>Fund Based</th> <th>Non-Fund Based</th> <th>Total</th> </tr> </thead> <tbody> <tr> <td>1.</td> <td>Bank of India (BOB)<br/>Applicant No. 06</td> <td>54</td> <td>28</td> <td>82.00</td> </tr> </tbody> </table>

\*Amounts in Crore

It is stated that other than the hypothecating the fixed and the moveable assets of Defendant No.1 for securing the above mentioned limits, collateral securities in form of Personal Guarantees, Corporate Guarantees and Immovable properties were also furnished. The details of all the securities furnished by the defendants for securing the above mentioned limits have been given in Para 5(5.26) of the OA.

It is further stated that to avail above mentioned said facilities the defendants had submitted and executed various documents including the loaning and security document in favour of the Applicant Bank No 6 (BOI). Vide these documents the facilities availed by the defendants were acknowledged with an undertaking to repay the same with the interest charged thereon, to fulfill the terms and conditions as enumerated in the Sanction Letter dated 17.11.2009 and further securities in favour of the Applicant Bank No.1 was created to secure the monies lent by them. The documents which were submitted and executed were as follows:-

- (a) Board resolution of M/s, Hanung Toys and Textile Ltd. dated 05.12.2009;

- (b) Board resolution of M/s. Hanung Processor Private Ltd. dated 05.12.2009;

- (c) Board resolution of M/s. Praneet Softech Private Ltd. dated 05.12.2009;

- (d) Board resolution of M/s. Sankalpa Overseas Private Ltd. dated 05.12.2009;

- (e) Board resolution of M/s. Hanung Furnishing Private Ltd. dated 05.12.2009;

- (f) Board resolution of M/s CK Software Private Ltd. dated 05.12.2009;

- (g) DP Note for Rs. 82 Crore dated 07.12.2009;

- (h) Credit facility Agreement dated 07.12.2009;

- (i) Accepted copy of Sanction dated 17.11.2009;

- (j) Letter of Undertaking dated 07.12.2009;

- (k) Working Capital Agreement (L-516) dated 07.12.2009;

- (l) Trust Receipt dated 07.12.2009;

- (m) Counter Guarantee dated 07.12.2009;

- (n) Omnibus Indemnity dated 07.12.2009;

- (o) Working Capital Agreement dated 07.12.2009;

- (p) Agreement for Hypothecation dated 07.12.2009;

- (q) Agreement for Guarantee dated 07.12.2009.

2.11 It is stated in the OA that the gist of the facilities which were enhanced/renewed by the members of the Consortium in 2010 (new member had joined the Consortium), on request of the Defendants are as follows:-

<thead> <tr> <th>SL No.</th> <th>Name of the Bank (Member)</th> <th>Fund based +<br/>Term Loan</th> <th>Non-Fund based</th> <th>Total</th> </tr> </thead> <tbody> <tr> <td>1.</td> <td>Punjab National Bank (PNB) Applicant No. 1</td> <td>Existing 94.80<br/>+</td> <td>Existing 42</td> <td></td> </tr> </tbody> </table>

<table border="1"> <tr> <td></td> <td></td> <td>30.00<br/>To<br/>126.00<br/>+<br/>30.00</td> <td>To<br/>90</td> <td></td> </tr> <tr> <td>2.</td> <td>State Bank of India (SBI)<br/>*Loan assigned to EDELWEISS Applicant No. 2</td> <td>Existing<br/>20.00<br/>+<br/>30.00<br/><br/>To<br/>35.00<br/>+<br/>30.00</td> <td>Existing<br/>00.00<br/><br/>To<br/>15</td> <td></td> </tr> <tr> <td>3.</td> <td>Syndicate Bank (SB) Applicant No. 3</td> <td>Existing<br/>35.00<br/>+<br/>10.00<br/><br/>To<br/>35.00<br/>+<br/>10.00</td> <td>Existing<br/>10.00<br/><br/>To<br/>10.00</td> <td></td> </tr> <tr> <td>4.</td> <td>Oriental Bank Of Commerce (OBC) Applicant No. 4</td> <td>Existing<br/>51.00<br/>+<br/>20.00<br/><br/>To<br/>55.00<br/>+<br/>20.00</td> <td>Existing<br/>17.00<br/><br/>To<br/>20</td> <td></td> </tr> <tr> <td>5.</td> <td>Bank of India (BOI) Applicant No. 6</td> <td>Existing<br/>45.00<br/><br/>To<br/>45.00</td> <td>Existing<br/>31.00<br/><br/>To<br/>30.00</td> <td></td> </tr> <tr> <td>6.</td> <td>Central Bank of India (CBI) Applicant No. 7</td> <td>Existing<br/>63.00<br/><br/>To<br/>63.00</td> <td>Existing<br/>15.00<br/><br/>To<br/>15.00</td> <td></td> </tr> <tr> <td>7.</td> <td>Allahabad Bank of India (ALB)<br/>*Loan assigned to EDELWEISS Applicant No. 2</td> <td>Existing<br/>15.00<br/><br/>To<br/>70.00</td> <td>Existing<br/>7.00<br/><br/>To<br/>35.00</td> <td></td> </tr> <tr> <td>8.</td> <td>Karnataka Bank</td> <td>Existing 15.00</td> <td>Existing</td> <td></td> </tr> </table>

<tr> <td></td> <td>(KTB) Applicant<br/>No. 8</td> <td>+<br/>25.00<br/><br/>To<br/>25.00<br/>+<br/>25.00</td> <td>7.00<br/><br/><br/>To<br/>10.00</td> <td></td> </tr> <tr> <td>9.</td> <td>Union Bank of<br/>India (UBI)</td> <td>Existing<br/>35.00<br/><br/>To<br/>35.00</td> <td>Existing<br/>15.00<br/><br/>To<br/>15.00</td> <td></td> </tr> <tr> <td></td> <td>Grand Total</td> <td></td> <td></td> <td></td> </tr> </table>

\*Amounts In Crore.

It is stated that the Defendant No.1/Borrower Company had executed an Agreement of Hypothecation for Plant, Machinery, Stocks and Book Debts dated 30.06.2010, in favour of Applicant Bank No. 6 (BOI).

2.11 It is also pertinent to mention here that in December 2010 the Defendant No. 1/ Borrower Company requested the Applicant Bank No. 8 (KBL) to sanction certain credit limits and after considering the information and the documents put forth by the defendants, the limits were enhanced/renewed by Applicant No.8 (KBL), the details of which are as follows:

<thead> <tr> <th>SL<br/>No.</th> <th>Name of the Bank<br/>(Member)</th> <th>Facility</th> </tr> </thead> <tbody> <tr> <td>1.</td> <td>Karnataka Bank<br/>Ltd. (KBL)<br/>Applicant No. 08</td> <td>PC/PSCF:25.00<br/>*Out of 25 Cr. Only 19 was<br/>given<br/><br/>LC (DA/DP): 10.00<br/>FCL: 50 Lac.</td> </tr> </tbody> </table>

\*Amounts in Crore

It is stated that other than the hypothecating the fixed and the moveable assets of Defendant No.1 for securing the above mentioned limits, collateral securities in form of Personal Guarantees, Corporate Guarantees and Immovable properties were also furnished. The details of all the securities furnished by the defendants for securing the above mentioned limits have been given in Para 5(5.31) of OA.

It is further stated that to avail above mentioned said facilities the defendants had submitted and executed various documents including the loaning and security document in favour of the Applicant Bank No 8 (KBL). Vide these documents the facilities availed by the defendants were acknowledged with an undertaking to repay the same with the interest charged thereon, to fulfill the terms and conditions as enumerated in the sanction letter dated 20.12.2010 and further securities in the Applicant Bank No. 8 were created to secure the monies lent by them. The documents which were submitted and executed were as follows:-

- (a) Acknowledged copy of the Sanction Letter dated 20.12.2010;

- (b) Board resolution of M/s. Hanung Toys and Textile Ltd. dated 11.01.2011;

- (c) Board resolution of M/s. Hanung Processor Private Ltd. dated 11.01.2011;

- (d) Board resolution of M/s. Praneet Softech Private Ltd. dated 11.01.2011;

- (e) Board resolution of M/s. Sankalpa Overseas Private Ltd. dated 11.01.2011;

- (f) Board resolution of M/s. Hanung Furnishing Private Ltd. dated 11.01.2011;

- (g) Board resolution of M/s. C. K Software Private Ltd. dated 11.01.2011;

- (h) Board resolution of M/s. Abhinav International Pvt. Ltd. dated 11.01.2011;

- (i) Take Delivery Letter dated 28.01.2011 along D.P. Note for Rs. 19 Crore dated 28.01.2011;

- (j) Letter of Hypothecation dated 28.01.2011;

- (k) Export Credit Agreement dated 28.01.2011;

- (l) Guarantee Letter executed by M/s. Hanung Processor Private Ltd. dated 28.01.2011;

- (m) Guarantee Letter executed by M/s. Hanung Furnishing Private Ltd. dated 28.01.2011;

- (n) Guarantee Letter executed by M/s. Praneet Softech Private Ltd. dated 28.01.2011;

- (o) Guarantee Letter executed by M/s. Sankalpa Overseas Private Ltd. dated 28.01.2011;

- (p) Guarantee Letter executed by M/s. C. K Software Private Ltd. dated 28.01.2011;

- (q) Guarantee Letter executed by M/s. Abhinav International Private Ltd. dated 28.01.2011;

- (r) Guarantee Letter executed by Sh. Ashok Kumar Bansal and Smt. Anju Bansal dated 28.01.2011;

- (s) Guarantee Letter executed by Sh. Ashok Kumar Bansal (HUF) dated 28.01.2011;

- (t) Guarantee Letters for Bills & Checks dated 28.01.2011;

- (u) Consent Letter from Co-Obligants / Guarantors executed by M/s. Hanung Processor Private Ltd. dated 28.01.2011;

- (v) Consent Letter from Co-Obligants / Guarantors executed by M/s. Hanung Furnishing Private Ltd. dated 28.01.2011;

- (w) Consent Letter from Co - Obligants / Guarantors executed by M/s. Praneet Softech Private Ltd. dated 28.01.2011;

- (x) Consent Letter from Co - Obligants / Guarantors executed by M/s. Sankalpa Overseas Private Ltd. dated 28.01.2011;

- (y) Consent Letter from Co Obligants / Guarantors executed by M/s. C. K Software Private Ltd. dated 28.01.2011;

- (z) Consent Letter from Co - Obligants / Guarantors executed by M/s. Abhinav International Private Ltd. 28.01.2011;

- (aa) Consent Letter from Co Obligants / Guarantors executed by Sh. Ashok Kumar Bansal and Smt. Anju Bansal dated 28.01.2011;

- (bb) Consent Letter from Co - Obligants / Guarantors executed by Ashok Kumar Bansal (HUF) dated 28.01.2011;

- (cc) Consent Letter from Co Obligants / Guarantors executed by Hanung Toys and Textile dated 28.01.2011;

- (dd) Letter of repayment;

- (ee) Hypothecation Agreement dated 28.01.2011;

- (ff) Take Delivery Letter dated 28.01.2011 along D.P. Note for Rs. 19.0 Crore dated 28.01.2011;

- (gg) Acknowledgement of Debt dated 15.09.2011.

2.12 It is stated in that OA that in Dec. 2010, Defendant No.1/borrower Company made a request to Applicant Bank No. 7 (CBI) and due consideration the fact and figures as put forth by the Defendant No.1/ borrower Company, the Applicant No. 7 (CBI) allowed/sanctioned the Defendant No.1/borrower Company, a syndication and underwriting of a Term Loan of Rs.557.24 crore with a hold position of Rs.200.0 crore for backward integration project for setting up (a) a spinning unit and (b) an expansion project relating to is weaving, processing and made-ups unit at Roorkee in Haridwar District.

<thead> <tr> <th>SL No.</th> <th>Name of the Bank (Member)</th> <th>Credit Facility</th> </tr> </thead> <tbody> <tr> <td>1.</td> <td>Central Bank of India (CBI)<br/>Applicant No. 7</td> <td>Rs. 557.24</td> </tr> </tbody> </table>

\*Amounts in Crore

The aforesaid facility sanctioned by Applicant Bank No. 7 (CBI) were secured by Defendant by giving various securities as detailed in Para 5(5.34) of the OA.

Further, to avail the said facilities the defendants had submitted and executed various documents including the loaning and security document in favour of the Applicant No.7 (CBI). Vide these documents the facilities availed by the defendants were acknowledged with an undertaking to repay the same with the interest charged thereon, to fulfill the terms and conditions as enumerated in the sanction letters of member Banks and further securities in favour of the said applicant were created to secure the monies lent by it. The documents which were submitted and executed were as follows:-

- (a) Board resolution of M/s. Hanung Toys and Textile Ltd. dated 08.02.2011;

- (b) Board resolution of M/s. Pranet Softech Private Ltd. dated 17.02.2011;

- (c) Board resolution of M/s. Sankalpa Overseas Private Ltd. dated 18.02.2011;

- (d) Board resolution of M/s. C.K. Software Private Ltd, dated 15.02.2011;

- (e) Board resolution of M/s. Hanung Processors Private Ltd. dated 15.02.2011;

- (f) Board resolution of M/s. Hanung Furnishing Private Ltd. dated 16.02.2011;

- (g) Loan Agreement dated 28.03.2011;

- (h) Security Trustee Agreement dated 28.03.2011;

- (i) Deed of Hypothecation dated 28.03.2011;

- (j) Escrow Agreement dated 28.03.2011;

- (k) Cost Overrun Agreement/Undertaking dated 28.03.2011;

- (l) Non-Disposal undertaking dated 28.03.2011;

- (m) Agreement of Guarantee by Mr. Ashok Kumar Bansal dated 28.03.2011;

- (n) Agreement of Guarantee by Mrs. Anju Bansal dated 28.03.2011;

- (o) Agreement of Guarantee by Ashok Kumar Bansal (HUF) dated 28.03.2011;

- (p) Agreement of Guarantee by M/s. Hanung Processor Private Ltd. dated 28.03.2011;

- (q) Agreement of Guarantee by M/s. Hanung Furnishing Private Ltd. dated 28.03.2011;

- (r) Agreement of Guarantee by M/s. Praneet Softech Private Ltd. dated 28.03.2011;

- (s) Agreement of Guarantee by M/s. Sankalpa Overseas Private Ltd. dated 28.03.2011;

- (t) Agreement of Guarantee by M/s. C. K Software Private Ltd dated 28.03.2011.

2.13 It is also stated in OA that in March 2011 the Defendant No.1/ Borrower Company requested the Applicant Bank No. 10 (UCO) to sanction certain credit limits and after considering the information and the documents put forth by the defendants, the limits were enhanced/renewed by Applicant No.10 (UCO), the details of which are as follows:

<thead> <tr> <th>SL No</th> <th>Name of the Bank (Member)</th> <th>Facility</th> </tr> </thead> <tbody> <tr> <td>1.</td> <td>United Commercial Bank (UCO) Applicant No. 10</td> <td>Term Loan of Rs. 60</td> </tr> </tbody> </table>

\*Amounts in Crore

It is stated in the OA other than the hypothecating the fixed and the moveable assets of Defendant No.1 for securing the above mentioned limits, collateral securities in form of Personal Guarantees, Corporate Guarantees and Immovable properties were also furnished. The details of all the securities furnished by the defendants for securing the above mentioned limits have been given in Para 5(5.37) of OA.

Further, to avail above mentioned said facilities the defendants had submitted and executed various documents including the loaning and security document in favour of the Applicant Bank No 10 (UCO), Vide these documents the facilities availed by the defendants were acknowledged with an undertaking to repay the same with the interest charged thereon, to fulfill the terms and conditions as enumerated in the sanction letter dated 20.12.2010 and further securities in favour of the Applicant Bank No. 10 were created to secure the monies lent by them. The documents which were submitted and executed were as follows:- 

- (a) Acknowledged copy of the Sanction Letter dated 29.03.2011;

- (b) D.P. Note for Rs. 60.0 Crore dated 30.03.2011;

- (c) Acknowledgement for Rate of Interest dated 30.03.2011;

- (d) Board Resolution of Hanung Toys and Textiles dated 29.03.2011;

- (e) Term loan Agreement Interest dated 30.03.2011;

- (f) Agreement for Subservient Charge on Fixed and Current Assets Interest dated 30.03.2011;

- (g) Guarantee Letter executed by Sh. Ashok Kumar Bansal Interest dated 30.03.2011;

- (h) Guarantee Letter executed by Anju Bansal Interest dated 30.03.2011.

2.14 It is stated in the OA that once again in the year 2011, the Defendants/Borrower for the purpose of augmenting its business requested the member of the consortium to enhance the limits of Defendant No.1/Borrower Company and after considering the information and the documents put forth by the defendants, the certain enhanced/renewed limits sanctioned were sanctioned vide the Sanction Letter of Banks of the Consortium. These sanction letter enumerated various terms and conditions on which the loans were to be disbursed to the Defendants Borrowers and since it was a facility under the consortium, the member Banks executed an Inter-se Agreement dated 18.06.2011.

The gist of the facilities which were enchased/renewed by the member of the Consortium in 2011, on request of the Defendants are as follows:-

<thead> <tr> <th>SL No.</th> <th>Name of the Bank (Member)</th> <th>Fund based + Term Loan</th> <th>Non-Fund based</th> <th>Total</th> </tr> </thead> <tbody> <tr> <td>1.</td> <td>Punjab National Bank (PNB) Applicant No. 1</td> <td>126.00<br/>+<br/>30.00</td> <td>90</td> <td></td> </tr> <tr> <td>2.</td> <td>State Bank of India (SBI) *Loan assigned to EDELWEISS Applicant No. 2</td> <td>45.00<br/>(additional 5.00 Adhoc)<br/>+<br/>30.00</td> <td>12</td> <td></td> </tr> <tr> <td>3.</td> <td>Syndicate Bank (SB) Applicant No. 3</td> <td>42.00<br/>+<br/>10.00</td> <td>10</td> <td></td> </tr> <tr> <td>4.</td> <td>Oriental Bank Of Commerce (OBC) Applicant No. 4</td> <td>61.20<br/>+<br/>20.00</td> <td>20.40</td> <td></td> </tr> <tr> <td>5.</td> <td>Bank of India (BOI) Applicant No. 6</td> <td>54</td> <td>28</td> <td></td> </tr> <tr> <td>6.</td> <td>Central Bank of India (CBI) Applicant No. 7</td> <td>*48.00<br/>+<br/>15.00</td> <td>15</td> <td></td> </tr> <tr> <td>7.</td> <td>Allahabad Bank of India (ALB) *Loan assigned to EDELWEISS Applicant No. 2</td> <td>84.00<br/>+<br/>30.00</td> <td>60</td> <td></td> </tr> <tr> <td>8.</td> <td>Karnataka Bank (KTB) Applicant No. 8</td> <td>19.00<br/>+<br/>25.00</td> <td>7</td> <td></td> </tr> <tr> <td>9.</td> <td>Union Bank of India (UBI)</td> <td>42</td> <td>18</td> <td></td> </tr> <tr> <td colspan="2"><b>Grand Total</b></td> <td><b>656.20</b></td> <td><b>260.40</b></td> <td><b>916.60</b></td> </tr> </tbody> </table>

*\*In addition to above, Central Bank of India sanctioned Term Loan facility of Rs.200.0 crore, outside the consortium more particularly described in preceding paras*

It is stated in the OA that other than the hypothecating the fixed and the moveable assets of Defendant No.1 for securing the above mentioned limits, some additional securities in form of Personal Guarantees, Corporate Guarantees and Immovable properties were also furnished. The details of all the securities furnished by the defendants for securing the above mentioned limits have been given in Para 5(5.41) of the OA.

Moreover, to avail the said facilities the defendants had submitted and executed various documents including the loaning and security document in favour of the Applicants as mentioned above being member of Consortium. Vide these documents the facilities availed by the defendants were acknowledged with an undertaking to repay the same with the interest charged thereon, to fulfill the terms and conditions as enumerated in the sanction letters of member Banks and further securities in favour of the said above mentioned members, were created to secure the monies lent by them. The documents which were submitted and executed were as follows:-

- (a) Working capital Consortium Agreement dated 18.06.2011;

- (b) Joint Deed of Hypothecation dated 18.06.2011 for Rs. 916.60 Crore;

- (c) Letter of nomination nominating and appointing Applicant No. 1, PNB as Lead Bank;

- (d) Letter for creation of charge dated 18.06.2011;

- (e) Agreement of Guarantee for Rs. 916.60 Crore by Mr. Ashok Kumar Bansal dated 18.06.2011;

- (f) Agreement of Guarantee for Rs. 916.60 Crore by Ashok Kumar Bansal (HUF) dated 18.06.2011;

- (g) Agreement of Guarantee for Rs. 916.60 Crore by M/s. Hanung Processor Private Ltd. dated 18.06.2011;

- (h) Agreement of Guarantee for Rs. 916.60 Crore by M/s. Hanung Furnishing Private Ltd. dated 18.06.2011;

- (i) Agreement of Guarantee for Rs. 916.60 Crore by M/s. Praneet Softech Private Ltd. dated 18.06.2011;

- (j) Agreement of Guarantee for Rs. 916.60 Crore by M/s. Sankalpa Overseas Private Ltd. dated 18.06.2011;

- (k) Agreement of Guarantee for Rs. 916.60 Crore by M/s. C. K Software Private Ltd. dated 18.06.2011;

- (l) Confirmation of deposit of title deed for Property located at plot no. 108-109,110 and 125 NSEZ, Noida, Uttar Pradesh owned by M/s. Hanung Toys and Textiles Limited dated 20.06.2011;

- (m) Confirmation of deposit of title deed for Property located at A-21, Hosiery complex, Phase II, Noida, owned M/s. Praneet Softech Private Limited dated 20.06.2011;

- (n) Confirmation of deposit of title deed for Property Located Block B-1, Sector 59, Phase III, NOIDA, District Gautam Budh Nagar, UP, owned by M/s. C. K. Software Private Limited dated 20.06.2011;

- (o) Confirmation of deposit of title deed for Property located at plot No-115, NSEZ, Noida, owned M/s. Hanung Furnishings Private Limited dated 20.06.2011;

- (p) Confirmation of deposit of title deed for Property located at B-7. Hosiery Complex, Phase-II, NOIDA, District Gautam Budh Nagar, UP owned M/s. Hanung Processors Private Limited dated 20.06.2011;

- (q) Confirmation of deposit of title deed for Property located at G-20, Sector-VI, NOIDA, UP owned M/s. Sankalp Overseas Private Limited dated 20.06.2011;

- (r) Confirmation of deposit of title deed for Property situated at village Lakeshari Pargana Bhagwanpur, Tehsil Roorkee, District Hardwar in the state of Uttarakhand owned by Ms. Hanung Toys and Textiles Limited dated 20.06.2011.

2.15 Thereafter in somewhere in August 2011, on request Defendants/Borrower and after considering the information and the documents put forth by the defendants the limits were enhanced/renewed by Applicant No.1 PNB and the same were as follows:

<thead> <tr> <th>SL No.</th> <th>Name of the Bank (Member)</th> <th>Fund based + Term Loan</th> <th>Non-Fund based</th> <th>Total</th> </tr> </thead> <tbody> <tr> <td>1.</td> <td>Punjab National Bank (PNB)</td> <td>Existing 126.00<br/>+ 30.00<br/><br/>To 175.20+30.00</td> <td>Existing 90.00<br/><br/>To 120.00</td> <td></td> </tr> </tbody> </table>

It is stated in the OA that other than the hypothecating the fixed and the moveable assets of Defendant No.1 for securing the above mentioned limits, some additional securities in form of Personal Guarantees, Corporate Guarantees and Immovable properties were also furnished.

The details of all the securities furnished by the defendants for securing the above mentioned limits have been given in Para 5(5.44) of the OA.

Further, to avail above mentioned facilities the defendants had submitted and executed various documents including the loaning and security document in favour of the Applicant Bank No 1. Vide these documents the facilities availed by the defendants were acknowledged with an undertaking to repay the same with the interest charged thereon, to fulfill the terms and conditions as enumerated in the sanction letter dated 25.08.2011 and further securities in favour of the Applicant Bank No.1 was created to secure the monies lent by them. The documents which were submitted and executed were as follows:-

- (a) Letter dated 30.08.2011 by the Defendant No.1/Borrower accepting the terms and condition of sanction letter dated 25.08.2011;

- (b) Undertaking by dated 30.08.2011 by the Defendant No.1/Borrower;

- (c) Board resolution of M/s. Hanung Toys and Textile Ltd. dated 27.08.2011;

- (d) Board resolution of M/s. Hanung Processor Private Ltd, dated 27.08.2011;

- (e) Board resolution of M/s. Praneet Softech Private Ltd. dated 27.08.2011;

- (f) Board resolution of M/s. Sankalpa Overseas Private Ltd. dated 27.08.2011;

- (g) Board resolution of M/s. Hanung Furnishing Private Ltd. dated 27.08.2011;

- (h) Board resolution of M/s. C. K Software Private Ltd. dated 27.08.2011;

- (i) Board resolution of M/s. Abhinav International Private Ltd. dated 27.08.2011;

- (j) Accepted copy of sanction letter 25.08.2011;

- (k) Agreement for Hypothecation of Current Assets dated 30.08.2011 for Rs. 312.25 Crore;

- (l) Agreement for Hypothecation of Moveable Assets forming part of fixed/block assets dated 30.08.2011 for Rs. 312.25 Crore;

- (m) Agreement for Hypothecation of Good and Book Debts for securing Cash Credit facility dated 30.08.2011 for Rs. 60.00 Crore;

- (n) Supplementary Agreement dated 30.08.2011;

- (o) Authority Letter for direct collection of bills/cheques dated 30.08.2011;

- (p) Deed of Hypothecation to secure LC on DA/DP basis dated 30.08.2011;

- (q) General Counter Indemnity dated 30.08.2011;

- (r) Packing Credit Agreement (Hypothecation) 30.08.2011;

- (s) General Indemnity for Rs. 72.00 Crore dated 30.08.2011;

- (t) Supplementary Agreement dated 30.08.2011 for Rs. 312.25 Crore;

- (u) Agreement of Guarantee for Rs. Rs. 312.25 Crore by Mr. Ashok Kumar Bansal dated 30.08.2011;

- (v) Agreement of Guarantee for Rs. 312.25 Crore by Mrs. Anju Bansal dated 30.08.2011;

- (w) Agreement of Guarantee for Rs. 312.25 Crore by Ashok Kumar Bansal (HUF) dated 30.08.2011;

- (x) Agreement of Guarantee for Rs. 312.25 Crore by M/s. Hanung Processor Private Ltd. dated 30.08.2011;

- (y) Agreement of Guarantee for Rs 312.25 Crore by M/s. Hanung Furnishing Private Ltd. dated 30.08.2011;

- (z) Agreement of Guarantee for Rs. 312.25 Crore by M/s. Praneet Softech Private Ltd, dated 30.08.2011;

- (aa) Agreement of Guarantee for Rs. 312.25 Crore by M/s. Sankalpa Overseas Private Ltd. dated 30.08.2011;

- (bb) Agreement of Guarantee for Rs. 312.25 Crore by M/s. C. K Software Private Ltd. dated 30.08.2011;

- (cc) Agreement of Guarantee for Rs. 312.25 Crore by M/s Abhinav International Private Ltd. dated 30.08.2011;

- (dd) Confirmation of deposit of title deed for Property located at plot no. 108-109,110 and 125 NSEZ, Noida, Uttar Pradesh owned by M/s. Hanung Toys and Textiles Limited dated 02.09.2011;

- (ee) Confirmation of deposit of title deed for Property located at A-21. Hosiery complex, Phase II. Noida, owned M/s. Prancet Softech Private Limited dated 02.09.2011;

- (ff) Confirmation of deposit of title deed for Property Located Block B-1, Sector 59, Phase III, NOIDA, District Gautam Budh Nagar, UP, owned by M/s. C. K. Software Private Limited dated 02.09.2011;

- (gg) Confirmation of deposit of title deed for Property situated at village Lakeshari Pargana Bhagwanpur, Tehsil Roorkee, District Hardwar in the state of Uttarakhhand owned by M/s. Hanung Toys and Textiles Limited dated 02.09.2011; (hh) Confirmation of deposit of title deed for Property located at plot No-115, NSEZ, Noida, owned M/s. Hanung Furnishings Private Limited dated 02.09.2011;

(ii) Confirmation of deposit of title deed for Property located at B-7. Hosiery Complex, Phase-II, NOIDA, District Gautam Budh Nagar, UP owned M/s. Hanung Processors Private Limited dated 02.09.2011; (jj) Confirmation of deposit of title deed for Property located at G-20, Sector-VI, NOIDA, UP owned M/s. Sankalp Overseas Private Limited dated 02.09.2011; (kk) Confirmation of deposit of title deed for Property located at E-93, Enclave 1, Second floor and Third Floor, Greater Kailash. New Delhi Mr. Ashok Kumar Bansal dated 02.09.2011;

(ll) Confirmation of deposit of title deed for Property located at E-93. Enclave 1, Second floor and Third Floor, Greater Kailash. New Delhi Mrs. Anju Bansal dated 02.09.2011; (mm) Confirmation of deposit of title deed for Property situated at village Lakeshari Pargana Bhagwanpur, Tehsil Roorkee, District Hardwar in the state of Uttarakhhand owned by M/s. Hanung Toys and Textiles Limited dated 02.09.2011.

2.16 It is stated in the OA that the exposure of the members of the Consortium with Defendants in the August 2011 were as follows:-

<thead> <tr> <th>SL No.</th> <th>Name of the Bank (Member)</th> <th>Fund based + Term Loan</th> <th>Non-Fund based</th> <th>Total</th> </tr> </thead> <tbody> <tr> <td>1.</td> <td>Punjab National Bank (PNB) Applicant No. 1</td> <td>Existing 105 + 30.00<br/><br/>To 146.00 + 30.00</td> <td>Existing 75<br/><br/>To 100</td> <td></td> </tr> <tr> <td>2.</td> <td>State Bank of India (SBI) *Loan assigned to EDELWEISS Applicant No. 2</td> <td>Existing 45.00 + 30.00 70*<br/><br/>To 51.00 + 30.00</td> <td>Existing 12.00<br/><br/>To 20</td> <td></td> </tr> <tr> <td>3.</td> <td>Syndicate Bank (SB) Applicant No. 3</td> <td>Existing 35.00 + 10.00<br/><br/>To 45.00 + 10.00</td> <td>Existing 10.00<br/><br/>To 15.00</td> <td></td> </tr> <tr> <td>4.</td> <td>Oriental Bank Of Commerce (OBC) Applicant No. 4</td> <td>Existing 51.00 + 20.00<br/><br/>To 55.00 + 20.00</td> <td>Existing 17.00<br/><br/>To 20</td> <td></td> </tr> <tr> <td>5.</td> <td>Bank of India (BOI) Applicant No. 6</td> <td>Existing 45.00<br/><br/>To</td> <td>Existing 24.00<br/><br/>To</td> <td></td> </tr> </tbody> </table>

<tr> <td></td> <td></td> <td>43.00</td> <td>25.00</td> <td></td> </tr> <tr> <td>6.</td> <td>Central Bank of India (CBI)<br/>Applicant No. 7</td> <td>Existing<br/>48.00<br/>+<br/>15.00<br/><br/>To<br/>48.00<br/>+<br/>15.00</td> <td>Existing<br/>15.00<br/><br/>To<br/>15.00</td> <td></td> </tr> <tr> <td>7.</td> <td>Allahabad Bank of India (ALB)<br/>*Loan assigned to EDELWEISS<br/>Applicant No. 2</td> <td>Existing 70.00<br/><br/>To<br/>64.00</td> <td>Existing<br/>50.00<br/><br/>To<br/>50.00</td> <td></td> </tr> <tr> <td>8.</td> <td>Karnataka Bank (KTB) Applicant No. 8</td> <td>Existing 19.00<br/>+<br/>25.00<br/><br/>To<br/>17.50<br/>+<br/>25.00</td> <td>Existing<br/><br/>To<br/>10.00</td> <td></td> </tr> <tr> <td>9.</td> <td>Union Bank of India (UBI)</td> <td>Existing 35.00<br/><br/>To<br/>43.00</td> <td>Existing<br/>15.00<br/><br/>To<br/>20.00</td> <td></td> </tr> <tr> <td>10.</td> <td>Andhra Bank (AB) Applicant No. 9</td> <td>25.00</td> <td>10.00</td> <td></td> </tr> <tr> <td>11.</td> <td>Lakshmi Villas Bank (LVB)</td> <td>43.00</td> <td>5.00</td> <td></td> </tr> <tr> <td>12.</td> <td>United Commercial Bank (UCO)</td> <td>51.00</td> <td>10.00</td> <td></td> </tr> </table>

\*Amount in Crore. (Limits exclude the sub limits granted by the Applicants)

2.17 It is stated in the OA that somewhere in year, 2011 the Defendant No. 1/Borrower Company once again requested the Applicant Bank No. 10 (UCO) to sanction certain credit limits and after considering the information and the documents put forth by the defendants, the limits were enhanced/renewed by Applicant No.10 (UCO), the details of which are as follows:-

<thead> <tr> <th>SL No.</th> <th>Name of the Bank (Member)</th> <th>Fund Based + Term Loan</th> <th>Non-Fund based</th> <th>Total</th> </tr> </thead> <tbody> <tr> <td>1.</td> <td>United Commercial Bank (UCO) Applicant No. 10</td> <td>72</td> <td>12</td> <td>84</td> </tr> </tbody> </table>

It is stated that other than the hypothecating the fixed and the moveable assets of Defendant No.1 for securing the above mentioned limits, some additional securities in form of Personal Guarantees, Corporate Guarantees and Immovable properties were also furnished. The details of all the securities furnished by the defendants for securing the above mentioned limits have been given in Para 5(5.48) of the OA.

Moreover, to avail above mentioned said facility the defendants had submitted and executed various documents including the loaning and security document in favour of the Applicant Bank No 1. Vide these documents the facilities availed by the defendants were acknowledged with an undertaking to repay the same with the interest charged thereon, to fulfill the terms and conditions as enumerated in the sanction letter dated 10.10.2011 and further securities in favor of the Applicant Bank No.10 was created to secure the monies lent by them. The documents which were submitted and executed were as follows:-

- (a) Packing Credit Form dated 22.11.2011;

- (b) Demand Promissory Note dated 22.11.2011 for Rs. 72.00 Crore;

- (c) Document for Acknowledging the interest Component dated 22.11.2011;

- (d) Board resolution of M/s. Hanung Toys and Textile Ltd. dated 22.11.2011;

- (e) Board resolution of M/s. Hanung Processor Private Ltd. dated 22.11.2011;

- (f) Board resolution of M/s. Praneet Softech Private Ltd. dated 22.11.2011;

- (g) Board resolution of M/s. Sankalpa Overseas Private Ltd. dated 22.11.2011;

- (h) Board resolution of M/s. Hanung Furnishing Private Ltd. dated 22.11.2011;

- (i) Board resolution of M/s. C. K Software Private Ltd. dated 22.11.2011;

- (j) Board resolution of M/s. Abhinav International Private Ltd. dated 22.11.2011;

- (k) Agreement of Guarantee for Rs. 84.0 Crore by Mr. Ashok Kumar Bansal dated 22.11.2011;

- (l) Agreement of Guarantee for Rs. 84.0 Crore by Mrs. Anju Bansal dated 22.11.2011;

- (m) Agreement of Guarantee for Rs. 84.0 Crore by Ashok Kumar Bansal (HUF) dated 22.11.2011;

- (n) Agreement of Guarantee for Rs. 84 Crore by M/s. Hanung Processor Private Ltd. dated 22.11.2011;

- (o) Agreement of Guarantee for Rs 84.0 Crore by M/s. Hanung Furnishing Private Ltd. dated 22.11.2011;

- (p) Agreement of Guarantee for Rs. 84.0 Crore by M/s. Praneet Softech Private Ltd. dated 22.11.2011;

- (q) Agreement of Guarantee for Rs. 84.0 Crore by M/s. Sankalpa Overseas Private Ltd. dated 22.11.2011;

- (r) Agreement of Guarantee for Rs. 84.0 Crore by M/s. C. K Software Private Ltd. dated 22.11.2011;

- (s) Agreement of Guarantee for Rs. 84.0 Crore by M/s Abhinav International Private Ltd. dated 22.11.2011;

- (t) Undertaking regarding commission of M/s. Hanung Processor Private Ltd. dated 22.11.2011;

- (u) Undertaking regarding commission of M/s. Praneet Softech Private Ltd. dated 22.11.2011;

- (v) Undertaking regarding commission of M/s. Sankalpa Overseas Private Ltd. dated 22.11.2011;

- (w) Undertaking regarding commission M/s. Hanung Furnishing Private Ltd. dated 22.11.2011;

- (x) Undertaking regarding commission of M/s. C. K Software Private Ltd. dated 22.11.2011;

- (y) Undertaking regarding commission of M/s. Abhinav International Private Ltd. dated 22.11.2011;

- (z) Agreement for extension of Charge by way of Hypothecation of Current Assets to secure Non Fund Based facilities dated 22.11.2011;

- (aa) Agreement for Hypothecation to secure Cash Credit dated 22.11.2011;

- (bb) Deed of Hypothecation of Movable Plant and Machinery dated 22.11.2011;

- (cc) Hypothecation of Book Debts dated 22.11.2011;

- (dd) Omnibus Guarantees dated 22.11.2011;

- (ee) Certified by Mr. Surinder Kumar Jain dated 22.11.2011;

- (ff) Affidavit by Mr. Surinder Kumar Jain dated 22.11.2011;

- (gg) General undertaking by the M/s. Hanung Toys and Textile Ltd. dated 22.11.2011;

- (hh) Undertaking regarding FEMA by the M/s. Hanung Toys and Textile Ltd. dated 22.11.2011;

- (ii) Undertaking regarding borrowing powers of the Company by the M/s. Hanung Toys and Textile Ltd. dated 22.11.2011;

- (jj) Undertaking regarding ECGC and Exports by the M/s. Hanung Toys and Textile Ltd. dated 22.11.2011.

2.18 Thereafter, in the December 2011, Defendants/Borrower requested for sanctioning of a fresh term loan, outside the consortium and after considering the information and the documents put forth by the defendants, an fresh term loan of Rs. 62.44 Crore was sanctioned and thereafter the exposure of the Applicant No.1 PNB with Defendant No. 1/Borrower Company was as follows:-

<thead> <tr> <th>SL No.</th> <th>Name of the Bank (Member)</th> <th>Fund based</th> <th>Term Loan</th> <th>Non-Fund based</th> <th>Total</th> </tr> </thead> <tbody> <tr> <td>1.</td> <td>Punjab National Bank (PNB) Applicant No.1</td> <td>175.20</td> <td>TL (I) 15.00 (outstanding against 30.00)<br/><br/>Fresh TL 62.44</td> <td>120.00</td> <td>372.64</td> </tr> <tr> <td></td> <td></td> <td></td> <td></td> <td></td> <td></td> </tr> </tbody> </table>

\*Amounts are in Crore

It is stated in the OA that other than the hypothecating the fixed and the moveable assets of Defendant No.1 for securing the above mentioned limits, some additional securities in form of Personal Guarantees, Corporate Guarantees and Immovable properties were also furnished. The details of all the securities furnished by the defendants for securing the above mentioned limits have been given in Para 5(5.51) of the OA.

It is also stated that to avail above mentioned said facility the defendants had submitted and executed various documents including the loaning and security document in favour of the Applicant Bank No 1. Vide these documents the facilities availed by the defendants were acknowledged with an undertaking to repay the same with the interest charged thereon, to fulfill the terms and conditions as enumerated in the sanction letter dated 27.12.2011 and further securities in favour of the Applicant Bank No.1 was created to secure the monies lent by them. The documents which were submitted and executed were as follows:-

- (a) Term Loan Agreement dated 28.11.2011 for Rs. 62.44 Crore;

- (b) Demand Promissory Note dated 28.11.2011 for Rs. 62.44 Crore;

- (c) Board resolution of M/s. Hanung Toys and Textile Ltd. dated 27.12.2011;

- (d) Board resolution of M/s. Hanung Processor Private Ltd. dated 27.12.2011;

- (e) Board resolution of M/s. Sankalpa Overseas Private Ltd. dated 27.12.2011;

- (f) Board resolution of M/s. Hanung Furnishing Private Ltd. dated 27.12.2011;

- (g) Board resolution of M/s. Abhinav International Private Ltd. dated 27.12.2011;

- (h) Agreement of Guarantee for Rs. 372.64 Crore by Mr. Ashok Kumar Bansal dated 28.12.2011;

- (i) Agreement of Guarantee for Rs. 372.64 Crore by Mrs. Anju Bansal dated 28.12.2011;

- (j) Agreement of Guarantee for Rs. 372.64 Crore by Ashok Kumar Bansal (HUF) dated 28.12.2011;

- (k) Agreement of Guarantee for Rs. 372.64 Crore by M/s. Hanung Processor Private Ltd. dated 28.12.2011;

- (l) Agreement of Guarantee for Rs 372.64 Crore by M/s. Hanung Furnishing Private Ltd. dated 28.12.2011;

- (m) Agreement of Guarantee for Rs. 372.64 Crore by M/s. Praneet Softech Private Ltd. dated 28.12.2011;

- (n) Agreement of Guarantee for Rs. 372.64 Crore by M/s. Sankalpa Overseas Private Ltd. dated 28.12.2011;

- (o) Agreement of Guarantee for Rs. 372.64 Crore by M/s. C. K Software Private Ltd. dated 28.12.2011;

- (p) Agreement of Guarantee for Rs. 372.64 Crore by M/s Abhinav International Private Ltd. dated 28.12.2011;

- (q) Confirmation of deposit of title deed for Property located at plot no. 108-109,110 and 125 NSEZ, Noida, Uttar Pradesh owned by M/s. Hanung Toys and Textiles Limited dated 02.01.2012;

- (r) Confirmation of deposit of title deed for Property located at A-21. Hosiery complex, Phase II, Noida, owned M/s. Pranet Softech Private Limited dated 02.01.2012;

- (s) Confirmation of deposit of title deed for Property situated at village Lakeshari Pargana Bhagwanpur, Tehsil Roorkee, District Hardwar in the state of Uttarakhand owned by M/s. Hanung Toys and Textiles Limited dated 02.01.2012;

- (t) Confirmation of deposit of title deed for Property Located Block B-1, Sector 59, Phase III, NOIDA, District Gautam Budh Nagar, UP, owned by M/s. C. K. Software Private Limited dated 02.01.2012;

- (u) Confirmation of deposit of title deed for Property located at plot No-115, NSEZ, Noida, owned M/s. Hanung Furnishings Private Limited dated 02.01.2012;

- (v) Confirmation of deposit of title deed for Property located at B-7, Hosiery Complex, Phase-II, NOIDA, District Gautam Budh Nagar, UP owned M/s. Hanung Processors Private Limited dated 02.01.2012;

- (w) Confirmation of deposit of title deed for Property located at G-20, Sector-VI, NOIDA, UP owned M/s. Sankalp Overseas Private Limited dated 02.01.2012;

- (x) Confirmation of deposit of title deed for Property located at E-93, Enclave 1, Second floor and Third Floor, Greater Kailash. New Delhi Mr. Ashok Kumar Bansal dated 02.01.2012;

- (y) Confirmation of deposit of title deed for Property located at E-93, Enclave 1, Second floor and Third Floor, Greater Kailash, New Delhi Mrs. Anju Bansal dated 02.01.2012;

- (z) Confirmation of deposit of title deed for Property situated at village Lakeshari Pargana Bhagwanpur, Tehsil Roorkee, District Hardwar in the state of Uttarakhand owned by M/s. Hanung Toys and Textiles Limited dated 02.01.2012.

2.19 It is stated in the OA that in May, 2012 the Defendant No.1/Borrower Company had requested the Applicant Bank No. 5 (BOB) to sanction additional credit limits and after considering the information and the documents put forth by the defendants, the limits were enhanced/renewed by Applicant No. 5 (BOB) vide its Sanction Letter dated 16.04.2012, the details of which are as follows:-

<thead> <tr> <th>SL No.</th> <th>Name of the Bank (Member)</th> <th>Fund Based</th> <th>Non-Fund based</th> <th>Total</th> </tr> </thead> <tbody> <tr> <td>1.</td> <td>Bank of Baroda (BOB)<br/>Applicant no. 5</td> <td>70.00</td> <td>50.00</td> <td>120.00</td> </tr> </tbody> </table>

\*Amounts in Crore

It is stated in the OA that the Board of the Defendant No. 1 submitted a resolution dated 31.08.2009 passed by the member of the Company for the borrowing power of the Company.

2.20 It is further stated in the OA that the Defendants again approached the Applicant Bank No. 5 and requested for amending the terms of the Sanction. The Applicant Bank No. 5 (BOB) acceded the request of the Defendants and terms were amended vide Sanction Letter dated 07.05.2012.

It is also stated that to avail the above mentioned said facilities, the defendants had submitted and executed various documents including the loaning and security document in favour of the Applicant Bank No. 5. Vide these documents the facilities availed by the defendants were acknowledged with an undertaking to repay the same with the interest charged thereon, to fulfill the terms and conditions as enumerated in the sanction letter dated 07.05.2012 and further securities in favour of the Applicant Bank No. 5 were created to secure the monies lent by them. The documents which were submitted and executed were as follows:-

- (a) Duly accepted copy of sanction dated 07.05.2012;

- (b) Board resolution of M/s. Hanung Toys and Textile Ltd. dated 07.05.2012;

- (c) Board resolution of M/s. Hanung Processor Private Ltd. dated 07.05.2012;

- (d) Board resolution of M/s. Praneet Softech Private Ltd. dated 07.05.2012;

- (e) Board resolution of M/s. Sankalpa Overseas Private Ltd. dated 07.05.2012;

- (f) Board resolution of M/s. Hanung Furnishing Private Ltd. dated 07.05.2012;

- (g) Board resolution of M/s. C. K Software Private Ltd. dated 07.05.2012;

- (h) Board resolution of M/s. Abhinav International Pvt. Ltd. dated 07.05.2012;

- (i) D.P. Note for Rs. 70.0 Crore dated 07.05.2012;

- (j) Letter of Continuity securing Rs. 70.0 Crore (PFPC) dated 07.05.2012;

- (k) Letter of Continuity securing Rs. 24.0 Crore dated 07.05.2012;

- (l) Letter of Continuity securing Rs. 70.0 Crore dated 07.05.2012;

- (m) General Form of Guarantee for Rs. 120.0 Crores dated 07.05.2012;

- (n) Agreement of Corporate Guarantee executed by M/s. Hanung Processor Private Ltd. dated 07.05.2012;

- (o) Agreement of Corporate Guarantee executed by M/s. C. K Software Private Ltd. dated 07.05.2012;

- (p) Agreement of Corporate Guarantee executed by M/s. Sankalpa Overseas Private dated 07.05.2012;

- (q) Agreement of Corporate Guarantee executed by M/s. Pranet Softech Private Ltd. dated 07.05.2012;

- (r) Agreement of Corporate Guarantee executed by Abhinav International Pvt. Ltd dated 07.05.2012;

- (s) Composite Hypothecation Agreement dated 07.05.2012;

- (t) Power of Attorney for Book Debts dated 07.05.2012;

- (u) Undertaking for Non - Disposal of Shares dated 07.05.2012;

- (v) Letter of Pledge of Goods for Advance dated 07.05.2012;

- (w) Undertaking cum Declaration for Environmental Protection dated 07.05.2012;

- (x) Foreign Bills Purchase Agreement dated 07.05.2012;

- (y) Declaration cum Undertaking authorized by all dated 07.05.2012;

- (z) Letter of Undertaking (Book Debts) dated 07.05.2012;

- (aa) Trust Receipts (Exports) dated 07.05.2012;

- (bb) Undertaking in terms of Sanction dated 07.05.2012;

- (cc) General Undertaking dated 07.05.2012;

- (dd) Letter of Bills Purchased / Discounted dated 07.05.2012;

- (ee) Letters of Pledge dated 07.05.2012;

- (ff) Declaration executed by the Defendant No. 1 Company dated 07.05.2012;

- (gg) Undertaking not to withdraw deposit by Director etc. till advance liquidated dated 07.05.2012;

- (hh) Agreement of Corporate Guarantee executed by M/s. Hanung Furnishing Private Ltd. dated 07.05.2012;

- (ii) Agreement of General Guarantee executed by Ashok Kumar Bansal and Anju Bansal, dated 07.05.2012;

- (jj) Letter of Undertaking (Packing Credit Advances) dated 07.05.2012;

- (kk) NOC for ceding of Pari-Passu Charge dated 11.05.2012.

2.21 It is stated in the OA that in July, 2012 the Defendant No.1/ Borrower Company had requested the Applicant Bank No. 6 (BOI) to sanction additional credit limits and after considering the and after considering the information and the documents put forth by the defendants the limits were enhanced/renewed by Applicant No.6 (BOI) and the same were as follows:

<thead> <tr> <th>SL No.</th> <th>Name of the Bank (Member)</th> <th>Fund based</th> <th>Non-Fund based</th> <th>Total</th> </tr> </thead> <tbody> <tr> <td>1.</td> <td>Bank of India (BOI) Applicant No. 06</td> <td>54</td> <td>28</td> <td>82.00</td> </tr> </tbody> </table>

\*Amounts in Crore

It is stated in the OA that other than the hypothecating the fixed and the moveable assets of Defendant No.1 for securing the above mentioned limits, some additional securities in form of Personal Guarantees, Corporate Guarantees and Immovable properties were also furnished. The details of all the securities furnished by the defendants for securing the above mentioned limits have been given in Para 5(5.58) of OA.

It is stated that to avail above mentioned said facilities the defendants had submitted and executed various documents including the loaning and security document in favour of the Applicant Bank No. 6. Vide these documents the facilities availed by the defendants were acknowledged with an undertaking to repay the same with the interest charged thereon, to fulfill the terms and conditions as enumerated in the sanction letter dated 09.07.2012 and further securities in favour of the Applicant Bank No.1 was created to secure the monies lent by them. The documents which were submitted and executed were as follows:-

- (a) Duly accepted copy of sanction dated 09.07.2012;

- (b) Board resolution of M/s. Hanung Toys and Textile Ltd. dated 30.07.2012;

- (c) Board resolution of M/s. Hanung Processor Private Ltd. dated 30.07.2012;

- (d) Board resolution of M/s. Praneet Softech Private Ltd. dated 30.07.2012;

- (e) Board resolution of M/s. Sankalpa Overseas Private Ltd. dated 30.07.2012;

- (f) Board resolution of M/s. Hanung Furnishing Private Ltd. dated 30.07.2012;

- (g) Board resolution of M/s. C. K Software Private Ltd. dated 30.07.2012;

- (h) D P Note for Rs. 28.40 Crore dated 30.07.2012;

- (i) Credit facility Agreement dated 30.07.2012;

- (j) Working Capital Agreement dated 30.07.2012;

- (k) Agreement for Hypothecation Cum Term Loan dated 30.07.2012;

- (l) Deed of Guarantee dated 30.07.2012;

- (m) Working Capital Agreement for total limits dated 30.07.2012;

- (n) Declaration dated 30.07.2012;

- (o) Undertaking and confirmation dated 30.07.2012.

2.22 Once again in the year 2012, the Defendants/Borrower for the purpose of augmenting its business request the member of the consortium to enhance the limits of Defendant No.1/Borrower Company and after considering the information and the documents put forth by the defendants, the certain enhanced/renewed limits sanctioned were sanctioned vide the Sanction Letters of member Banks of the Consortium. These sanction letters enumerated various terms and conditions on which the loans were to be disbursed to the Defendants / Borrowers and since it was a facility under the consortium, the member Banks executed an Inter-se Agreement dated 09.01.2012.

The gist of the facilities which were encashed/renewed by the member of the Consortium in 2012, on request of the Defendants are as follows:-

<thead> <tr> <th>SL No.</th> <th>Name of the Bank (Member)</th> <th>Fund based + Term Loan</th> <th>Non-Fund based</th> <th>Total</th> </tr> </thead> <tbody> <tr> <td>1.</td> <td>Punjab National Bank (PNB)<br/>Applicant No. 1</td> <td>180.20<br/>+<br/>30.00</td> <td>120</td> <td></td> </tr> <tr> <td>2.</td> <td>State Bank of India (SBI)<br/>*Loan assigned to EDELWEISS<br/>Applicant No. 2</td> <td>50.00<br/>+<br/>30.00</td> <td>12</td> <td></td> </tr> <tr> <td>3.</td> <td>Syndicate Bank (SB) Applicant No. 3</td> <td>42.00<br/>+<br/>10.00</td> <td>10</td> <td></td> </tr> <tr> <td>4.</td> <td>Oriental Bank Of Commerce (OBC) Applicant No. 4</td> <td>84.00<br/>+<br/>20.00</td> <td>32.40</td> <td></td> </tr> <tr> <td>5.</td> <td>Bank of India (BOI) Applicant No. 6</td> <td>54.00</td> <td>28.00</td> <td></td> </tr> <tr> <td>6.</td> <td>Central Bank of India (CBI) Applicant No. 7</td> <td>63.00</td> <td>15.00</td> <td></td> </tr> <tr> <td>7.</td> <td>Allahabad Bank (ALB)<br/>*Loan assigned to EDELWEISS<br/>Applicant No. 2</td> <td>84</td> <td>60.00</td> <td></td> </tr> <tr> <td>8.</td> <td>Karnataka Bank (KTB) Applicant No. 8</td> <td>44</td> <td>7.00</td> <td></td> </tr> <tr> <td>9.</td> <td>Union Bank of India (UBI)</td> <td>47</td> <td>18</td> <td></td> </tr> <tr> <td>10.</td> <td>Andhra Bank</td> <td>30</td> <td>12.00</td> <td></td> </tr> </tbody> </table>

<tr> <td></td> <td>(AB) Applicant No. 9</td> <td></td> <td></td> <td></td> </tr> <tr> <td>11.</td> <td>Lakshami Villas Bank (LVB)</td> <td>15.00</td> <td>5.00</td> <td></td> </tr> <tr> <td>12.</td> <td>United Commercial Bank (UCO) Applicant No. 10</td> <td>72.00</td> <td>12.00</td> <td></td> </tr> <tr> <td>13.</td> <td>ICICI Bank Ltd.<br/>* Loan assigned to EDELWEISS Applicant No. 2</td> <td>25</td> <td>25</td> <td></td> </tr> <tr> <td></td> <td><b>Grand Total</b></td> <td></td> <td></td> <td><b>1306.60</b></td> </tr> </table>

\* Amounts in Crore

It is stated in the OA that other than the hypothecating the fixed and the moveable assets of Defendant No.1 for securing the above mentioned limits, some additional securities in form of Personal Guarantees, Corporate Guarantees and Immovable properties were also furnished. The details of all the securities furnished by the defendants for securing the above mentioned limits have been given in Para 5(5.62) of the OA.

In order to avail the said facilities the defendants had submitted and executed various documents including the loaning and security document in favour of the Applicants mentioned above being member of Consortium. Vide these documents the facilities availed by the defendants were acknowledged with an undertaking to repay the same with the interest charged thereon, to fulfill the terms and conditions as enumerated in the sanction letters of member Banks and further securities in favour of the said applicants were created to secure the monies lent by them. The documents which were submitted and executed were as follows:-

- (a) Board resolution of M/s. Hanung Toys and Textile Ltd. dated 28.12.2011;

- (b) Board resolution of M/s. Hanung Processor Private Ltd. dated 28.12.2011;

- (c) Board resolution of M/s. Praneet Softech Private Ltd. dated 28.12.2011;

- (d) Board resolution of M/s. Sankalpa Overseas Private Ltd. dated 28.12.2011;

- (e) Board resolution of M/s. Hanung Furnishing Private Ltd. dated 28.12.2011;

- (f) Board resolution of M/s. C. K Software Private Ltd. dated 28.12.2011;

- (g) Board resolution of M/s. Abhinav International Private Ltd. dated 28.12.2011;

- (h) Working capital Consortium Agreement dated 09.01.2012;

- (i) Term Loan Agreement dated 09.01.2012 for Rs. 200.0 Crore;

- (j) Joint Deed of Hypothecation dated 09.01.2012 for Rs. 1306.60 Crore;

- (k) Letter of nomination nominating and appointing Applicant No. 1, PNB as Lead Bank;

- (l) Letter for creation of charge dated 09.01.2012;

- (m) Agreement of Guarantee for Rs. 1306.60 Crore by Mr. Ashok Kumar Bansal dated 09.01.2012;

- (n) Agreement of Guarantee for Rs. 1306.60 Crore by Mrs. Anju Bansal dated 09.01.2012;

- (o) Agreement of Guarantee for Rs. 1306.60 Crore by Ashok Kumar Bansal (HUF) dated 09.01.2012;

- (p) Agreement of Guarantee for Rs. 1306.60 Crore by M/s. Hanung Processor Private Ltd. dated 09.01.2012;

- (q) Agreement of Guarantee for Rs. 1306.60 Crore by M/s. Hanung Furnishing Private Ltd. dated 09.01.2012;

- (r) Agreement of Guarantee for Rs. 1306.60 Crore by M/s. Praneet Softech Private Ltd. dated 09.01.2012;

- (s) Agreement of Guarantee for Rs. 1306.60 Crore by M/s. Sankalpa Overseas Private Ltd. dated 09.01.2012;

- (t) Agreement of Guarantee for Rs. 1306.60 Crore by M/s. C. K Software Private Ltd. dated 09.01.2012;

- (u) Agreement of Guarantee for Rs. 1306.60 Crore by M/s. Abhinave International Private Ltd. dated 09.01.2012;

- (v) Confirmation of deposit of title deed for Property located at plot no. 108-109,110 and 125 NSEZ, Noida, Uttar Pradesh owned by M/s. Hanung Toys and Textiles Limited dated 09.01.2012;

- (w) Confirmation of deposit of title deed for Property located at A-21, Hosiery complex, Phase II, Noida, owned M/s. Praneet Softech Private Limited dated 09.01.2012;

- (x) Confirmation of deposit of title deed for Property Located Block B-1, Sector 59, Phase III, NOIDA, District Gautam Budh Nagar, UP, owned by M/s. C. K. Software Private Limited dated 09.01.2012;

- (y) Confirmation of deposit of title deed for Property located at plot No-115, NSEZ, Noida, owned M/s.


Hanung Furnishings Private Limited dated 09.01.2012;

- (z) Confirmation of deposit of title deed for Property located at B-7, Hosiery Complex, Phase-II, NOIDA, District Gautam Budh Nagar, UP owned M/s. Hanung Processors Private Limited dated 09.01.2012;

- (aa) Confirmation of deposit of title deed for Property located at G-20, Sector-VI, NOIDA, UP owned M/s. Sankalp Overseas Private Limited dated 09.01.2012;

- (bb) Confirmation of deposit of title deed for Property located at E- 93, Enclave 1, Second floor and Third Floor, Greater Kailash, New Delhi Mr. Ashok Kumar Bansal dated 09.01.2012;

- (cc) Confirmation of deposit of title deed for Property located at E- 93, Enclave 1, Second floor and Third Floor, Greater Kailash, New Delhi Mrs. Anju Bansal dated 09.01.2012;

- (dd) Confirmation of deposit of title deed for Property situated at village Lakeshari Pargana Bhagwanpur, Tehsil Roorkee, District Hardwar in the state of Uttarakhand owned by M/s. Hanung Toys and Textiles Limited dated 09.01.2012;

- (ee) Confirmation of deposit of title deed for Property situated at village Lakeshari Pargana Bhagwanpur, Tehsil Roorkee, District Hardwar in the state of Uttarakhand owned by M/s. Hanung Toys and Textiles Limited dated 09.01.2012.

2.23 It is stated in the OA that in the year May 2012, on the request of the Defendants/Borrower and after considering the information and the documents put forth by the defendants the limits were enhanced/renewed by Applicant No.1 PNB and the same were as follows:-

<thead> <tr> <th>SL No.</th> <th>Name of the Bank (Member)</th> <th>Fund Based + Term Loan</th> <th>Non-Fund based</th> <th>Total</th> </tr> </thead> <tbody> <tr> <td>1.</td> <td>Punjab National Bank (PNB)<br/>Applicant No. 1</td> <td>Existing 175.20<br/>+<br/>30.00<br/><br/>To 246.00<br/>+<br/>30.00</td> <td>Existing 120.00<br/><br/><br/>To 168.00</td> <td></td> </tr> </tbody> </table>

It is stated in the OA that other than the hypothecating the fixed and the moveable assets of Defendant No.1 for securing the above mentioned limits, some additional securities in form of Personal Guarantees, Corporate Guarantees and Immovable properties were also furnished. The details of all the securities furnished by the defendants for securing the above mentioned limits have been given in Para 5(5.65) of the OA.

It is further stated that to avail above mentioned said facilities the defendants had submitted and executed various documents including the loaning and security document in favour of the Applicant Bank No 1. Vide these documents the facilities availed by the defendants were acknowledged with an undertaking to repay the same with the interest charged thereon, to fulfill the terms and conditions as 

enumerated in the Sanction Letter dated 10.05.2011 and further securities in favour of the Applicant Bank No.1 was created to secure the monies lent by them. The documents which were submitted and executed were as follows:-

- (a) Board resolution of M/s. Hanung Toys and Textile Ltd. dated 11.05.2012;

- (b) Board resolution of M/s. Hanung Processor Private Ltd. dated 11.05.2012;

- (c) Board resolution of M/s. Praneet Softech Private Ltd. dated 11.05.2012;

- (d) Board resolution of M/s. Sankalpa Overseas Private Ltd. dated 11.05.2012;

- (e) Board resolution of M/s. Hanung Furnishing Private Ltd. dated 11.05.2012;

- (f) Board resolution of M/s. C. K Software Private Ltd. dated 11.05.2012;

- (g) Board resolution of M/s. Abhinav International Private Ltd. dated 11.05.2012;

- (h) Agreement for Hypothecation of Current Assets dated 15.05.2012 for Rs. 490.15 Crore;

- (i) Agreement for Hypothecation of Moveable Assets forming part of fixed/block assets dated 15.05.2012;

- (j) Agreement for Hypothecation of Good and Book Debts for securing Cash Credit facility dated 15.05.2012;

- (k) Supplementary Agreement dated 15.05.2012 for 490.15 Crore;

- (l) Authority Letter for direct collection of bills/cheques dated 15.05.2012;

- (m) Deed of Hypothecation to secure LC on DA/DP basis dated 15.05.2012;

- (n) General Counter Indemnity dated 15.05.2012;

- (o) Packing Credit Agreement (Hypothecation) dated 15.05.2012;

- (p) General Indemnity dated 15.05.2012;

- (q) Supplementary Agreement dated 15.05.2012 for 411.00 Crore;

- (r) Agreement of Guarantee for Rs. 490.15 Crore by Mr. Ashok Kumar Bansal dated 15.05.2012;

- (s) Agreement of Guarantee for Rs. 490.15 Crore by Mrs. Anju Bansal dated 15.05.2012;

- (t) Agreement of Guarantee for Rs. 490.15 Crore by Ashok Kumar Bansal (HUF) dated 15.05.2012;

- (u) Agreement of Guarantee for Rs. 490.15 Crore by M/s. Hanung Processor Private Ltd, dated 15.05.2012;

- (v) Agreement of Guarantee for Rs. 490.15 Crore by M/s. Hanung Furnishing Private Ltd. dated 15.05.2012;

- (w) Agreement of Guarantee for Rs. 490.15 Crore by M/s. Praneet Softech Private Ltd. dated 15.05.2012;

- (x) Agreement of Guarantee for Rs. 490.15 Crore by M/s. Sankalpa Overseas Private Ltd. dated 15.05.2012;

- (y) Agreement of Guarantee for Rs. 490.15 Crore by M/s. C. K Software Private Ltd. dated 15.05.2012;

- (z) Agreement of Guarantee for Rs. 490.15 Crore by M/s Abhinav International Private Ltd. dated 15.05.2012;

- (aa) Accepted copy of sanction dated 11.05.2012;

- (bb) Confirmation of deposit of title deed for Property located at plot no. 108-109,110 and 125 NSEZ, Noida, Uttar Pradesh owned by M/s. Hanung Toys and Textiles Limited dated 16.05.2012;

- (cc) Confirmation of deposit of title deed for Property located at A-21, Hosiery complex, Phase II, Noida, owned M/s. Pranet Softech Private Limited dated 16.05.2012;

- (dd) Confirmation of deposit of title deed for Property Located Block B-1, Sector 59, Phase III, NOIDA, District Gautam Budh Nagar, UP, owned by M/s. C. K. Software Private Limited dated 16.05.2012;

- (ee) Confirmation of deposit of title deed for Property located at plot No-115, NSEZ, Noida, owned M/s. Hanung Furnishings Private Limited dated 16.05.2012;

- (ff) Confirmation of deposit of title deed for Property located at B-7, Hosiery Complex, Phase-II, NOIDA, District Gautam Budh Nagar, UP owned M/s. Hanung Processors Private Limited dated 16.05.2012;

- (gg) Confirmation of deposit of title deed for Property located at G-20, Sector-VI, NOIDA, UP owned M/s. Sankalp Overseas Private Limited dated 16.05.2012;

- (hh) Confirmation of deposit of title deed for Property located at E-93, Enclave 1, Second floor and Third Floor, Greater Kailash, New Delhi Mr. Ashok Kumar Bansal dated 16.05.2012;

- (ii) Confirmation of deposit of title deed for Property located at E-93, Enclave 1, Second floor and Third Floor, Greater Kailash, New Delhi Mrs. Anju Bansal dated 16.05.2012;

- (jj) Confirmation of deposit of title deed for Property situated at village Lakeshari Pargana Bhagwanpur, Tehsil Roorkee, District Hardwar in the state of Uttarakhand owned by M/s. Hanung Toys and Textiles Limited dated 16.05.2012;

- (kk) Confirmation of deposit of title deed for Property situated at village Lakeshari Pargana Bhagwanpur, Tehsil Roorkee, District Hardwar in the state of Uttarakhand owned by M/s. Hanung Toys and Textiles Limited dated 16.05.2012.

2.24 It is pertinent to mention that Defendant No.1/ borrower Company had at this juncture changed the scope of the project and reduced its debt requirements from Rs.557.24 crore to Rs.262.44 crore and accordingly requested the Applicant No.7 (CBI) to reduce the Term Loan facility from Rs.200.0 crore to Rs.100.0 crore. Thus, the request of the Defendant No. 1/ borrower Company was considered by the Applicant No.7 in August 2012 and said Term Loan facility was reduced from Rs.200.0 crore to Rs. 100.0 crore.

2.25 It is stated in the OA that in the year 2012 the Defendant No.1/ Borrower Company had requested the Applicant Bank No.11 (KVB) to sanction certain credit limits and after considering the and after considering the information and the documents put forth by the defendants the limits were enhanced/renewed by Applicant No. 11 (KVB) and the same were as follows:-

<thead> <tr> <th>SL No.</th> <th>Name of the Bank (Member)</th> <th>Fund based</th> <th>Non-Fund based</th> <th>Total</th> </tr> </thead> <tbody> <tr> <td>1.</td> <td>Karur Vysya Bank (KVB)<br/>Applicant No. 11</td> <td>40</td> <td>5.00</td> <td>45.00</td> </tr> </tbody> </table>

\*Amounts in Crore

It is stated in the OA that other than the hypothecating the fixed and the moveable assets of Defendant No.1 for securing the above mentioned limits, some additional securities in form of Personal Guarantees, Corporate Guarantees and Immovable properties were also furnished. The details of all the securities furnished by the defendants for securing the above mentioned limits have been given in Para 5(5.69) of the OA.

Further, in order to avail above mentioned said facilities the defendants had submitted and executed various documents including the loaning and security document in favour of the Applicant Bank No 1. Vide these documents the facilities availed by the defendants were acknowledged with an undertaking to repay the same with the interest charged thereon, to fulfil the terms and conditions as enumerated in the sanction letter dated 29.10.2012 and further securities in favour of the Applicant Bank No.1 was created to secure the monies lent by them. The documents which were submitted and executed were as follows:-

- (a) Board resolution of M/s. Hanung Toys and Textile Ltd. dated 07.11.2012;

- (b) Board resolution of M/s. Hanung Processor Private Ltd. dated 07.11.2012;

- (c) Board resolution of M/s, Praneet Softech Private Ltd. dated 07.11.2012;

- (d) Board resolution of M/s. Sankalpa Overseas Private Ltd. dated 07.11.2012;

- (e) Board resolution of M/s. Hanung Furnishing Private Ltd. dated 07.11.2012;

- (f) Board resolution of M/s. C. K Software Private Ltd. dated 07.11.2012;

- (g) Board resolution of M/s. Abhinav International Private Ltd. dated 07.11.2012;

- (h) Shipment Lien Agreement dated 23.11.2012;

- (i) Credit facility Agreement dated 23.11.2012;

- (j) DP Note for Rs. 25 Cr. dated 23.11.2012;

- (k) Letter of Waiver dated 23.11.2012;

- (l) Certificate for execution of Documents dated 23.11.2012;

- (m) Letter of Authority for Paying Insurance premium along with Letter for sharing Pari-passu Charge dated 23.11.2012;

- (n) Letter of Indemnity dated 23.11.2012;

- (o) Power Of Attorney dated 23.11.2012;

- (p) Declaration-cum-undertaking dated 23.11.2012;

- (q) Undertaking regarding CIBIL dated 23.11.2012;

- (r) Letter of Undertaking regarding negotiation of dated 23.11.2012;

- (s) Agreement of Guarantee for by Mr. Ashok Kumar Bansal. Anju Bansal and Ashok Kumar Bansal (HUF) dated 23.11.2012; 

- (t) Agreement of Guarantee by M/s. Hanung Processor Private Ltd. dated 23.11.2012;

- (u) Agreement of Guarantee by M/s. Hanung Furnishing Private Ltd. dated 23.11.2012;

- (v) Agreement of Guarantee by M/s. Praneet Softtech Private Ltd. dated 23.11.2012;

- (w) Agreement of Guarantee by M/s. Sankalpa Overseas Private Ltd. dated 23.11.2012;

- (x) Agreement of Guarantee by M/s. C. K Software Private Ltd. dated 23.11.2012;

- (y) Agreement of Guarantee by M/s Abhinav International Private Ltd dated 23.11.2012;

- (z) Acknowledged Copy of Sanction dated 29.10.2012.

2.26 It is stated in the OA that in the year August 2012, on request Defendants/Borrower and after considering the information and the documents put forth by the defendants the limits were enhanced/renewed by Applicant Bank No. 7 (CBI):-

<thead> <tr> <th>SL. No</th> <th>Name of the Bank (Member)</th> <th>Fund based + Term Loans</th> <th>Non-Fund based</th> <th>Total</th> </tr> </thead> <tbody> <tr> <td>1.</td> <td>Central Bank of India (Applicant No.7)</td> <td>Existing 48.00 + 215<br/><br/>Revised Rs.67.20 + *115</td> <td>Existing Rs.15.00<br/><br/>Revised Rs.18.20</td> <td>Rs.200.40</td> </tr> </tbody> </table>

\*Amounts in Crore

*\*Term Loans of Rs.115 crore includes two term loan accounts i.e. Rs.15 crore (which was renewed at run down balance of Rs.6.25 crore) and Term Loan of Rs.100 crore. Hence, Term Loans were renewed at Rs.106.25 crore and therefore total facilities renewed were at Rs.191.65 crore inclusive of working capital limits.*

It is stated in the OA that other than the hypothecating the fixed and the moveable assets of No.1 for securing the above mentioned limits, collateral securities in form of Personal Guarantees, Corporate Guarantees and Immovable properties were also furnished. The details of all the securities furnished by the defendants for securing the above mentioned limits have been given in Para 5(5.72) of the OA.

In order to avail the said facilities, the defendants had submitted and executed various documents including the loaning and security document in favour of the Applicant No.7 (CBI). Vide these documents the facilities availed by the defendants were acknowledged with an undertaking to repay the same with the interest charged thereon, to fulfil the terms and condition as enumerated in the sanction letters of member Banks and furthers securities in favour of the said applicant were created to secure the monies lent by it. The documents which were submitted and executed were as follows:-

- (a) Board resolution of M/s. Hanung Toys and Textile Ltd. Dated 20.08.2012;

- (b) Board resolution of M/s. Pranet Softech Private Ltd. dated 20.08.2012;

- (c) Board resolution of M/s, Sankalpa Overseas Private Ltd. dated 20.08.2012;

- (d) Board resolution of M/s. C.K. Software Private Ltd. dated 20.08.2012;

- (e) Board resolution of M/s. Hanung Processors Private Ltd. dated 20.08.2012;

- (f) Board resolution of M/s. Hanung Furnishing Private Ltd. dated 20.08.2012;

- (g) Board resolution of M/s. Abhinav International Private Ltd. dated 20.08.2012;

- (h) DP Note dated 21.08.2012;

- (i) Letter of Waiver dated 21.08.2012;

- (j) Letter of Interest Variation dated 21.08.2012;

- (k) Letter of Continuity dated 21.08.2012;

- (l) Letter of Hypothecation - Export Bills dated 21.08.2012;

- (m) Packing Credit Agreement dated 21.08.2012;

- (n) Application and Agreement of Letter of Credit dated 20.08.2012;

- (o) Undertaking dated 21.08.2012;

- (p) Agreement of Guarantee for by Mr. Ashok Kumar Bansal dated 21.08.2012;

- (q) Agreement of Guarantee by Mrs. Anju Bansal dated 21.08.2012;

- (r) Agreement of Guarantee by Ashok Kumar Bansal (HUF) dated 21.08.2012;

- (s) Agreement of Guarantee by M/s. Hanung Processor Private Ltd. dated 21.08.2012;

- (t) Agreement of Guarantee by M/s. Hanung Furnishing Private Ltd. dated 15.05.2012;

- (u) Agreement of Guarantee by M/s. Praneet Softech Private Ltd. dated 21.08.2012;

- (v) Agreement of Guarantee by M/s. Sankalpa Overseas Private Ltd. dated 21.08.2012;

- (w) Agreement of Guarantee by M/s. C. K Software Private Ltd. dated 21.08.2012;

- (x) Agreement of Guarantee by M/s Abhinav International Private Ltd. dated 21.08.2012.

2.27 It is stated in the OA that once again in the year 2013, the Defendants/Borrower for the purpose of augmenting its business requested the member of the consortium to enhance the limits of Defendant No.1/Borrower Company and after considering the information and the documents put forth by the defendants, certain enhanced/renewed limits were sanctioned vide the Sanction Letters of Banks of the Consortium. These sanction letters enumerated various terms and conditions on which the loans were to be disbursed to the Defendants / Borrowers and since it was a facility under the consortium, the member Banks executed an Inter-se Agreement dated 16.01.2013.

The gist of the facilities which were enhanced/renewed by the member of the Consortium in 2013, on request of the Defendants are as follows:-

<thead> <tr> <th>SL. No</th> <th>Name of the Bank (Member)</th> <th>Fund based</th> <th>Non-Fund based</th> <th>Total</th> </tr> </thead> <tbody> <tr> <td>1.</td> <td>Punjab National Bank (PNB)<br/>Applicant No. 1</td> <td>246</td> <td>168</td> <td></td> </tr> <tr> <td>2.</td> <td>State Bank of India (SBI)<br/>*Loan assigned To EDELWEISS<br/>Applicant No. 2</td> <td>50</td> <td>00</td> <td></td> </tr> <tr> <td>3.</td> <td>Syndicate Bank (SB)</td> <td>60</td> <td>10</td> <td></td> </tr> </tbody> </table>

<tr> <td></td> <td>Applicant No. 3</td> <td></td> <td></td> <td></td> </tr> <tr> <td>4.</td> <td>Oriental Bank Of Commerce (OBC)<br/>Applicant No. 4</td> <td>84</td> <td>32.40</td> <td></td> </tr> <tr> <td>5.</td> <td>Bank of Baroda (BOB)<br/>Applicant Bank No.5</td> <td>84</td> <td>60</td> <td></td> </tr> <tr> <td>6.</td> <td>Bank of India (BOI)<br/>Applicant No. 6</td> <td>75.60</td> <td>34.80</td> <td></td> </tr> <tr> <td>7.</td> <td>Central Bank of India (CBI)<br/>Applicant No. 7</td> <td>67.20</td> <td>#15.00</td> <td></td> </tr> <tr> <td>8.</td> <td>Allahabad Bank of India (ALB)<br/>*Loan assigned to EDELWEISS<br/>Applicant No. 2</td> <td>84</td> <td>48.00</td> <td></td> </tr> <tr> <td>9.</td> <td>Union Bank of India (UBI)</td> <td>72</td> <td>6.00</td> <td></td> </tr> <tr> <td>10.</td> <td>Andhra (AB)<br/>Applicant No. 9</td> <td>36</td> <td>12.00</td> <td></td> </tr> <tr> <td>11.</td> <td>United Commercial Bank (UCO)<br/>Applicant No. 10</td> <td>72.00</td> <td>12.00</td> <td></td> </tr> <tr> <td>12.</td> <td>ICICI Bank Ltd. (ICICI)<br/>*Loan assigned to EDELWEISS<br/>Applicant No. 2</td> <td>25</td> <td>25</td> <td></td> </tr> <tr> <td>13.</td> <td>Bank Maharashtra (BOM)<br/>Applicant No. 12</td> <td>36</td> <td>6.00</td> <td></td> </tr> <tr> <td>14.</td> <td>EXIM Bank (EXIM)<br/>Applicant No. 13</td> <td>56.00</td> <td>00.</td> <td></td> </tr> <tr> <td></td> <td><b>Grand Total</b></td> <td></td> <td></td> <td><b>1473.40</b></td> </tr> </table>

\*Amounts in Crore

\*Excluding the Term Loans given under Consortium and outside the Consortium.

\*NFB limits of Rs.18.20 crore were granted where as it was incorporated as Rs.15.00 crore in consortium documents.

Security documents for Rs.18.20 crore were executed by Defendants in August 2012 as described in preceding paras.

It is stated in the OA that other than the hypothecating the fixed and the moveable assets of Defendant No.1 for securing the above mentioned limits, some additional securities in form of Personal Guarantees, Corporate Guarantees and Immovable properties were also furnished. The details of all the securities furnished by the defendants for securing the above mentioned/sanctioned limits have been given in Para 5(5.76) of the OA.

In order to avail the said facilities the defendants had submitted and executed various documents including the loaning and security document in favour of the Applicants as mentioned above being member of Consortium. Vide these documents the facilities availed by the defendants were acknowledged with an undertaking to repay the same with the interest charged thereon, to fulfil the terms and conditions as enumerated in the sanction letters of member Banks and further securities in favour of the said applicants were created to secure the monies lent by them. The documents which were submitted and executed were as follows:-

- (a) Board resolution of M/s. Hanung Toys and Textile Ltd. dated 03.01.2013;

- (b) Board resolution of M/s. Hanung Processor Private Ltd. dated 03.01.2013;

- (c) Board resolution of M/s. Praneet Softech Private Ltd. dated 03.01.2013;

- (d) Board resolution of M/s. Sankalpa Overseas Private Ltd. dated 03.01.2013;

- (e) Board resolution of M/s. Hanung Furnishing Private Ltd. dated 03.01.2013;

- (f) Board resolution of M/s. C. K Software Private Ltd. dated 03.01.2013;

- (g) Board resolution of M/s. Abhinav International Private Ltd. dated 03.01.2013;

- (h) Working capital Consortium Agreement dated 16.01.2013;

- (i) Joint Deed of Hypothecation dated 16.01.2013;

- (j) Letter of nomination nominating and appointing Applicant No. 1, PNB as Lead Bank;

- (k) Letter for creation of charge dated 16.01.2013;

- (l) Agreement of Guarantee for Rs. 1473.40 Crore by Mr. Ashok Kumar Bansal dated 16.01.2013;

- (m) Agreement of Guarantee for Rs. 1473.40 Crore by Mrs. Anju Bansal dated 16.01.2013;

- (n) Agreement of Guarantee for Rs. 1473.40 Crore by Ashok Kumar Bansal (HUF) dated 16.01.2013;

- (o) Agreement of Guarantee for Rs. 1473.40 Crore by M/s. Hanung Processor Private Ltd. dated 16.01.2013;

- (p) Agreement of Guarantee for Rs. 1473.40 Crore by M/s. Hanung Furnishing Private Ltd. dated 16.01.2013;

- (q) Agreement of Guarantee for Rs. 1473.40 Crore by M/s. Praneet Softech Private Ltd. dated 16.01.2013;

- (r) Agreement of Guarantee for Rs. 1473.40 Crore by M/s. Sankalpa Overseas Private Ltd. dated 16.01.2013;

- (s) Agreement of Guarantee for Rs. 1473.40 Crore by M/s. C. K Software Private Ltd. dated 16.01.2013;

- (t) Agreement of Guarantee for Rs. 1473.40 Crore by M/s. Abhinav International Private Ltd. dated 16.01.2013;

- (u) Confirmation of deposit of title deed for Property located at plot no. 108-109,110 and 125 NSEZ, Noida, Uttar Pradesh owned by M/s. Hanung Toys and Textiles Limited dated 08.03.2013;

- (v) Confirmation of deposit of title deed for Property located at A-21. Hosiery complex, Phase II, Noida, owned M/s. Pranet Softech Private Limited dated 08.03.2013;

- (w) Confirmation of deposit of title deed for Property Located Block B-1, Sector 59, Phase III, NOIDA, District Gautam Budh Nagar, UP, owned by M/s, C. K. Software Private Limited dated 08.03.2013;

- (x) Confirmation of deposit of title deed for Property located at plot No-115, NSEZ, Noida, owned M/s. Hanung Furnishings Private Limited dated 08.03.2013;

- (y) Confirmation of deposit of title deed for Property located at B-7. Hosiery Complex, Phase-II, NOIDA, District Gautam Budh Nagar, UP owned M/s. Hanung Processors Private Limited dated 08.03.2013;

- (z) Confirmation of deposit of title deed for Property located at G-20, Sector-VI, NOIDA, UP owned M/s. Sankalp Overseas Private Limited dated 08.03.2013; (aa) Confirmation of deposit of title deed for Property located at E-93, Enclave 1, Second floor and Third Floor, Greater Kailash, New Delhi Mr. Ashok Kumar Bansal dated 08.03.2013; (bb) Confirmation of deposit of title deed for Property located at E-93, Enclave 1, Second floor and Third Floor, Greater Kailash, New Delhi Mrs. Anju Bansal dated 08.03.2013;

(cc) Confirmation of deposit of title deed for Property situated at village Lakeshari Pargana Bhagwanpur, Tehsil Roorkee. District Hardwar in the state of Uttarakhand owned by M/s. Hanung Toys and Textiles Limited dated 08.03.2013.

2.28 It is stated in the OA that the gist of the facilities which were enhanced/renewed on request of the Defendants by the member (existing and new members) of the Consortium in March 2013, were as follows:-

<thead> <tr> <th>SL. No</th> <th>Name of the Bank (Member)</th> <th>Fund based</th> <th>Term Loan</th> <th>Non-Fund based</th> </tr> </thead> <tbody> <tr> <td>1.</td> <td>Punjab National Bank (PNB)<br/>Applicant No. 1</td> <td>From 205<br/><br/>To 290</td> <td></td> <td>From 140<br/><br/>To 190</td> </tr> <tr> <td>2.</td> <td>State Bank of India (SBI)<br/>*Loan assigned to EDELWEISS<br/>Applicant No. 2</td> <td>From 45<br/><br/>To 56</td> <td></td> <td>From 00<br/><br/>To 05</td> </tr> <tr> <td>3.</td> <td>Syndicate Bank (SB)<br/>Applicant No. 3</td> <td>From 50<br/><br/>To 70</td> <td></td> <td>From 10<br/><br/>To 15</td> </tr> </tbody> </table>

<tr> <td>4.</td> <td>Oriental Bank of Commerce (OBC)<br/>Applicant No. 4</td> <td>From<br/>70<br/><br/>To<br/>100</td> <td></td> <td>From<br/>27<br/><br/>To<br/>30</td> </tr> <tr> <td>5.</td> <td>Bank of Baroda (BOB)<br/>Applicant Bank No.5</td> <td>From<br/>70<br/><br/>To<br/>92</td> <td></td> <td>From<br/>50<br/><br/>To<br/>50</td> </tr> <tr> <td>6.</td> <td>Bank of India(BOI)<br/>Applicant No. 6</td> <td>From<br/>63<br/><br/>To<br/>90</td> <td></td> <td>From<br/>29<br/><br/>To<br/>35</td> </tr> <tr> <td>7.</td> <td>Central Bank of India (CBI)<br/>Applicant No. 7</td> <td>From<br/>67.20<br/><br/>To<br/>67.20</td> <td>From<br/>115.00<br/><br/>To<br/>115.00</td> <td>From<br/>18.20<br/><br/>To<br/>18.20</td> </tr> <tr> <td>8.</td> <td>Allahabad Bank of India (ALB)<br/>*Loan assigned to EDELWEISS<br/>Applicant No. 2</td> <td>From<br/>70<br/><br/>To<br/>100</td> <td></td> <td>From<br/>40<br/><br/>To<br/>50</td> </tr> <tr> <td>9.</td> <td>Andhra (AB) Bank<br/>Applicant No. 9</td> <td>From<br/>30<br/><br/>To<br/>36</td> <td></td> <td>From<br/>10<br/><br/>To<br/>12</td> </tr> <tr> <td>10.</td> <td>United Commercial Bank (UCO)<br/>Applicant No. 10</td> <td>From<br/>60<br/><br/>To<br/>70</td> <td></td> <td>From<br/>05<br/><br/>To<br/>11</td> </tr> <tr> <td>11.</td> <td>Karur Vyasa Bank (KVS)<br/>Applicant No. 11</td> <td>From<br/>00<br/><br/>To<br/>40</td> <td></td> <td>From<br/>00<br/><br/>To<br/>05</td> </tr> <tr> <td>12.</td> <td>Bank Maharashtra (BOM)<br/>Applicant No. 12</td> <td>From<br/>30<br/><br/>To<br/>40</td> <td></td> <td>From<br/>05<br/><br/>To<br/>05</td> </tr> <tr> <td>13.</td> <td>EXIM BANK (EXIM)<br/>Applicant No. 13</td> <td>From<br/>56<br/><br/>To</td> <td></td> <td>From<br/>00<br/><br/>To</td> </tr> </table>

<tr> <td></td> <td></td> <td>56</td> <td></td> <td>00</td> </tr> <tr> <td>14.</td> <td>Corporation Bank (CB)<br/>Applicant No. 14</td> <td>From<br/>00<br/><br/>To<br/>25</td> <td></td> <td>From<br/>00<br/><br/>To<br/>25</td> </tr> <tr> <td>15.</td> <td>Union Bank of India<br/>(UBI)<br/>Performa Defendant<br/>No. 11</td> <td>From<br/>49<br/><br/>To<br/>70</td> <td></td> <td>From<br/>18<br/><br/>To<br/>25</td> </tr> <tr> <td>16.</td> <td>ICICI Bank Ltd.<br/>(ICICI)<br/>Performa Defendant<br/>No. 12<br/>Loan assigned to<br/>EDELWEISS<br/>Applicant No. 2</td> <td>From<br/>21<br/><br/>To<br/>21</td> <td></td> <td>From<br/>21<br/><br/>To<br/>21</td> </tr> <tr> <td></td> <td><b>Grand Total</b></td> <td><b>1225</b></td> <td></td> <td><b>497</b></td> </tr> </table>

\*Amounts in Crore

2.29 Thereafter in the May 2013, on request Defendants/Borrower and after considering the information and the documents put forth by the defendants the limits were enhanced/renewed by Applicant No.1 PNB and the same were as follows:-

<thead> <tr> <th>SL. No</th> <th>Name of the Bank (Member)</th> <th>Fund based</th> <th>Term Loan</th> <th>Non-Fund based</th> <th>Total</th> </tr> </thead> <tbody> <tr> <td>1.</td> <td>Punjab National Bank (PNB)<br/>Applicant No. 1</td> <td>245.00<br/>+<br/>29.00</td> <td>10.99<br/>+<br/>60.32</td> <td></td> <td>220.00</td> </tr> </tbody> </table>

It is stated in the OA that other than the hypothecating the fixed and the moveable assets of Defendant No.1 for securing the above mentioned limits, some additional securities in form of Personal Guarantees, Corporate Guarantees and Immovable properties were also furnished. The details of all the securities furnished by the defendants for securing the above mentioned/sanctioned limits have been given in Para 5(5.80) of the OA.

Further, in order to avail above mentioned said facilities the defendants had submitted and executed various documents including the loaning and security document in favour of the Applicant Bank No 1. Vide these documents the facilities availed by the defendants were acknowledged with an undertaking to repay the same with the interest charged thereon, to fulfill the terms and conditions as enumerated in the sanction letter dated 29.06.2013 and further securities in favour of the Applicant Bank No.1 was created to secure the monies lent by them. The documents which were submitted and executed were as follows:-

- (a) Duly acknowledged sanction letter dated 09.05.2013;

- (b) Agreement for Hypothecation of Current Assets dated 09.05.2013;

- (c) Agreement for Hypothecation of Moveable Assets forming part of fixed/block assets dated 09.05.2013;

- (d) Agreement for Hypothecation of Good and Book Debt dated 09.05.2013;

- (e) Agreement for Hypothecation for securing Packing Cash Credit facility dated 09.05.2013;

- (f) Agreement for limits within PC Limit dated 09.05.2013;

- (g) Supplementary Agreement dated 09.05.2013 for 545.31 Crore;

- (h) Deed of Hypothecation to secure LC on DA/DP basis dated 09.05.2013; 

- (i) General Indemnity dated 09.05.2013 for Rs. 108.00 Crore;

- (j) General Counter Indemnity dated 09.05.2013 for Rs. 3.20 Crore;

- (k) Confirmation all of all the limits from all guarantors dated 09.05.2013;

- (l) Agreement of Guarantee for Rs. 545.31 Crore by Mr. Ashok Kumar Bansal dated 09.05.2013;

- (m) Agreement of Guarantee for Rs. 545.31 Crore by Mrs. Anju Bansal dated 09.05.2013;

- (n) Agreement of Guarantee for Rs. 545.31 Crore by M/s. Hanung Processor Private Ltd. dated 09.05.2013;

- (o) Agreement of Guarantee for Rs. 545.31 Crore by M/s. Hanung Furnishing Private Ltd. dated 09.05.2013;

- (p) Agreement of Guarantee for Rs. 545.31 Crore by M/s. Praneet Softech Private Ltd. dated 09.05.2013;

- (q) Agreement of Guarantee for Rs. 545.31 Crore by M/s. Sankalpa Overseas Private Ltd. dated 09.05.2013;

- (r) Agreement of Guarantee for Rs. 545.31 Crore by M/s. C. K Software Private Ltd. dated 09.05.2013;

- (s) Agreement of Guarantee for Rs. 545.31 Crore by M/s Abhinav International Private Ltd. dated 09.05.2013;

- (t) Confirmation of deposit of title deed for Property located at plot no. 108-109,110 and 125 NSEZ, Noida, Uttar Pradesh owned by M/s. Hanung Toys and Textiles Limited dated 10.05.2013;

- (u) Confirmation of deposit of title deed for Property located at A-21. Hosiery complex, Phase II, Noida, owned M/s. Praneet Softech Private Limited dated 10.05.2013;

- (v) Confirmation of deposit of title deed for Property Located Block B-1, Sector 59, Phase III, NOIDA, District Gautam Budh Nagar, UP, owned by M/s. C. K. Software Private Limited dated 10.05.2013;

- (w) Confirmation of deposit of title deed for Property located at plot No-115, NSEZ, Noida, owned M/s. Hanung Furnishings Private Limited dated 10.05.2013;

- (x) Confirmation of deposit of title deed for Property located at B-7. Hosiery Complex, Phase-II, NOIDA, District Gautam Budh Nagar, UP owned M/s. Hanung Processors Private Limited dated 10.05.2013;

- (y) Confirmation of deposit of title deed for Property located at G-20, Sector-VI, NOIDA, UP owned M/s. Sankalp Overseas Private Limited dated 10.05.2013;

- (z) Confirmation of deposit of title deed for Property located at E-93. Enclave 1, Second floor and Third Floor, Greater Kailash, New Delhi Mr. Ashok Kumar Bansal dated 10.05.2013;

- (aa) Confirmation of deposit of title deed for Property located at E-93, Enclave 1, Second floor and Third Floor, Greater Kailash, New Delhi Mrs. Anju Bansal dated 10.05.2013;

- (bb) Confirmation of deposit of title deed for Property situated at village Lakeshari Pargana 

Bhagwanpur, Tehsil Roorkee, District Hardwar in the state of Uttarakhand owned by M/s. Hanung Toys and Textiles Limited dated 10.05.2013;

- (cc) Confirmation of deposit of title deed for Property situated at village Lakeshari Pargana Bhagwanpur, Tehsil Roorkee, District Hardwar in the state of Uttarakhand owned by M/s. Hanung Toys and Textiles Limited dated 10.05.2013;

- (dd) Agreement of Guarantee for Rs. 545.31 Crore by Mr. Ashok Kumar Bansal (HUF) dated 09.05.2013.

2.30 Thereafter in the June 2013, on request Defendants/Borrower and after considering the information and the documents put forth by the defendants the full interchangeability of limits amongst fund and Non fund-based was allowed by Applicant No.1 PNB and at that time the limits were as follows:-

<thead> <tr> <th>SL. No</th> <th>Name of the Bank (Member)</th> <th>Fund based</th> <th>Term Loan</th> <th>Non-Fund based</th> <th>Total</th> </tr> </thead> <tbody> <tr> <td>1.</td> <td>Punjab National Bank (PNB)<br/>Applicant No. 1</td> <td>246.00<br/>+<br/>29.00</td> <td>10.99<br/>+<br/>60.32</td> <td>220.00</td> <td></td> </tr> </tbody> </table>

It is stated in the OA that other than the hypothecating the fixed and the moveable assets of Defendant No.1 for securing the above mentioned limits, some additional securities in form of Personal Guarantees, Corporate Guarantees and Immovable properties were also furnished. The details of all the securities furnished by the defendants for securing the above mentioned/sanctioned limits have been given in Para 5(5.83) of the OA.

Further, in order to avail above mentioned said facilities the defendants had submitted and executed various documents including the loaning and security document in favour of the Applicant Bank No 1. Vide these documents the facilities availed by the defendants were acknowledged with an undertaking to repay the same with the interest charged thereon, to fulfill the terms and conditions as enumerated in the sanction letter dated 09.05.2013 and further securities in favour of the Applicant Bank No.1 was created to secure the monies lent by them. The documents which were submitted and executed were as follows:-

- (a) Duly acknowledged sanction letter dated 29.06.2013;

- (b) Board resolution of M/s. Hanung Toys and Textile Ltd. dated 29.06.2013;

- (c) Board resolution of M/s. Hanung Processor Private Ltd. dated 29.06.2013;

- (d) Board resolution of M/s. Praneet Softech Private Ltd. dated 20.06.2013;

- (e) Board resolution of M/s. Sankalpa Overseas Private Ltd. dated 29.06.2013;

- (f) Board resolution of M/s. Hanung Furnishing Private Ltd. dated 29.06.2013;

- (g) Board resolution of M/s. C. K Software Private Ltd. dated 29.06.2013;

- (h) Board resolution of M/s. Abhinav International Private Ltd. dated 29.06.2013;

- (i) Agreement for Hypothecation of Current Assets dated 29.06.2013;

- (j) Agreement for Hypothecation of Moveable Assets forming part of fixed/block assets dated 29.06.2013;

- (k) Agreement for Hypothecation of Good and Book Debt dated 29.06.2013;

- (l) Agreement for Hypothecation for securing Packing Cash Credit facility dated 29.06.2013;

- (m) Agreement for limits within PC Limit dated 29.06.2013;

- (n) Supplementary Agreement dated 29.06.2013 for Rs. 545.31 Crore;

- (o) Deed of Hypothecation to secure LC on DA/DP basis dated 29.06.2013;

- (p) General Counter Indemnity dated 29.06.2013;

- (q) General Indemnity dated 29.06.2013;

- (r) Agreement of Guarantee for Rs. 545.31 Crore by Mr. Ashok Kumar Bansal dated 29.06.2013;

- (s) Agreement of Guarantee for Rs. 545.31 Crore by Mrs. Anju Bansal dated 29.06.2013;

- (t) Agreement of Guarantee for Rs. 545.31 Crore by Ashok Kumar Bansal (HUF) dated 29.06.2013;

- (u) Agreement of Guarantee for Rs. 545.31 Crore by M/s. Hanung Processor Private Ltd. dated 29.06.2013;

- (v) Agreement of Guarantee for Rs. 545.31 Crore by M/s. Hanung Furnishing Private Ltd. dated 29.06.2013;

- (w) Agreement of Guarantee for Rs. 545.31 Crore by M/s. Praneet Softech Private Ltd. dated 29.06.2013;

- (x) Agreement of Guarantee for Rs. 545.31 Crore by M/s. Sankalpa Overseas Private Ltd. dated 29.06.2013;

- (y) Agreement of Guarantee for Rs. 545.31 Crore by M/s. C. K Software Private Ltd. dated 29.06.2013;

- (z) Agreement of Guarantee for Rs. 545.31 Crore by M/s Abhinav International Private Ltd. dated 29.06.2013;

- (aa) Confirmation of deposit of title deed for Property located at plot no. 108-109,110 and 125 NSEZ, Noida, Uttar Pradesh owned by M/s. Hanung Toys and Textiles Limited dated 02.07.2013;

- (bb) Confirmation of deposit of title deed for Property located at A-21, Hosiery complex, Phase II, Noida, owned M/s. Praneet Softech Private Limited dated 02.07.2013,;

- (cc) Confirmation of deposit of title deed for Property located at G-20, Sector-VI, NOIDA, UP owned M/s. Sankalp Overseas Private Limited dated 02.07.2013;

- (dd) Confirmation of deposit of title deed for Property located at E-93, Enclave 1, Second floor and Third Floor, Greater Kailash. New Delhi Mr. Ashok Kumar Bansal 02.07.2013;

- (ee) Confirmation of deposit of title deed for Property located at E- 93. Enclave 1, Second floor and Third Floor, Greater Kailash, New Delhi Mrs. Anju Bansal dated 02.07.2013;

- (ff) Confirmation of deposit of title deed for Property situated at village Lakeshari Pargana Bhagwanpur. Tehsil Roorkee, District Hardwar in the state of Uttarakhand owned by M/s. Hanung Toys and Textiles Limited dated 02.07.2013;

- (gg) Confirmation of deposit of title deed for Property situated at village Lakeshari Pargana Bhagwanpur, Tehsil Roorkee, District Hardwar in the state of Uttarakhand owned by M/s. Hanung Toys and Textiles Limited dated 02.07.2013;

- (hh) Confirmation of deposit of title deed for Property Located Block B-1, Sector 59, Phase III, NOIDA, District Gautam Budh Nagar, UP, owned by M/s. C. K. Software Private Limited dated 02.07.2013;

- (ii) Confirmation of deposit of title deed for Property located at plot No-115, NSEZ, Noida, owned M/s. Hanung Furnishings Private Limited dated 02.07.2013;

- (jj) Confirmation of deposit of title deed for Property located at B-7, Hosiery Complex, Phase-II, NOIDA, District Gautam Budh Nagar, UP owned M/s. Hanung Processors Private Limited dated 02.07.2013.

2.31 It is stated in the OA that the Defendant No. 1 Company could not control its operations, which ultimately effected the functioning and thus, the company started committing default in paying the monthly installments to the Consortium. The account of Defendant No. 1 Company became highly overdue, therefore Defendant No. 1 Company made a proposal and requested for Corporate Debt Restructuring to the CDR Cell with its proposal and for this purpose the Defendant No.1/ Borrower Company had also submitted an undertaking-cum-acknowledgement by the way of an affidavit giving the details of the various facilities availed by the Defendant No.1/ Borrower Company and the securities furnished/hypothecated and mortgaged by it for securing the various credit facilities, the proposal of the Defendant No.1/Borrower Company for Corporate Debt Restructuring dated 30.07.2013 along with flash Report and Affidavit dated 13.09.2013. It will be pertinent to mention that with the request of the CDR the Defendant No.1 Company had introduced certain new guarantors, out of which one is Defendant No.11 M/s. Glofin Investment and Finance Co. Pvt. Ltd.

2.32 It is further stated in the OA that in the year 2013, on request Defendants/Borrower requested Applicant No.11 (KVB) for restructuring its account and after considering the information and the documents put forth by the defendants the full interchangeability of limits amongst fund and Non fund-based was allowed by Applicant No.11 (KVB).

It is also stated that other than the hypothecating the fixed and the moveable assets of Defendant No.1 for securing the above mentioned limits, some additional securities in form of Personal Guarantees, Corporate Guarantees and Immovable properties were also furnished. The details of all the securities furnished by the defendants for securing the above mentioned/sanctioned limits have been given in Para 5(5.87) of the OA.

Moreover, in order to avail above mentioned said facilities the defendants had submitted and executed various

documents including the loaning and security document in favour of the Applicant Bank No 11. Vide these documents the facilities availed by the defendants were acknowledged with an undertaking to repay the same with the interest charged thereon, to fulfill the terms and conditions as enumerated in the sanction letter dated and further securities in favour of the Applicant Bank No.11 was created to secure the monies lent by them. The documents which were submitted and executed are as follows:-

- (a) Duly acknowledged sanction letter dated 16.09.2013;

- (b) Board resolution of M/s. Hanung Toys and Textile Ltd. dated 17.09.2013;

- (c) Board resolution of M/s. Hanung Processor Private Ltd. dated 17.09.2013;

- (d) Board resolution of M/s. Praneet Softech Private Ltd. dated 17.09.2013;

- (e) Board resolution of M/s. Sankalpa Overseas Private Ltd dated 17.09.2013;

- (f) Board resolution of M/s. Hanung Furnishing Private Ltd. dated 17.09.2013;

- (g) Board resolution of M/s. C. K Software Private Ltd. dated 17.09.2013;

- (h) Board resolution of M/s. Abhinav International Private Ltd. dated 17.09.2013;

- (i) Agreement for interchange ability dated 17.09.2013.

2.33 It is stated in the OA that in September 2013 the defendants requested for restructuring of their limits and for the same executed various documents including the loaning and security document in favour of the Applicant Bank No 10. Vide these documents the facilities availed by the defendants were acknowledged with an undertaking to repay the same with the interest charged thereon, to fulfill the terms and conditions as enumerated in the sanction letters and further securities in favour of the Applicant Bank No.10 was created to secure the monies lent by them. The documents which were submitted and executed are as follows:-

- (a) Packing Credit Form dated 28.09.2013;

- (b) Demand Promissory Note dated 28.09.2013 for Rs. 50.39 Crore;

- (c) Document for Acknowledging the interest Component dated 28.09.2013;

- (d) Board resolution of M/s. Hanung Processor Private Ltd. dated 28.09.2013;

- (e) Board resolution of M/s. Pranet Softech Private Ltd. dated 28.09.2013;

- (f) Board resolution of M/s. Sankalpa Overseas Private Ltd. dated 28.09.2013;

- (g) Board resolution of M/s. Hanung Furnishing Private Ltd. dated 28.09.2013;

- (h) Board resolution of M/s. C. K Software Private Ltd. dated 28.09.2013;

- (i) Board resolution of M/s. Abhinav International Private Ltd. dated 28.09.2013;

- (j) Agreement of Guarantee for by Mr. Ashok Kumar Bansal dated 28.09.2013;

- (k) Agreement of Guarantee for by Mrs. Anju Bansal dated 28.09.2013; 

- (l) Agreement of Guarantee for by Ashok Kumar Bansal (HUF) dated 28.09.2013;

- (m) Agreement of Guarantee for by M/s. Hanung Processor Private Ltd. dated 28.09.2013;

- (n) Agreement of Guarantee for by M/s. Hanung Furnishing Private Ltd. dated 28.09.2013;

- (o) Agreement of Guarantee by M/s. Praneet Softtech Private Ltd. dated 28.09.2013;

- (p) Agreement of Guarantee by M/s. Sankalpa Overseas Private Ltd. dated 28.09.2013;

- (q) Agreement of Guarantee by M/s. C. K Software Private Ltd. dated 28.09.2013;

- (r) Agreement of Guarantee by M/s Abhinav International Private Ltd. dated 28.09.2013;

- (s) Agreement for extension of Charge by way of Hypothecation of Current Assets to secure Non Fund Based facilities dated 28.09.2013;

- (t) Agreement for Hypothecation to secure Cash Credit dated 28.09.2013;

- (u) Deed of Hypothecation of Movable Plant and Machinery dated 28.09.2013;

- (v) Hypothecation of Book Debts dated 28.09.2013;

- (w) Agreement of Term loan for 11.50 Crore dated 28.09.2013;

- (x) Agreement of Term loan for 27.57 Crore dated 28.09.2013;

- (y) Agreement of Term loan for 89.32 Crore dated 28.09.2013;

- (z) General undertaking by the M/s. Hanung Toys and Textile Ltd. dated 28.09.2013;

- (aa) Agreement for Inland/Foreign Bills dated 28.09.2013;

- (bb) Acknowledged sanction dated 28.09.2013.

2.34 As stated above, the borrower had requested for a CDR and submitted a proposal for the same, in furtherance to the submission of the CDR proposal by Defendant No.1 Company, the Corporate Debt Restructuring Cell vide its letter dated 16.06.2014 informed the Applicant Bank No. 1, the members of the Consortium and the Defendants that after considering the proposal of the Defendant No.1/Borrower Company for Corporate Debt Restructuring, the CDR Empowered Group at their meeting held on 23.05.2014 have approved the restructuring proposal CDR System.

Thereafter to restructure the account of Defendant No.1 Company through CDR mechanism and Master Restructuring Agreement dated 30.6.2014 was executed by and between the Applicants and Defendants.

In furtherance to the said Master Restructuring Agreement dated 30.6.2014 many documents were executed Defendants/Borrower to avail the said CDR scheme and to acknowledge their liability. During this period a new guarantor i.e. Defendant No.11 as stated above was introduced and the following documents were submitted/ executed by the said Guarantor -

- (a) Board resolution of M/s. Glofin Investment and Finance Co. Pvt. Ltd. dated 28.06.2014;

- (b) Board resolution of M/s. Glofin Investment and Finance Co. Pvt. Ltd. dated 24.07.2014;

- (c) Guarantee Deed of M/s. Glofin Investment and Finance Co. Pvt. Ltd. dated 04.08.2014;

- (d) Agreement of Guarantee by Mr. Ashok Kumar Bansal dated 04.08.2014;

- (e) Agreement of Guarantee by Mrs. Anju Bansal dated 04.08.2014;

- (f) Agreement of Guarantee by Ashok Kumar Bansal (HUF) dated 04.08.2014;

- (g) Agreement of Guarantee by M/s. Hanung Processor Private Ltd. dated 04.08.2014;

- (h) Agreement of Guarantee by M/s. Hanung Furnishing Private Ltd. dated 04.08.2014;

- (i) Agreement of Guarantee by M/s. Praneet Softech Private Ltd. dated 04.08.2014;

- (j) Agreement of Guarantee by M/s. Sankalpa Overseas Private Ltd. dated 04.08.2014;

- (k) Agreement of Guarantee by M/s. C. K Software Private Ltd. dated 04.08.2014;

- (l) Agreement of Guarantee by M/s. Abhinav International Private Ltd. dated 04.08.2014;

- (m) Agreement of Guarantee by M/s Hanung Retail Ltd. dated 04.08.2014;

- (n) Agreement of Guarantee by M/s Hanung Infra and Power Ltd. dated 04.08.2014;

- (o) TRA Agreement dated 28.06.2014;

- (p) Deed of Hypothecation dated 04.08.2014;

- (q) POA dated 19.08.2014;

- (r) Letter of Continuity by M/s. Praneet Softech Private Ltd. dated 19.08.2014;

- (s) Letter of Continuity by M/s. M/s. Sankalpa Overseas Private Ltd. dated 19.08.2014;

- (t) Letter of Continuity by M/s. C. K Software Private Ltd. dated 19.08.2014;

- (u) Letter of Continuity by Hanung Furnishing Private Ltd. dated 19.08.2014;

- (v) Index of Charges created by the Defendant No. 1 in favour of the Consortium which was duly registered with the Ministry of Corporate Affairs.

2.35 It is further stated in the OA that the Defendant No. 1 Company in terms of the facilities availed and the Master Restructuring Agreement in terms of CDR System undertook to repay each of the Fund/Non-fund/term loan amounts to the Applicant Banks and all other Banks in accordance with terms as stipulated in Master Restructuring Agreement under CDR Arrangement. It is pertinent to mention that since the CDR was approved the Applicants had restructured the account of the Defendant No.1 Company/Borrower had made an FITL Account (Funded Interest Term Loan) for all the unpaid/un-serviced interest.

2.36 However, in March, 2014 the defendants due to irregularity in the operations requested for restructuring of their limits and for the same executed various documents including the loaning and security document in favour of the Applicant Bank No 11. Vide these documents the facilities availed by the defendants were acknowledged with an undertaking to repay the same with the interest charged thereon, to fulfill the terms and conditions as enumerated in the sanction letters and further securities in favour of the Applicant Bank No.11 was created to secure the monies lent by them. The documents which were submitted and executed were as follows:-

- (a) Board resolution of M/s. Hanung Toys and Textile Ltd. dated 29.03.2014;

- (b) Board resolution of M/s. Hanung Processor Private Ltd. dated 29.03.2014;

- (c) Board resolution of M/s. Praneet Softech Private Ltd. dated 29.03.2014;

- (d) Board resolution of M/s. Sankalpa Overseas Private Ltd. dated 29.03.2014;

- (e) Board resolution of M/s. Hanung Furnishing Private Ltd. dated 29.03.2014;

- (f) Board resolution of M/s. C. K Software Private Ltd. dated 29.03.2014;

- (g) Board resolution of M/s. Abhinav International Private Ltd dated 29.03.2014;

- (h) Board resolution of M/s. Hanung Retail Ltd dated 29.03.2014;

- (i) Board resolution of M/s. Hanung Power and Infra Ltd dated 29.03.2014;

- (j) Board resolution of M/s, Glofin Investments and finance Co. Private Ltd dated 29.03.2014;

- (k) Credit facility Agreement dated 29.03.2014;

- (l) Declaration from Guarantors dated 29.03.2014;

- (m) Supplementary Agreement dated 29.03.2014;

- (n) Agreement of Guarantee for by Mr. Ashok Kumar Bansal, Anju Bansal and Ashok Kumar Bansal (HUF) dated 29.03.2014;

- (o) Agreement of Guarantee by M/s. Hanung Processor Private Ltd. dated 29.03.2014;

- (p) Agreement of Guarantee by M/s. Hanung Furnishing Private Ltd. dated 29.03.2014;

- (q) Agreement of Guarantee by M/s. Praneet Softech Private Ltd. dated 29.03.2014;

- (r) Agreement of Guarantee by M/s. Sankalpa Overseas Private Ltd. dated 29.03.2014;

- (s) Agreement of Guarantee by M/s. C. K Software Private Ltd. dated 29.03.2014;

- (t) Agreement of Guarantee by M/s Abhinav International Private Ltd dated 29.03.2014;

- (u) Agreement of Guarantee by M/s. Hanung Retail Ltd dated 29.03.2014;

- (v) Agreement of Guarantee by M/s. Hanung Power and Infra Ltd dated 29.03.2014;

- (w) Agreement of Guarantee by M/s. Glofin Investments and Finance Co. Private Ltd dated 29.03.2014;

- (x) Acknowledged Copy of Sanction dated 29.03.2014.

2.37 It is stated in the OA that once again the Borrowers/Defendants started committing default in abiding with terms as stipulated in Master Restructuring Agreement under CDR Arrangement. Thereafter, a number of requests were made to the Defendants to abide by the terms and condition of the Master Restructuring Agreement and to fulfill the same but all the efforts of the members of CDR went in vain, the Defendants only gave fake assurances and misleading commitments which could never be met with.

Hence, having left with no option the members of CDR had to revoke the CDR package extended to the Defendants and the same was revoked in the month of June, 2015. After revocation of the CDR also requests were made to the Defendants to pay of the over dues of the Consortium but the same had no effect on the Defendants. However by this time, the Applicant Banks had already given the FITL facility in terms of the CDR package, thus, the said FITL account continues to be a part of the borrower account's with the Applicants. Thereafter, Applicant Banks and the Performa Defendant Banks declared the Account of Defendant No.1/Borrower Company as Non Performing Asset in accordance with their respective internal guidelines which are in consonance with guidelines issued by Reserve Bank of India and further issued a notice under section 13(2) of SARFEASI Act. The dates on which the said events occurred as follows:-

<thead> <tr> <th>NAME OF BANK</th> <th>DATE OF NPA</th> <th>DATE OF ISSUING OF 13 (2) NOTICE</th> <th>AMOUNT IN 13(2) NOTICE, AS ON</th> </tr> </thead> <tbody> <tr> <td>Punjab National Bank</td> <td>31.12.2013</td> <td>12.10.2015</td> <td>712.96<br/>on 30.09.2015</td> </tr> <tr> <td>Andhra Bank</td> <td>30.06.2013</td> <td>15.10.2015</td> <td>62.40<br/>on 30.09.2015</td> </tr> <tr> <td>Edelweiss ARC<br/>(Assignee by<br/>Allahabad Bank)</td> <td>31.03.2015</td> <td>05.11.2015</td> <td>238.32<br/>on 30.09.2015</td> </tr> <tr> <td>Bank of Baroda</td> <td>31.03.2015</td> <td>17.11.2015</td> <td>180.57<br/>On 17.11.2015</td> </tr> <tr> <td>Bank of India</td> <td>31.03.2015</td> <td>27.11.2015</td> <td>169.59<br/>On 27.11.2015</td> </tr> <tr> <td>Bank of Maharashtra</td> <td>30.09.2013</td> <td>07.11.2015</td> <td>47.28<br/>on 30.09.2015</td> </tr> <tr> <td>Central Bank of India</td> <td>19.08.2013</td> <td>17.10.2015</td> <td>275.66<br/>on 16.10.2015</td> </tr> </tbody> </table>

<tr> <td>Edelweiss ARC<br/>(Assignee by SBI)</td> <td>29.07.2013</td> <td>05.11.2015</td> <td>183.74<br/>on 30.09.2015</td> </tr> <tr> <td>EXIM Bank</td> <td>30.11.2014</td> <td>18.12.2015</td> <td>74.27<br/>on 01.12.2015</td> </tr> <tr> <td>Karnataka Bank</td> <td>29.07.2015</td> <td>30.10.2015</td> <td>38.59<br/>on 29.10.2015</td> </tr> <tr> <td>Karur Vysya Bank</td> <td>14.10.2015</td> <td>05.11.2015</td> <td>39.63<br/>on 31.10.2015</td> </tr> <tr> <td>Oriental Bank of<br/>Commerce</td> <td>31.03.2014</td> <td>24.11.2015</td> <td>173.09<br/>on 31.10.2015</td> </tr> <tr> <td>Syndicate Bank</td> <td>31.08.2015</td> <td>05.11.2015</td> <td>137.8<br/>on<br/>31.10.2015</td> </tr> <tr> <td>UCO Bank</td> <td>01.04.2013</td> <td>21.10.2015</td> <td>97.12<br/>on 31.03.2015</td> </tr> </table>

2.38 It is also stated in the OA that the defendants had raised objection u/s of SARFAESI Act, 2002 against the notice issued by the Applicant Bank u/s 13(2) of SARFAESI Act and the same were duly replied to and rejected by the Applicant vide their replies. It is further pertinent to mention that the Applicants are also proceeding under the SARFAESI Act, 2002. The dates on which the said above mention events of issuing of notices, receiving of objection and sending of replies to the same occurred are as follows:

<thead> <tr> <th>NAME OF BANK</th> <th>DATE OF<br/>ISSUING<br/>OF 13(2)<br/>NOTICE</th> <th>DATE OF<br/>RECEIVING<br/>OBJECTIONS</th> <th>DATE OF<br/>REPLYING<br/>TO<br/>OBJECTIONS</th> </tr> </thead> <tbody> <tr> <td>Punjab National<br/>Bank</td> <td>12.10.2015</td> <td>17.12.2015</td> <td>22.12.2015</td> </tr> <tr> <td>Andhra Bank</td> <td>15.10.2015</td> <td>19.12.2015</td> <td>--</td> </tr> <tr> <td>Edelweiss ARC<br/>(Assignee by<br/>Allahabad Bank)</td> <td>05.11.2015</td> <td>--</td> <td>--</td> </tr> <tr> <td>Bank of Baroda</td> <td>17.11.2015</td> <td>--</td> <td>--</td> </tr> <tr> <td>Bank of India</td> <td>27.11.2015</td> <td>--</td> <td>--</td> </tr> <tr> <td>Bank of<br/>Maharashtra</td> <td>07.11.2015</td> <td>--</td> <td>--</td> </tr> <tr> <td>Central Bank of<br/>India</td> <td>17.10.2015</td> <td>15.12.2015</td> <td>30.12.2015</td> </tr> <tr> <td>Edelweiss ARC</td> <td>05.11.2015</td> <td>--</td> <td>--</td> </tr> </tbody> </table>

<tr> <td>(Assignee by SBI)</td> <td></td> <td></td> <td></td> </tr> <tr> <td>EXIM Bank</td> <td>18.12.2015</td> <td>--</td> <td>--</td> </tr> <tr> <td>Karnataka Bank</td> <td>30.10.2015</td> <td>--</td> <td>--</td> </tr> <tr> <td>Karur Vysya Bank</td> <td>05.11.2015</td> <td>13.01.2016</td> <td></td> </tr> <tr> <td>Oriental Bank of Commerce</td> <td>24.11.2015</td> <td>--</td> <td>--</td> </tr> <tr> <td>Syndicate Bank</td> <td>05.11.2015</td> <td>14.01.2016</td> <td>--</td> </tr> <tr> <td>UCO Bank</td> <td>21.10.2015</td> <td>17.12.2015</td> <td>--</td> </tr> </table>

2.39 As stated above that the Edelweiss Asset Reconstruction Co. Ltd. / Applicant No. 2 herein has taken over the debt(s) of State Bank of India and Allahabad Bank, vide Assignment deeds dated 11.08.2014 by and between Edelweiss Asset Reconstruction Co. and State Bank of India AND vide Assignment deeds dated 29.06.2015 by and between Edelweiss Asset Reconstruction Co. Ltd and Allahabad Bank.

2.40 It is further stated that the Defendants / Borrowers had created equitable Mortgage of the aforementioned properties to secure the above mentioned limits sanctioned by the Consortium Banks, the last Memorandum of entry was executed by the Defendants on 17.09.2013. Further, the exact details for the mortgaged properties along with the title deed deposited by the said Defendants/ Borrower have been given in Para 5(5.100) (A) to (H) of OA.

2.41 It is also stated in the OA that the defendant no. 1 was availing the facilities at different rates from the members of the Consortium in terms of the sanction that was duly accepted by the defendants. Further more, all the Applicant Banks maintain regular books of accounts in their ordinary and usual course of banking business and those books of accounts are still kept under the care and custody of the Applicants Banks No. 1 to 13. The Applicant Banks No. 1

to 13 are filing the statement of accounts certified as per Banker's Books of Evidence Act, 1893 and is admissible in evidence. The outstanding amount due and recoverable by the Applicants are as under:-

<thead> <tr> <th><b>BANK</b></th> <th><b>O/S AMOUNT DUE<br/>AS ON 31.12.2015</b></th> </tr> </thead> <tbody> <tr> <td>Applicant Bank No. 1 (PNB)</td> <td>771,65,23,591.96</td> </tr> <tr> <td>Applicant Bank No. 2 (Edelweiss)</td> <td>437,46,35,491.73</td> </tr> <tr> <td>Applicant Bank No. 3 (SB)</td> <td>140,97,23,212.58</td> </tr> <tr> <td>Applicant Bank No. 4 (OBC)</td> <td>177,43,93,338.00</td> </tr> <tr> <td>Applicant Bank No. 5 (BOB)</td> <td>207,99,16,736.00</td> </tr> <tr> <td>Applicant Bank No. 6 (BOI)</td> <td>174,40,12,349.13</td> </tr> <tr> <td>Applicant Bank No. 7 (CBI)</td> <td>283,84,44,381.00</td> </tr> <tr> <td>Applicant Bank No. 8 (KBL)</td> <td>41,34,00,167.00</td> </tr> <tr> <td>Applicant Bank No. 9 (AB)</td> <td>63,53,96,201.60</td> </tr> <tr> <td>Applicant Bank No. 10 (UCO)</td> <td>117,09,50,322.60</td> </tr> <tr> <td>Applicant Bank No. 11 (KVB)</td> <td>41,19,26,467.51</td> </tr> <tr> <td>Applicant Bank No. 12 (BOM)</td> <td>48,44,66,757.00</td> </tr> <tr> <td>Applicant Bank No. 13 (EB)</td> <td>74,26,60,013.00</td> </tr> <tr> <td><b>TOTAL</b></td> <td><b>2,579,64,49,029.11</b></td> </tr> <tr> <td>Applicant Bank No. 2 (Edelweiss)<br/>Loan assigned by ICICI Bank</td> <td><b>130,75,30,407.69</b></td> </tr> <tr> <td><b>TOTAL</b></td> <td><b>2710,39,79,436.80</b></td> </tr> <tr> <td><b>After amendment in OA</b></td> <td></td> </tr> </tbody> </table>

It is stated in the OA that the defendants failed to maintain financial discipline and adhere to the terms and conditions of the Sanction Letters and various loan documents signed accepted and acknowledged by them from time to time. It is also evident that the defendants have defaulted in payment of the amount outstanding which is reflected in the Statement of Accounts of the defendants maintained by the Applicant Banks. Accordingly, the Applicant Banks are entitled to charge rate of interest as agreed between the parties at the rate of 2% per annum on the sanctioned facilities until repayment. It is further stated that the interest has been charged in the account at the rates as per 

the documents duly executed in favour of the Applicant Banks and in accordance with the guidelines of the RBI. Since the transaction is purely commercial in nature, therefore, the Applicant Banks are entitled to pendent lite and future interest on the contractual rates along with other costs and charges so incurred by the Applicant Bank till realization of its dues. Moreover, the interest applied by the Applicant Banks is strictly in conformity and in accordance with the RBI guidelines and internal norms/ policies of Applicant Banks and do not run counter to the same.

2.42 It is stated in the OA that since the defendants have failed and neglected to pay the dues of the applicant banks, hence, the Applicant Banks have been compelled to file this Application before this Tribunal.

3. Notices of this O.A. were issued to the defendants and defendants no. 1 to 3 filed their common WS. It is important to note here that defendant no. 1 has also filed the Counter Claim through Sh. Ashok Kumar Bansal / Managing Director of defendant no. 1 herein.

3.1 So far as, defendants no. 4 to 13 are concerned, though some of the defendants appeared through counsel but they did not chose to file their WS. Moreover, they stopped entering before the Tribunal, hence the case was directed to proceed ex parte qua defendants no. 4 to 13 vide order dated 09.01.2024 of this Tribunal.

3.2 So far as, defendants no. 14 & 15 are concerned, they are performa defendants and no relief has been claimed by the applicant banks qua these defendants.

3.3 It is also pertinent to note here that during the pendency of this OA, IA no. 358/2017 was filed on behalf of applicant no. 2 herein i.e. Edelweiss Asset Reconstruction Company Limited for amendment of its outstanding to be recovered from the defendants. It is matter of record that the defendant no. 15 i.e. ICICI Bank had assigned its debts in favour of Applicant no. 2 i.e. Edelweiss Asset Reconstruction Co. Ltd. vide Deed of Assignment dated 29.06.2016 and vide order dated 21.07.2017 passed in IA No. 358/2017 by the Tribunal, applicant no. 2 was allowed to enhance its claim in the OA. Consequently, amended OA was filed and the amount due to applicant no. 2 (with regard to erstwhile ICICI Bank) i.e. Rs. 130,75,30,407.69 has also been added in claimed amount of applicant no. 2 in the amended OA.

Though defendants no. 1 to 3 had filed their common WS to the original OA, however, vide order dated 07.03.2018 of this Tribunal, right of defendants to file their WS to the amended OA. On the same day, Ld. counsel for the defendants had opted that the WS to the original OA may be treated as WS to amended OA as well which was allowed by the Tribunal. In these circumstances, the WS filed by defendants no. 1 to 3 shall be considered as WS to amended OA as well.

4. In their WS, Defendants no. 1 to 3 have stated that Sh. Ashok Kumar Bansal, Director of defendant no. 1 is a law abiding citizen and defendant no. 1 company is a company incorporated under the Companies Act, 1956. It is further stated that Sh. Ashok Kumar Bansal is one of the Director of defendant no. 1 company who has been authorized by the Board vide Resolution dated 14.11.2016 to engage advocates, sign and verify pleadings and institute the defence proceedings. Moreover, the defendant company is listed with Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) which is carrying out its manufacturing activities with approximately 300 workers. On or about 1998, the defendant company approached the applicant for financial assistance for business and applicant no. 1 is the leader of consortium since 2002. It is also stated that in order to secure the alleged Credit Facility and Working Capital Facility, the defendant allegedly created mortgage / hypothecated the properties [details given in Para 6 of preliminary objections / submissions]. It is stated in the WS that contrary to the sanctions agreed to be granted to the defendant, the applicant have not disbursed the amounts in terms of sanction letter resulting in financial difficulties, inadequate working capital and non-execution of orders. Hence, on the advice of lead bank (applicant bank no. 1), the defendant company was compelled to make a proposal for restructuring of the alleged debt under the Corporate Debt Restructuring (CDR) mechanism. Said proposal was referred to CDR Cell on 30.07.2013 and vide its communication dated 16.06.2014, CDR Cell informed the defendant company that a Final Restructuring Package was approved by CDR Empowered Group (EG) on 23.05.2014.


Consequently, a Master Restructuring Agreement was executed between the Defendant and applicant banks, PNB being the lead bank. Moreover, defendants and the applicant banks also executed the Debtor – Creditor Agreement. Further, applicant banks among themselves also executed an Inter Se Agreement. But due to complete non-cooperation of the applicant, the CDR Package approved in favour of the defendant company could not be implemented. It is also stated that the CDR Cell unilaterally vide its communication dated 01.10.2015 arbitrarily decided to withdraw / exit the defendant company from the CDR mechanism. It is stated that since the Empowered Group of CDR vide its letter dated 01.10.2015 decided to withdraw / exit of defendant company, hence, the account cannot be declared NPA before 90-days from 01.01.2016 i.e. before 31.03.2016 as the CDR was withdrawal in the third quarter of financial year i.e. 01.10.2015, hence, the applicant banks were duty bound to wait till the next quarter i.e. from 01.01.2016 to 31.03.2016 to declare the account NPA. Therefore, the declaration of account as NPA from 01.04.2016 is against the RBI guidelines.

It is stated in the WS that after the grant of CDR vide sanction letter dated 16.06.2014, the defendant herein, brought the investor namely 'Channel Capital' to fulfil the condition to make available a sum of Rs.80.0 crore, which was a condition, the defendant was supposed to fulfil. Moreover, the banks were directed to provide the additional working capital limit arrived by member banks amounting to Rs.132.0 crore in the year 2014 and Rs.62.85 crore in

2015. These figures have been mentioned in sanction letter itself and the defendants have relied upon sanction letter dated 09.05.2013 of PNB renewing and enhancing the credit facility of defendant; sanction letter dated 27.06.2007 by ICICI bank sanctioning the Working Capital facility to defendant; sanction letter dated 23.08.2007 by SBI sanctioning enhancement in working capital limits; sanction letter dated 17.11.2007 by Syndicate Bank sanctioning enhancement of credit facilities and sanction letter dated 02.12.2008 by PNB sanctioning enhancement of credit facilities.

It is stated that on 18.07.2014 the defendant arranged a meeting of investor with the lead bank i.e. PNB. Moreover, defendant also wrote a letter dated 11.09.2014 to PNB seeking certain clarifications with regard to investor and investment of Rs. 83.0 crore. On 17.10.2014, the investor brought by the defendant showed his positive intention to invest a sum of Rs. 80.0 crore and investor had the approval from its board. Defendant wrote a letter dated 28.10.2014 to PNB intimating the points of discussion relating to Investors Approval of approx. USD 12 million investments (INR 83 Cr.). However, in November 2014, the PNB with consortium members refused to accept the offer made by investor. Though the investor granted a 30 days' timeline to the defendants but due to refusal to accept the offer, the said 30 days timeline was expired. Thereafter, the defendant brought second investor who was willing to invest Rs. 80.0 crore but the lead bank PNB suggested the defendant to get back the first investor. Hence, defendant herein again arranged a meeting between the first investor and lead bank PNB on 11.05.2015 which was successful and minutes of meeting were circulated to all 16 banks. The investor also sent a letter of intent dated 02.06.2015 and it is at the stage when many consortium member banks started sending recall notices in June 2015 itself. A comprehensive chart showing the details of notice under Section 13(2) of the SARFAESI Act by PNB and all 16 other member banks depicting the infirmities and illegalities has been filed with the WS. Moreover, the notice to the guarantors dated 03.07.2015 issued by Union Bank of India is also annexed with the WS.

It is also stated that one of the other directions given by the CDR was to open a separate FITL Account and transfer the overdue interest to FITL, accordingly, the defendants herein opened a separate FITL account. The defendant was supposed to pay the interest on the FITL amount, hence, the defendant was continuously paying the interest on FITL accounts. Thus, this Tribunal can safely reach to a conclusion that all 16-banks were earning from the assets of the defendant and the account cannot be technically classified as NPA.

Moreover, all the actions taken by the applicant like declaration of account as NPA, non compliance of Section 13(3A) of SARFAESI Act by some banks, issuing consent letters to proceed against the defendant into Section 13(4) of SARFAESI Act before expiry of statutory period of 60-days under Section 13(2) shows the premature decision by the banks and pre-determined action against the defendant which resulted in CDR failure and has caused huge losses to the Defendant. It is stated in the WS that it is admitted position that all 16 banks /applicant wrongly and malafidely refused to comply with the conditions imposed upon them by the CDR sanction letter. The applicant were directed by CDR to refund an amount of Rs. 80.0 crore being the excess amount of interest charged on the outstanding loans but the banks never complied with it. Hence, defendant herein again moved an application with the CDR committee and again a clarification was issued by the CDR with direction to refund a sum of Rs. 80.0 crore but none of the banks complied with the same. There was another direction by the CDR that the consortium of the banks has to make available funds to the company equivalent to Rs. 132.0 crore being the difference between Maximum Permissible Bank Finance (MPBF) and actual working capital enjoyed by the defendant company. In this regard, letter dated 16.10.2014 by defendant to CDR requesting refund of excess interest charged after cutoff for serving FITL interest, govt. dues and salary etc. and letter dated 22.10.2014 by CDR conveying their decision to refund and amount of Rs. 80.0 crore have been annexed with the WS.

It is stated in the WS that it is crystal clear from the RBI guidelines dated 29.10.2008 that the derivative contracts which were entered into between defendant and applicant in the year 2007-2008 are against the said guidelines and have debited the accounts of the client pertaining to working capital limits to square off losses arising out of derivative transactions. The defendant has been repeatedly writing letters to the banks requesting them not to debit its working capital to book Derivative profits, but the banks paid no heed, because the same is against RBI guidelines.

Moreover, at no point of time, the banks have cautioned the Defendant about the pitfalls of the derivative transactions. In fact, as per RBI guidelines dated 20.04.2007 and another guideline dated 29.10.2008, they were duty bound to advise the clients to exercise caution regarding derivative transactions. It is also stated that the guidelines dated 20.04.2007 were reviewed and revised vide RBI guidelines dated 02.08.2011.

It is stated in the WS that applicant banks have booked / squared off derivative losses suffered by the defendant to the tune of a whopping sum of Rs. 323.0 crore from the working capital of the defendant. The said loss to the defendant was a profit to the banks and the said profit was squared off by the banks from the working capital limits of the defendant. This was in gross violation of the Apex body i.e. RBI guidelines. In this regard a year wise chart showing the admitted position to demonstrate the above facts is attached with the OA.

Moreover, defendants have also filed details of the derivatives pertaining to PNB, SBI, ICICI Bank and Syndicate Bank along with the WS.

It is also stated that a Public Interest Litigation was filed before Hon'ble High Court of Orissa in *Pravanjan Patra V. Republic of India and Ors.* [109 (2010) CLT 817] seeking direction to order for a CBI probe on the issue of Forex Derivatives. The Hon'ble High Court after realizing a high possibility of an immense financial scam and fraud ordered preliminary inquiry to be conducted by CBI and RBI on all such transactions. Now the said matter is pending before Hon'ble Supreme Court.

It is further stated that since the accumulated losses of defendant company increased and on or about December, 2014, the defendant was compelled to file a Reference under Section 15(1) of the Sick Industrial Corporation (Special Provisions) Act, 1985 for seeking determination of measures to be adopted for revival and rehabilitation of the defendant no. 1 company. The BIFR has admitted the Reference of the Defendant Company being Reference N. 54/2015 and the same is pending before BIFR for determination of sickness. In this copy of BIFR order dated 15.04.2015 has been filed with the WS.

On 24.09.2015, the aforesaid Reference was listed and BIFR vide order dated 24.09.2015 issued directions upon the Defendant Company to serve a copy of the Form – A upon all the parties and directed that objections, if any to the sickness of Defendant company be filed by the concerned parties within four weeks.

Further, the defendant after receiving the alleged notices u/s 13(2) of SARFAESI Act, the defendants through its counsel raised the objections u/s 13(3A) and some of the banks have not relied to the same. Therefore, subsequent actions u/s 13(4) and 14 are void ab initio. Copy of Notice u/s 13(2) and objections u/s 13(3A) as well as reply by the applicant banks to the objections are also annexed with the WS.

It is also stated that the Possession Notice dated 16.03.2016 & 29.03.2016 have not been issued according to the procedure laid down in the Security Interest Rules 2002.

It is further stated that the defendants have incurred following losses which are attributable to the applicants as enumerated above :- (a) Details of Derivative Losses to the defendant company due to the fraudulent activities and cheating by the four Consortium Member Banks :-

<table> <tr> <td>PNB</td> <td>50.62 crore</td> </tr> <tr> <td>ICICI Bank</td> <td>76.89 crore</td> </tr> <tr> <td>Syndicate Bank</td> <td>9.72 crore</td> </tr> <tr> <td>SBI</td> <td>199.46 crore</td> </tr> </table>

**Total 336.69 crore**

(b) Details of interest charged by Banks on it :- <table> <tr> <td>PNB</td> <td>38.84 crore</td> </tr> <tr> <td>ICICI Bank</td> <td>100.02 crore</td> </tr> <tr> <td>Syndicate Bank</td> <td>10.40 crore</td> </tr> <tr> <td>SBI</td> <td>212.82 crore</td> </tr> </table>

**Total 302.08 crore**

(c) That in November 2010, the market value of the defendant company on the Indian Stock Exchange (NSE) was very high and the price of each share of the defendant company was more than Rs. 400/- for each share whereas today i.e. December 2016, the price of each share of the defendant company is just Rs. 5/- So the total market cap at that i.e. in the year 2010 was more than Rs. 1000/- crore, whereas, presently, as on today market cap is just Rs. 15/- crore. So the losses to the defendant company are to the tune of Rs. 985 crore.

It is pertinent to note here that along with the WS, in support of the counter claim, the defendants and counter claimant have relied on the following documents filed with the WS :-

(i) Board Resolution dated 14.11.2016 of defendant no. 1 authorizing Sh. Ashok Kumar Bansal (Annexure -1);

- (ii) copy of proposal for restricting the alleged debt under the CDR mechanism made by defendant company (Annexure – 2);

- (iii) Letter of Approval dated 16.06.2014 by CDR (Annexure – 3);

- (iv) Master Restructuring Agreement was executed between the Defendant and applicant banks, PNB being the lead bank (Annexure -4);

- (v) Debtor – Creditor Agreement executed between the defendants and applicant banks (Annexure – 5);

- (vi) Inter Se Agreement executed amongst applicant banks (Annexure -6);

- (vii) Communication dated 01.10.2015 of CDR Cell withdrawing / exiting the defendant company from the CDR mechanism (Annexure – 7);

- (viii) various correspondence of defendant company with the Investor 'Channel Capital' (Annexure -8-colly);

- (ix) Sanction letter dated 09.05.2013 of PNB (Annexure – 9);

- (x) Sanction letter dated 27.06.2007 by ICICI bank (Annexure – 10);

- (xi) Sanction letter dated 23.08.2007 by SBI (Annexure – 11);

- (xii) Sanction letter dated 17.11.2007 (Annexure – 12);

- (xiii) Sanction letter dated 02.12.2008 by PNB (Annexure – 13);

- (xiv) Minutes of meeting 18.07.2014 held by the defendant of the investor with the lead bank i.e. PNB (Annexure – 14);

- (xv) Defendant's letter dated 11.09.2014 to PNB seeking certain clarifications with regard to investor and investment of Rs. 83.0 crore (Annexure – 15);

- (xvi) Letter of Intent dated 17.10.2014 of the investor (Annexure – 16);

- (xvii) Defendant's letter dated 28.10.2014 to PNB initiating the points of discussion relating to Investors Approval of approx. USD 12 million investments (INR 83 Cr.) (Annexure – 17);

- (xviii) Minutes of meeting held on 11.05.2015 arranged by the defendant between the first investor and PNB (Annexure – 18);

- (xix) Letter of Intent dated 02.06.2015 sent by investor (Annexure – 19);

- (xx) Chart showing the details of notice under Section 13(2) of the SARFAESI Act by PNB and all 16 other member banks (Annexure -20);

- (xxi) Notice to the guarantors dated 03.07.2015 issued by Union Bank of India (Annexure – 21);

- (xxii) Terms and conditions of FITL and the bank statement of FITL account (Annexure -22-colly);

- (xxiii) Letter dated 16.10.2014 by defendant to CDR (Annexure – 23);

- (xxiv) Letter dated 22.10.2014 by CDR to the defendant conveying their decision to refund and amount of Rs. 80.0 crore (Annexure – 24);

- (xxv) RBI guidelines dated 29.10.2008, 20.04.2007, 02.08.2011 (Annexure - 25 to 27 respectively);

- (xxvi) A year wise chart (Annexure – 28);

- (xxvii) Details of the derivatives pertaining to PNB, SBI, ICICI Bank and Syndicate Bank (Annexure 29 to 32 respectively);

- (xxviii) copy or order passed by Hon'ble High Court of Orissa in *Pravanjan Patra Vs. Republic of India and Ors. [109(2010) CLT 817]* (Annexure – 33);

- (xxix) copy of BIFR order dated 15.04.2015 (Annexure – 34); 

- (xxx) copy of proceedings recorded in order dated 24.09.2015 of BIFR (Annexure – 35);

- (xxxii)copy of Notice u/s 13(2) sent by all the applicant banks (Annexure – 36-colly);

- (xxxiii) objections u/s 13(3A) of 13(2) notice (Annexure – 37-colly);

- (xxxiiii) copy of reply by the applicant banks to objections raised by the defendant u/s 13(3A) of SARFAESI Act (Annexure – 38-colly);

- (xl) Possession Notice dated 16.03.2019 and 29.03.2016 (Annexure – 39-colly); In their WS, defendants no. 1 to 3 have raised following main objections:-

- (i) that various payments have been made to the applicant and the same has not been properly credited thereof. The statement of account filed along with the OA does not depict the true and correct picture. Moreover, same is not in accordance with the provisions as laid down in the Bankers Books of Evidence Act. It is also stated that the applicants have not placed on record the complete statement of accounts in pursuance to the judgment passed by Hon'ble Apex Court in *Ravindra Vs. Central Bank of India*;

- (ii) that the applicant's officials had got from the answering defendants certain unfiled / blank proformas signed in blank by exercising misrepresentation, commercial duress and coercion and without even giving an opportunity to read or understand the nature and contents of the said papers got signed in blank, hence, the said documents filed and relied by the applicants cannot be allowed to be received in evidence;

(iii) that the loaning documents relied upon by the applicant in support of its alleged claim are unstamped / under-stamped, therefore, by virtue of Sections 33 and 35 of the Indian Stamp Act, 1899, the same are liable to be impounded and are incapable of reception in evidence;

(iv) that the security interest created in favour of applicants by the defendants has not been registered with the Central Registry which is in violation of Section 26-D of the SARFAESI Act;

(v) that this OA has not been instituted by the authorized officials of applicant banks.

4.1. So far as, Counter Claim filed by defendant no. 1 company is concerned, applicant of counter claim / defendant no. 1 has reiterated the averments made in the OA and has raised following counter claim against the losses suffered by it due to the illegal and fraudulent actions of the respondent banks :- (a) Details of Derivative Losses to the Applicant Company :- <table> <tbody> <tr> <td>PNB</td> <td>50.62 crore</td> </tr> <tr> <td>Edelweiss Bank</td> <td>199.46 crore</td> </tr> <tr> <td>Syndicate Bank</td> <td>9.72 crore</td> </tr> <tr> <td><b>Total</b></td> <td><b>259.80 crore</b></td> </tr> </tbody> </table>

(b) Details of interest charged by Banks on it :- <table> <tbody> <tr> <td>PNB</td> <td>38.84 crore</td> </tr> <tr> <td>Edelweiss Bank</td> <td>212.82 crore</td> </tr> <tr> <td>Syndicate Bank</td> <td>10.40 crore</td> </tr> <tr> <td><b>Total</b></td> <td><b>262.06 crore</b></td> </tr> </tbody> </table>

**Hence a Total sum of Rs. 521.86 crore**

It is also stated that in support of the counter claim, the applicant and counter claimant rely on the documents filed with the WS and same are not being filed again for the sake of brevity in addition to one derivative contract executed between the applicant and respondent no. 1 bank / PNB.

In the light of above, it has been prayed to allow the Counter Claim and direct the respondents to pay the applicant a total sum of Rs. 521.86 crore and consequently pass a money decree for a sum of Rs. 521.86 crore along with interest @18% p.a.

5. Rejoinder to the WS of defendants no. 1 to 3 has also been filed by the applicant bank denying the allegations levelled against them and reiterating the averments made in the OA.

6. Moreover, Reply to the Counter Claim has also been filed by the applicant bank vehemently opposing the same.

7. To prove their case, the Applicant Bank no. 1 / PNB (being lead bank of Consortium) leads their evidence by filing affidavits of Sh. Sudarshan Narayan Sayay, Chief Manager. It is pertinent to note here that applicant no. 1 bank has filed the documents on behalf of all the consortium members.

Moreover, Applicant no. 2 (Edelweiss Reconstruction Company Ltd.); Applicant no. 5 (BOB); Applicant no. 6 (BOI); Applicant no. 7 (CBI); Applicant no. 8 (Karnataka Bank), Applicant no. 10 (UCO Bank) and Applicant no. 11 (Karur Vyasya Bank) have also led their evidence by way of filing the respective affidavits of their officials namely Ms.


Aditi Singh, Law Associate; Mr. Saneh Deep Chopra Assistant General Manager; Mr. A.K. Pahwa, Senior Manager; Mr. V.V. Natarajan, Assistant General Manager; Mr. Ajith KR, Chief Manager; Mr. G.L. Gupta, Assistant General Manager and Mr. Jai Prakash Agiwal, Chief Manager respectively.

7.1 Sh. Sudarshan Narayan Sahay, Officer of Applicant Bank no. 1 (PNB) has placed reliance upon various documents (for consortium facilities) viz.:-

- (i) General Power of Attorney of applicant bank no. 1 in favour of the deponent (Ex.-1);

- (ii) Inter-se-Agreement executed by Consortium of Bank (Ex. A-1);

- (iii) Board resolution of M/s. Hanung Toys and Textile Ltd. dated 27.11.2006 (Ex. A-2);

- (iv) Board resolution of M/s. Hanung Processor Private Ltd. dated 27.11.2006 (Ex. A-3);

- (v) Board resolution of M/s. Praneet Softtech Private Ltd. dated 27.11.2006 (Ex. A-4);

- (vi) Board resolution of M/s. Sankalpa Overseas Private Ltd. dated 27.11.2006 (Ex. A-5);

- (vii) Board resolution of M/s. Hanung Furnishing Private Ltd. dated 27.11.2006 (Ex. A-6);

- (viii) Board resolution of M/s. C. K Software Private Ltd. dated 27.11.2006 (Ex. A-7);

- (ix) Working capital Consortium Agreement dated 16.12.2006 (Ex. A-8);

- (x) Term Loan Agreement dated 16.12.2006 for Rs. 90.0 Crore (Ex. A-9);

- (xi) Letter of nomination nominating and appointing Applicant No. 1, PNB as Lead Bank (Ex. A-10);

- (xii) Letter of ceding for by Applicant No. 2 (SBI) and 3 (SB) (Ex. A-11);

- (xiii) Joint Deed of Hypothecation dated 16.12.2006 (Ex. A-12);

- (xiv) Agreement of Guarantee for Rs. 209.93 Crore by Mr. Ashok Kumar Bansal dated 16.12.2006 (Ex. A-13);

- (xv) Agreement of Guarantee for Rs. 209.93 Crore by Mrs. Anju Bansal dated 16.12.2006 (Ex. A-14);

- (xvi) Agreement of Guarantee for Rs. 209.93 Crore by Ashok Kumar Bansal (HUF) dated 16.12.2006 (Ex. A-15);

- (xvii) Agreement of Guarantee for Rs. 209.93 Crore by M/s. Hanung Processor Private Ltd. dated 16.12.2006 (Ex. A-16);

- (xviii) Agreement of Guarantee for Rs. 209.93 Crore by M/s. Hanung Furnishing Private Ltd. dated 16.12.2006 (Ex. A-17);

- (xix) Agreement of Guarantee for Rs. 209.93 Crore by M/s. Praneet Softech Private Ltd. dated 16.12.2006 (Ex. A-18);

- (xx) Agreement of Guarantee for Rs. 209.93 Crore by M/s. Sankalpa Overseas Private Ltd. dated 16.12.2006 (Ex. A-19);

- (xxi) Agreement of Guarantee for Rs. 209.93 Crore by M/s. C. K Software Private Ltd. dated 16.12.2006 (Ex. A-20);

- (xxii) Confirmation of deposit of title deed for Property located at plot no. 108-109,110 and 125 NSEZ, 

Noida, Uttar Pradesh owned by M/s. Hanung Toys and Textiles Limited dated 17.12.2006 (Ex. A-21);

(xxiii) Confirmation of deposit of title deed for Property located at A-21, Hosiery complex, Phase II, Noida, owned M/s. Pranet Softech Private Limited dated 17.12.2006 (Ex. A-22);

(xxiv) Confirmation of deposit of title deed for Property Located Block B-1, Sector 59, Phase III, NOIDA, District Gautam Budh Nagar, UP, owned by M/s. C. K. Software Private Limited dated 17.12.2006 (Ex. A-23);

(xxv) Confirmation of deposit of title deed for Property located at plot No-115, NSEZ, Noida, owned by M/s Hanung Furnishings Private Limited dated 17.12.2006 (Ex. A-24);

(xxvi) Confirmation of deposit of title deed for Property located at B-7, Hosiery Complex, Phase-II, NOIDA, District Gautam Budh Nagar, UP owned M/s. Hanung Processors Private Limited dated 17.12.2006 (Ex. A-25);

(xxvii) Confirmation of deposit of title deed for Property located at G-20, Sector-VI, NOIDA, UP owned M/s. Sankalp Overseas Private Limited dated 17.12.2006 (Ex. A-26);

(xxviii) Confirmation of deposit of title deed for Property located at E-93, Enclave 1, Second floor and Third Floor, Greater Kailash, New Delhi Mr. Ashok Kumar Bansal dated 17.12.2006 (Ex. A-27);

(xxix) Confirmation of deposit of title deed for Property located at E-93. Enclave 1, Second floor and Third Floor, Greater Kailash. New Delhi Mrs. Anju Bansal dated 17.12.2006 (Ex. A-28);

(xxx) Confirmation of deposit of title deed for Property situated at village Lakeshari Pargana Bhagwanpur, Tehsil Roorkee, District Hardwar in the state of Uttarakhand owned by M/s. Hanung Toys and Textiles Limited dated 20.06.2011 (Ex. A-29);

(xxxii) Inter-Se Agreement executed between consortium members (Ex. A-30);

(xxxii) Board resolution of M/s. Hanung Toys and Textile Ltd. dated 13.02.2008 (Ex. A-31);

(xxxiii) Board resolution of M/s. Hanung Processor Private Ltd. dated 13.02.2008 (Ex. A-32);

(xxxiv) Board resolution of M/s. Pranet Softtech Private Ltd. dated 13.02.2008 (Ex. A-33);

(xxxv) Board resolution of M/s. Sankalpa Overseas Private Ltd. dated 13.02.2008 (Ex. A-34);

(xxxvi) Board resolution of M/s. Hanung Furnishing Private Ltd. dated 13.02.2008 (Ex. A-35);

(xxxvii) Board resolution of Ms. C. K Software Private Ltd. dated 13.02.2008 (Ex. A-36); (xxxviii) Working capital Consortium Agreement dated 18.03.2008 (Ex. A-37);

(xxxix) Joint Agreement for documentary credit dated 18.03.2008 for Rs. 94.40 Crore (Ex. A-38);

(xl) Joint Deed of Hypothecation dated 18.03.2008 for Rs. 369.39 Crore (Ex. A-39);

(xli) Letter of nomination nominating and appointing Applicant No. 1. PNB as Lead Bank (Ex. A-40);

(xlii) Agreement of Guarantee for Rs. 369.39 Crore by Mr. Ashok Kumar Bansal dated 18.03.2008 (Ex. A-41);

(xliii) Agreement of Guarantee for Rs. 369.39 Crore by Mrs. Anju Bansal dated 18.03.2008 (Ex. A-42);

- (xliv) Agreement of Guarantee for Rs. 369.39 Crore by Ashok Kumar Bansal (HUF) dated 18.03.2008 (Ex. A-43);

- (xlv) Confirmation of deposit of title deed for Property situated at village Lakeshari Pargana Bhagwanpur. Tehsil Roorkee, District Hardwar in the state of Uttarakhand owned by M/s. Hanung Toys and Textiles Limited dated 19.03.2008 (Ex. A-44);

- (xlvi) Agreement of Guarantee for Rs. 369.39 Crore by M/s. Hanung Processor Private Ltd. dated 18.03.2008 (Ex. A-45);

- (xlvii) Agreement of Guarantee for Rs. 369.39 Crore by Ms. Haming Furnishing Private Ltd dated 18.03.2008 (Ex. A-46);

- (xlviii) Agreement of Guarantee for Rs. 369.39 Crore by M/s. Praneet Softech Private Ltd. dated 18.03.2008 (Ex. A-47);

- (xlix) Agreement of Guarantee for Rs. 369.39 Crore by M/s. Sankalpa Overseas Private Ltd. dated 18.03.2008 (Ex. A-48);

- (l) Agreement of Guarantee for Rs. 369.39 Crore by M/s. C. K Software Private Ltd. dated 18.03.2008 (Ex. A-49);

- (li) Confirmation of deposit of title deed for Property located at plot no. 108-109,110 and 125 NSEZ, Noida, Uttar Pradesh owned by M/s. Hanung Toys and Textiles Limited dated 19.03.2008 (Ex. A-50);

- (lii) Confirmation of deposit of title deed for Property located at A-21, Hosiery complex, Phase II, Noida, owned M/s. Praneet Softech Private Limited dated 19.03.2008 (Ex. A-51);

- (liii) Confirmation of deposit of title deed for Property Located Block B-1, Sector 59, Phase III, NOIDA, District Gautam Budh Nagar, UP, owned by M/s. C. K. Software Private Limited dated 19.03.2008 (Ex. A-52);

- (liv) Confirmation of deposit of title deed for Property located at plot No-115, NSEZ, Noida, owned M/s. Hanung Furnishings Private Limited dated 19.03.2008 (Ex. A-53);

- (lv) Confirmation of deposit of title deed for Property located at B-7. Hosiery Complex, Phase-11, NOIDA, District Gautam Budh Nagar. UP owned M/s. Hanung Processors Private Limited dated 19.03.2008 (Ex. A-54);

- (lvi) Confirmation of deposit of title deed for Property located at G-20, Sector-VI, NOIDA, UP owned M/s. Sankalp Overseas Private Limited dated 19.03.2008 (Ex. A-55);

- (lvii) Confirmation of deposit of title deed for Property located at E-93, Enclave 1, Second floor and Third Floor, Greater Kailash, New Delhi Mr. Ashok Kumar Bansal dated 19.03.2008 (Ex. A-56);

- (lviii) Confirmation of deposit of title deed for Property located at E-93, Enclave 1, Second floor and Third Floor, Greater Kailash, New Delhi Mrs. Anju Bansal dated 19.03.2008 (Ex. A-57);

- (liix) Confirmation of deposit of title deed for Property situated at village Lakeshari Pargana Bhagwanpur, Tehsil Roorkee, District Hardwar in the state of Uttarakhand owned by M/s. Hanung Toys and Textiles Limited dated 19.03.2008 for Rs. 369.39 Lakh (Ex. A-58);

- (lxx) Inter-se Agreement dated 18.06.2011 executed by member Banks of Consortium (Ex. A-59);

- (lxi) Working capital Consortium Agreement dated 18.06.2011 (Ex. A-60);

- (lxii) Joint Deed of Hypothecation dated 18.06.2011 for Rs. 916.60 (Ex. A-61);

- (lxiii) Letter of nomination nominating and appointing Applicant No. 1, PNB as Lead Bank (Ex. A-62);

- (lxiv) Letter for creation of charge dated 18.06.2011 (Ex. A-63);

- (lxv) Agreement of Guarantee for Rs. 916.60 Crore by Mr. Ashok Kumar Bansal dated 18.06.2011 (Ex. A-64);

- (lxvi) Agreement of Guarantee for Rs. 916.60 Crore by Ashok Kumar Bansal (HUF) dated 18.06.2011 (Ex. A-65 & A-66);

- (lxvii) Agreement of Guarantee for Rs. 916.60 Crore by M/s. Hanung Processor Private Ltd. dated 18.06.2011 (Ex. A-67);

- (lxviii) Agreement of Guarantee for Rs. 916.60 Crore by M/s. Hanung Furnishing Private Ltd. dated 18.06.2011 (Ex. A-68);

- (lxix) Agreement of Guarantee for Rs. 916.60 Crore by M/s. Praneet Softech Private Ltd. dated 18.06.2011 (Ex. A-69);

- (lxx) Agreement of Guarantee for Rs. 916.60 Crore by M/s. Sankalpa Overseas Private Ltd. dated 18.06.2011 (Ex. A-70);

- (lxxi) Agreement of Guarantee for Rs. 916.60 Crore by M/s. C. K Software Private Ltd. dated 18.06.2011 (Ex. A-71 & A-72);

- (lxxii) Confirmation of deposit of title deed for Property located at plot no. 108-109,110 and 125 NSEZ, Noida, Uttar Pradesh owned by M/s. Hanung Toys and Textiles Limited dated 20.06.2011 (Ex. A-73 & A-74);

(lxxiii) Confirmation of deposit of title deed for Property located at A-21, Hosiery complex, Phase II, Noida, owned M/s. Pranet Softech Private Limited dated 20.06.2011 (Ex. A-75);

(lxxiv) Confirmation of deposit of title deed for Property Located Block B-1, Sector 59, Phase III, NOIDA, District Gautam Budh Nagar, UP, owned by M/s. C. K. Software Private Limited dated 20.06.2011 (Ex. A-76);

(lxxv) Confirmation of deposit of title deed for Property located at plot No-115, NSEZ, Noida, owned M/s. Hanung Furnishings Private Limited dated 20.06.2011 (Ex. A-77);

(lxxvi) Confirmation of deposit of title deed for Property located at B-7. Hosiery Complex, Phase-II, NOIDA, District Gautam Budh Nagar, UP owned M/s. Hanung Processors Private Limited dated 20.06.2011 (Ex. A-78);

(lxxvii) Confirmation of deposit of title deed for Property located at G-20, Sector-VI, NOIDA, UP owned M/s. Sankalp Overseas Private Limited dated 20.06.2011 (Ex. A-79); (lxxviii) Confirmation of deposit of title deed for Property situated at village Lakeshari Pargana Bhagwanpur, Tehsil Roorkee, District Hardwar in the state of Uttarakhand owned by Ms. Hanung Toys and Textiles Limited dated 20.06.2011 (Ex. A-80);

(lxxix) Inter-se Agreement dated 09.01.2012 executed member Banks of Consortium (Ex. A-81);

(lxxx) Board resolution of M/s. Hanung Toys and Textile Ltd. dated 28.12.2011 (Ex. A-82);

(lxxxvi) Board resolution of M/s. Hanung Processor Private Ltd. dated 28.12.2011 (Ex. A-83); (lxxxvii) Board resolution of M/s. Praneet Softtech Private Ltd. dated 28.12.2011 (Ex. A-84); (lxxxviii) Board resolution of M/s. Sankalpa Overseas Private Ltd. dated 28.12.2011 (Ex. A-85);

(lxxxix) Board resolution of M/s. Hanung Furnishing Private Ltd. dated 28.12.2011 (Ex. A-86);

(lxxxx) Board resolution of M/s. C. K Software Private Ltd. dated 28.12.2011 (Ex. A-87);

(lxxxxi) Board resolution of M/s. Abhinav International Private Ltd. dated 28.12.2011 (Ex. A-88); (lxxxxii) Working capital Consortium Agreement dated 09.01.2012 (Ex. A-89); (lxxxxiii) Term Loan Agreement dated 09.01.2012 for Rs. 200.0 Crore (Ex. A-90); (lxxxxiv) Joint Deed of Hypothecation dated 09.01.2012 for Rs. 1306.60 Crore (Ex. A-91);

(xc) Letter of nomination nominating and appointing Applicant No. 1, PNB as Lead Bank (Ex. A-92);

(xci) Letter for creation of charge dated 09.01.2012 (Ex. A-93);

(xcii) Agreement of Guarantee for Rs. 1306.60 Crore by Mr. Ashok Kumar Bansal dated 09.01.2012 (Ex. A-94);

(xciii) Agreement of Guarantee for Rs. 1306.60 Crore by Mrs. Anju Bansal dated 09.01.2012 (Ex. A-95); 

- (xciv) Agreement of Guarantee for Rs. 1306.60 Crore by Ashok Kumar Bansal (HUF) dated 09.01.2012 (Ex. A-96);

- (xcv) Agreement of Guarantee for Rs. 1306.60 Crore by M/s. Hanung Processor Private Ltd. dated 09.01.2012 (Ex. A-97);

- (xcvi) Agreement of Guarantee for Rs. 1306.60 Crore by M/s. Hanung Furnishing Private Ltd. dated 09.01.2012 (Ex. A-98);

- (xcvii) Agreement of Guarantee for Rs. 1306.60 Crore by M/s. Praneet Softech Private Ltd. dated 09.01.2012 (Ex. A-99);

- (xcviii) Agreement of Guarantee for Rs. 1306.60 Crore by M/s. Sankalpa Overseas Private Ltd. dated 09.01.2012 (Ex. A-100);

- (xcix) Agreement of Guarantee for Rs. 1306.60 Crore by M/s. C. K Software Private Ltd. dated 09.01.2012 (Ex. A-101);

- (c) Agreement of Guarantee for Rs. 1306.60 Crore by M/s. Abhinave International Private Ltd. dated 09.01.2012 (Ex. A-102);

- (ci) Confirmation of deposit of title deed for Property located at plot no. 108-109,110 and 125 NSEZ, Noida, Uttar Pradesh owned by M/s. Hanung Toys and Textiles Limited dated 09.01.2012 (Ex. A-103);

- (cii) Confirmation of deposit of title deed for Property located at A-21, Hosiery complex, Phase II, Noida, owned M/s. Praneet Softech Private Limited dated 09.01.2012 (Ex. A-104);

- (ciii) Confirmation of deposit of title deed for Property Located Block B-1, Sector 59, Phase III, NOIDA, District Gautam Budh Nagar, UP, owned by M/s. C. K. Software Private Limited dated 09.01.2012 (Ex. A-105);

- (civ) Confirmation of deposit of title deed for Property located at plot No-115, NSEZ, Noida, owned M/s. Hanung Furnishings Private Limited dated 09.01.2012 (Ex. A-106);

- (cv) Confirmation of deposit of title deed for Property located at B-7, Hosiery Complex, Phase-II, NOIDA, District Gautam Budh Nagar, UP owned M/s. Hanung Processors Private Limited dated 09.01.2012 (Ex. A-107);

- (cvi) Confirmation of deposit of title deed for Property located at G-20, Sector-VI, NOIDA, UP owned M/s. Sankalp Overseas Private Limited dated 09.01.2012 (Ex. A-108);

- (cvii) Confirmation of deposit of title deed for Property located at E- 93, Enclave 1, Second floor and Third Floor, Greater Kailash, New Delhi Mr. Ashok Kumar Bansal dated 09.01.2012 (Ex. A-109);

- (cviii) Confirmation of deposit of title deed for Property located at E- 93, Enclave 1, Second floor and Third Floor, Greater Kailash, New Delhi Mrs. Anju Bansal dated 09.01.2012 (Ex. A-110);

- (cix) Confirmation of deposit of title deed for Property situated at village Lakeshari Pargana Bhagwanpur, Tehsil Roorkee, District Hardwar in the state of Uttarakhand owned by M/s. Hanung Toys and Textiles Limited dated 09.01.2012 (Ex. A-111);

- (cx) Confirmation of deposit of title deed for Property situated at village Lakeshari Pargana Bhagwanpur, Tehsil Roorkee, District Hardwar in the state of Uttarakhand owned by M/s. Hanung Toys and Textiles Limited dated 09.01.2012 (Ex. A-112);

- (cxi) Inter-se Agreement dated 16.01.2013 executed by member Banks of Consortium (Ex.A-113);

- (cxii) Board resolution of M/s. Hanung Toys and Textile Ltd. dated 03.01.2013 (Ex.A-114);

- (cxiii) Board resolution of M/s. Hanung Processor Private Ltd. dated 03.01.2013 (Ex.A-115);

- (cxiv) Board resolution of M/s. Pranet Softtech Private Ltd. dated 03.01.2013 (Ex.A-116);

- (cxv) Board resolution of M/s. Sankalpa Overseas Private Ltd. dated 03.01.2013 (Ex.A-117);

- (cxvi) Board resolution of M/s. Hanung Furnishing Private Ltd. dated 03.01.2013 (Ex.A-118);

- (cxvii) Board resolution of M/s. C. K Software Private Ltd. dated 03.01.2013 (Ex.A-119);

- (cxviii) Board resolution of M/s. Abhinav International Private Ltd. dated 03.01.2013 (Ex.A-120);

- (cxix) Working capital Consortium Agreement dated 16.01.2013 (Ex.A-121);

- (cxx) Joint Deed of Hypothecation dated 16.01.2013 (Ex.A-122);

- (cxxi) Letter of nomination nominating and appointing Applicant No. 1, PNB as Lead Bank (Ex.A-123);

- (cxxii) Letter for creation of charge dated 16.01.2013 (Ex.A-124);

- (cxxiii) Agreement of Guarantee for Rs. 1473.40 Crore by Mr. Ashok Kumar Bansal dated 16.01.2013 (Ex.A-125);

- (cxxiv) Agreement of Guarantee for Rs. 1473.40 Crore by Mrs. Anju Bansal dated 16.01.2013 (Ex.A-126);

- (cxxxv) Agreement of Guarantee for Rs. 1473.40 Crore by Ashok Kumar Bansal (HUF) dated 16.01.2013 (Ex.A-127);

- (cxxxvi) Agreement of Guarantee for Rs. 1473.40 Crore by M/s. Hanung Processor Private Ltd. dated 16.01.2013 (Ex.A-128);

- (cxxxvii) Agreement of Guarantee for Rs. 1473.40 Crore by M/s. Hanung Furnishing Private Ltd. dated 16.01.2013 (Ex.A-129);

- (cxxxviii) Agreement of Guarantee for Rs. 1473.40 Crore by M/s. Praneet Softech Private Ltd. dated 16.01.2013 (Ex.A-130);

- (cxxxix) Agreement of Guarantee for Rs. 1473.40 Crore by M/s. Sankalpa Overseas Private Ltd. dated 16.01.2013 (Ex.A-131);

- (cxxx) Agreement of Guarantee for Rs. 1473.40 Crore by M/s. C. K Software Private Ltd. dated 16.01.2013 (Ex.A-132);

- (cxxxxi) Agreement of Guarantee for Rs. 1473.40 Crore by M/s. Abhinav International Private Ltd. dated 16.01.2013 (Ex.A-133);

- (cxxxii) Confirmation of deposit of title deed for Property located at plot no. 108-109,110 and 125 NSEZ, Noida, Uttar Pradesh owned by M/s. Hanung Toys and Textiles Limited dated 08.03.2013 (Ex.A-134);

- (cxxxiii) Confirmation of deposit of title deed for Property located at A-21. Hosiery complex, Phase II, Noida, owned M/s. Praneet Softech Private Limited dated 08.03.2013 (Ex.A-135);

- (cxxxiv) Confirmation of deposit of title deed for Property Located Block B-1, Sector 59, Phase III, NOIDA, District Gautam Budh Nagar, UP, owned by M/s, C. K. Software Private Limited dated 08.03.2013 (Ex.A-136);

(cxxxv) Confirmation of deposit of title deed for Property located at plot No-115, NSEZ, Noida, owned M/s. Hanung Furnishings Private Limited dated 08.03.2013 (Ex.A-137);

(cxxxvi) Confirmation of deposit of title deed for Property located at B-7. Hosiery Complex, Phase-II, NOIDA, District Gautam Budh Nagar, UP owned M/s. Hanung Processors Private Limited dated 08.03.2013 (Ex.A-138); (cxxxvii) Confirmation of deposit of title deed for Property located at G-20, Sector-VI, NOIDA, UP owned M/s. Sankalp Overseas Private Limited dated 08.03.2013 (Ex.A-139); (cxxxviii) Confirmation of deposit of title deed for Property located at E-93, Enclave 1, Second floor and Third Floor, Greater Kailash, New Delhi Mr. Ashok Kumar Bansal dated 08.03.2013 (Ex.A-140);

(cxxxix) Confirmation of deposit of title deed for Property located at E-93, Enclave 1, Second floor and Third Floor, Greater Kailash, New Delhi Mrs. Anju Bansal dated 08.03.2013 (Ex.A-141);

(cxl) Confirmation of deposit of title deed for Property situated at village Lakeshari Pargana Bhagwanpur, Tehsil Roorkee. District Hardwar in the state of Uttarakhand owned by M/s. Hanung Toys and Textiles Limited dated 08.03.2013 (Ex.A-142);

(cxli) Proposal of the Defendant No.1/Borrower Company for Corporate Debt Restructuring dated 30.07.2013 along with flash Report and Affidavit dated 13.09.2013 (Ex. A-143-colly & A-144);

(cxlii) Letter dated 16.06.2014 of Corporate Debt Restructuring Cell to the Applicant Bank No. 1, the members of the Consortium and the Defendants

- informing them about approval of restructuring proposal (Ex. A-145);

- (cxliii) Master Restructuring Agreement dated 30.6.2014 executed by and between the Applicants and Defendants (Ex. A-146);

- (cxliv) Board resolution of M/s. Glofin Investment and Finance Co. Pvt. Ltd. dated 28.06.2014 (Ex. A-147);

- (cxlv) Board resolution of M/s. Glofin Investment and Finance Co. Pvt. Ltd. dated 24.07.2014 (Ex. A-148);

- (cxlvi) Guarantee Deed of M/s. Glofin Investment and Finance Co. Pvt. Ltd. dated 04.08.2014 (Ex. A-149);

- (cxlvii) Agreement of Guarantee by Mr. Ashok Kumar Bansal dated 04.08.2014 (Ex. A-150);

- (cxlviii) Agreement of Guarantee by Mrs. Anju Bansal dated 04.08.2014 (Ex. A-151);

- (cxlix) Agreement of Guarantee by Ashok Kumar Bansal (HUF) dated 04.08.2014 (Ex. A-152);

- (cl) Agreement of Guarantee by M/s. Hanung Processor Private Ltd. dated 04.08.2014 (Ex. A-153);

- (cli) Agreement of Guarantee by M/s. Hanung Furnishing Private Ltd. dated 04.08.2014 (Ex. A-154);

- (clii) Agreement of Guarantee by M/s. Praneet Softech Private Ltd. dated 04.08.2014 (Ex. A-155);

- (cliij) Agreement of Guarantee by M/s. Sankalpa Overseas Private Ltd. dated 04.08.2014 (Ex. A-156);

- (cliv) Agreement of Guarantee by M/s. C. K Software Private Ltd. dated 04.08.2014 (Ex. A-157);

- (clv) Agreement of Guarantee by M/s Abhinav International Private Ltd. dated 04.08.2014 (Ex. A-158);

- (clvi) Agreement of Guarantee by M/s Hanung Retail Ltd. dated 04.08.2014 (Ex. A-159);

- (clvii) Agreement of Guarantee by M/s Hanung Infra and Power Ltd. dated 04.08.2014 (Ex. A-160);

- (clviii) TRA Agreement dated 28.06.2014 (Ex. A-161);

- (clix) Deed of Hypothecation dated 04.08.2014 (Ex. A-162);

- (clx) POA dated 19.08.2014 (Ex. A-163);

- (clxi) Letter of Continuity by M/s. Pranet Softtech Private Ltd. dated 19.08.2014 (Ex. A-164);

- (clxii) Letter of Continuity by M/s. M/s. Sankalpa Overseas Private Ltd. dated 19.08.2014 (Ex. A-165);

- (clxiii) Letter of Continuity by M/s. C. K Software Private Ltd. dated 19.08.2014 (Ex. A-166);

- (clxiv) Letter of Continuity by Hanung Furnishing Private Ltd. dated 19.08.2014 (Ex. A-167);

- (clxv) Index of Charges created by the Defendant No. 1 in favour of the Consortium which was duly registered with the Ministry of Corporate Affairs (Ex. A-168);

- (clxvi) Last Memorandum of entry executed by the Defendants on 17.09.2013 with regard to mortgaged properties (Ex. A-169-colly).

For the facilities granted by PNB individually

- (clxvii) Letter dated 30.08.2011 by the Defendant No.1/Borrower accepting the terms and condition of sanction letter dated 25.08.2011 (Ex. B-1);

- (clxviii) Undertaking by dated 30.08.2011 by the Defendant No.1/Borrower (Ex. B-2);

- (clxix) Board resolution of M/s. Hanung Toys and Textile Ltd. dated 27.08.2011 (Ex. B-3);

- (clxx) Board resolution of M/s. Hanung Processor Private Ltd, dated 27.08.2011 (Ex. B-4);

- (clxxi) Board resolution of M/s. Pranet Softech Private Ltd. dated 27.08.2011 (Ex. B-5);

- (clxxii) Board resolution of M/s. Sankalpa Overseas Private Ltd. dated 27.08.2011 (Ex. B-6);

- (clxxiii) Board resolution of M/s. Hanung Furnishing Private Ltd. dated 27.08.2011 (Ex. B-7);

- (clxxiv) Board resolution of M/s. C. K Software Private Ltd. dated 27.08.2011 (Ex. B-8);

- (clxxv) Board resolution of M/s. Abhinav International Private Ltd. dated 27.08.2011 (Ex. B-9);

- (clxxvi) Accepted copy of sanction letter 25.08.2011 (Ex. B-10-colly);

- (clxxvii) Agreement for Hypothecation of Current Assets dated 30.08.2011 for Rs. 312.25 Crore (Ex. B-11);

- (clxxviii) Agreement for Hypothecation of Moveable Assets forming part of fixed/block assets dated 30.08.2011 for Rs. 312.25 Crore (Ex. B-12);

- (clxxxix) Agreement for Hypothecation of Good and Book Debts for securing Cash Credit facility dated 30.08.2011 for Rs. 60.00 Crore (Ex. B-13);

- (clxxx) Supplementary Agreement dated 30.08.2011 (Ex. B-14);

- (clxxxxi) Authority Letter for direct collection of bills/cheques dated 30.08.2011 (Ex. B-15);

- (clxxxii) Deed of Hypothecation to secure LC on DA/DP basis dated 30.08.2011 (Ex. B-16);

- (clxxxiii) General Counter Indemnity dated 30.08.2011 (Ex. B-17);

- (clxxxiv) Packing Credit Agreement (Hypothecation) 30.08.2011 (Ex. B-18);

- (clxxxv) General Indemnity for Rs. 72.00 Crore dated 30.08.2011 (Ex. B-19);

- (clxxxvi) Supplementary Agreement dated 30.08.2011 for Rs. 312.25 Crore (Ex. B-20);

- (clxxxvii) Agreement of Guarantee for Rs. Rs. 312.25 Crore by Mr. Ashok Kumar Bansal dated 30.08.2011 (Ex. B-21);

- (clxxxviii) Agreement of Guarantee for Rs. 312.25 Crore by Mrs. Anju Bansal dated 30.08.2011 (Ex. B-22);

- (clxxxix) Agreement of Guarantee for Rs. 312.25 Crore by Ashok Kumar Bansal (HUF) dated 30.08.2011 (Ex. B-23);

- (cxc) Agreement of Guarantee for Rs. 312.25 Crore by M/s. Hanung Processor Private Ltd. dated 30.08.2011 (Ex. B-24); 

- (cxci) Agreement of Guarantee for Rs 312.25 Crore by M/s. Hanung Furnishing Private Ltd. dated 30.08.2011 (Ex. B-25);

- (cxcii) Agreement of Guarantee for Rs. 312.25 Crore by M/s. Praneet Softech Private Ltd, dated 30.08.2011 (Ex. B-26);

- (cxciiii) Agreement of Guarantee for Rs. 312.25 Crore by M/s. Sankalpa Overseas Private Ltd. dated 30.08.2011 (Ex. B-27);

- (cxciv) Agreement of Guarantee for Rs. 312.25 Crore by M/s. C. K Software Private Ltd. dated 30.08.2011 (Ex. B-28);

- (cxcv) Agreement of Guarantee for Rs. 312.25 Crore by M/s Abhinav International Private Ltd. dated 30.08.2011 (Ex. B-29);

- (cxcvi) Confirmation of deposit of title deed for Property located at plot no. 108-109,110 and 125 NSEZ, Noida, Uttar Pradesh owned by M/s. Hanung Toys and Textiles Limited dated 02.09.2011 (Ex. B-30);

- (cxcvii) Confirmation of deposit of title deed for Property located at A-21. Hosiery complex, Phase II. Noida, owned M/s. Prancet Softech Private Limited dated 02.09.2011 (Ex. B-31);

- (cxcviii) Confirmation of deposit of title deed for Property Located Block B-1, Sector 59, Phase III, NOIDA, District Gautam Budh Nagar, UP, owned by M/s. C. K. Software Private Limited dated 02.09.2011 (Ex. B-32);

- (cxcix) Confirmation of deposit of title deed for Property situated at village Lakeshari Pargana Bhagwanpur, Tehsil Roorkee, District Hardwar in the state of Uttarakhand owned by M/s. Hanung Toys and Textiles Limited dated 02.09.2011 (Ex. B-33);

- (cc) Confirmation of deposit of title deed for Property located at plot No-115, NSEZ, Noida, owned M/s. Hanung Furnishings Private Limited dated 02.09.2011 (Ex. B-34);

- (ccii) Confirmation of deposit of title deed for Property located at B-7. Hosiery Complex, Phase-II, NOIDA, District Gautam Budh Nagar, UP owned M/s. Hanung Processors Private Limited dated 02.09.2011 (Ex. B-35);

- (ccii) Confirmation of deposit of title deed for Property located at G-20, Sector-VI, NOIDA, UP owned M/s. Sankalp Overseas Private Limited dated 02.09.2011 (Ex. B-36);

- (cciii) Confirmation of deposit of title deed for Property located at E-93, Enclave 1, Second floor and Third Floor, Greater Kailash. New Delhi Mr. Ashok Kumar Bansal dated 02.09.2011 (Ex. B-37);

- (cciv) Confirmation of deposit of title deed for Property located at E-93. Enclave 1, Second floor and Third Floor, Greater Kailash. New Delhi Mrs. Anju Bansal dated 02.09.2011 (Ex. B-38);

- (ccv) Confirmation of deposit of title deed for Property situated at village Lakeshari Pargana Bhagwanpur, Tehsil Roorkee, District Hardwar in the state of Uttarakhhand owned by M/s. Hanung Toys and Textiles Limited dated 02.09.2011 (Ex. B-39);

- (ccvi) Term Loan Agreement dated 28.11.2011 for Rs. 62.44 Crore (Ex. B-40);

- (ccvii) Demand Promissory Note dated 28.11.2011 for Rs. 62.44 Crore (Ex. B-41);

- (ccviii) Board resolution of M/s. Hanung Toys and Textile Ltd. dated 27.12.2011 (Ex. B-42);

- (ccix) Board resolution of M/s. Hanung Processor Private Ltd. dated 27.12.2011 (Ex. B-43 & B-44);

- (ccx) Board resolution of M/s. Sankalpa Overseas Private Ltd. dated 27.12.2011 (Ex. B-45 & B-46);

- (ccxi) Board resolution of M/s. Hanung Furnishing Private Ltd. dated 27.12.2011 (Ex. B-47);

- (ccxii) Board resolution of M/s. Abhinav International Private Ltd. dated 27.12.2011 (Ex. B-48);

- (ccxiii) Agreement of Guarantee for Rs. 372.64 Crore by Mr. Ashok Kumar Bansal dated 28.12.2011 (Ex. B-49);

- (ccxiv) Agreement of Guarantee for Rs. 372.64 Crore by Mrs. Anju Bansal dated 28.12.2011 (Ex. B-50);

- (ccxv) Agreement of Guarantee for Rs. 372.64 Crore by Ashok Kumar Bansal (HUF) dated 28.12.2011 (Ex. B-51);

- (ccxvi) Agreement of Guarantee for Rs. 372.64 Crore by M/s. Hanung Processor Private Ltd. dated 28.12.2011 (Ex. B-52);

- (ccxvii) Agreement of Guarantee for Rs 372.64 Crore by M/s. Hanung Furnishing Private Ltd. dated 28.12.2011 (Ex. B-53);

- (ccxviii) Agreement of Guarantee for Rs. 372.64 Crore by M/s. Pranet Softech Private Ltd. dated 28.12.2011 (Ex. B-54);

- (ccxix) Agreement of Guarantee for Rs. 372.64 Crore by M/s. Sankalpa Overseas Private Ltd. dated 28.12.2011 (Ex. B-55);

- (ccxx) Agreement of Guarantee for Rs. 372.64 Crore by M/s. C. K Software Private Ltd. dated 28.12.2011 (Ex. B-56);

- (ccxxi) Agreement of Guarantee for Rs. 372.64 Crore by M/s Abhinav International Private Ltd. dated 28.12.2011 (Ex. B-57);

- (ccxxii) Confirmation of deposit of title deed for Property located at plot no. 108-109,110 and 125 NSEZ, Noida, Uttar Pradesh owned by M/s. Hanung Toys and Textiles Limited dated 02.01.2012 (Ex. B-58);

- (ccxxiii) Confirmation of deposit of title deed for Property located at A-21. Hosiery complex, Phase II, Noida, owned M/s. Praneet Softech Private Limited dated 02.01.2012 (Ex. B-59);

- (ccxxiv) Confirmation of deposit of title deed for Property situated at village Lakeshari Pargana Bhagwanpur, Tehsil Roorkee, District Hardwar in the state of Uttarakhand owned by M/s. Hanung Toys and Textiles Limited dated 02.01.2012 (Ex. B-60);

- (ccxxv) Confirmation of deposit of title deed for Property Located Block B-1, Sector 59, Phase III, NOIDA, District Gautam Budh Nagar, UP, owned by M/s. C. K. Software Private Limited dated 02.01.2012 (Ex. B-61);

- (ccxxvi) Confirmation of deposit of title deed for Property located at plot No-115, NSEZ, Noida, owned M/s. Hanung Furnishings Private Limited dated 02.01.2012 (Ex. B-62);

- (ccxxvii) Confirmation of deposit of title deed for Property located at B-7, Hosiery Complex, Phase-II, NOIDA, District Gautam Budh Nagar, UP owned M/s. Hanung Processors Private Limited dated 02.01.2012 (Ex. B-63);

- (ccxxviii) Confirmation of deposit of title deed for Property located at G-20, Sector-VI, NOIDA, UP owned M/s. Sankalp Overseas Private Limited dated 02.01.2012 (Ex. B-64);

- (ccxxxix) Confirmation of deposit of title deed for Property located at E-93, Enclave 1, Second floor and Third Floor, Greater Kailash, New Delhi Mr. Ashok Kumar Bansal dated 02.01.2012 (Ex. B-65);

- (ccxxxx) Confirmation of deposit of title deed for Property located at E-93, Enclave 1, Second floor and Third Floor, Greater Kailash, New Delhi Mrs. Anju Bansal dated 02.01.2012 (Ex. B-66);

- (ccxxxi) Confirmation of deposit of title deed for Property situated at village Lakeshari Pargana Bhagwanpur, Tehsil Roorkee, District Hardwar in the state of Uttarakhhand owned by M/s. Hanung Toys and Textiles Limited dated 02.01.2012 (Ex. B-67);

- (ccxxxii) Board resolution of M/s. Hanung Toys and Textile Ltd. dated 11.05.2012 (Ex. B-68);

- (ccxxxiii) Board resolution of M/s. Hanung Proessor Private Ltd. dated 11.05.2012 (Ex. B-69);

- (ccxxxiv) Board resolution of M/s. Pranet Softech Private Ltd. dated 11.05.2012 (Ex. B-70);

- (ccxxxv) Board resolution of M/s. Sankalpa Overseas Private Ltd. dated 11.05.2012 (Ex. B-71);

- (ccxxxvi) Board resolution of M/s. Hanung Furnishing Private Ltd. dated 11.05.2012 (Ex. B-72);

- (ccxxxvii) Board resolution of M/s. C. K Software Private Ltd. dated 11.05.2012 (Ex. B-73);

- (ccxxxviii) Board resolution of M/s. Abhinav International Private Ltd. dated 11.05.2012 (Ex. B-74);

- (ccxxxix) Agreement for Hypothecation of Current Assets dated 15.05.2012 for Rs. 490.15 Crore (Ex. B-75);

- (ccxl) Agreement for Hypothecation of Moveable Assets forming part of fixed/block assets dated 15.05.2012 (Ex. B-76);

- (ccxli) Agreement for Hypothecation of Good and Book Debts for securing Cash Credit facility dated 15.05.2012 (Ex. B-77);

- (ccxlii) Supplementary Agreement dated 15.05.2012 for 490.15 Crore (Ex. B-78);

- (ccxliii) Authority Letter for direct collection of bills/cheques dated 15.05.2012 (Ex. B-79);

- (ccxliv) Deed of Hypothecation to secure LC on DA/DP basis dated 15.05.2012 (Ex. B-80);

- (ccxlv) General Counter Indemnity dated 15.05.2012 (Ex. B-81);

- (ccxlvi) Packing Credit Agreement (Hypothecation) dated 15.05.2012 (Ex. B-82);

- (ccxlvii) General Indemnity dated 15.05.2012 (Ex. B-83);

- (ccxlviii) Supplementary Agreement dated 15.05.2012 for 411.00 Crore (Ex. B-84);

- (ccclix) Agreement of Guarantee for Rs. 490.15 Crore by Mr. Ashok Kumar Bansal dated 15.05.2012 (Ex. B-85);

- (ccl) Agreement of Guarantee for Rs. 490.15 Crore by Mrs. Anju Bansal dated 15.05.2012 (Ex. B-86);

- (ccli) Agreement of Guarantee for Rs. 490.15 Crore by Ashok Kumar Bansal (HUF) dated 15.05.2012 (Ex. B-87); 

(cclii) Agreement of Guarantee for Rs. 490.15 Crore by M/s. Hanung Processor Private Ltd, dated 15.05.2012 (Ex. B-88);

(ccliii) Agreement of Guarantee for Rs. 490.15 Crore by M/s. Hanung Furnishing Private Ltd. dated 15.05.2012 (Ex. B-89);

(ccliv) Agreement of Guarantee for Rs. 490.15 Crore by M/s. Praneet Softech Private Ltd. dated 15.05.2012 (Ex. B-90);

(cclv) Agreement of Guarantee for Rs. 490.15 Crore by M/s. Sankalpa Overseas Private Ltd. dated 15.05.2012 (Ex. B-91);

(cclvi) Agreement of Guarantee for Rs. 490.15 Crore by M/s. C. K Software Private Ltd. dated 15.05.2012 (Ex. B-92);

(cclvii) Agreement of Guarantee for Rs. 490.15 Crore by M/s Abhinav International Private Ltd. dated 15.05.2012 (Ex. B-93); (cclviii) Accepted copy of sanction dated 11.05.2012 (Ex. B-94);

(cclix) Confirmation of deposit of title deed for Property located at plot no. 108-109,110 and 125 NSEZ, Noida, Uttar Pradesh owned by M/s. Hanung Toys and Textiles Limited dated 16.05.2012 (Ex. B-95);

(cclx) Confirmation of deposit of title deed for Property located at A-21, Hosiery complex, Phase II, Noida, owned M/s. Praneet Softech Private Limited dated 16.05.2012 (Ex. B-96);

(cclxi) Confirmation of deposit of title deed for Property Located Block B-1, Sector 59, Phase III, NOIDA, District Gautam Budh Nagar, UP, owned by M/s. C. K. Software Private Limited dated 16.05.2012 (Ex. B-97);

- (cclxii) Confirmation of deposit of title deed for Property located at plot No-115, NSEZ, Noida, owned M/s. Hanung Furnishings Private Limited dated 16.05.2012 (Ex. B-98);

- (cclxiii) Confirmation of deposit of title deed for Property located at B-7, Hosiery Complex, Phase-II, NOIDA, District Gautam Budh Nagar, UP owned M/s. Hanung Processors Private Limited dated 16.05.2012 (Ex. B-99);

- (cclxiv) Confirmation of deposit of title deed for Property located at G-20, Sector-VI, NOIDA, UP owned M/s. Sankalp Overseas Private Limited dated 16.05.2012 (Ex. B-100);

- (cclxv) Confirmation of deposit of title deed for Property located at E-93, Enclave 1, Second floor and Third Floor, Greater Kailash, New Delhi Mr. Ashok Kumar Bansal dated 16.05.2012 (Ex. B-101);

- (cclxvi) Confirmation of deposit of title deed for Property located at E-93, Enclave 1, Second floor and Third Floor, Greater Kailash, New Delhi Mrs. Anju Bansal dated 16.05.2012 (Ex. B-102);

- (cclxvii) Confirmation of deposit of title deed for Property situated at village Lakeshari Pargana Bhagwanpur, Tehsil Roorkee, District Hardwar in the state of Uttarakhand owned by M/s. Hanung Toys and Textiles Limited dated 16.05.2012 (Ex. B-103);

- (cclxviii) Confirmation of deposit of title deed for Property situated at village Lakeshari Pargana Bhagwanpur, Tehsil Roorkee, District Hardwar in the state of Uttarakhand owned by M/s. Hanung Toys and Textiles Limited dated 16.05.2012 (Ex. B-104);

- (cclxix) Duly acknowledged sanction letter dated 09.05.2013(Ex. B-105);

- (cclxx) Agreement for Hypothecation of Current Assets dated 09.05.2013 (Ex. B-106);

- (cclxxi) Agreement for Hypothecation of Moveable Assets forming part of fixed/block assets dated 09.05.2013 (Ex. B-107);

- (cclxxii) Agreement for Hypothecation of Good and Book Debt dated 09.05.2013 (Ex. B-108);

- (cclxxiii) Agreement for Hypothecation for securing Packing Cash Credit facility dated 09.05.2013 (Ex. B-109);

- (cclxxiv) Agreement for limits within PC Limit dated 09.05.2013 (Ex. B-110);

- (cclxxv) Supplementary Agreement dated 09.05.2013 for 545.31 Crore (Ex. B-111);

- (cclxxvi) Deed of Hypothecation to secure LC on DA/DP basis dated 09.05.2013 (Ex. B-112);

- (cclxxvii) General Indemnity dated 09.05.2013 for Rs. 108.00 Crore (Ex. B-113);

- (cclxxviii) General Counter Indemnity dated 09.05.2013 for Rs. 3.20 Crore (Ex. B-114);

- (cclxxix) Confirmation all of all the limits from all guarantors dated 09.05.2013 (Ex. B-115);

- (cclxxx) Agreement of Guarantee for Rs. 545.31 Crore by Mr. Ashok Kumar Bansal dated 09.05.2013 (Ex. B-116);

- (cclxxxii) Agreement of Guarantee for Rs. 545.31 Crore by Mrs. Anju Bansal dated 09.05.2013 (Ex. B-117);

- (cclxxxii) Agreement of Guarantee for Rs. 545.31 Crore by M/s. Hanung Processor Private Ltd. dated 09.05.2013 (Ex. B-118);

- (cclxxxiii) Agreement of Guarantee for Rs. 545.31 Crore by M/s. Hanung Furnishing Private Ltd. dated 09.05.2013 (Ex. B-119);

- (cclxxxiv) Agreement of Guarantee for Rs. 545.31 Crore by M/s. Praneet Softech Private Ltd. dated 09.05.2013 (Ex. B-120);

- (cclxxxv) Agreement of Guarantee for Rs. 545.31 Crore by M/s. Sankalpa Overseas Private Ltd. dated 09.05.2013 (Ex. B-121);

- (cclxxxvi) Agreement of Guarantee for Rs. 545.31 Crore by M/s. C. K Software Private Ltd. dated 09.05.2013 (Ex. B-122);

- (cclxxxvii) Agreement of Guarantee for Rs. 545.31 Crore by M/s Abhinav International Private Ltd. dated 09.05.2013 (Ex. B-123);

- (cclxxxviii) Confirmation of deposit of title deed for Property located at plot no. 108-109,110 and 125 NSEZ, Noida, Uttar Pradesh owned by M/s. Hanung Toys and Textiles Limited dated 10.05.2013 (Ex. B-124);

- (cclxxxix) Confirmation of deposit of title deed for Property located at A-21. Hosiery complex, Phase II, Noida, owned M/s. Praneet Softech Private Limited dated 10.05.2013 (Ex. B-125);

- (ccxc) Confirmation of deposit of title deed for Property Located Block B-1, Sector 59, Phase III, NOIDA, District Gautam Budh Nagar, UP, owned by M/s. C. K. Software Private Limited dated 10.05.2013 (Ex. B-126);

- (ccxci) Confirmation of deposit of title deed for Property located at plot No-115, NSEZ, Noida, owned M/s.

Hanung Furnishings Private Limited dated 10.05.2013 (Ex. B-127);

(ccxcii) Confirmation of deposit of title deed for Property located at B-7. Hosiery Complex, Phase-II, NOIDA, District Gautam Budh Nagar, UP owned M/s. Hanung Processors Private Limited dated 10.05.2013 (Ex. B-128); (ccxciii) Confirmation of deposit of title deed for Property located at G-20, Sector-VI, NOIDA, UP owned M/s. Sankalp Overseas Private Limited dated 10.05.2013 (Ex. B-129);

(ccxciv) Confirmation of deposit of title deed for Property located at E-93. Enclave 1, Second floor and Third Floor, Greater Kailash, New Delhi Mr. Ashok Kumar Bansal dated 10.05.2013 (Ex. B-130);

(ccxcv) Confirmation of deposit of title deed for Property located at E-93, Enclave 1, Second floor and Third Floor, Greater Kailash, New Delhi Mrs. Anju Bansal dated 10.05.2013 (Ex. B-131);

(ccxcvi) Confirmation of deposit of title deed for Property situated at village Lakeshari Pargana Bhagwanpur, Tehsil Roorkee, District Hardwar in the state of Uttarakhand owned by M/s. Hanung Toys and Textiles Limited dated 10.05.2013 (Ex. B-132); (ccxcvii) Confirmation of deposit of title deed for Property situated at village Lakeshari Pargana Bhagwanpur, Tehsil Roorkee, District Hardwar in the state of Uttarakhand owned by M/s. Hanung Toys and Textiles Limited dated 10.05.2013 (Ex. B-133); (ccxcviii) Agreement of Guarantee for Rs. 545.31 Crore by Mr. Ashok Kumar Bansal (HUF) dated 09.05.2013 (Ex. B-134);

- (ccxcix) Duly acknowledged sanction letter dated 29.06.2013 (Ex. B-135);

- (ccc) Board resolution of M/s. Hanung Toys and Textile Ltd. dated 29.06.2013 (Ex. B-136);

- (ccci) Board resolution of M/s. Hanung Processor Private Ltd. dated 29.06.2013 (Ex. B-137);

- (cccii) Board resolution of M/s. Praneet Softech Private Ltd. dated 20.06.2013 (Ex. B-138);

- (ccciii) Board resolution of M/s. Sankalpa Overseas Private Ltd. dated 29.06.2013 (Ex. B-139);

- (ccciv) Board resolution of M/s. Hanung Furnishing Private Ltd. dated 29.06.2013 (Ex. B-140);

- (cccv) Board resolution of M/s. C. K Software Private Ltd. dated 29.06.2013 (Ex. B-141);

- (cccvi) Board resolution of M/s. Abhinav International Private Ltd. dated 29.06.2013 (Ex. B-142);

- (cccvii) Agreement for Hypothecation of Current Assets dated 29.06.2013 (Ex. B-143);

- (cccviii) Agreement for Hypothecation of Moveable Assets forming part of fixed/block assets dated 29.06.2013 (Ex. B-144);

- (cccix) Agreement for Hypothecation of Good and Book Debt dated 29.06.2013 (Ex. B-145);

- (cccx) Agreement for Hypothecation for securing Packing Cash Credit facility dated 29.06.2013 (Ex. B-146);

- (cccxi) Agreement for limits within PC Limit dated 29.06.2013 (Ex. B-147);

- (cccxii) Supplementary Agreement dated 29.06.2013 for Rs. 545.31 Crore (Ex. B-148);

- (cccxiii) Deed of Hypothecation to secure LC on DA/DP basis dated 29.06.2013 (Ex. B-149);

- (cccxiv) General Counter Indemnity dated 29.06.2013 (Ex. B-150);

- (cccxv) General Indemnity dated 29.06.2013 (Ex. B-151);

- (cccxvi) Agreement of Guarantee for Rs. 545.31 Crore by Mr. Ashok Kumar Bansal dated 29.06.2013 (Ex. B-152);

- (cccxvii) Agreement of Guarantee for Rs. 545.31 Crore by Mrs. Anju Bansal dated 29.06.2013 (Ex. B-153);

- (cccxviii) Agreement of Guarantee for Rs. 545.31 Crore by Ashok Kumar Bansal (HUF) dated 29.06.2013 (Ex. B-154);

- (cccxix) Agreement of Guarantee for Rs. 545.31 Crore by M/s. Hanung Processor Private Ltd. dated 29.06.2013 (Ex. B-155);

- (cccxx) Agreement of Guarantee for Rs. 545.31 Crore by M/s. Hanung Furnishing Private Ltd. dated 29.06.2013 (Ex. B-156);

- (cccxxi) Agreement of Guarantee for Rs. 545.31 Crore by M/s. Praneet Softtech Private Ltd. dated 29.06.2013 (Ex. B-157);

- (cccxxii) Agreement of Guarantee for Rs. 545.31 Crore by M/s. Sankalpa Overseas Private Ltd. dated 29.06.2013 (Ex. B-158);

- (cccxxiii) Agreement of Guarantee for Rs. 545.31 Crore by M/s. C. K Software Private Ltd. dated 29.06.2013 (Ex. B-159);

- (cccxxiv) Agreement of Guarantee for Rs. 545.31 Crore by M/s Abhinav International Private Ltd. dated 29.06.2013 (Ex. B-160);

- (cccxxv) Confirmation of deposit of title deed for Property located at plot no. 108-109,110 and 125 NSEZ, Noida, Uttar Pradesh owned by M/s. Hanung Toys and Textiles Limited dated 02.07.2013 (Ex. B-161);

- (cccxxvi) Confirmation of deposit of title deed for Property located at A-21, Hosiery complex, Phase II, Noida, owned M/s. Praneet Softtech Private Limited dated 02.07.2013 (Ex. B-162);

- (cccxxvii) Confirmation of deposit of title deed for Property located at G-20, Sector-VI, NOIDA, UP owned M/s. Sankalp Overseas Private Limited dated 02.07.2013 (Ex. B-163);

- (cccxxviii) Confirmation of deposit of title deed for Property located at E-93, Enclave 1, Second floor and Third Floor, Greater Kailash. New Delhi Mr. Ashok Kumar Bansal 02.07.2013 (Ex. B-164);

- (cccxxix) Confirmation of deposit of title deed for Property located at E-93. Enclave 1, Second floor and Third Floor, Greater Kailash, New Delhi Mrs. Anju Bansal dated 02.07.2013 (Ex. B-165);

- (ccccxx) Confirmation of deposit of title deed for Property situated at village Lakeshari Pargana Bhagwanpur. Tehsil Roorkee, District Hardwar in the state of Uttarakhand owned by M/s. Hanung Toys and Textiles Limited dated 02.07.2013 (Ex. B-166);

- (ccccxxi) Confirmation of deposit of title deed for Property situated at village Lakeshari Pargana Bhagwanpur, Tehsil Roorkee, District Hardwar in the state of Uttarakhand owned by M/s. Hanung Toys and Textiles Limited dated 02.07.2013 (Ex. B-167); (ccccxxii) Confirmation of deposit of title deed for Property Located Block B-1, Sector 59, Phase III, NOIDA, District Gautam Budh Nagar, UP, owned by M/s. C. K. Software Private Limited dated 02.07.2013 (Ex. B-168); (ccccxxiii) Confirmation of deposit of title deed for Property located at plot No-115, NSEZ, Noida, owned M/s. Hanung Furnishings Private Limited dated 02.07.2013 (Ex. B-169); (ccccxxiv) Confirmation of deposit of title deed for Property located at B-7, Hosiery Complex, Phase-II, NOIDA, District Gautam Budh Nagar, UP owned M/s. Hanung Processors Private Limited dated 02.07.2013 (Ex. B-170); (ccccxxv) Statement of Accounts and the Certificates u/s 2A Banker's Books of Evidence Act, 1893 (Annexure B-171); 7.2 Ms. Aditi Singh, Law Associate and Authorized Signatory of applicant no. 2 i.e. Edelweiss Asset Reconstruction Company Ltd. (assignee of SBI and Allahabad Bank) has relied upon all the consortium documents filed with the OA, however, apart from the said documents, she has also relied upon the following documents: -

- (i) General Power of Attorney of applicant no. 2 in favour of the deponent (Ex. - 1).

- (ii) Assignment deed dated 11.08.2014 by and between Edelweiss Asset Reconstruction Co. and State Bank of India (Ex. C-1);

- (iii) Assignment deed dated 29.06.2015 by and between Edelweiss Asset Reconstruction Co. Ltd and Allahabad Bank (Ex. C-2).

7.3 Sh. Saneh Deep Chopra, Assistant General Manager of Applicant no. 5 (BOB) has also relied upon the following documents viz. :-

- (i) General Power of Attorney of applicant no. 5 in favour of the deponent (Ex. - 1).

- (ii) Sanction Letter dated 16.04.2012 of BOB (Ex. D-1);

- (iii) Board resolution dated 31.08.2009 passed by the defendant no. 1 company (Ex. D-2-colly);

- (iv) Duly accepted copy of sanction dated 07.05.2012 (Ex. D-3);

- (v) Board resolution of M/s. Hanung Toys and Textile Ltd. dated 07.05.2012 (Ex. D-4);

- (vi) Board resolution of M/s. Hanung Processor Private Ltd. dated 07.05.2012 (Ex. D-5);

- (vii) Board resolution of M/s. Pranet Softech Private Ltd. dated 07.05.2012 (Ex. D-6);

- (viii) Board resolution of M/s. Sankalpa Overseas Private Ltd. dated 07.05.2012(Ex. D-7);

- (ix) Board resolution of M/s. Hanung Furnishing Private Ltd. dated 07.05.2012 (Ex. D-8);

- (x) Board resolution of M/s. C. K Software Private Ltd. dated 07.05.2012 (Ex. D-9);

- (xi) Board resolution of M/s. Abhinav International Pvt. Ltd. dated 07.05.2012 (Ex. D-10);

- (xii) D.P. Note for Rs. 70.0 Crore dated 07.05.2012 (Ex. D-11);

- (xiii) Letter of Continuity securing Rs. 70.0 Crore (PFPC) dated 07.05.2012 (Ex. D-12);

- (xiv) Letter of Continuity securing Rs. 24.0 Crore dated 07.05.2012 (Ex. D-13);

- (xv) Letter of Continuity securing Rs. 70.0 Crore dated 07.05.2012 (Ex. D-14);

- (xvi) General Form of Guarantee for Rs. 120.0 Crores dated 07.05.2012 (Ex. D-15);

- (xvii) Agreement of Corporate Guarantee executed by M/s. Hanung Processor Private Ltd. dated 07.05.2012 (Ex. D-16);

- (xviii) Agreement of Corporate Guarantee executed by M/s. C. K Software Private Ltd. dated 07.05.2012 (Ex. D-17);

- (xix) Agreement of Corporate Guarantee executed by M/s. Sankalpa Overseas Private dated 07.05.2012 (Ex. D-18);

- (xx) Agreement of Corporate Guarantee executed by M/s. Pranet Softech Private Ltd. dated 07.05.2012 (Ex. D-19);

- (xxi) Agreement of Corporate Guarantee executed by Abhinav International Pvt. Ltd dated 07.05.2012 (Ex. D-20);

- (xxii) Composite Hypothecation Agreement dated 07.05.2012 (Ex. D-21);

- (xxiii) Power of Attorney for Book Debts dated 07.05.2012 (Ex. D-22);

- (xxiv) Undertaking for Non - Disposal of Shares dated 07.05.2012 (Ex. D-23);

- (xxv) Letter of Pledge of Goods for Advance dated 07.05.2012 (Ex. D-24);

- (xxvi) Undertaking cum Declaration for Environmental Protection dated 07.05.2012 (Ex. D-25);

- (xxvii) Foreign Bills Purchase Agreement dated 07.05.2012 (Ex. D-26);

- (xxviii) Declaration cum Undertaking authorized by all dated 07.05.2012 (Ex. D-27);

- (xxix) Letter of Undertaking (Book Debts) dated 07.05.2012 (Ex. D-28);

- (xxx) Trust Receipts (Exports) dated 07.05.2012 (Ex. D-29);

- (xxxi) Undertaking in terms of Sanction dated 07.05.2012 (Ex. D-30);

- (xxxii) General Undertaking dated 07.05.2012 (Ex. D-31);

- (xxxiii) Letter of Bills Purchased / Discounted dated 07.05.2012 (Ex. D-32);

- (xxxiv) Letters of Pledge dated 07.05.2012 (Ex. D-33);

- (xxxv) Declaration executed by the Defendant No. 1 Company dated 07.05.2012 (Ex. D-34);

- (xxxvi) Undertaking not to withdraw deposit by Director etc. till advance liquidated dated 07.05.2012 (Ex. D-35);

- (xxxvii) Agreement of Corporate Guarantee executed by M/s. Hanung Furnishing Private Ltd. dated 07.05.2012 (Ex. D-36); 

(xxxviii) Agreement of General Guarantee executed by Ashok Kumar Bansal and Anju Bansal, dated 07.05.2012 (Ex. D-37);

(xxxix) Letter of Undertaking (Packing Credit Advances) dated 07.05.2012 (Ex. D-38);

(xl) NOC for ceding of Pari-Passu Charge dated 11.05.2012 (Ex. D-39);

(xli) Statement of Account and the Certificate u/s 2A Banker's Books of Evidence Act, 1893 (Ex. D-40).

7.4 Mr. A.K. Pahwa, Senior Manager of applicant bank no. 6 i.e. Bank of India has also placed reliance upon following documents:-

(i) General Power of Attorney of applicant bank no. 6 in favour of the deponent (Ex. - 1);

(ii) Board resolution of M/s, Hanung Toys and Textile Ltd. dated 05.12.2009 (Ex. E-1);

(iii) Board resolution of M/s. Hanung Processor Private Ltd. dated 05.12.2009 (Ex. E-2);

(iv) Board resolution of M/s. Praneet Softech Private Ltd. dated 05.12.2009 (Ex. E-3);

(v) Board resolution of M/s. Sankalpa Overseas Private Ltd. dated 05.12.2009 (Ex. E-4);

(vi) Board resolution of M/s. Hanung Furnishing Private Ltd. dated 05.12.2009 (Ex. E-5);

(vii) Board resolution of M/s CK Software Private Ltd. dated 05.12.2009 (Ex. E-6); A handwritten signature in blue ink is positioned above a solid green rectangular stamp. The signature appears to be a stylized script, possibly a name or initials.

- (viii) DP Note for Rs. 82 Crore dated 07.12.2009 (Ex. E-7);

- (ix) Credit facility Agreement dated 07.12.2009 (Ex. E-8);

- (x) Accepted copy of Sanction dated 17.11.2009 (Ex. E-9);

- (xi) Letter of Undertaking dated 07.12.2009 (Ex. E-10);

- (xii) Working Capital Agreement (L-516) dated 07.12.2009 (Ex. E-11);

- (xiii) Trust Receipt dated 07.12.2009 (Ex. E-12);

- (xiv) Counter Guarantee dated 07.12.2009 (Ex. E-13);

- (xv) Omnibus Indemnity dated 07.12.2009 (Ex. E-14);

- (xvi) Working Capital Agreement dated 07.12.2009 (Ex. E-15);

- (xvii) Agreement for Hypothecation dated 07.12.2009 (Ex. E-16);

- (xviii) Agreement for Guarantee dated 07.12.2009 (Ex. E-17);

- (xix) Agreement of Hypothecation for Plant, Machinery, Stocks and Book Debts dated 30.06.2010 executed by defendant no. 1 in favour of Applicant Bank No. 6 (BOI) (Ex. E-18);

- (xx) Duly accepted copy of sanction dated 09.07.2012 (E-19-colly);

- (xxi) Board resolution of M/s. Hanung Toys and Textile Ltd. dated 30.07.2012 (Ex. E-20);

- (xxii) Board resolution of M/s. Hanung Processor Private Ltd. dated 30.07.2012 (Ex. E-21);

- (xxiii) Board resolution of M/s. Praneet Softech Private Ltd. dated 30.07.2012 (Ex. E-22);

- (xxiv) Board resolution of M/s. Sankalpa Overseas Private Ltd. dated 30.07.2012 (Ex. E-23);

- (xxv) Board resolution of M/s. Hanung Furnishing Private Ltd. dated 30.07.2012 (Ex. E-24);

- (xxvi) Board resolution of M/s. C. K Software Private Ltd. dated 30.07.2012 (Ex. E-25);

- (xxvii) D P Note for Rs. 28.40 Crore dated 30.07.2012 (Ex. E-26);

- (xxviii) Credit facility Agreement dated 30.07.2012 (Ex. E-27);

- (xxix) Working Capital Agreement dated 30.07.2012 (Ex. E-28);

- (xxx) Agreement for Hypothecation Cum Term Loan dated 30.07.2012 (Ex. E-29);

- (xxxi) Deed of Guarantee dated 30.07.2012 (Ex. E-30);

- (xxxii) Working Capital Agreement for total limits dated 30.07.2012 (Ex. E-31);

- (xxxiii) Declaration dated 30.07.2012 (Ex. E-32);

- (xxxiv) Undertaking and confirmation dated 30.07.2012 (Ex. E-33);

- (xxxv) Statement of Account and the Certificate u/s 2A Banker's Books of Evidence Act (Ex. E-34).


7.5 Mr. V.V. Natarajan, Assistant General Manager of applicant bank no. 7 i.e. Central Bank of India (CBI) has also placed reliance upon following documents:-

- (i) General Power of Attorney of applicant bank no. 7 in favour of the deponent (Ex. – 1);

- (ii) Acknowledged Sanction letter dated 26.08.2008 (Ex. F-1);

- (iii) Board resolution of M/s. Hanung Toys and Textile Ltd. dated 15.09.2008 (Ex. F-2);

- (iv) Board resolution of M/s Praneet Softech Private Ltd. dated 15.09.2008 (Ex. F-3);

- (v) Board resolution of M/s C.K.Software Private Ltd. Dated 15.09.2008 (Ex. F-4);

- (vi) Board resolution of M/s. Hanung Processors Private Ltd. dated 15.09.2008 (Ex. F-5);

- (vii) Board resolution of M/s Hanung Furnishing Private Ltd. dated 15.09.2008 (Ex. F-6);

- (viii) DP Note dated 18.09.2008 for Rs.40.0 crore (Ex. F-7);

- (ix) Letter of Waiver dated 18.09.2008 (Ex. F-8);

- (x) Letter of Interest Variation dated 18.09.2008 (Ex. F-9);

- (xi) Letter of Continuity dated 18.09.2008 (Ex. F-10);

- (xii) Letter of Hypothecation Export Bills dated 18.09.2008 (Ex. F-11);

- (xiii) Packing Credit Agreement dated 18.09.2008 (Ex. F-12);

- (xiv) Bills Discounting Agreement dated 18.09.2008 (Ex. F-13);

- (xv) Omnibus Counter Guarantee for Letter of Credit dated 18.09.2008 (Ex. F-14);

- (xvi) Form of Guarantee for Advances and Credits Generally dated 18.09.2008 by M/s Praneet Softech Private Ltd. (Ex. F-15);

- (xvii) Form of Guarantee for Advances and Credits Generally dated 18.09.2008 by M/s Hanung Processors Private Ltd. (Ex. F-16);

- (xviii) Form of Guarantee for Advances and Credits Generally dated 18.09.2008 by Hanung Furnishing Private Ltd. (Ex. F-17);

- (xix) Form of Guarantee for Advances and Credits Generally dated 18.09.2008 by Shri Ashok Kumar Bansal (Ex. F-18);

- (xx) Form of Guarantee for Advances and Credits Generally dated 18.09.2008 by Smt. Anju Bansal (Ex. F-19);

- (xxi) Form of Guarantee for Advances and Credits Generally dated 18.09.2008 by M/s C.K. Software Private Ltd. (Ex. F-20);

- (xxii) Consent of the Defendant No. 1/Borrower Company for CIBIL (Ex. F-21);

- (xxiii) Negative Lien dated 18.09.2008 (Ex. F-22);

- (xxiv) Board resolution of M/s. Hanung Toys and Textile Ltd. dated 05.10.2009 (Ex. F-23);

- (xxv) Board resolution of M/s. Praneet Softech Private Ltd, dated 05.10.2009 (Ex. F-24);

- (xxvi) Board resolution of M/s. Sankalpa Overseas Private Ltd. dated 05.10.2009 (Ex. F-25);

- (xxvii) Board resolution of M/s. C.K.Software Private Ltd. dated 05.10.2009 (Ex. F-26);

- (xxviii) Board resolution of M/s. Hanung Processors Private Ltd. dated 05.10.2009 (Ex. F-27);

- (xxix) Board resolution of M/s. Hanung Furnishing Private Ltd. dated 05.10.2009 (Ex. F-28);

- (xxx) DP Note dated 05.10.2009 for Rs. 48.0 crore (Ex. F-29 & F-30);

- (xxxi) Letter of Waiver dated 05.10.2009 (Ex. F-31);

- (xxxii) Letter of Interest Variation dated 05.10.2009 (Ex. F-32);

- (xxxiii) Letter of Hypothecation - Export Bills dated 05.10.2009 (Ex. F-33);

- (xxxiv) Packing Credit Agreement dated 05.10.2009 (Ex. F-34);

- (xxxv) Omnibus Counter Guarantee for Letter of Credit dated 05.10.2009 (Ex. F-35);

- (xxxvi) Form of Guarantee for Advances and Credits Generally dated 05.10.2009 by M/s Praneet Softtech Private Ltd. (Ex. F-36);

- (xxxvii) Form of Guarantee for Advances and Credits Generally dated 05.10.2009 by M/s Hanung Processors Private Ltd. (Ex. F-37);

- (xxxviii) Form of Guarantee for Advances and Credits Generally dated 05.10.2009 by M/s Hanung Furnishing Private Ltd. (Ex. F-38);

- (xxxix) Form of Guarantee for Advances and Credits Generally dated 05.10.2009 by M/s Sankalpa Overseas Private Ltd. (Ex. F-39);

- (xli) Form of Guarantee for Advances and Credits Generally dated 05.10.2009 by Shri Ashok Kumar Bansal (Ex. F-40);

- (xlii) Form of Guarantee for Advances and Credits Generally dated 05.10.2009 by Smt. Anju Bansal (Ex. F-41);

- (xliii) Form of Guarantee for Advances and Credits Generally dated 05.10.2009 by Ashok Kumar Bansal HUF (Ex. F-42);

- (xliv) Form of Guarantee for Advances and Credits Generally dated 05.10.2009 by M/s C.K. Software Private Ltd. (Ex. F-43);

- (xlv) Negative Lien dated 05.10.2009 (Ex. F-44);

- (xlv) Undertakings from company dated 05.10.2009 (Ex. F-45);

- (xlv) General Counter Guarantee & Indemnity covering several guarantees within the sanctioned Guarantee Limit dated 05.10.2009 (Ex. F-46);

- (xlvii) Board resolution of M/s. Hanung Toys and Textile Ltd. dated 01.03.2010 (Ex. F-47);

- (xlviii) Board resolution of M/s. Praneet Softech Private Ltd, dated 01.03.2010 (Ex. F-48);

- (xlix) Board resolution of M/s. Sankalpa Overseas Private Ltd. dated 01.03.2010 (Ex. F-49);

- (l) Board resolution of M/s. C.K. Software Private Ltd. dated 01.03.2010 (Ex. F-50);

- (li) Board resolution of M/s. Hanung Processors Private Ltd. dated 01.03.2010 (Ex. F-51);

- (lii) Board resolution of M/s. Hanung Furnishing Private Ltd. dated 01.03.2010 (Ex. F-52);

- (liii) Term Loan Agreement dated 11.03.2010 for Rs.15.0 crore (Ex. F-53);

- (liv) Letter of Interest Variation dated 11.03.2010 (Ex. F-54);

- (lv) Letter of Hypothecation 11.03.2010 (Ex. F-55);

- (lvi) Omnibus Counter Guarantee for Letter of Credit dated 11.03.2010 (Ex. F-56);

- (lvii) Application & agreement for LC dated 11.03.2010 (Ex. F-57);

- (lviii) Form of Guarantee for Advances and Credits Generally dated 11.03.2010 by M/s Praneet Sofitech Private Ltd. (Ex. F-58);

- (lix) Form of Guarantee for Advances and Credits Generally dated 11.03.2010 by M/s Hanung Processors Private Ltd. (Ex. F-59);

- (lx) Form of Guarantee for Advances and Credits Generally dated 11.03.2010 by M/s Hanung Furnishing Private Ltd. (Ex. F-60);

- (lxi) Form of Guarantee for Advances and Credits Generally dated 11.03.2010 by M/s Sankalpa Overseas Private Ltd. (Ex. F-61);

- (lxii) Form of Guarantee for Advances and Credits Generally dated 11.03.2010 by Shri Ashok Kumar Bansal (Ex. F-62);

- (lxiii) Form of Guarantee for Advances and Credits Generally dated 11.03.2010 by Smt. Anju Bansal(Ex. F-63);

- (lxiv) Form of Guarantee for Advances and Credits Generally dated 11.03.2010 by Ashok Kumar Bansal (HUF) (Ex. F-64);

- (lxv) Form of Guarantee for Advances and Credits Generally dated 11.03.2010 by M/s C. K. Software Private Ltd. (Ex. F-65);

- (lxvi) Negative Lien dated 11.03.2010 (Ex. F-66);

- (lxvii) Acknowledged copy of sanction letter dated 05.10.2009 (Ex. F-67);

- (lxviii) Board resolution of M/s. Hanung Toys and Textile Ltd. dated 08.02.2011 (Ex. F-68);

- (lxix) Board resolution of M/s. Pranet Softech Private Ltd. dated 17.02.2011 (Ex. F-69);

- (lxx) Board resolution of M/s. Sankalpa Overseas Private Ltd. dated 18.02.2011 (Ex. F-70);

- (lxxi) Board resolution of M/s. C.K. Software Private Ltd, dated 15.02.2011 (Ex. F-71);

- (lxxii) Board resolution of M/s. Hanung Processors Private Ltd. dated 15.02.2011 (Ex. F-72);

- (lxxiii) Board resolution of M/s. Hanung Furnishing Private Ltd. dated 16.02.2011 (Ex. F-73);

- (lxxiv) Loan Agreement dated 28.03.2011 (Ex. F-74);

- (lxxv) Security Trustee Agreement dated 28.03.2011 (Ex. F-75);

- (lxxvi) Deed of Hypothecation dated 28.03.2011 (Ex. F-76);

- (lxxvii) Escrow Agreement dated 28.03.2011 (Ex. F-77);

- (lxxviii) Cost Overrun Agreement/Undertaking dated 28.03.2011 (Ex. F-78);

- (lxxix) Non-Disposal undertaking dated 28.03.2011 (Ex. F-79);

- (lxxx) Agreement of Guarantee by Mr. Ashok Kumar Bansal dated 28.03.2011 (Ex. F-80);

- (lxxxi) Agreement of Guarantee by Mrs. Anju Bansal dated 28.03.2011 (Ex. F-81);

- (lxxxii) Agreement of Guarantee by Ashok Kumar Bansal (HUF) dated 28.03.2011 (Ex. F-82);

- (lxxxiii) Agreement of Guarantee by M/s. Hanung Processor Private Ltd. dated 28.03.2011 (Ex. F-83);

- (lxxxiv) Agreement of Guarantee by M/s. Hanung Furnishing Private Ltd. dated 28.03.2011 (Ex. F-84);

- (lxxxv) Agreement of Guarantee by M/s. Praneet Softech Private Ltd. dated 28.03.2011 (Ex. F-85);

- (lxxxvi) Agreement of Guarantee by M/s. Sankalpa Overseas Private Ltd. dated 28.03.2011 (Ex. F-86);

- (lxxxvii) Agreement of Guarantee by M/s. C. K Software Private Ltd dated 28.03.2011 (Ex. F-87);

- (lxxxviii) Board resolution of M/s. Hanung Toys and Textile Ltd. Dated 20.08.2012 (Ex. F-88);

- (lxxxix) Board resolution of M/s. Praneet Softech Private Ltd. dated 20.08.2012 (Ex. F-89);

- (xc) Board resolution of M/s, Sankalpa Overseas Private Ltd. dated 20.08.2012 (Ex. F-90);

- (xci) Board resolution of M/s. C.K. Software Private Ltd. dated 20.08.2012 (Ex. F-91);

- (xcii) Board resolution of M/s. Hanung Processors Private Ltd. dated 20.08.2012 (Ex. F-92);

- (xciii) Board resolution of M/s. Hanung Furnishing Private Ltd. dated 20.08.2012 (Ex. F-93);

- (xciv) Board resolution of M/s. Abhinav International Private Ltd. dated 20.08.2012 (Ex. F-94);

- (xcv) DP Note dated 21.08.2012 (Ex. F-95);

- (xcvi) Letter of Waiver dated 21.08.2012 (Ex. F-96);

- (xcvii) Letter of Interest Variation dated 21.08.2012 (Ex. F-97);

- (xcviii) Letter of Continuity dated 21.08.2012 (Ex. F-98);

- (xcix) Letter of Hypothecation - Export Bills dated 21.08.2012 (Ex. F-99);

- (c) Packing Credit Agreement dated 21.08.2012 (Ex. F-100);

- (ci) Application and Agreement of Letter of Credit dated 20.08.2012 (Ex. F-101);

- (cii) Undertaking dated 21.08.2012 (Ex. F-102);

- (ciii) Agreement of Guarantee for by Mr. Ashok Kumar Bansal dated 21.08.2012 (Ex. F-103);

- (civ) Agreement of Guarantee by Mrs. Anju Bansal dated 21.08.2012 (Ex. F-104);

- (cv) Agreement of Guarantee by Ashok Kumar Bansal (HUF) dated 21.08.2012 (Ex. F-105);

- (cvi) Agreement of Guarantee by M/s. Hanung Processor Private Ltd. dated 21.08.2012 (Ex. F-106);

- (cvii) Agreement of Guarantee by M/s. Hanung Furnishing Private Ltd. dated 15.05.2012 (Ex. F-107);

- (cviii) Agreement of Guarantee by M/s. Praneet Softtech Private Ltd. dated 21.08.2012 (Ex. F-108);

- (cix) Agreement of Guarantee by M/s. Sankalpa Overseas Private Ltd. dated 21.08.2012 (Ex. F-109);

- (cx) Agreement of Guarantee by M/s. C. K Software Private Ltd. dated 21.08.2012 (Ex. F-110);

- (cxi) Agreement of Guarantee by M/s Abhinav International Private Ltd. dated 21.08.2012 (Ex. F-111);

- (cxii) Statement of Accounts and the Certificates u/s 2A Banker's Books of Evidence Act, 1893 (Ex. F-112).

7.6 Mr. Ajith KR, Chief Manager of applicant bank no. 8 i.e. Karnataka Bank has also placed reliance upon following documents:-

- (i) General Power of Attorney of applicant bank no. 8 in favour of the deponent (Ex. - 1);

- (ii) Acknowledged copy of the Sanction Letter dated 30.03.2009 (Ex. G-1);

- (iii) Board resolution of M/s. Hanung Toys and Textile Ltd. dated 30.03.2009 (Ex. G-2);

- (iv) Board resolution of M/s. Hanung Processor Private Ltd. dated 30.03.2009 (Ex. G-3);

- (v) Board resolution of M/s. Praneet Softech Private Ltd. dated 30.03.2009 (Ex. G-4);

- (vi) Board resolution of M/s. Sankalpa Overseas Private Ltd. dated 30.03.2009 (Ex. G-5);

- (vii) Board resolution of M/s. Hanung Furnishing Private Ltd. dated 30.03.2009 (Ex. G-6);

- (viii) Board resolution of M/s. C. K Software Private Ltd. dated 30.03.2009 (Ex. G-7);

- (ix) Account Opening Form dated 31.03.2009 (Ex. G-8);

- (x) Take Delivery Letter dated 31.03.2009 along with D.P. Note for Rs. 15.0 Crore dated 31.03.2009 (Ex. G-9 & G-10);

- (xi) Hypothecation Agreement dated 31.03.2009 (Ex. G-11);

- (xii) Term Loan Agreement dated 31.03.2009 (Ex. G-12);

- (xiii) Guarantee Letter executed by M/s. Hanung Processor Private Ltd. dated 31.03.2009 (Ex. G-13);

- (xiv) Guarantee Letter executed by M/s. Hanung Furnishing Private Ltd. dated 31.03.2009 (Ex. G-14);

- (xv) Guarantee Letter executed by M/s. Praneet Softech Private Ltd. dated 31.03.2009 (Ex. G-15);

- (xvi) Guarantee Letter executed by M/s. Sankalpa Overseas Private Ltd. dated 31.03.2009 (Ex. G-16);

- (xvii) Guarantee Letter executed by M/s. C. K Software Private Ltd. dated 31.03.2009 (Ex. G-17);

- (xviii) Guarantee Letter executed by Sh. Ashok Kumar Bansal and Smt. Anju Bansal dated 31.03.2009 (Ex. G-18);

- (xix) Consent Letter from Co-Obligants / Guarantors executed by M/s. Hanung Processor Private Ltd. dated 31.03.2009 (Ex. G-19);

- (xx) Consent Letter from Co-Obligants / Guarantors executed by M/s. Hanung Furnishing Private Ltd. dated 31.03.2009 (Ex. G-20);

- (xxi) Consent Letter from Co - Obligants / Guarantors executed by M/s. Praneet Softech Private Ltd. dated 31.03.2009 (Ex. G-21);

- (xxii) Consent Letter from Co Obligants / Guarantors executed by M/s. Sankalpa Overseas Private Ltd. dated 31.03.2009 (Ex. G-22);

- (xxiii) Consent Letter from Co – Obligants / Guarantors executed by M/s. C. K Software Private Ltd. dated 31.03.2009 (Ex. G-23);

- (xxiv) Consent Letter from Co – Obligants / Guarantors executed by Sh. Ashok Kumar Bansal and Smt. Anju Bansal dated 31.03.2009 (Ex. G-24);

- (xxv) Declaration executed by Defendant No. 1 Company dated 31.03.2009 (Ex. G-25);

- (xxvi) Consent Letter from the Borrowers dated 31.03.2009 (Ex. G-26);

- (xxvii) Letter of Credit Application and Agreement Form dated 31.03.2009 (Ex. G-27);

- (xxviii) Letter of Credit Application and Agreement Form dated 31.03.2009 (Ex. G-28);

- (xxix) Undertaking/Declaration for Hypothecation of vehicles/ machinery / movables dated 31.03.2009 (Ex. G-29).

- (xxx) Copy of Form 8 duly registered with the Registrar of Companies with regard to charge created / modified on the assets of defendant no. 1 company for securing the credit limits sanction by applicant no. 8 / KBL (Ex. G-30);

- (xxxii) Acknowledged copy of the Sanction Letter dated 20.12.2010 (Ex. G-31);

- (xxxiii) Board resolution of M/s. Hanung Toys and Textile Ltd. dated 11.01.2011 (Ex. G-32);

- (xxxiiii) Board resolution of M/s. Hanung Processor Private Ltd. dated 11.01.2011 (Ex. G-33);

- (xxxv) Board resolution of M/s. Praneet Softech Private Ltd. dated 11.01.2011 (Ex. G-34);

- (xxxvi) Board resolution of M/s. Sankalpa Overseas Private Ltd. dated 11.01.2011 (Ex. G-35);

- (xxxvii) Board resolution of M/s. Hanung Furnishing Private Ltd. dated 11.01.2011 (Ex. G-36);

- (xxxviii) Board resolution of M/s. C. K Software Private Ltd. dated 11.01.2011 (Ex. G-37);

- (xxxix) Board resolution of M/s. Abhinav International Pvt. Ltd. dated 11.01.2011 (Ex. G-38);

- (xxxx) Take Delivery Letter dated 28.01.2011 along D.P. Note for Rs. 19 Crore dated 28.01.2011 (Ex. G-39);

- (xl) Letter of Hypothecation dated 28.01.2011 (Ex. G-40);

- (xli) Export Credit Agreement dated 28.01.2011 (Ex. G-41);

- (xlil) Guarantee Letter executed by M/s. Hanung Processor Private Ltd. dated 28.01.2011 (Ex. G-42);

- (xlili) Guarantee Letter executed by M/s. Hanung Furnishing Private Ltd. dated 28.01.2011 (Ex. G-43);

- (xliv) Guarantee Letter executed by M/s. Praneet Softech Private Ltd. dated 28.01.2011 (Ex. G-44);

- (xlv) Guarantee Letter executed by M/s. Sankalpa Overseas Private Ltd. dated 28.01.2011 (Ex. G-45);

- (xlvi) Guarantee Letter executed by M/s. C. K Software Private Ltd. dated 28.01.2011 (Ex. G-46);

- (xlvii) Guarantee Letter executed by M/s. Abhinav International Private Ltd. dated 28.01.2011 (Ex. G-47);

- (xlviii) Guarantee Letter executed by Sh. Ashok Kumar Bansal and Smt. Anju Bansal dated 28.01.2011 (Ex. G-48);

- (xlix) Guarantee Letter executed by Sh. Ashok Kumar Bansal (HUF) dated 28.01.2011 (Ex. G-49);

- (cxiii) Guarantee Letters for Bills & Checks dated 28.01.2011 (Ex. G-50);

- (cxiv) Consent Letter from Co-Obligants / Guarantors executed by M/s. Hanung Processor Private Ltd. dated 28.01.2011 (Ex. G-51);

- (cxv) Consent Letter from Co-Obligants / Guarantors executed by M/s. Hanung Furnishing Private Ltd. dated 28.01.2011(Ex. G-52);

- (cxvi) Consent Letter from Co - Obligants / Guarantors executed by M/s. Pranet Softech Private Ltd. dated 28.01.2011 (Ex. G-53);

- (cxvii) Consent Letter from Co - Obligants / Guarantors executed by M/s. Sankalpa Overseas Private Ltd. dated 28.01.2011 (Ex. G-54);

- (cxviii) Consent Letter from Co Obligants / Guarantors executed by M/s. C. K Software Private Ltd. dated 28.01.2011 (Ex. G-55);

- (cxix) Consent Letter from Co - Obligants / Guarantors executed by M/s. Abhinav International Private Ltd. 28.01.2011 (Ex. G-56);

- (cxx) Consent Letter from Co Obligants / Guarantors executed by Sh. Ashok Kumar Bansal and Smt. Anju Bansal dated 28.01.2011 (Ex. G-57);

- (cxxi) Consent Letter from Co - Obligants / Guarantors executed by Ashok Kumar Bansal (HUF) dated 28.01.2011 (Ex. G-58);

- (cxxii) Consent Letter from Co Obligants / Guarantors executed by Hanung Toys and Textile dated 28.01.2011 (Ex. G-59);

- (cxxiii) Letter of repayment (Ex. G-60);

- (cxxiv) Hypothecation Agreement dated 28.01.2011 (Ex. G-61);

- (cxxv) Take Delivery Letter dated 28.01.2011 along D.P. Note for Rs. 19.0 Crore dated 28.01.2011(Ex. G-62);

- (cxxvi) Acknowledgement of Debt dated 15.09.2011 (Ex. G-63-colly); (cxxxvii) Statement of Accounts and the Certificate u/s 2A Banker's Books of Evidence Act, 1893 (Ex. G-64).

7.8 Mr. G.L. Gupta, Assistant General Manager of applicant bank no. 10 i.e. UCO Bank has also placed reliance upon following documents:-

- (i) General Power of Attorney of applicant bank no. 10 in favour of the deponent (Ex. - 1);

- (ii) Acknowledged copy of the Sanction Letter dated 29.03.2011 (Ex. H-1);

- (iii) D.P. Note for Rs. 60.0 Crore dated 30.03.2011 (Ex. H-2);

- (iv) Acknowledgement for Rate of Interest dated 30.03.2011 (Ex. H-3);

- (v) Board Resolution of Hanung Toys and Textiles dated 29.03.2011 (Ex. H-4);

- (vi) Term loan Agreement Interest dated 30.03.2011 (Ex. H-5);

- (vii) Agreement for Subservient Charge on Fixed and Current Assets Interest dated 30.03.2011 (Ex. H-6);

- (viii) Guarantee Letter executed by Sh. Ashok Kumar Bansal Interest dated 30.03.2011 (Ex. H-7);

- (ix) Guarantee Letter executed by Anju Bansal Interest dated 30.03.2011 (Ex. H-8);

- (x) Packing Credit Form dated 22.11.2011 (Ex. H-9);

- (xi) Demand Promissory Note dated 22.11.2011 for Rs. 72.00 Crore (Ex. H-10-colly); A small green rectangular stamp or mark with a blue line above it, located at the bottom right of the page.

- (xii) Document for Acknowledging the interest Component dated 22.11.2011(Ex. H-11-colly);

- (xiii) Board resolution of M/s. Hanung Toys and Textile Ltd. dated 22.11.2011 (Ex. H-12);

- (xiv) Board resolution of M/s. Hanung Processor Private Ltd. dated 22.11.2011 (Ex. H-13);

- (xv) Board resolution of M/s. Praneet Softtech Private Ltd. dated 22.11.2011(Ex. H-14);

- (xvi) Board resolution of M/s. Sankalpa Overseas Private Ltd. dated 22.11.2011 (Ex. H-15);

- (xvii) Board resolution of M/s. Hanung Furnishing Private Ltd. dated 22.11.2011 (Ex. H-16);

- (xviii) Board resolution of M/s. C. K Software Private Ltd. dated 22.11.2011 (Ex. H-17);

- (xix) Board resolution of M/s. Abhinav International Private Ltd. dated 22.11.2011 (Ex. H-18);

- (xx) Agreement of Guarantee for Rs. 84.0 Crore by Mr. Ashok Kumar Bansal dated 22.11.2011 (Ex. H-19);

- (xxi) Agreement of Guarantee for Rs. 84.0 Crore by Mrs. Anju Bansal dated 22.11.2011 (Ex. H-20);

- (xxii) Agreement of Guarantee for Rs. 84.0 Crore by Ashok Kumar Bansal (HUF) dated 22.11.2011 (Ex. H-21);

- (xxiii) Agreement of Guarantee for Rs. 84 Crore by M/s. Hanung Processor Private Ltd. dated 22.11.2011 (Ex. H-22);

- (xxiv) Agreement of Guarantee for Rs 84.0 Crore by M/s. Hanung Furnishing Private Ltd. dated 22.11.2011(Ex. H-23);

- (xxv) Agreement of Guarantee for Rs. 84.0 Crore by M/s. Praneet Softech Private Ltd. dated 22.11.2011 (Ex. H-24);

- (xxvi) Agreement of Guarantee for Rs. 84.0 Crore by M/s. Sankalpa Overseas Private Ltd. dated 22.11.2011 (Ex. H-25);

- (xxvii) Agreement of Guarantee for Rs. 84.0 Crore by M/s. C. K Software Private Ltd. dated 22.11.2011 (Ex. H-26);

- (xxviii) Agreement of Guarantee for Rs. 84.0 Crore by M/s. Abhinav International Private Ltd. dated 22.11.2011 (Ex. H-27);

- (xxix) Undertaking regarding commission of M/s. Hanung Processor Private Ltd. dated 22.11.2011 (Ex. H-28);

- (xxx) Undertaking regarding commission of M/s. Praneet Softech Private Ltd. dated 22.11.2011 (Ex. H-29);

- (xxxi) Undertaking regarding commission of M/s. Sankalpa Overseas Private Ltd. dated 22.11.2011 (Ex. H-30);

- (xxxii) Undertaking regarding commission M/s. Hanung Furnishing Private Ltd. dated 22.11.2011 (Ex. H-31);

- (xxxiii) Undertaking regarding commission of M/s. C. K Software Private Ltd. dated 22.11.2011 (Ex. H-32);

- (xxxiv) Undertaking regarding commission of M/s. Abhinav International Private Ltd. dated 22.11.2011 (Ex. H-33);

- (xxxv) Agreement for extension of Charge by way of Hypothecation of Current Assets to secure Non Fund Based facilities dated 22.11.2011 (Ex. H-34);

- (xxxvi) Agreement for Hypothecation to secure Cash Credit dated 22.11.2011 (Ex. H-35); 

- (xxxvii) Deed of Hypothecation of Movable Plant and Machinery dated 22.11.2011 (Ex. H-36);

- (xxxviii) Hypothecation of Book Debts dated 22.11.2011 (Ex. H-37);

- (xxxix) Omnibus Guarantees dated 22.11.2011 (Ex. H-38);

- (xl) Certified by Mr. Surinder Kumar Jain dated 22.11.2011 (Ex. H-39);

- (xli) Affidavit by Mr. Surinder Kumar Jain dated 22.11.2011 (Ex. H-40);

- (xlii) General undertaking by the M/s. Hanung Toys and Textile Ltd. dated 22.11.2011 (Ex. H-41);

- (xliii) Undertaking regarding FEMA by the M/s. Hanung Toys and Textile Ltd. dated 22.11.2011 (Ex. H-42);

- (xliv) Undertaking regarding borrowing powers of the Company by the M/s. Hanung Toys and Textile Ltd. dated 22.11.2011 (Ex. H-43);

- (xlv) Undertaking regarding ECGC and Exports by the M/s. Hanung Toys and Textile Ltd. dated 22.11.2011 (Ex. H-44).

- (xlvi) Packing Credit Form dated 28.09.2013 (Ex. H-45);

- (xlvii) Demand Promissory Note dated 28.09.2013 for Rs. 50.39 Crore (Ex. H-46);

- (xlviii) Document for Acknowledging the interest Component dated 28.09.2013 (Ex. H-47);

- (xlix) Board resolution of M/s. Hanung Processor Private Ltd. dated 28.09.2013 (Ex. H-48);

- (l) Board resolution of M/s. Pranet Softech Private Ltd. dated 28.09.2013 (Ex. H-49);

- (li) Board resolution of M/s. Sankalpa Overseas Private Ltd. dated 28.09.2013 (Ex. H-50);

- (lii) Board resolution of M/s. Hanung Furnishing Private Ltd. dated 28.09.2013 (Ex. H-51);

- (liii) Board resolution of M/s. C. K Software Private Ltd. dated 28.09.2013 (Ex. H-52);

- (liv) Board resolution of M/s. Abhinav International Private Ltd. dated 28.09.2013 (Ex. H-53);

- (lv) Agreement of Guarantee for by Mr. Ashok Kumar Bansal dated 28.09.2013 (Ex. H-54);

- (lvi) Agreement of Guarantee for by Mrs. Anju Bansal dated 28.09.2013 (Ex. H-55);

- (lvii) Agreement of Guarantee for by Ashok Kumar Bansal (HUF) dated 28.09.2013 (Ex. H-56);

- (lviii) Agreement of Guarantee for by M/s. Hanung Processor Private Ltd. dated 28.09.2013 (Ex. H-57);

- (lix) Agreement of Guarantee for by M/s. Hanung Furnishing Private Ltd. dated 28.09.2013 (Ex. H-58);

- (lx) Agreement of Guarantee by M/s. Pranet Softech Private Ltd. dated 28.09.2013 (Ex. H-59);

- (lxi) Agreement of Guarantee by M/s. Sankalpa Overseas Private Ltd. dated 28.09.2013 (Ex. H-60);

- (lxii) Agreement of Guarantee by M/s. C. K Software Private Ltd. dated 28.09.2013 (Ex. H-61);

- (lxiii) Agreement of Guarantee by M/s Abhinav International Private Ltd. dated 28.09.2013 (Ex. H-62);

- (lxiv) Agreement for extension of Charge by way of Hypothecation of Current Assets to secure Non Fund Based facilities dated 28.09.2013 (Ex. H-63);

- (lxv) Agreement for Hypothecation to secure Cash Credit dated 28.09.2013 (Ex. H-64);

- (lxvi) Deed of Hypothecation of Movable Plant and Machinery dated 28.09.2013 (Ex. H-65);

- (lxvii) Hypothecation of Book Debts dated 28.09.2013 (Ex. H-66);

- (lxviii) Agreement of Term loan for 11.50 Crore dated 28.09.2013 (Ex. H-67);

- (lxix) Agreement of Term loan for 27.57 Crore dated 28.09.2013 (Ex. H-68);

- (lxx) Agreement of Term loan for 89.32 Crore dated 28.09.2013 (Ex. H-69);

- (lxxi) General undertaking by the M/s. Hanung Toys and Textile Ltd. dated 28.09.2013 (Ex. H-70);

- (lxxii) Agreement for Inland/Foreign Bills dated 28.09.2013 (Ex. H-71);

- (lxxiii) Acknowledged sanction dated 28.09.2013 (Ex. H-72);

- (lxxiv) Statement of Accounts and the Certificates u/s 2A Banker's Books of Evidence Act, 1893 (Ex. H-73).

7.9 Mr. Jai Prakash Agiwal, Chief Manager of applicant bank no. 11 i.e. Karur Vyasya Bank has also placed reliance upon following documents:-

- (i) General Power of Attorney of applicant no. 11 in favour of the deponent (Ex. – 1);

- (ii) Board resolution of M/s. Hanung Toys and Textile Ltd. dated 07.11.2012 (Annexure I-1);

- (iii) Board resolution of M/s. Hanung Processor Private Ltd. dated 07.11.2012 (Annexure I-2);

- (iv) Board resolution of M/s, Praneet Softech Private Ltd. dated 07.11.2012 (Annexure I-3);

- (v) Board resolution of M/s. Sankalpa Overseas Private Ltd. dated 07.11.2012 (Annexure I-4);

- (vi) Board resolution of M/s. Hanung Furnishing Private Ltd. dated 07.11.2012 (Annexure I-5);

- (vii) Board resolution of M/s. C. K Software Private Ltd. dated 07.11.2012 (Annexure I-6);

- (viii) Board resolution of M/s. Abhinav International Private Ltd. dated 07.11.2012 (Annexure I-7);

- (ix) Shipment Lien Agreement dated 23.11.2012 (Annexure I-8);

- (x) Credit facility Agreement dated 23.11.2012 (Annexure I-9-colly);

- (xi) DP Note for Rs. 25 Cr. dated 23.11.2012 (Annexure I-10-colly);

- (xii) Letter of Waiver dated 23.11.2012 (Annexure I-11);

- (xiii) Certificate for execution of Documents dated 23.11.2012 (Annexure I-12);

- (xiv) Letter of Authority for Paying Insurance premium along with Letter for sharing Pari-passu Charge dated 23.11.2012 (Annexure I-13-colly);

- (xv) Letter of Indemnity dated 23.11.2012 (Annexure I-14);

- (xvi) Power Of Attorney dated 23.11.2012 (Annexure I-15);

- (xvii) Declaration – cum - undertaking dated 23.11.2012 (Annexure I-16);

- (xviii) Undertaking regarding CIBIL dated 23.11.2012 (Annexure I-17);

- (xix) Letter of Undertaking regarding negotiation of dated 23.11.2012 (Annexure I-18);

- (xx) Agreement of Guarantee for by Mr. Ashok Kumar Bansal, Anju Bansal and Ashok Kumar Bansal (HUF) dated 23.11.2012 (Annexure I-19);

- (xxi) Agreement of Guarantee by M/s. Hanung Processor Private Ltd. dated 23.11.2012 (Annexure I-20);

- (xxii) Agreement of Guarantee by M/s. Hanung Furnishing Private Ltd. dated 23.11.2012 (Annexure I-21);

- (xxiii) Agreement of Guarantee by M/s. Praneet Softtech Private Ltd. dated 23.11.2012 (Annexure I-22);

- (xxiv) Agreement of Guarantee by M/s. Sankalpa Overseas Private Ltd. dated 23.11.2012 (Annexure I-23);

- (xxv) Agreement of Guarantee by M/s. C. K Software Private Ltd. dated 23.11.2012 (Annexure I-24);

- (xxvi) Agreement of Guarantee by M/s. Abhinav International Private Ltd dated 23.11.2012 (Annexure I-25);

- (xxvii) Acknowledged Copy of Sanction dated 29.10.2012 (Annexure I-26);

- (xxviii) Duly acknowledged sanction letter dated 16.09.2013 (Annexure I-27);

- (xxix) Board resolution of M/s. Hanung Toys and Textile Ltd. dated 17.09.2013 (Annexure I-28);

- (xxx) Board resolution of M/s. Hanung Processor Private Ltd. dated 17.09.2013 (Annexure I-29);

- (xxxi) Board resolution of M/s. Praneet Softech Private Ltd. dated 17.09.2013 (Annexure I-30);

- (xxxii) Board resolution of M/s. Sankalpa Overseas Private Ltd dated 17.09.2013 (Annexure I-31);

- (xxxiii) Board resolution of M/s. Hanung Furnishing Private Ltd. dated 17.09.2013 (Annexure I-32);

- (xxxiv) Board resolution of M/s. C. K Software Private Ltd. dated 17.09.2013 (Annexure I-33);

- (xxxv) Board resolution of M/s. Abhinav International Private Ltd. dated 17.09.2013 (Annexure I-34);

- (xxxvi) Agreement for interchange ability dated 17.09.2013 (Annexure I-35);

- (xxxvii) Board resolution of M/s. Hanung Toys and Textile Ltd. dated 29.03.2014 (Annexure I-36);

- (xxxviii) Board resolution of M/s. Hanung Processor Private Ltd. dated 29.03.2014 (Annexure I-37);

- (xxxix) Board resolution of M/s. Praneet Softech Private Ltd. dated 29.03.2014 (Annexure I-38);

- (xl) Board resolution of M/s. Sankalpa Overseas Private Ltd. dated 29.03.2014 (Annexure I-39);

- (xli) Board resolution of M/s. Hanung Furnishing Private Ltd. dated 29.03.2014 (Annexure I-40);

- (xlil) Board resolution of M/s. C. K Software Private Ltd. dated 29.03.2014 (Annexure I-41);

- (xlili) Board resolution of M/s. Abhinav International Private Ltd dated 29.03.2014 (Annexure I-42);

- (xliv) Board resolution of M/s. Hanung Retail Ltd dated 29.03.2014 (Annexure I-43);

- (xlv) Board resolution of M/s. Hanung Power and Infra Ltd dated 29.03.2014 (Annexure I-44);

- (xlvi) Board resolution of M/s, Glofin Investments and finance Co. Private Ltd dated 29.03.2014 (Annexure I-45);

- (xlvii) Credit facility Agreement dated 29.03.2014 (Annexure I-46);

- (xlviii) Declaration from Guarantors dated 29.03.2014 (Annexure I-47);

- (xlix) Supplementary Agreement dated 29.03.2014 (Annexure I-48);

- (l) Agreement of Guarantee for by Mr. Ashok Kumar Bansal, Anju Bansal and Ashok Kumar Bansal (HUF) dated 29.03.2014 (Annexure I-49);

- (li) Agreement of Guarantee by M/s. Hanung Processor Private Ltd. dated 29.03.2014 (Annexure I-50);

- (lii) Agreement of Guarantee by M/s. Hanung Furnishing Private Ltd. dated 29.03.2014 (Annexure I-51);

- (liii) Agreement of Guarantee by M/s. Praneet Softech Private Ltd. dated 29.03.2014 (Annexure I-52);

- (liv) Agreement of Guarantee by M/s. Sankalpa Overseas Private Ltd. dated 29.03.2014 (Annexure I-53);

- (lv) Agreement of Guarantee by M/s. C. K Software Private Ltd. dated 29.03.2014 (Annexure I-54);

- (lvi) Agreement of Guarantee by M/s. Abhinay International Private Ltd dated 29.03.2014 (Annexure I-55);

- (lvii) Agreement of Guarantee by M/s. Hanung Retail Ltd dated 29.03.2014 (Annexure I-56);

- (lviii) Agreement of Guarantee by M/s. Hanung Power and Infra Ltd dated 29.03.2014 (Annexure I-57);

- (lix) Agreement of Guarantee by M/s. Glofin Investments and Finance Co. Private Ltd dated 29.03.2014 (Annexure I-58);

- (lx) Acknowledged Copy of Sanction dated 29.03.2014 (Annexure I-59);

- (lxi) Statement of Accounts and the Certificate u/s 2A Banker's Books of Evidence Act, 1893 (Ex. I-60).

8. So far as, evidence of defendants no. 1 to 3 are concerned, through defendants no. 2 & 3 filed their respective affidavit(s), however, their right to exhibit their documents was closed vide order dated 02.11.2019 of the Tribunal.

9. It is pertinent to note here that during the pendency of this OA, due to amalgamation / substitution of some applicants i.e. Syndicate Bank (applicant no. 3), Oriental Bank of Commerce (applicant no. 4) were Andhra Bank (applicant no. 9), their name(s) were substituted with Canara Bank, Punjab National Bank and Union Bank of India respectively.

10. Moreover, during the pendency of this OA, it was informed by the Ld. counsel for the Applicant Banks that CIRP proceedings have been initiated qua defendant no. 1 company before Ld. NCLT, Delhi. It was also informed that personal insolvency proceedings have also been initiated qua defendants no. 2 & 3 before Ld. NCLT, Delhi.

11. Heard Ld. counsels for the parties and perused the entire record.

11.1 In the present case, the defendants no. 4 to 13 are already ex parte since 09.01.2024.

11.2 Since, Defendants no.1 is under CIRP before Ld. NCLT and personal insolvency proceedings are pending qua defendants no. 2 & 3. Hence, no final order can be passed qua these defendants, at this stage. In these circumstances, now there is no need to deal with the WS of defendants no. 1 to 3 as well as Counter Claim filed by defendant no. 1.

11.3 So far as, defendants no. 4 to 13 are concerned, they are ex parte since 09.01.2024, however, Ld. counsel for defendants no. 2 to 11 appeared and addressed arguments before this Tribunal and also filed the written submissions as well. Hence, objections raised by defendants no. 2 to 11 shall be dealt with by this Tribunal with regard to defendants no. 4 to 11 only (as defendants no. 2 & 3 are before Ld. NCLT) in following paras :-

- (i) Defendants no. 4 to 11 have raised an objection that the proceedings initiated by the applicant bank qua these defendants are not maintainable in the light of moratorium imposed under Section 96 of IBC, 2016. It is stated that the resolution plan qua defendant no. 1 stands approved by CoC and said approval has also been accepted by Ld. NCLT vide order dated 28.02.2024. Moreover, as per IA No.1441/2023 filed by Ld. Resolution Professional, in terms of the Resolution Plan floated, the guarantees given by the defendants stood extinguished and annulled [copy of order dated 28.02.2024 passed by Ld. NCLT has been annexed as Ex. A-1].

This Tribunal is of the view that though it is matter of record that defendant no. 1 company is under CIRP process, however, other defendants no. 2 to 11 being personal / corporate guarantors are liable to pay the dues of the banks being guarantors of the facilities availed by defendant no. 1. Therefore, this objection is baseless, futile and untenable, accordingly, same stands dismissed.

- (ii) Next objection of defendants no.4 to 11 is that institution of petition under Section 7 of IBC against defendants no. 5 & 8 before Ld. NCLT, Delhi, which if admitted would ultimately not be proceeded against in the light of Section 14

of IBC, 2016 (copies of orders passed by Ld. NCLT have been annexed as Ex. A-4 & A-5).

I have gone through the orders passed by Ld. NCLT, Delhi which shows that notice on the said applications have been issued but same have not been admitted till date. Therefore, this objection is baseless, futile and untenable, accordingly, same stands dismissed.

(iii) Defendants have also raised an objection that the applicant bank has arbitrarily and illegally classified the accounts of the defendants as NPA, in blatant violation of RBI guidelines and settled judicial precedents.

I have gone through the entire record. It is revealed from the record that since the defendant borrower company failed to maintain financial discipline, hence, the applicant banks classified the account of the defaulting borrowers as a NPA in accordance with the directions / guidelines issued by the RBI. I do not find any illegality or irregularity in declaration of account as NPA by the applicant banks. In fact, the defendants have not denied the availment of loan facilities nor denied the execution of security documents as well. Thus, this Tribunal is of the view that the account of the borrower company has rightly been classified as NPA following RBI Rules and Guidelines. In these circumstances, this 

objection of Ld. counsel for defendants no. 4 to 11 also stands rejected.

- (iv) Ld. counsel for Defendants has also argued that continuation of the present proceedings is barred by Section 238 of IBC, which provides the provisions of the Code shall overriding effect over all other laws, including of RDB Act and the SARFAESI Act 2002.

Since, defendants no. 1 to 3 are already before Ld. NCLT, Delhi, hence, no final order is going to be passed qua these defendants. So far as, other defendants are concerned, they are not before Ld. NCLT, hence, appropriate orders shall be passed qua them, in accordance with law.

- (v) Next objection of defendants is that defendants no. 2 & 3 are the controlling persons of defendants no. 5 to 11. In particular, defendant no. 2, Mr. Ashok Kumar Bansal, is the Director and Authorized Representative of multiple Defendant entities, and he also acts as the Karta of Defendant no. 4 (HUF). Given their financial and operational control over the Defendant entities, the moratorium applicable to the directors must necessarily extend to the corporate defendants.

It is matter of record that defendants no. 2 & 3 are under personal insolvency but this fact cannot give benefit to the companies on the ground that these defendants were directors of said companies as the entity of companies are different from the directors. Accordingly, this plea of defendants is also hereby rejected.

(vi) Defendants have also raised an objection that the jurisdiction of the DRT is out rightly barred in cases where insolvency proceedings are initiated under the IBC. Once, insolvency proceedings are initiated before the NCLT, all other parallel proceedings before any other Tribunal, including the DRT, must be halted in accordance with the statutory moratorium.

In the light of discussion made in above paras, this objection also stands rejected.

11.4 On the other hand, the witnesses of applicant bank(s) have fully corroborated the averments made in the OA. Even otherwise the whole case of the applicant bank(s) is based on the documents and the respective witnesses have duly proved all these documents. The evidence filed by the applicant bank(s) gone unrebuted and there is no question of disbelieving the evidence lead by the applicant bank and applicant bank has proved its case beyond reasonable doubts. Accordingly, the Applicant is entitled to recover the entire amount, as claimed in the OA from the defendants along with pendentelite interest i.e. @13% p.a. and costs as agreed between the parties. So far as, prayer for granting penal interest @ 2% is concerned, same is hereby declined.

11.5 In this OA, applicant bank has prayed to issue recovery certificate against defendants no. 1 to 13 wherein the defendant 1 is principal borrower and defendants no. 2 & 3 are personal guarantors; defendant no. 4 is HUF and defendants no. 5 to 13 have been impleaded in the capacity of corporate guarantors.

11.6 Since CIRP proceedings have already been initiated qua Defendant no. 1 before Ld. NCLT, Delhi, hence, no final order can be passed by this Tribunal qua defendant no. 1 at this stage.

However, it is directed that applicant bank(s) shall be at liberty to revive the OA qua defendant no. 1 in case NCLT / CIRP proceedings are quashed / withdrawn in future, in accordance with law.

It is also directed that in case applicant Bank(s) receives any amount from CIRP proceedings, it shall give due adjustment of the same in the recovery proceedings.

11.7 Since defendants no. 2 & 3 are also before Ld. NCLT, Delhi, hence, no order qua defendants no. 2 & 3 also can be passed against said defendant at this stage.

However, it is directed that applicant banks shall be at liberty to revive the OA qua defendants no. 2 & 3 in case proceedings before Ld. NCLT are quashed / withdrawn in future, in accordance with law.

It is directed that in case Applicant Banks receive any amount from the proceedings pending before Ld. NCLT, they shall give due adjustment of the same in the recovery proceedings.

11.8 Consequently, TA No. 239/2022 is liable to be allowed in favour of applicant bank(s) against defendants no. 4 to 13 (being HUF and personal / corporate guarantors to the Borrower company i.e. defendant no. 1), who are liable to pay the respective dues of the applicant bank(s) along with costs and pendentelite & future interest @13% p.a., from the date of filing of present OA, till the date of payment in full.

ORDER

(i) TA No. 239/2022 stands allowed and the defendant no. 4 to 13 are directed to pay to the applicant banks no. 1 to 13, within 30 days, a sum of Rs. 2710,39,79,436.80 (Rupees Two Thousand Seven Hundred and Ten Crore Thirty Nine Lakh Seventy Nine Thousand Four Hundred Thirty Six and Paise Eighty only) as detailed below :-

<thead> <tr> <th>BANK</th> <th>O/S AMOUNT DUE AS ON 31.12.2015</th> </tr> </thead> <tbody> <tr> <td>Applicant Bank No. 1 (PNB)</td> <td>771,65,23,591.96</td> </tr> <tr> <td>Applicant Bank No. 2 (Edelweiss Reconstruction Company Ltd.)</td> <td>437,46,35,491.73</td> </tr> <tr> <td>Applicant Bank No. 3 Canara Bank (E-Syndicate Bank)</td> <td>140,97,23,212.58</td> </tr> <tr> <td>Applicant Bank No. 4 PNB (E-OBC)</td> <td>177,43,93,338.00</td> </tr> <tr> <td>Applicant Bank No. 5 (BOB)</td> <td>207,99,16,736.00</td> </tr> <tr> <td>Applicant Bank No. 6 (BOI)</td> <td>174,40,12,349.13</td> </tr> </tbody> </table>

<tr> <td>Applicant Bank No. 7<br/>(CBI)</td> <td>283,84,44,381.00</td> </tr> <tr> <td>Applicant Bank No. 8<br/>(KBL)</td> <td>41,34,00,167.00</td> </tr> <tr> <td>Applicant Bank No. 9<br/>UBI (E-Andhra Bank)</td> <td>63,53,96,201.60</td> </tr> <tr> <td>Applicant Bank No. 10<br/>(UCO)</td> <td>117,09,50,322.60</td> </tr> <tr> <td>Applicant Bank No. 11<br/>(KVB)</td> <td>41,19,26,467.51</td> </tr> <tr> <td>Applicant Bank No. 12<br/>(BOM)</td> <td>48,44,66,757.00</td> </tr> <tr> <td>Applicant Bank No. 13<br/>(EB)</td> <td>74,26,60,013.00</td> </tr> <tr> <td><b>TOTAL</b></td> <td><b>2,579,64,49,029.11</b></td> </tr> <tr> <td>Applicant Bank No. 2<br/>(Edelweiss)<br/>Loan<br/>assigned by<br/>ICICI Bank</td> <td><b>130,75,30,407.69</b></td> </tr> <tr> <td><b>TOTAL<br/>After amendment in OA</b></td> <td><b>2710,39,79,436.80</b></td> </tr> </table>

along with pendentlite and future interest @13% p.a. from the date of filing of this OA till realization of the entire dues of the Applicant Bank(s) failing which, the aforesaid amount shall be recovered from the sale of secured assets / mortgaged properties / hypothecated assets / stocks etc., if any, belonging to the defendants no. 4 to 13 only.

In case of shortfall, same shall be recovered from the movable and immovable assets of defendants no. 4 to 13 only.

(ii) Since CIRP proceedings have already been initiated qua Defendant no. 1 before Ld. NCLT, Delhi, hence, no final order can be passed by this Tribunal qua defendant no. 1 at this stage.

However, it is directed that applicant bank(s) shall be at liberty to revive the OA qua defendant no. 1 in case NCLT / CIRP proceedings are quashed / withdrawn in future, in accordance with law.

It is also directed that in case applicant Bank(s) receives any amount from CIRP proceedings, it shall give due adjustment of the same in the recovery proceedings.

- (iii) Since defendants no. 2 & 3 are also before Ld. NCLT, Delhi, hence, no order qua defendants no. 2 & 3 also can be passed against said defendant at this stage.

However, it is directed that applicant banks shall be at liberty to revive the OA qua defendants no. 2 & 3 in case proceedings before Ld. NCLT are quashed / withdrawn in future, in accordance with law.

It is also directed that in case Applicant Banks receive any amount from the proceedings pending before Ld. NCLT, they shall give due adjustment of the same in the recovery proceedings.

- (iv) It is also directed that the sale proceeds of the secured assets shall be distributed between the applicant banks, as per inter-se agreements executed amongst them.

- (v) It is also directed that the applicant shall adjust the amount(s), if any, received from the defendants during the pendency of this case.

- (vi) The recovery certificate be issued forthwith and be sent to the Recovery Officer-II, Debts Recovery Tribunal-III, Delhi.

- (vii) Parties are directed to appear before the Recovery Officer-II, DRT-III, Delhi on 17.12.2025.

- (i) Copies of final order as well as Recovery Certificate be sent to all concerned free of cost.

File be closed and consigned to records.

17.10.2025 (SHIV KUMAR - I) PRESIDING OFFICER, DRT-III, DELHI

(Pronounced in open court) Dated: 17.10.2025

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