STATE BANK OF INDIA vs M/S RADIKAL FOODS LTD AND ORS on 9 December 2025

**FINAL ORDER**

1. 1. This original application has been filed by the Applicants no. 1 to 13, on 09.02.2017, through Mr. V.K. Saxena, Assistant General Manager of Applicant No. 1 herein; Mr. Satish Chand, Manager / Principal Officer of Applicant No. 2; Mr. Charan Singh, Chief Manager / Principal Officer of Applicant No. 3; Mr. Chandra Sekhar Mishra, Chief Manager of Applicant No. 4; Mr. Anil Kumar P., Chief Manager / Principal Officer of Applicant No. 5; Mr. Priyankesh Sinha, Chief Manager / Principal Officer of Applicant No. 6; Mr. Murari Mahto, Principal Officer of Applicant No. 7; Mr. Saurabh VERma, Senior Manager / Principal Officer of Applicant No. 8; Mr. Harendra Nath Srivastav, Deputy general Manager / Principal Officer of Applicant No. 9; Ms. Seethalakshami Nagarajan, Assistant General Manager / Principal Officer of Applicant No. 10; Mr. G.L. Gupta, Asstt. General Manager / Principal Officer of Applicant No. 11; Mr. Tarun Sharma, General Manager / Principal Officer of Applicant No. 12 and Sh. G.V. Dayal Prasad, Chief Manager / Principal Officer of Applicant No. 13, being duly authorized by the respective Applicants, being their authorized representative, under Section 19 of the Recovery of Debts Due to Banks and Financial Institution Act, 1993 against the defendants no. 1 to 10, jointly and severally, for following amounts due :-

<thead> <tr> <th><b>Applicants</b></th> <th><b>Amount due<br/>(Rupees)</b></th> <th><b>Together with<br/>Pendentelite and<br/>Future interest @</b></th> </tr> </thead> <tbody> <tr> <td>Applicant No. 1</td> <td></td> <td></td> </tr> <tr> <td>(i) Cash Credit Account</td> <td>134,09,81,049.00</td> <td>10.35% p.a. with monthly rests</td> </tr> <tr> <td>(ii) Export Packing Credit A/c</td> <td>96,37,021.05</td> <td>10.35% p.a. with monthly rests</td> </tr> <tr> <td>(iii) Term Loan-I A/c</td> <td>9,73,09,521.88</td> <td>14.50% p.a. with monthly rests</td> </tr> <tr> <td>(iv) Term Loan-II A/c</td> <td>30,81,44,205.60</td> <td>13.40% p.a. with monthly rests</td> </tr> <tr> <td>(v) Term Loan-III A/c</td> <td>48,41,33,889.60</td> <td>13.35% p.a. with monthly rests</td> </tr> <tr> <td>Applicant No. 2<br/>Cash Credit A/c</td> <td>55,17,10,403.00</td> <td>13.45% p.a. with monthly rests</td> </tr> <tr> <td>Applicant No. 3<br/>Cash Credit A/c &amp; EPC A/c</td> <td>61,30,61,196.00</td> <td>13.50% p.a. with monthly rests</td> </tr> <tr> <td>Applicant No. 4<br/>Cash Credit A/c</td> <td>125,33,73,197.00</td> <td>13.70% p.a. with monthly rests</td> </tr> <tr> <td>Applicant No. 5<br/>Cash Credit A/c</td> <td>120,85,25,647.00</td> <td>11.50% p.a. with monthly rests</td> </tr> </tbody> </table>


<tr> <td>Applicant No. 6<br/>Cash Credit A/c</td> <td>37,35,39,699.58</td> <td>13.15% p.a. with<br/>monthly rests</td> </tr> <tr> <td>Applicant No. 7<br/>Cash Credit A/c</td> <td>25,97,35,458.48</td> <td>14.20% p.a. with<br/>monthly rests</td> </tr> <tr> <td>Applicant No. 8<br/>Cash Credit A/c</td> <td>33,19,86,794.00</td> <td>12.65% p.a. with<br/>monthly rests</td> </tr> <tr> <td>Applicant No. 9<br/>Cash Credit A/c</td> <td>53,87,94,482.00</td> <td>12.80% p.a. with<br/>monthly rests</td> </tr> <tr> <td>Applicant No. 10<br/>Cash Credit A/c</td> <td>32,44,25,243.60</td> <td>12.75% p.a. with<br/>monthly rests</td> </tr> <tr> <td>Applicant No. 11<br/>Cash Credit A/c &amp;<br/>Pre-Shipment<br/>Credit A/c</td> <td>38,87,55,581.15</td> <td>13.70% p.a. with<br/>monthly rests</td> </tr> <tr> <td>Applicant No. 12<br/>Term Loan 2 A/c</td> <td>21,64,93,914.16</td> <td>13.15% p.a. with<br/>monthly rests</td> </tr> <tr> <td>Applicant No. 13<br/>(i) Cash Credit<br/>Account</td> <td>105,15,33,067.00</td> <td>12.95% p.a. with<br/>monthly rests</td> </tr> <tr> <td>(ii) Term Loan-II<br/>A/c</td> <td>31,45,31,659.00</td> <td>13.20% p.a. with<br/>monthly rests</td> </tr> <tr>

<td></td> <td><b>966,66,72,029.10</b></td> </tr> </table>

till the date of actual realization and costs of this OA along with other relief(s).

1.2 It is pertinent to note here that this OA bearing no. 280/2017 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-28/2022.

2. The brief facts of the case are that the Applicant No. 1, State Bank of India is a body corporate constituted under the State Bank of India Act, 1955 and this OA has been filed through Mr. V.K. Saxena, Assistant General Manager of Applicant No. 1 who has been duly authorized in terms of General Regulations No. 76 & 77 of the State bank of India General Regulations, framed by the Reserve Bank of India while exercising the powers conferred by sub-section (3) of Section 50 of the State Bank of India Act, 1955, with the previous sanction of the Central Government, read with Notifications published in the Gazette of India dated 26.09.1959, 26.08.1972 and 02.05.1987 etc.

Applicant Bank No. 2, State Bank of Patiala, is a body corporate, constituted under the State Bank of India (Subsidiary Banks), Act, 1959 and this OA has been filed by Mr. Satish Chand, Manager / Principal Officer of Applicant No. 2 who has been duly authorized in terms of General Regulations No. 55 & 56 of the Subsidiary Banks General Regulations, framed by the State Bank of India under Section 63 of the State Bank of India (Subsidiary Banks) Act, 1959, with the previous sanction / approval of the Reserve Bank of India. Read with Notifications published in the Gazette of India dated 25.07.2016.

Applicant Bank No. 3, State Bank of Bikaner and Jaipur, is a body corporate, constituted under the State Bank of India (Subsidiary Banks), Act, 1959 and this OA has been filed by Mr. Charan Singh, Chief Manager / Principal Officer of Applicant No. 3 who is duly authorized in terms of General Regulations No. 55 & 56 of the Subsidiary Banks General Regulations, framed by the State Bank of India under Section 63 of the State Bank of India (Subsidiary Banks) Act, 1959, with the previous sanction / approval of the Reserve Bank of India. Read with Notifications published in the Gazette of India dated 29.05.2000.

Applicant Bank No. 4, State Bank of Hyderabad, is a body corporate, constituted under the Hyderabad State Bank Act No. XIX of 1350 fasli, reconstituted under State Bank of Hyderabad Act No. 79 of 1956 and the State Bank of India (Subsidiary Banks), Act No. 38 of 1959 and this OA has been filed by Mr. Chandra Sekhar Mishra, Chief Manager of Applicant No. 4 who has been duly authorized in terms of General Regulations No. 55 & 56 of the Subsidiary Banks General Regulations, framed by the State Bank of India under Section 63 of the State Bank of India (Subsidiary Banks) Act, 1959, with the previous sanction / approval of the Reserve Bank of India. Read with Notifications published in the Gazette of India dated 07.06.1986.

Applicant Bank No. 5, State Bank of Travancore, is a body corporate, constituted under the State Bank of India (Subsidiary Banks) Act, 1959 and this OA has been filed by Applicant No. 5 through Mr. Anil Kumar P., Chief Manager / Principal Officer of Applicant No. 5 who has been duly authorized in terms of General Regulations No. 55 & 56 of the Subsidiary Banks General Regulations, framed by the State Bank of India under Section 63 of the State Bank of India (Subsidiary Banks) Act, 1959, with the previous sanction / approval of the Reserve Bank of India. Read with Notifications published in the Gazette of India dated 07.06.1986.

The Applicant Bank No. 6, State Bank of Mysore, is a body corporate, constituted under the State Bank of India (Subsidiary Banks) Act, 1959 and Mr. Priyankesh Sinha, Chief Manager / Principal Officer of Applicant No. 6 is duly authorized in terms of General Regulations No. 55 & 56 of the Subsidiary Banks General Regulations, framed by the State Bank of India under Section 63 of the State Bank of India (Subsidiary Banks) Act, 1959, with the previous sanction / approval of the Reserve Bank of India. Read with Notifications published in the Gazette of India dated 07.06.1986.

The Applicant No. 7, Bank of India, is a body corporate under Banking Companies (Acquisition and Transfer of Undertaking) Act of 1970 and Mr. Murari Mahto, Principal Officer of Applicant No. 7 is the duly constituted General Attorney of the Applicant No. 7 vide the General Power of Attorney dated 05.12.2016 vide which he is fully authorized to sign, verify and constitute any suit or any legal proceedings against any person.

The Applicant No. 8, Vijaya Bank , is a body corporate constituted under Banking Companies (Acquisition and Transfer of Undertaking) Act of 1980 and Sh. Saurabh Verma, Senior Manager / Principal Officer of Applicant No. 8 is duly authorized vide Resolution passed by the Board of Directors of the Applicant Bank no. 8 vide which he is fully authorized to sign, verify and institute any suit or any legal proceedings any person. In this regard Power of Attorney dated 30.08.20214 is also filed with the OA.

The Applicant No. 9, Bank of Maharashtra, is a body corporate under Banking Companies (Acquisition and Transfer of Undertaking) Act of 1970 and Mr. Harendra Nath Srivastav, Deputy general Manager / Principal Officer of Applicant No. 9 who is duly authorized vide Resolution dated 21.12.2015 passed by the Board of Directors of the Applicant Bank no. 9 vide which he is fully authorized to sign, verify and institute any suit or any legal proceedings any person.

The Applicant Bank no. 10, IDBI Bank Limited is a body corporate constituted under the Companies Act, 1956 and a Banking Company within the Banking Regulation Act, 1949 and Ms. Seethalakshmi Nagarajan, Assistant General Manager / Principal Officer of Applicant No. 10 is the duly authorized by the Delegation of Powers dated March 2016 of Applicant No. 10 vide which she is fully authorized to sign, verify and institute any suit or any legal proceedings any person.

The Applicant No. 11, UCO Bank, is a body corporate constituted under Banking Companies (Acquisition and Transfer of Undertaking) Act of 1970 and Mr. G.L. Gupta, Asstt. General Manager / Principal Officer of Applicant No. 11 who is duly authorized vide Resolution passed by the Board of Directors of the Applicant Bank no. 11 vide which he is fully authorized to sign, verify and institute any suit or any legal proceedings any person. In this regard Power of Attorney dated 27.10.1989 is also filed with the OA.

The Applicant Bank No. 12, Export-Import Bank of India, is a corporation established under Export-Import Bank of India Act, 1981 and Mr. Tarun Sharma, General Manager / Principal Officer of Applicant No. 12 is duly constituted Attorney of the Bank vide Power of Attorney dated 08.06.2015 issued by the Chairman and Managing Director of Applicant Bank no. 12 vide which he is fully authorized to sign, verify and institute any suit or any legal proceedings any person.

The Applicant Bank No. 13/Indian Overseas Bank is a body corporate constituted under Banking Companies (Acquisition and Transfer of Undertaking) Act of 1970 and Sh. G.V. Dayal Prasad, Chief Manager / Principal Officer of Applicant No. 13 who is duly authorized vide Resolution passed by the Board of Directors of the Applicant Bank no. 13 vide which he is fully authorized to sign, verify and institute any suit or any legal proceedings any person. In this regard Power of Attorney dated 05.07.2009 has been filed with the OA.

2.1 It is stated in the OA that the Defendant no. 1 is a Company registered under the Companies Act and is engaged in the business of buying, selling, exporting, importing, distributing, stocking, procurement, processing, storing, finishing, dealing with rice and other commodities. Earlier the name of Defendant no. 1 was Radikal Overseass Pvt. Ltd. which has been changed to present name. It is further stated that the Defendant no. 1 has availed various credit facilities including Working Capital Limits / Term Loans / Bank Guarantees and from the Applicant Banks from time to time. The Applicant Bank no. 1 to 13 and Defendants no. 11 and 12 have formed the Consortium of which the Applicant Bank no. 1 is the Lead Bank. The Defendants o. 2 to 4 are the Promoters / Directors of the Defendant no. 1 and has stood surety for the Defendant no. 1. The Defendants no. 5 to 10 are the Companies registered under the Companies Act and have furnished the Corporate Guarantee to secure the due repayment of all the amounts payable by Defendant no. 1. Defendants no. 11 & 12 are the Banks which are also the part of the Consortium but have been made as Defendants, as they have not joined the other Members Bank in filing the present OA. Further, Defendants no. 1 to 4 and 6 have also mortgaged their properties with the Banks.

2.2 It is stated in the OA that the Defendants no. 1 to 5 in the year 2009 approached the Applicant No. 1 Bank for the sanction and grant of credit facilities. The said proposal of the Defendants was considered by the Applicant No. 1 Bank and following credit facilities were sanctioned to the Defendant no. 1 by Applicant No. 1 Bank vide its Sanction Letter dated 12.10.2009:- <table> <tr> <td>(i) Cash Credit<br/>sub-</td> <td>Rs. 27.0 Crore (with EPC<br/>limit of Rs. 14.50 crores and<br/>FBD Sub-Limit of Rs. 7.50<br/>crores)</td> </tr> <tr> <td>(ii) Term Loan<br/>Time</td> <td>Rs. 18.0 crore (with One<br/>Letter of Credit sub-Limit of<br/>Rs. 4.0 Crore.</td> </tr> <tr> <td>(iii) Bank Guarantee</td> <td>Rs. 1.0 Crore</td> </tr> <tr>

<td><b>Rs. 46.0 Crore</b></td> </tr> </table>

The Board of Directors of the Defendant no. 1 in its meeting dated 09.11.2009 resolved to avail the loan / credit facilities sanctioned by the Applicant No. 1 / SBI and to execute the necessary loan / security documents and to create the securities. The defendants no. 1 to 5 in token of their acceptance to the terms and conditions as detailed in the sanction letter, signed the sanction letter.

It is also stated in the OA that the Defendants no. 1 to 5 executed the following loan / security documents in favour and delivered to the Applicant No. 1 Bank:-

- (i) Agreement of loan for overall limits dated 19.11.2009 executed by Defendant no. 1;

- (ii) Agreement of Hypothecation of goods and assets dated 19.11.2009 executed by Defendant no. 1;

- (iii) Guarantee agreement dated 19.11.2009 executed by Defendants no. 2 to 4;

- (iv) Guarantee agreement dated 19.11.2009 executed by Defendant no. 5;

- (v) Letter dated 19.11.2009 regarding the individual limits executed by Defendant no. 1;

- (vi) Omnibus Counter Guarantee dated 19.11.2009 executed by Defendant no. 1 for securing the Bank Guarantee Limit of Rs. 1.0 Crore;

- (vii) Agreement cum Indemnity dated 19.11.2009 executed by Defendant no. 1 for securing the One Time Letter of Credit Facility of Rs. 4.0 crore;

- (viii) Letter executed by Defendant no. 2 with photograph thereby confirming the execution of the Guarantee Agreement dated 19.11.2009;

- (ix) Letter executed by Defendant no. 3 with photograph thereby confirming the execution of the Guarantee Agreement dated 19.11.2009;

- (x) Letter executed by Defendant no. 4 with photograph thereby confirming the execution of the Guarantee Agreement dated 19.11.2009; 

- (xi) Consent letter for disclosure dated 19.11.2009 executed by defendant no. 1;

- (xii) Consent letter for disclosure dated 19.11.2009 executed by defendants no. 2 to 4;

- (xiii) Consent letter for disclosure dated 19.11.2009 executed by defendant no. 5;

- (xiv) Undertaking dated 19.11.2009 executed by defendant no. 1.

2.3 It is stated in the OA that the Defendants no. 1 to 5 approached the Bank to enhance the One Time LC sub limit of Rs. 4.0 crore to Rs. 5.0 crore within the Term Loan of Rs. 18.0 crore and the overall limits of Rs. 46.0 crore. The applicant bank considered the request vide Sanction Letter dated 10.12.2009 which was duly accepted by the Defendants. The Board of Directors of Defendant no. 1 vide the Resolution dated 09.01.2010 and the Board of Defendant no. 5 vide the Resolution dated 09.01.2010 resolved to avail the enhancement in One Time LC Limit. The Defendant no. 1 also executed the Letter dated 17.02.2010 detailing the credit facilities, rate of interest.

2.4 It is further stated in the OA that the Defendant no. 1 availed and enjoyed the above credit facilities of Rs. 46.0 crore which includes Term Loan of Rs. 18.0 crore. Thereafter, Defendants no. 1 to 5 in the year 2010 again approached the Applicant no. 1 Bank for enhancement / sanction, renewal and grant of credit facilities. Since the total requirement of funds of the Defendant no. 1 was very high, accordingly, the Applicant no. 1 Bank agreed to enhance the limit to some extent and advised the defendant no. 1 to arrange with some other Bank / Lender to meet its requirement of balance funds. The total loan / working capital requirement of the Defendant no. 1 was assessed at Rs. 98.19 crore out of which the Applicant no. 1 Bank agreed to renew / sanction / enhance the credit facilities to the extent of Rs. 47.19 crore , the rest was made available by the others. It is further stated that the Applicant No. 1 Bank vide its sanction letter dated 24.11.2010 sanctioned the following credit facilities to Defendant no. 1:-

<table> <tr> <td>(i) Cash Credit<br/>sub-</td> <td>Rs. 27.0 Crore (with EPC<br/>limit of Rs. 14.50 crores and<br/>FBD Sub-Limit of Rs. 6.0<br/>crores)</td> </tr> <tr> <td>(ii) Term Loan (existing)<br/>Time</td> <td>Rs. 18.0 crore (with One<br/>Letter of Credit sub-Limit of<br/>Rs. 4.0 Crore.</td> </tr> <tr> <td>(iii) Bank Guarantee</td> <td>Rs. 1.0 Crore</td> </tr> <tr> <td>(iv) Forward Contract Limit</td> <td>Rs. 1.19 Crore</td> </tr> <tr>

<td><b>Rs. 47.19 Crore</b></td> </tr> </table>

The Board of Directors of the Defendant no. 1 in its meeting dated 02.12.2010 resolved to avail the loan / credit facilities sanctioned by the Applicant No. 1 / SBI and to execute the necessary loan / security documents and to create the securities. The defendants no. 1 to 5 in token of their acceptance to the terms and conditions as detailed in the sanction letter, signed the sanction letter.

It is also stated in the OA that the Defendants no. 1 to 5 executed the following loan / security documents in favour and delivered to the Applicant No. 1 Bank:-

- (i) Supplemental Agreement of loan for overall limits dated 29.07.2011 executed by Defendant no. 1; 

- (ii) Supplemental Agreement of Hypothecation of goods and assets dated 29.07.2011 executed by Defendant no. 1;

- (iii) Supplemental Deed of Guarantee dated 29.07.2011 executed by Defendants no. 2 to 4;

- (iv) Supplemental Deed of Guarantee dated 29.07.2011 executed by Defendant no. 5;

- (v) Letter dated 29.07.2011 regarding the individual limits executed by Defendant no. 1;

- (vi) Omnibus Counter Guarantee dated 29.07.2011 executed by Defendant no. 1 for securing the Bank Guarantee Limit of Rs. 1.0 Crore;

- (vii) Agreement cum Indemnity dated 29.07.2011 executed by Defendant no. 1 for securing the One Time Letter of Credit Facility of Rs. 4.0 crore;

- (viii) Letter executed by Defendant no. 2 with photograph thereby confirming the execution of the Guarantee Agreement dated 29.07.2011;

- (ix) Letter executed by Defendant no. 3 with photograph thereby confirming the execution of the Guarantee Agreement dated 29.07.2011;

- (x) Letter executed by Defendant no. 4 with photograph thereby confirming the execution of the Guarantee Agreement dated 29.07.2011.

2.5 It is further stated in the OA that the Defendant no. 1 availed and enjoyed the above credit facilities of Rs. 47.19 crore which includes Term Loan of Rs. 18.0 crore. Thereafter, Defendants no. 1 to 5 in the year 2011 again approached the Applicant no. 1 Bank for enhancement / sanction, renewal and grant of credit facilities. The total requirement of funds of the Defendant no. 1 was very high, accordingly, the Applicant no. 1 Bank agreed to enhance the limit to some extent and advised the defendant no. 1 to arrange with some other Bank / Lender to meet its requirement of balance funds. The total loan / working capital requirement of the Defendant no. 1 was assessed at Rs. 253.40 crore out of which the Applicant no. 1 Bank agreed to renew / sanction / enhance the credit facilities to the extent of Rs. 71.0 crore , the rest was made available by the others. It is further stated that the Applicant No. 1 Bank vide its sanction letter dated 28.10.2011 sanctioned the following credit facilities to Defendant no. 1:- <table> <tr> <td>(i) Cash Credit<br/>sub-</td> <td>Rs. 50.0 Crore (with EPC<br/>limit of Rs. 30.0 crores and<br/>FBD Sub-Limit of Rs. 10.0<br/>crores)</td> </tr> <tr> <td>(ii) Term Loan (existing)</td> <td>Rs. 18.0 crore</td> </tr> <tr> <td>(iii) Bank Guarantee</td> <td>Rs. 1.0 Crore</td> </tr> <tr> <td>(iv) Forward Contract Limit</td> <td>Rs. 2.0 Crore</td> </tr> <tr>

<td><b>Rs. 71.0 Crore</b></td> </tr> </table>

The Board of Directors of the Defendant no. 1 in its meeting dated 28.10.2011 resolved to avail the loan / credit facilities sanctioned by the Applicant No. 1 / SBI and to execute the necessary loan / security documents and to create the securities. The defendants no. 1 to 5 in token of their acceptance to the terms and conditions as detailed in the sanction letter, signed the sanction letter.

It is also stated in the OA that the Defendants no. 1 to 5 executed the following loan / security documents in favour and delivered to the Applicant No. 1 Bank:-

- (i) Supplemental Agreement of loan for overall limits dated 28.10.2011 executed by Defendant no. 1;

- (ii) Supplemental Agreement of Hypothecation of goods and assets dated 28.10.2011 executed by Defendant no. 1;

- (iii) Supplemental Deed of Guarantee dated 28.10.2011 executed by Defendants no. 2 to 4;

- (iv) Supplemental Deed of Guarantee dated 28.10.2011 executed by Defendant no. 5;

- (v) Letter dated 28.10.2011 regarding the individual limits executed by Defendant no. 1;

- (vi) Omnibus Counter Guarantee dated 28.10.2011 executed by Defendant no. 1 for securing the Bank Guarantee Limit of Rs. 1.0 Crore;

- (vii) Letter executed by Defendant no. 2 with photograph thereby confirming the execution of the Guarantee Agreement dated 28.10.2011;

- (viii) Letter executed by Defendant no. 3 with photograph thereby confirming the execution of the Guarantee Agreement dated 28.10.2011;

- (ix) Letter executed by Defendant no. 4 with photograph thereby confirming the execution of the Guarantee Agreement dated 28.10.2011.

2.6 It is stated in the OA that the Defendant no. 1 availed and enjoyed the above credit facilities of Rs. 71.0 crore which includes Term Loan of Rs. 18.0 crore. The Defendants no. 1 to 8 in the year 2012 again approached the Applicant no. 1, 2, 3, 4, 5, 6 & 11 Bank and the Defendant no. 11 Bank along with Punjab National Bank (the "**WC Lenders 2012**"), for enhancement / sanction / renewal and grant of credit facilities and also to form a Consortium amongst them. Accordingly, WC Lenders 2012, agreed to enhance the limit and form Consortium of Banks for the purpose of extending facilities to the Defendant no. 1 and the Applicant No. 1 Bank i.e. SBI was appointed as a Lead Bank of the Consortium. The total working capital requirements of the Defendant no. 1 was assessed at Rs. 233.40 crore out of which the WC Lenders 2012 agreed renew / sanction / enhance the credit facilities to the extent of Rs. 221.50 crore in the name of the Defendant no. 1 vide various sanction letters of the Banks. The Defendant no. 1 to 8 in token of their acceptance to the terms and conditions signed various sanction letters.

<table style="width: 100%; border-collapse: collapse;"> <thead> <tr> <th style="text-align: left;"><b>Facility (Sub-limits)</b></th> <th style="text-align: right;"><b>Amount (Rs. in Crores)</b></th> </tr> </thead> </table>

<table style="width: 100%; border-collapse: collapse;"> <tbody> <tr> <td colspan="2"><b><u>Working Capital</u></b></td> </tr> </tbody> </table>

<table style="width: 100%; border-collapse: collapse;"> <tbody> <tr> <td style="width: 60%;">Cash Credit<br/>(WCDL, EPC, FBDP,<br/>FOBMLC, etc.)</td> <td style="width: 40%; text-align: right;">213.00</td> </tr> </tbody> </table>

<table style="width: 100%; border-collapse: collapse;"> <tbody> <tr> <td style="width: 60%;">ILC/FLC/BG</td> <td style="width: 40%; text-align: right;">5.00</td> </tr> </tbody> </table>

<table style="width: 100%; border-collapse: collapse;"> <tbody> <tr> <td style="width: 60%;">Forward Contract</td> <td style="width: 40%; text-align: right;">3.50</td> </tr> </tbody> </table>

<table style="width: 100%; border-collapse: collapse;"> <tbody> <tr> <td style="width: 60%;"><b>Total</b></td> <td style="width: 40%; text-align: right;"><b>221.50</b></td> </tr> </tbody> </table>

<table style="width: 100%; border-collapse: collapse;"> <tbody> <tr> <td colspan="2"><b><u>Term Loans</u></b></td> </tr> </tbody> </table>

<table style="width: 100%; border-collapse: collapse;"> <tbody> <tr> <td style="width: 60%;">Existing Term Loan of<br/>Applicant no. 1 SBI</td> <td style="width: 40%; text-align: right;">18.00</td> </tr> </tbody> </table>

The Board of Directors of the Defendant no. 1 in its meeting dated 28.09.2012 resolved to avail the loan / credit facilities sanctioned by the WC Lenders 2012 and further resolved to execute the necessary loan / security documents and to create the securities in favour of the Consortium Banks.

It is also stated in the OA that the Defendants no. 1 to 8 executed the following joint loan / security documents in 

favour of the Consortium and delivered to the Applicant No. 1 Bank in its capacity as a Lead Bank :-

- (i) Working Capital Consortium Agreement dated 28.09.2012 executed by and between the Defendant no. 1 and the Applicant No. 1 Bank;

- (iii) Inter-se Agreement dated 28.09.2012 executed by and between the WC Lenders 2012, for the operational convenience of the Consortium;

- (iv) Letter of Authority to Lead Bank i.e. SBI dated 28.09.2012 executed by the WC Lenders 2012 except Applicant No. 1, in favour of the Led Bank i.e. Applicant no. 1 Bank / SBI;

- (v) Undertaking dated 28.09.2012 executed by the Defendant no. 1 in favour of the Applicant No. 1 Bank;

- (vi) Deed of Guarantee dated 28.09.2012 executed by Defendants no. 2 to 4;

- (vii) Deed of Guarantee dated 28.09.2012 executed by Defendant no. 5 in terms of Board Resolution dated 28.09.2012;

- (viii) Deed of Guarantee dated 28.09.2012 executed by Defendant no. 6 in terms of Board Resolution dated 28.09.2012;

- (ix) Deed of Guarantee dated 28.09.2012 executed by Defendant no. 7 in terms of Board Resolution dated 28.09.2012;

- (x) Deed of Guarantee dated 28.09.2012 executed by Defendant no. 8 in terms of Board Resolution dated 28.09.2012.

2.7 It is stated in the OA that the Defendant no. 1 availed and enjoyed the above said working capital credit facilities of Rs. 221.50 crore granted by the Consortium and also the Term Loan of Rs. 18.0 crore, granted by the Applicant No. 1 Bank. The Defendants no. 1 to 8 in the last quarter of the year 2012 again approached and requested (i) the Applicant no. 1, 12 & 13, to sanction and grant a fresh term loan amounting to Rs. 70.0 crore for the purpose of setting up a Rice Mill Plant with a capacity of 480 TBT at Garh-Mukhteshwar; and (ii) the Applicants No. 1, 2, 3, 4, 5, 6, 7, 8 & 13 Bank, for the enhancement / sanction / renewal and grant of working credit facilities to the tune of Rs. 367.0 Crore. Accordingly, (i) the Applicant Nos. 1, 12 & 13 sanctioned and granted a term loan amounting to Rs. 70.0 crore for the purpose of setting up a Rice Mill Plant with a capacity of 480 TBT at Garh-Mukhteshwar vide various sanction letters of the Banks, and (ii) the Applicant No. 1 to 7 & 13 Bank and the Defendant no. 11 Bank, agreed to enhance the working capital limits of Rs. 367.0 crore vide various sanction letters of the Banks; to and in the name of the Defendant no. 1. The Applicant no. 1 Bank i.e. SBI was appointed as a Lead Bank of the Consortium, for both Term Loan as well as Working Capital facilities. The Defendant no. 1 to 8 in token of their acceptance to the terms and conditions signed various sanction letters.

<table> <thead> <tr> <th><b>Facility (Sub-limits)</b></th> <th><b>Amount (Rs. in Crores)</b></th> </tr> </thead> <tbody> <tr> <td><b><u>Working Capital</u></b></td> <td></td> </tr> <tr> <td>Cash Credit<br/>(WCDL, EPC, FBDP,<br/>FOBNLC, etc.)</td> <td>350.00</td> </tr> <tr> <td>ILC/FLC/BG</td> <td>10.00</td> </tr> </tbody> </table>


TA-28/2022

<table><tr><td>Forward Contract</td><td>7.00</td></tr><tr><td><b>Total</b></td><td><b>367.00</b></td></tr></table>

<table><tr><td>Term Loan – fresh</td><td>70.00</td></tr><tr><td>Existing Term Loan of<br/>Applicant No. 1, SBI</td><td>18.00</td></tr><tr><td><b>Total TLs</b></td><td><b>88.00</b></td></tr></table>

The Board of Directors of the Defendant no. 1 in its meeting dated 04.02.2013 resolved to avail the loan / credit facilities sanctioned by the Applicant No. 1, 12 & 13 Bank (the "**TL Lenders 2013**") and further resolved to execute the necessary loan / security documents and to create the securities in favour of the Consortium Banks.

The Board of Directors of the Defendant no. 1 in its meeting dated 30.03.2013 resolved to avail the loan / credit facilities sanctioned by the Applicant No. 1 to 7 & 13 and Defendant no. 11 Banks (the "**WC Lenders 2013**") and further resolved to execute the necessary loan / security documents and to create the securities in favour of the Consortium Banks.

It is also stated in the OA that the Defendants no. 1 to 8, to secure the due repayment of all the amounts which may become due and payable in the fresh term loan and the renewed Working Capital facilities granted to the Defendant no. 1, executed in favour of the TL Lenders 2013 and WC Lenders 2013 and delivered to the Applicant No. 1 Bank in its capacity as a Lead Bank, the following loan / security documents :- **Term Loan amounting to Rs. 70.0 Crore (SBI share Rs. 25.0 crore, IOB share Rs. 25.0 crore and of Export-Import Bank of India share Rs. 20.0 crore)**

- (i) Term Loan Agreement dated 07.02.2013 executed by and between the Defendant no. 1 and the Applicant No. 1 Bank (for itself and for the Consortium) with regard to Term Loan Facility of Rs. 70.0 crore;

- (iii) Inter-se Agreement dated 07.02.2013 executed by and between the TL Lenders 2013, for the operational convenience;

- (iv) Letter of Authority to Lead Bank i.e. SBI dated 07.02.2013 executed by the TL Lenders 2013 except for the Applicant No. 1, in favour of the Lead Bank i.e. Applicant no. 1 Bank / SBI;

- (v) Additional Undertaking dated 07.02.2013 executed by the Defendant no. 1 in favour of the Applicant No. 1 Bank;

- (vi) Confirmation to Inter-se Agreement dated 07.02.2013 executed by the Defendant no. 1 in favour of the TL Lenders 2013;

- (vii) Deed of Guarantee dated 07.02.2013 executed by Defendant no. 2;

- (viii) Deed of Guarantee dated 07.02.2013 executed by Defendant no. 3;

- (ix) Deed of Guarantee dated 07.02.2013 executed by Defendant no. 4;

- (x) Deed of Guarantee dated 07.02.2013 executed by Defendant no. 5, in terms of its Board Resolution dated 04.02.2013; 

- (xi) Deed of Guarantee dated 26.02.2013 executed by Defendant no. 6, in terms of its Board Resolution dated 04.02.2013;

- (xii) Deed of Guarantee dated 26.02.2013 executed by Defendant no. 7, in terms of its Board Resolution dated 04.02.2013;

- (xiii) Deed of Guarantee dated 26.02.2013 executed by Defendant no. 8, in terms of its Board Resolution dated 04.02.2013;

- (xiv) Certificate issued by the Defendant no. 1 to the Lead Bank i.e. Applicant no. 1 Bank thereby certifying that the Directors of the Defendant no. 1 Company are not related to the Directors of the TL Lenders 2013.

**Working Capital Facilities amounting to Rs. 367.0 Crore**

- (i) Working Capital Consortium Agreement dated 30.03.2013 executed by and between the Defendant no. 1 and the Applicant No. 1 Bank (for itself and for the Consortium) with regard to Working Capital Facilities of Rs. 367.0 crore;

- (iii) Inter-se Agreement dated 30.03.2013 executed by and between the WC Lenders 2013, for the operational convenience of the WC Lenders 2013;

- (iv) Letter of Authority to Lead Bank i.e. SBI dated 30.03.2013 executed by the WC Lenders 2013 except Applicant No. 1, in favour of the Lead Bank i.e. Applicant no. 1 Bank / SBI;

- (v) Deed of Guarantee dated 30.03.2013 executed by Defendants no. 2 to 4;

- (vi) Deed of Guarantee dated 30.03.2013 executed by Defendant no. 5, in terms of its Board Resolution dated 30.03.2013;

- (vii) Deed of Guarantee dated 30.03.2013 executed by Defendant no. 6, in terms of its Board Resolution dated 30.03.2013;

- (viii) Deed of Guarantee dated 30.03.2013 executed by Defendant no. 7, in terms of its Board Resolution dated 30.03.2013;

- (x) Certificate issued by the Defendant no. 1 to the Lead Bank i.e. Applicant no. 1 Bank thereby certifying that the Directors of the Defendant no. 1 Company are not related to the Directors of the WC Lenders 2013.

2.8 It is further stated in the OA that the Defendant no. 1 availed and enjoyed the above said (i) working capital credit facilities of Rs. 367.90 crore granted by the WC Lenders 2013 (ii) Term Loan of Rs. 18.0 crore, granted by the Applicant No. 1 Bank and (iii) Term Loan of Rs. 70.00 Crore granted by the TL Lenders 2013. The Defendants no. 1 to 8 in the year 2013 approached and requested (i) the Applicant no. 1 Bank, to sanction and grant a fresh term loan amounting to Rs. 40.0 crore for the purpose of setting up warehouse and Silos (Silos are used in agriculture to store grains). Accordingly, the Applicant No. 1 Bank sanctioned a granted a new term loan amounting to Rs. 40.0 Crore (the "TL 3") for the abovesaid purpose, vide Sanction Letter dated 27.09.2013. Vide the said sanction letter, the applicant no. 1 Bank also enhanced various Working Capital Facilities, the joint documentation of which was executed on 31.01.2014. The term loan so granted was having a tenure of six years and the repayment was to be made by the Defendant no. 1 in 20-equal quarterly instalments, the first instalment was due on 31.12.2014 and the last being on 30.09.2019. The interest was payable as and when applied. The Defendant no. 1 to 8 in token of their acceptance to the terms and conditions signed the sanction letter dated 27.09.2013.

<table> <thead> <tr> <th><b>Facility (Sub-limits)</b></th> <th><b>Amount (Rs. in Crores)</b></th> </tr> </thead> <tbody> <tr> <td colspan="2"><b><u>Working Capital</u></b></td> </tr> <tr> <td>Cash Credit<br/>(WCDL, EPC, FBDP,<br/>FOBNLC, etc.)</td> <td>350.00</td> </tr> <tr> <td>ILC/FLC/BG</td> <td>10.00</td> </tr> <tr> <td>Forward Contract</td> <td>7.00</td> </tr> <tr>

</tr> <tr> <td colspan="2"><b><u>Term Loans</u></b></td> </tr> <tr> <td>Term Loan – TL 3-<br/>Applicant No. 1 / SBI</td> <td>40.00</td> </tr> <tr> <td>Term Loan</td> <td>70.00</td> </tr> <tr> <td>Existing Term Loan of<br/>Applicant No. 1, SBI</td> <td>18.00</td> </tr> <tr> <td><b>Total TLs</b></td> <td><b>128.00</b></td> </tr> </tbody> </table>

The Board of Directors of the Defendant no. 1 in its meeting dated 27.09.2013 resolved to avail the fresh Term Loan – TL 3 amounting to Rs. 40.0 crore sanctioned by Applicant No. 1 Bank and further resolved to execute the necessary loan /

security documents and to create the securities in favour of the Applicant No. 1 Bank. The Defendant no. 1 also passed the Resolution dated 27.09.2013 thereby authorizing the company to enter into derivative transaction with the Applicant No. 1 Bank.

It is also stated in the OA that the Defendants no. 1 to 8, to secure the due repayment of all the amounts which may become due and payable in the fresh term loan – TL 3 granted to the Defendant no. 1, executed in favour of the Applicant No. 1 Bank, the following loan / security documents :-

- (i) Supplemental Agreement of Loan for increasing the Overall Limit dated 27.09.2013, thereby supplementing the Agreement of Loan dated 19.11.2009, supplemental Agreement dated 29.07.2011, 28.10.2011 and 16.10.2012, executed by and between the Defendant no. 1 and the Applicant No. 1 Bank with regard to TL-3 facility of Rs. 40.0 crore;

- (ii) Supplemental Agreement of Hypothecation dated 27.09.2013 executed by Defendant no. 1;

- (iii) Letter dated 27.09.2013 furnished by the Applicant No. 1 Bank to the defendant no. 1 regarding individual limits, within the overall limit of Rs. 165.0 crore;

- (iv) Supplemental Deed of Guarantee for increase in overall limit dated 27.09.2013 executed by Defendant no. 2;

- (v) Consent Letter for disclosure by Banks dated 27.09.2013 executed by Defendant no. 2 in favour of Applicant No. 1 Bank;

- (vi) Supplemental Deed of Guarantee for increase in overall limit dated 27.09.2013 executed by Defendant no. 3;

- (vii) Consent Letter for disclosure by Banks dated 27.09.2013 executed by Defendant no. 3 in favour of Applicant No. 1 Bank;

- (viii) Deed of Guarantee dated 07.02.2013 executed by Defendant no. 3;

- (ix) Supplemental Deed of Guarantee for increase in overall limit dated 27.09.2013 executed by Defendant no. 4;

- (x) Consent Letter for disclosure by Banks dated 27.09.2013 executed by Defendant no. 4 in favour of Applicant No. 1 Bank;

- (xi) Supplemental Deed of Guarantee for increase in overall limit dated 27.09.2013 executed by Defendant no. 5 in terms of the Board Resolution dated 27.09.2013;

- (xii) Consent Letter for disclosure by Banks dated 27.09.2013 executed by Defendant no. 5 in favour of Applicant No. 1 Bank;

- (xiii) Supplemental Deed of Guarantee for increase in overall limit dated 27.09.2013 executed by Defendant no. 6 in terms of the Board Resolution dated 27.09.2013;

- (xiv) Consent Letter for disclosure by Banks dated 27.09.2013 executed by Defendant no. 6 in favour of Applicant No. 1 Bank;

- (xv) Supplemental Deed of Guarantee for increase in overall limit dated 27.09.2013 executed by Defendant no. 7 in terms of the Board Resolution dated 27.09.2013;

- (xvi) Consent Letter for disclosure by Banks dated 27.09.2013 executed by Defendant no. 7 in favour of Applicant No. 1 Bank;

- (xvii) Supplemental Deed of Guarantee for increase in overall limit dated 27.09.2013 executed by Defendant no. 8 in terms of the Board Resolution dated 27.09.2013;

- (xviii) Consent Letter for disclosure by Banks dated 27.09.2013 executed by Defendant no. 8 in favour of Applicant No. 1 Bank;

- (xix) Consent Letter for disclosure by Banks dated 27.09.2013 executed by Defendant no. 1 in favour of Applicant No. 1 Bank;

- (xx) Certificate issued by the Defendant no. 1 to the Lead Bank i.e. Applicant no. 1 Bank thereby certifying that the Directors of the Defendant no. 1 Company are not related to the Directors of Applicant No. 1 Bank;

- (xxi) Undertaking dated 20.07.2013 issued by the Defendant no. 1 to the Applicant No. 1 Bank thereby undertaking of the infusion of fresh equity share capital etc.;

- (xxii) Undertaking dated 20.07.2013 issued by the Defendant no. 1 to the Applicant No. 1 Bank;

- (xxiii) Undertaking-cum-Indemnity in respect of facsimile instructions for operation of current and CC account; 

- (xxiv) Omnibus Counter Guarantee dated 27.09.2013 executed by the Defendant no. 1 in favour of Applicant No. 1 Bank thereby securing the Bank Guarantee limits amounting to Rs. 5.0 crore;

- (xxv) Cancellability clause dated 27.09.2013 executed by the Defendant no. 1 in favour of Applicant No. 1 Bank.

2.9 It is stated in the OA that the Defendant no. 1 availed and enjoyed the above said (i) working capital credit facilities of Rs. 367.00 crore granted by the WC Lenders 2013; (ii) Term Loan of Rs. 18.0 crore, granted by the Applicant No. 1 Bank, (iii) Term Loan amounting to rs. 70.0 crore granted to the Defendant No. 1 by the TL Lenders 2012; and (iv) Term Loan of Rs. 40.0 crore granted by the Applicant No. 1 Bank. The Defendants no. 1 to 8 in the last quarter of the year 2013 & 2014 again approached and requested the Applicant no. 1 to 7, 10 & 13 and Defendant no. 11 (the "WC Lenders 2014") for the enhancement / sanction / renewal and grant of working capital credit facilities to the tune of Rs. 520.0 crore. Accordingly, the WC Lenders 2014 agreed to enhance the working capital limits of rs. 520.0 crore vide various sanction letters of the Banks; to and in the name of the Defendant no. 1. The Applicant no. 1 Bank i.e. SBI was appointed as a Lead Bank of the Consortium, for the Working Capital facilities. The Defendant no. 1 to 8 in token of their acceptance to the terms and conditions signed various sanction letters. The current limits are as:-

<thead> <tr> <th style="text-align: left;"><b>Facility (Sub-limits)</b></th> <th style="text-align: right;"><b>Amount (Rs. in Crores)</b></th> </tr> </thead> <tbody> <tr> <td colspan="2"><b><u>Working Capital</u></b></td> </tr> <tr> <td>Cash Credit<br/>(WCDL, EPC, FBDP,<br/>FOBNLC, etc.)</td> <td style="text-align: right;">500.00</td> </tr> </tbody> </table>

<table><tr><td>ILC/FLC/BG</td><td>13.00</td></tr><tr><td>Forward Contract</td><td>7.00</td></tr><tr><td><b>Total WC Facility</b></td><td><b>520.00</b></td></tr></table>

<table><tr><td>Consortium Term Loan</td><td>70.00</td></tr><tr><td>Existing Term Loan of<br/>Applicant No. 1, SBI</td><td>18.00</td></tr><tr><td>Existing Term Loan of<br/>Applicant No. 1, SBI</td><td>40.00</td></tr><tr><td><b>Total TLs</b></td><td><b>128.00</b></td></tr></table>

The Board of Directors of the Defendant no. 1 in its meeting dated 30.01.2014 resolved to avail the renewed working capital facilities amounting to Rs. 520.0 crore sanctioned / grated by the WC Lenders 2014 and further resolved to execute the necessary loan / security documents and to create the securities in favour of the WC Lenders 2014.

The Defendant no. 1 also furnished to the WC Lenders 2014 a certified true copy of the Shareholders Resolution passed at the extraordinary general meeting held on 24.09.2013 u/s 180 (1) (a) & 180 (1) (c) of the Companies Act, 2013.

It is further stated in the OA that the Defendants no. 1 to 8, to secure the due repayment of all the amounts which may become due and payable in the renewed Working Capital facilities granted to the Defendant no. 1, executed in favour of the WC Lenders 2014, and delivered to the Applicant No. 1 Bank in its capacity as a Lead Bank, the following loan / security documents :- 

- (i) Working Capital Consortium Agreement dated 31.01.2014 executed by and between the Defendant no. 1 and the Applicant No. 1 Bank (for itself and for the WC Lenders 2014) with regard to Working Capital Facilities of Rs. 520.0 crore;

- (iii) Inter-se Agreement dated 31.01.2014 executed by and between the WC Lenders 2014, for the operational convenience of the WC Lenders 2014;

- (iv) Letter of Authority to Lead Bank i.e. SBI dated 31.01.2014 executed by the WC Lenders 2014 except Applicant No. 1, in favour of the Lead Bank i.e. Applicant no. 1 Bank / SBI;

- (v) Deed of Guarantee dated 31.01.2014 executed by Defendants no. 2 to 4;

- (vi) Deed of Guarantee dated 31.01.2014 executed by Defendant no. 5, in terms of its Board Resolution dated 30.01.2014;

- (vii) Deed of Guarantee dated 31.01.2014 executed by Defendant no. 6, in terms of its Board Resolution dated 30.01.2014;

- (viii) Deed of Guarantee dated 31.01.2014 executed by Defendant no. 7, in terms of its Board Resolution dated 30.01.2014;

- (x) Agreement for Pledge of Shares dated 31.01.2014 executed by Defendants no. 2 to 4 thereby pledging 6,40,000 shares of face value of Rs. 10/- each, in favour of the Applicant No. 1 Bank for securing the working capital facilities granted by the WC Lenders 2014;

- (xi) Share Pledge Power of Attorney dated 31.03.2014 executed by the Defendant no. 2 in favour of the Applicant No. 1 Bank;

- (xii) Share Pledge Power of Attorney dated 31.03.2014 executed by the Defendant no. 3 in favour of the Applicant No. 1 Bank;

- (xiii) Share Pledge Power of Attorney dated 31.03.2014 executed by the Defendant no. 4 in favour of the Applicant No. 1 Bank; It is stated in the OA that the Applicant no. 1 Bank called upon the Defendant no. 1 to furnish additional security for securing the limits granted to Defendant no. 1. Accordingly, the Defendant no. 1 requested the Defendant no. 9 to furnish corporate guarantee to the extent of Rs. 165.0 crore for securing the credit facilities granted by the Applicant no. 1 Bank to the Defendant no. 1. The Defendant no. 9 agreed to furnish the corporate guarantee to the extent of Rs. 165.00 crore and executed & supplied to the Applicant no. 1 Bank the following documents:-

- (i) Certified true copy of the Board Resolution of the Defendant no. 9 dated 14.04.2014 thereby resolving to furnish Corporate Guarantee for securing the credit facilities granted to the Defendant no. 1 by the Applicant no.1 Bank;

- (ii) Deed of Guarantee dated 14.04.2014 executed by the Defendant no. 9;

- (iii) Certificate dated 20.12.2014 executed by the Defendant no. 9 thereby certifying the change of name of Defendant no. 9 from "Radikal 

Warehousing Private Limited" to "Radikal Global Foods (India) Private Limited".

2.10 It is further stated in the OA that the Defendant no. 1 availed and enjoyed the above said (i) working capital credit facilities of Rs. 520.00 crore granted by the WC Lenders 2014; (ii) Term Loan of Rs. 18.0 crore, granted by the Applicant No. 1 Bank, (iii) Term Loan amounting to Rs. 70.0 crore granted to the Defendant No. 1 by the TL Lenders 2013; and (iv) Term Loan of Rs. 40.0 crore granted by the Applicant No. 1 Bank. The Defendants no. 1 to 8 in the last quarter of the year 2014 again approached and requested the Applicant no. 1 to 10 & 13 and Defendants no. 11 & 12 (the "WC Lenders") for the enhancement / sanction / renewal and grant of working capital credit facilities to the tune of Rs. 610.0 crore. Accordingly, the WC Lenders agreed to enhance the working capital limits of Rs. 610.0 crore vide various sanction letters of the Banks; to and in the name of the Defendant no. 1. The Applicant no. 1 Bank i.e. SBI was appointed as a Lead Bank of the Consortium, for the Working Capital facilities. The Defendant no. 1 to 8 in token of their acceptance to the terms and conditions signed various sanction letters. The current limits are as:- <table> <thead> <tr> <th><b>Facility (Sub-limits)</b></th> <th><b>Amount (Rs. in Crores)</b></th> </tr> </thead> <tbody> <tr> <td><b><u>Working Capital</u></b></td> <td></td> </tr> <tr> <td>Cash Credit<br/>(WCDL, EPC, FBDP,<br/>FOB NLC, etc.)</td> <td>590.00</td> </tr> <tr> <td>Non-Fund Based</td> <td>13.00</td> </tr> <tr> <td>Forward Contract</td> <td>7.00</td> </tr> <tr> <td><b>Total WC Facility</b></td>

</tr> </tbody> </table>

**Term Loans**

<table><tr><td>Consortium Term Loan</td><td>70.00</td></tr><tr><td>Existing Term Loan of Applicant No. 1, SBI</td><td>18.00</td></tr><tr><td>Existing Term Loan of Applicant No. 1, SBI</td><td>40.00</td></tr><tr><td><b>Total TLs</b></td><td><b>128.00</b></td></tr></table>

It is further stated in the OA that the Defendants no. 1 to 8, to secure the due repayment of all the amounts which may become due and payable in the renewed Working Capital facilities granted to the Defendant no. 1, executed in favour of the WC Lenders, and delivered to the Applicant No. 1 Bank in its capacity as a Lead Bank, the following loan / security documents in terms of the Board Resolution passed by the Defendant no. 1 dated 12.05.2014 :-

- (i) Working Capital Consortium Agreement dated 13.05.2014 executed by and between the Defendant no. 1 and the Applicant No. 1 Bank (for itself and for the WC Lenders 2014-B) with regard to Working Capital Facilities of Rs. 610.0 crore;

- (iii) Inter-se Agreement dated 13.05.2014 executed by and between the WC Lenders 2014-B, for the operational convenience of the WC Lenders 2014-B;

- (iv) Confirmation by the Defendant no. 1 dated 13.05.2014 to the Interse Agreement amongst WC Lenders 2014-B; 

- (v) Letter of Authority to Lead Bank i.e. SBI dated 13.05.2014 executed by the WC Lenders 2014-B except Applicant No. 1, in favour of the Lead Bank i.e. Applicant no. 1 Bank / SBI;

- (vi) Deed of Guarantee dated 13.05.2014 executed by Defendants no. 2;

- (vii) Deed of Guarantee dated 13.05.2014 executed by Defendants no. 3;

- (viii) Deed of Guarantee dated 13.05.2014 executed by Defendants no. 4;

- (x) Deed of Guarantee dated 13.05.2014 executed by Defendant no. 6, in terms of its Board Resolution dated 12.05.2014;

- (xi) Deed of Guarantee dated 13.05.2014 executed by Defendant no. 7, in terms of its Board Resolution dated 12.05.2014;

- (xii) Deed of Guarantee dated 13.05.2014 executed by Defendant no. 8, in terms of its Board Resolution dated 12.05.2014;

- (xiii) Agreement for Pledge of Shares dated 13.05.2014 executed by Defendants no. 2 to 4 thereby pledging 6,40,000 shares of face value of Rs. 10/- each, in favour of the Applicant No. 1 Bank for securing the working capital facilities granted by the WC Lenders 2014-B;

- (xiv) Omnibus Counter Guarantee dated 13.05.2014 executed by the Defendant no. 1 in favour of the Applicant No. 1 Bank for the Bank Guarantee limits granted to the Defendant no. 1 by the WC Lenders.

2.11 It is stated in the OA that the Defendant no. 1 availed and enjoyed the above said (i) working capital credit facilities of Rs. 610.00 crore granted by the WC Lenders, (ii) Term Loan of Rs. 18.0 crore, granted by the Applicant No. 1 Bank, (iii) Consortium Term Loan amounting to Rs. 70.0 crore granted by the TL Lenders 2013; and (iv) Term Loan of Rs. 40.0 crore granted by the Applicant No. 1 Bank. The Defendants no. 1 to 8 in the year 2014 again approached and requested the Applicant no. 1 to 11 & 13 and Defendants no. 11 & 12 (the "WC Lenders") for the enhancement / sanction / renewal and grant of working capital credit facilities to the tune of Rs. 675.0 crore. Accordingly, the WC Lenders agreed to enhance the working capital limits of Rs. 675.0 crore vide various sanction letters of the Banks; to and in the name of the Defendant no. 1. The Applicant no. 1 Bank i.e. SBI was appointed as a Lead Bank of the Consortium, for the Working Capital facilities. The Defendant no. 1 to 8 in token of their acceptance to the terms and conditions signed various sanction letters. The limits sanctioned are as under:- **Working Capital Limits**

<thead> <tr> <th>Name of the Bank</th> <th>Facility</th> <th>Amount in Rs. (Crore)</th> </tr> </thead> <tbody> <tr> <td>State Bank of India (Applicant No. 1)</td> <td>Fund Based and Non-Fund Based WC Limit</td> <td>107.00</td> </tr> <tr> <td>State Bank of Patiala (Applicant No. 2)</td> <td>Fund Based and Non-Fund Based WC Limit</td> <td>42.00</td> </tr> <tr> <td>State Bank of Bikaner &amp; Jaipur (Applicant No. 3)</td> <td>Fund Based and Non-Fund Based WC Limit</td> <td>51.00</td> </tr> </tbody> </table>


<tr> <td>State Bank of Hyderabad<br/>(Applicant No. 4)</td> <td>Fund Based and Non-Fund Based WC Limit</td> <td>91.00</td> </tr> <tr> <td>State Bank of Travancore<br/>(Applicant No. 5)</td> <td>Fund Based and Non-Fund Based WC Limit</td> <td>86.00</td> </tr> <tr> <td>State Bank of Mysore<br/>(Applicant No. 6)</td> <td>Fund Based and Non-Fund Based WC Limit</td> <td>28.00</td> </tr> <tr> <td>Bank of India<br/>(Applicant No. 7)</td> <td>Fund Based and Non-Fund Based WC Limit</td> <td>20.00</td> </tr> <tr> <td>Vijaya Bank<br/>(Applicant No. 8)</td> <td>Fund Based and Non-Fund Based WC Limit</td> <td>25.00</td> </tr> <tr> <td>Bank of Maharashtra<br/>(Applicant No. 9)</td> <td>Fund Based and Non-Fund Based WC Limit</td> <td>40.00</td> </tr> <tr> <td>IDBI Bank<br/>(Applicant no. 10)</td> <td>Fund Based and Non-Fund Based WC Limit</td> <td>25.00</td> </tr> <tr> <td>UCO Bank<br/>(Applicant no. 11)</td> <td>Fund Based and Non-Fund Based WC Limit</td> <td>30.00</td> </tr> <tr> <td>Indian Overseas Bank<br/>(Applicant no. 13)</td> <td>Fund Based and Non-Fund Based WC Limit</td> <td>75.00</td> </tr> <tr> <td>Oriental Bank of Commerce<br/>(Defendant no. 11)</td> <td>Fund Based and Non-Fund Based WC Limit</td> <td>30.00</td> </tr> <tr> <td>Catholic Syrian Bank<br/>(Defendant no. 12)</td> <td>Fund Based and Non-Fund Based WC Limit</td> <td>25.00</td> </tr> <tr> <td colspan="2"><b>Total</b></td>

</tr> </table>

**Term Loans**

Consortium Term Loan (Term Loan-II) 70.00

Existing Term Loan of Applicant No. 1, SBI (Term Loan-I) 18.00

Existing Term Loan of Applicant No. 1, SBI (Term Loan-III) 40.00

**Total TLs 128.00**

It is stated in the OA that the Board of Directors of the Defendant no. 1 in its meeting dated 21.06.2014 resolved to avail the renewed / enhanced the working capital facilities amounting to Rs. 675.00 crore sanctioned / granted by the WC Lenders 2014-C and further resolved to execute the necessary loan/security documents and to create the securities in favour of the WC Lenders 2014-C.

It is further stated in the OA that the Defendants no. 1 to 8, to secure the due repayment of all the amounts which may become due and payable in the renewed Working Capital facilities granted to the Defendant no. 1, executed in favour of the WC Lenders, and delivered to the Applicant No. 1 Bank in its capacity as a Lead Bank, the following loan / security documents :-

- (i) Working Capital Consortium Agreement dated 24.06.2014 executed by and between the Defendant no. 1 and the Applicant No. 1 Bank (for itself and for the WC Lender) with regard to Working Capital Facilities of Rs. 675.0 crore;

- (iii) Inter-se Agreement dated 24.06.2014 executed by and between the WC Lenders 2014-C, for the operational convenience of the WC Lenders 2014-C;

- (iv) Confirmation by the Defendant no. 1 dated 24.06.2014 to the Interse Agreement amongst WC Lenders 2014-C;

- (v) Letter of Authority to Lead Bank i.e. SBI dated 24.06.2014 executed by the WC Lenders 2014-C


except Applicant No. 1, in favour of the Lead Bank i.e. Applicant no. 1 Bank / SBI;

- (vi) Deed of Guarantee dated 24.06.2014 executed by Defendants no. 2;

- (vii) Deed of Guarantee dated 24.06.2014 executed by Defendants no. 3;

- (viii) Deed of Guarantee dated 24.06.2014 executed by Defendants no. 4;

- (x) Deed of Guarantee dated 24.06.2014 executed by Defendant no. 6, in terms of its Board Resolution dated 21.06.2014;

- (xi) Deed of Guarantee dated 24.06.2014 executed by Defendant no. 7, in terms of its Board Resolution dated 21.06.2014;

- (xii) Deed of Guarantee dated 24.06.2014 executed by Defendant no. 8, in terms of its Board Resolution dated 21.06.2014;

- (xiii) Agreement for Pledge of Shares dated 24.06.2014 executed by Defendants no. 2 to 4 thereby pledging 6,40,000 shares of face value of Rs. 10/- each, in favour of the Applicant No. 1 Bank for securing the working capital facilities granted by the WC Lenders 2014-C;

- (xiv) Share Pledge Power of Attorney dated 24.06.2014 executed by Defendants no. 2 to 4 in favour of Applicant no. 1 Bank;

- (xv) Omnibus Counter Guarantee dated 24.06.2014 executed by the Defendant no. 1 in favour of the Applicant No. 1 Bank for the Bank Guarantee limits granted to the Defendant no. 1 by the WC Lenders 2014-C.

2.12 It is stated in the OA that the Defendant no. 1 has availed various term loans and working capital limits amounting to Rs. 190.0 crore from the Applicant No. 1 SBI and has executed the loans / securities to secure the same, as detailed hereinabove. It is also stated that the Defendant no. 1 has confirmed the balance towards the Applicant No. 1 in its audited balance sheet as on 31.03.2015. The details of rate of interest as well as penal interest agreed between the parties; details of rate of interest changed/charged by Applicant No. 1, after its sanction; details of the accounts in the name of Defendant no. 1 as well as total amount due from Defendant no. 1 in its all the accounts, have been given in Para 5(JJ) of the OA. It is further stated that the Applicant No. 1 Bank has issued the demand notice / Recall Notice dated 12.05.2016 which was duly served through post / courier as is evident from postal receipts / courier receipts duly received by the Defendants but despite having the notice, the Defendants have not paid the dues of the Applicant No. 1.

2.13 It is stated in the OA that the Applicant no. 2 / SBOP has sanctioned CC Hypothecation limit of Rs. 50.0 crore. Out of this limit, the Defendant no. 1 put to avail to the extent of Rs. 42.0 crore with EPC and FBD sub limit vide its Sanction Letter dated 16.06.2014 which was duly accepted by the Defendants. The Board of Directors of the Company has also passed the Resolution dated 21.06.2014 to avail the credit facilities. To secure the credit facilities, the Borrower has executed the documents on 24.06.2014, as detailed above. On 02.04.2015, the Defendant no. 1 has confirmed the balance of Rs. 43,60,70,543/-. The Defendant no. 1 from time to time also acknowledged the liability. The Applicant no. 2 Bank has also written letters dated 29.12.2015, 27.01.2016 and 03.02.2016 for the regularization of the account of defendant no. 1. The defendant no. 1 sent the mail dated 02.12.2015 about the meeting of the Consortium.

The details of rate of interest agreed between the parties; details of rate of interest changed/charged by Applicant No. 2, after its sanction; details of the accounts in the name of Defendant no. 1 as well as total amount due from Defendant no. 1 in its all the accounts, have been given in Para 5(KK) of the OA. It is further stated that the Applicant No. 2 Bank has issued the notice u/s 13(2) of SARFAESI Act on 09.09.2016 which was duly received by the Defendants but despite having the notice, the Defendants have not paid the dues of the Applicant No. 2.

2.14 It is stated in the OA that the Applicant no. 3 / SBBJ vide the Sanction Letter dated 25.01.2014 had sanctioned the working capital limits of Rs. 51.0 crore, which were secured by the defendant no. 1 in the Joint Consortium Documents dated 24.06.2014. It is also stated that the said limits of Rs. 51.0 crore were enhanced by the Applicant No. 2 Bank vide its sanction Letter 31.03.2015 to Rs. 62.00 crore and sanctioned the following limits:- <table><tbody><tr><td>Cash Credit (Hyp. Of Stocks and Book-Debts)</td><td>Rs. 46.00 Crore</td></tr></tbody></table>

EPC-Exclusive

Rs. 10.00 crore

FBP/FBD sub-limit of Rs. 6.5 Crore within the CC/EPC Limits <table><tr><td>Bank Guarantee</td><td>Rs. 4.00 crore</td></tr><tr><td>Forward contract</td><td>Rs. 2.00 crore</td></tr><tr><td><b>Total</b></td><td><b>Rs. 62.00 crore</b></td></tr></table>

The defendants no. 1 to 9 executed the delivered to the Applicant no. 3, the following Loan / Security documents:-

- (i) Board Resolution dated 21.03.2015 of the Defendant no. 1 inter alia for availment of loan/credit facilities and creating the security for the facilities granted by the Applicant no. 3 Bank;

- (ii) Agreement of loan dated 01.04.2015 containing the broad terms and conditions governing the credit facilities for overall limits executed by the Defendant no. 1 thereby agreeing to the terms and conditions governing the credit facilities / limits;

- (iii) Deed of Hypothecation dated 01.04.2015 executed by Defendant no. 1 in favour of the Applicant Bank;

- (iv) Letter regard the grant of individual limits dated 01.04.2015 executed by the defendant no. 1;

- (v) Deed of Guarantee dated 01.04.2015 executed by the defendants no. 2 to 4 in favour of the Applicant no. 3 / SBBJ along with Consent Clause and Affidavits;

- (vi) Deed of Guarantee dated 01.04.2015 executed by the defendant no. 5, in terms of the Board Resolution dated 31.03.2015 in favour of the Applicant no. 3 along with Consent Clause;

- (vii) Deed of Guarantee dated 01.04.2015 executed by the defendant no. 6, in terms of the Board Resolution dated 31.03.2015 in favour of the Applicant no. 3 along with Consent Clause;

- (viii) Deed of Guarantee dated 01.04.2015 executed by the defendant no. 7, in terms of the Board Resolution dated 31.03.2015 in favour of the Applicant no. 3 along with Consent Clause;

- (ix) Deed of Guarantee dated 01.04.2015 executed by the defendant no. 8, in terms of the Board Resolution dated 31.03.2015 in favour of the Applicant no. 3 along with Consent Clause;

- (x) Deed of Guarantee dated 01.04.2015 executed by the defendant no. 9, in terms of the Board Resolution dated 31.03.2015 in favour of the Applicant no. 3 along with Consent Clause;

- (xi) Consent Clause dated 01.04.2015 executed by the defendant no. 1;

- (xii) Acknowledgment of having received the Loan / Security Documents dated 01.04.2015 by the Defendant no. 1;

- (xiii) Certificate of End use of funds dated 01.04.2015 by the defendant no. 1.

On 31.03.2015, the Defendant no. 1 has confirmed the balance in its various accounts with Applicant No. 3 Bank. The details of rate of interest agreed between the parties; details of rate of interest changed/charged by Applicant No. 3, after its sanction; details of the accounts in the name of Defendant no. 1 as well as total amount due from Defendant no. 1 in its all the accounts, have been given in Para 5(LL) of the OA. It is further stated that the Applicant No. 3 Bank has issued the Demand Notice / Recall Notice dated 07.03.2016 which was duly received by the Defendants but despite having the notice, the Defendants have not paid the dues of the Applicant No. 3. Moreover, the Applicant no. 3 / SBBJ has also issued notice under Section 13(2) of the SARFAESI Act on 10.03.2016 which was duly served by the Defendants.

2.15 It is stated in the OA that the Applicant no. 4 / SBH vide the Sanction Letter dated 01.01.2014 had sanctioned the working capital limits of Rs. 91.0 crore, which were secured by the defendant no. 1 in the Joint Consortium Documents dated 24.06.2014. It is also stated that the said limits of Rs. 91.0 crore were enhanced by the Applicant No. 4 Bank vide its sanction Letter 27.03.2015 to Rs. 101.00 crore and sanctioned the following limits:- <table> <tbody> <tr> <td>Cash Credit (Hyp. Of Stocks and Crore</td> <td>Rs.</td> <td>100.00</td> </tr> <tr> <td>Book-Debts with EPC / PCFC/ FDBP/FUBD/EBR sub-limit of Rs. 50.0 crore</td> <td></td> <td></td> </tr> <tr> <td>Forward contract crore</td> <td>Rs.</td> <td>1.00</td> </tr> <tr> <td><b>Total crore</b></td> <td><b>Rs.</b></td>

</tr> </tbody> </table>

It is further stated that the defendants no. 1 to 9 executed the delivered to the Applicant no. 4, the following Loan / Security documents:-

- (i) Board Resolution dated 26.03.2015 of the Defendant no. 1 inter alia for availment of loan/credit facilities and creating the security for the facilities granted by the Applicant no. 4 Bank;

- (ii) Agreement of loan dated 27.03.2015 containing the broad terms and conditions governing the credit facilities for overall limits executed by the Defendant no. 1 thereby agreeing to the terms and conditions governing the credit facilities / limits;

- (iii) Deed of Hypothecation dated 27.03.2015 executed by Defendant no. 1 in favour of the Applicant Bank;

- (iv) Letter regarding the grant of individual limits dated 27.03.2015 executed by the Defendant no. 1;

- (v) Deed of Guarantee dated 27.03.2015 executed by the defendants no. 2 to 4 in favour of the Applicant no. 4 along with Consent Clause;

- (vi) Deed of Guarantee dated 27.03.2015 executed by the defendant no. 5, in terms of the Board Resolution dated 26.03.2015 in favour of the Applicant no. 4 along with Consent Clause;

- (vii) Deed of Guarantee dated 27.03.2015 executed by the defendant no. 6, in terms of the Board Resolution dated 26.03.2015 in favour of the Applicant no. 4 along with Consent Clause;

- (viii) Deed of Guarantee dated 27.03.2015 executed by the defendant no. 7, in terms of the Board Resolution dated 26.03.2015 in favour of the Applicant no. 4 along with Consent Clause;

- (ix) Deed of Guarantee dated 27.03.2015 executed by the defendant no. 8, in terms of the Board Resolution dated 26.03.2015 in favour of the Applicant no. 4 along with Consent Clause;

- (x) Deed of Guarantee dated 27.03.2015 executed by the defendant no. 9, in terms of the Board Resolution dated 26.03.2015 in favour of the Applicant no. 4 along with Consent Clause;

- (xi) Borrower's Consent for Disclosure executed by Defendant no. 1 dated 27.03.2015.

It is also stated in the OA that the defendant no. 1 on 10.03.2015 and 01.06.2015 has confirmed the balance in accounts with Applicant No. 4 Bank. The details of rate of interest agreed between the parties; details of rate of interest changed/charged by Applicant No. 4, after its sanction; details of the accounts in the name of Defendant no. 1 as well as total amount due from Defendant no. 1 in its all the accounts, as on the date of filing of the Suit, have been given in Para 5(MM) of the OA. It is further stated that the Applicant No. 4 Bank has issued the Demand Notice / Recall Notice dated 02.11.2016 through its Counsel, but despite having the notice, the Defendants have not paid the dues of the Applicant No. 4.

2.16 It is stated in the OA that the Applicant no. 5 / SBT vide the Sanction Letter dated 19.11.2013 had sanctioned the working capital limits of Rs. 86.0 crore, which were secured by the defendant no. 1 in the Joint Consortium Documents dated 24.06.2014. It is also stated that the said limits of Rs. 86.0 crore were enhanced by the Applicant No. 5 Bank vide its sanction Letter 22.04.2015 to Rs. 96.00 crore and sanctioned the following limits:- <table><tbody><tr><td>Cash Credit (Hyp. Of Stocks and Crore</td><td>Rs.</td><td>90.00</td></tr><tr><td>Book-Debts with EPC / PCFC/FDBP/FUBD/</td><td></td><td></td></tr></tbody></table>

EBR sub-limit of Rs. 45.0 crore

<table><tr><td>Bank Guarantee</td><td>Rs. 4.00 crore</td></tr></table>

<table><tr><td>Forward contract</td><td>Rs. 2.00 crore</td></tr></table>

<table><tr><td><b>Total</b></td><td><b>Rs. 96.00 crore</b></td></tr></table>

It is further stated that the defendants no. 1 to 9 executed the delivered to the Applicant no. 5, the following Loan / Security documents:-

- (i) Board Resolution dated 08.05.2015 of the Defendant no. 1 inter alia for availment of loan/credit facilities and creating the security for the facilities granted by the Applicant no. 5 Bank;

- (ii) Agreement of loan dated 09.05.2015 containing the broad terms and conditions governing the credit facilities for overall limits executed by the Defendant no. 1 thereby agreeing to the terms and conditions governing the credit facilities / limits;

- (iii) Deed of Hypothecation dated 09.05.2015 executed by Defendant no. 1 in favour of the Applicant Bank;

- (iv) Letter regarding the grant of individual limits dated 09.05.2015 executed by the defendant no. 1;

- (v) Deed of Guarantee dated 09.05.2015 executed by the defendants no. 2 to 4 in favour of the Applicant no. 5;

- (vi) Deed of Guarantee dated 09.05.2015 executed by the defendant no. 5, in terms of the Board Resolution dated 08.05.2015 in favour of the Applicant no. 5;

- (vii) Deed of Guarantee dated 09.05.2015 executed by the defendant no. 6, in terms of the Board Resolution dated 08.05.2015 in favour of the Applicant no. 5;

- (viii) Deed of Guarantee dated 09.05.2015 executed by the defendant no. 7, in terms of the Board Resolution dated 08.05.2015 in favour of the Applicant no. 5;

- (ix) Deed of Guarantee dated 09.05.2015 executed by the defendant no. 8, in terms of the Board Resolution dated 08.05.2015 in favour of the Applicant no. 5;

- (x) Deed of Guarantee dated 09.05.2015 executed by the defendant no. 9, in terms of the Board Resolution dated 08.05.2015 in favour of the Applicant no. 5.

It is also stated in the OA that the defendant no. 1 on 24.01.2014 and 03.04.2014 has confirmed the balance in accounts as on 31.03.2013 and 31.03.2014 respectively maintained with Applicant No. 5 Bank. The details of rate of interest agreed between the parties; details of rate of interest changed/charged by Applicant No. 5, after its sanction; details of the accounts in the name of Defendant no. 1 as well as total amount due from Defendant no. 1 in its all the accounts, as on the date of filing of the Suit, have been given in Para 5(NN) of the OA. It is further stated that the Applicant No. 5 Bank has issued the Demand Notice / Recall Notice dated 17.05.2016 which was duly received by the Defendants, but despite having the notice, the said Defendants have not paid the dues of the Applicant No. 5.

2.17 It is stated in the OA that the Applicant no. 6 / SBM has sanctioned CC Hypothecation limit of Rs. 28.0 Crore with a EPC/FBDP/FUBP sub-limit of Rs. 14.0 crore vide its Sanction Letter dated 06.01.2014. The said sanction letter contains the broad terms and conditions which were duly accepted by the Defendants. To secure these credit facilities, the Borrower has executed the Consortium Documents on 24.06.2014, as detailed hereinabove. It is also stated that the Defendant no. 1 on 04.04.2013 has confirmed the balance of Rs. 14,90,16,173.00 as on 31.03.2013. The defendant no. 1 on 16.05.2014 has also confirmed the balance of Rs. 27,82,88,428.00 as on 31.03.2014. Further more, the Defendant no. 1 from time to time also has acknowledged its liability. In this regard letter dated 28.05.2014 of defendant no. 1 regarding the balances in the accounts of defendant no.1 is also relevant.

The details of rate of interest agreed between the parties; details of rate of interest changed/charged by Applicant No. 6, after its sanction; details of the accounts in the name of Defendant no. 1 as well as total amount due from Defendant no. 1 in its all the accounts, as on the date of filing of the Suit, have been given in Para 5(OO) of the OA. It is further stated that the Applicant No. 6 Bank has issued the Demand Notice / Recall Notice dated 06.05.2016 which was duly received by the Defendants through post, but despite having the notice, the said Defendants have not paid the dues of the Applicant No. 6.

2.18 It is stated in the OA that the Applicant no. 7 / BOI has sanctioned the WCL of Rs. 10.0 crore vide Sanction Letter dated 28.03.2013 which was duly accepted by the Defendants in terms of the terms and conditions contained therein. The Defendant no. 10 furnished the additional security to secure the due repayment which may become due and payable to the Applicant No. 7 by the Defendant no. 1 in the WCL of Rs. 10.0 crore on 30.03.2013 in terms of the Board Resolution dated 30.03.2013. Thereafter, the Applicant No. 7 Bank enhanced the credit facilities from Rs. 10.0 crore to Rs. 20.0 crore vide Sanction Letter dated 27.01.2014. The Defendant no. 1 and the Borrower and the Defendant no. 10 as the guarantor has signed the sanction letter in terms of the acceptance of the terms and conditions. The Defendant no. 10 has also extended its guarantee to secure the enhanced limit of Rs. 20.0 crore and executed the deed of guarantee dated 31.01.2014 in terms of the Board Resolution dated 30.01.2014. Thus, the liability of the Defendant no. 10 to pay its dues to the Applicant No. 7 is thus joint and several of the defendant no. 1.

The details of rate of interest agreed between the parties; details of rate of interest changed/charged by Applicant No. 7, after its sanction; details of the accounts in the name of Defendant no. 1 as well as total amount due from Defendant no. 1 in its all the accounts, as on the date of filing of the Suit, have been given in Para 5(PP) of the OA. It is further stated that the Applicant No. 7 Bank has issued the Demand Notice / Recall Notice dated 21.10.2015 which was duly received by the Defendants through post, but despite having the notice, the said Defendants have not paid the dues of the Applicant No. 7.

2.19 It is stated in the OA that the Applicant no. 8 / Vijaya Bank has sanctioned the CC limits of Rs. 25.0 crore vide Sanction Letter dated 07.05.2014 which was duly accepted by the Defendants in terms of the terms and conditions contained therein. The said sanction letter contains the broad terms and conditions which were duly accepted by the 

Defendants. To secure the credit facilities, the Borrower has executed the Consortium documents on 24.06.2014, as detailed hereinabove.

The details of rate of interest agreed between the parties; details of rate of interest changed/charged by Applicant No. 8, after its sanction; details of the accounts in the name of Defendant no. 1 as well as total amount due from Defendant no. 1 in its all the accounts, as on the date of filing of the Suit, have been given in Para 5(QQ) of the OA. It is further stated that the Applicant No. 8 Bank has issued the Notice under Section 13(2) of the SARFAESI Act dated 24.10.2016 which was duly received by the Defendants through post, but despite having the notice, the said Defendants have not paid the dues of the Applicant No. 8.

2.20 It is stated in the OA that the Applicant no. 9 / BOM has sanctioned CC hypothecation limit of Rs. 40.0 crore with a PC/PCFC/FOBP/FOBN/FOBD/EBD sub-limit of Rs. 20.0 crore vide its Sanction Letter dated 12.04.2014 which contains the broad terms and conditions and same were duly accepted by the Defendants. To secure these credit facilities, the Borrower has executed the Consortium documents on 24.06.2014, as detailed hereinabove and the Defendant no. 1 from time to time also has acknowledged the liability.

The details of rate of interest agreed between the parties; details of rate of interest changed/charged by Applicant No. 9, after its sanction; details of the accounts in the name of Defendant no. 1 as well as total amount due from Defendant no. 1 in its all the accounts, as on the date of filing of the Suit, have been given in Para 5(RR) of the OA.

It is further stated that the Applicant No. 9 Bank has issued the Demand Notice / Recall Notice dated 04.05.2015 which was duly received by the Defendants through post, but despite having the notice, the said Defendants have not paid the dues of the Applicant No. 9.

2.21 It is stated in the OA that the Applicant no. 10 / IDBI Bank has sanctioned CC hypothecation limit of Rs. 25.0 crore with a LER sub-limit of Rs. 1.0 crore vide its Sanction Letter dated 04.01.2014. It is further stated that the Borrower has accepted the terms vide its Board Resolution dated 06.01.2014. It is also stated that the said Sanction Letter contains the broad terms and conditions and same were duly accepted by the Defendants. To secure these credit facilities, the Borrower has executed the Consortium documents on 24.06.2014, as detailed hereinabove and the Defendant no. 1 from time to time also has acknowledged the liability.

The details of rate of interest agreed between the parties; details of rate of interest changed/charged by Applicant No. 10, after its sanction; details of the accounts in the name of Defendant no. 1 as well as total amount due from Defendant no. 1 in its all the accounts, as on the date of filing of the Suit, have been given in Para 5(SS) of the OA.

It is further stated that the Applicant No. 10 Bank has issued the (i) Demand Notice / Recall Notice dated 05.01.2016 to the Defendant no. 1 (postal receipts of the same annexed); (ii) Demand Notice / Recall Notice dated 16.03.2016 to the Defendant no. 5 to 8 (postal receipts of the same annexed); (iii) Demand Notice / Recall Notice dated 16.03.2016 to the Defendants no. 2 & 3 along with Letter for Regularization of payment of default [notice for publication of names and photographs of the Promoters / Guarantors along with postal receipts (2 in no.) are annexed]; which were duly received TA-28/2022

by the Defendants, but despite having the notice, the said Defendants have not paid the dues of the Applicant No. 10.

2.22 It is also stated in the OA that the Applicant no. 11 / UCO Bank has sanctioned overall limit of Rs. 30.00 Crore as under:- <table><tr><td>Cash Credit (Hyp. Of Stock and Stocks and Book-Debts</td><td>Rs. 20.00 crore</td></tr></table>

With EPC/FBD/FBD sub-limit Of Rs. 20.0 crore

<table><tr><td>EPC</td><td>Rs. 10.00 crore</td></tr><tr><td>With FBD/FBD sub-limit of<br/>Rs. 5.0 crore</td><td></td></tr></table>

<table><tr><td><b>Total</b></td><td><b>Rs. 30.00 crore</b></td></tr></table>

Vide its Sanction Letter dated 22.05.2014 and revalidated vide letter dated 01.09.2014 vide letter dated 01.09.2014. The defendant no. 1 sought permission of the Applicant No. 11 Bank for holding on operations and short renewal, the said permission was granted by the Applicant No. 11 Bank vide its letter dated 05.10.2015 vide which an enhanced exposure of Rs. 3.00 crore was extended to the Defendant no. 1. The said Sanction Letter contains the broad terms and conditions and same were duly accepted by the Defendants. To secure these credit facilities, the Borrower has executed the Consortium documents on 24.06.2014, as detailed hereinabove and the Defendant no. 1 from time to time also has acknowledged the liability.

The details of rate of interest agreed between the parties; details of rate of interest changed/charged by Applicant No. 11, after its sanction; details of the accounts in the name of Defendant no. 1 as well as total amount due from Defendant no. 1 in its all the accounts, as on the date of filing of the Suit, have been given in Para 5(TT) of the OA.

It is further stated that the Applicant No. 10 Bank has issued the Demand Notice / Recall Notice dated 26.04.2016 which was duly received by the Defendants (postal receipts are annexed), but despite having the notice, the said Defendants have not paid the dues of the Applicant No. 11.

2.23 It is also stated in the OA that the Applicant no. 12 Bank has sanctioned the Term Loan II of Rs. 20.0 crore under the total consortium exposure of Rs. 70.0 crore vide its Sanction Letter dated 31.01.2013. The Borrower has accepted the terms thereof vide its Board Resolution dated 04.02.2013. The said Sanction Letter contains the broad terms and conditions and same were duly accepted by the Defendants. To secure these credit facilities, the Borrower has executed the Consortium documents on 07.02.2013, as detailed hereinabove and the Defendant no. 1 from time to time also has acknowledged the liability. The loan was repayable in 22-equal quarterly instalments commencing from 31.12.2014. It was also agreed that in the event of the default in the payment of the instalments, the entire loan amount with interest will become due and payable on the call of the Applicant No. 12 Bank.

The details of rate of interest agreed between the parties; details of rate of interest changed/charged by Applicant No. 12, after its sanction; details of the accounts in the name of Defendant no. 1 as well as total amount due from Defendant no. 1 in its all the accounts, as on the date of filing of the Suit, have been given in Para 5(UU) of the OA.

It is further stated that the Defendant no. 1 has confirmed the balance dated 11.04.2014 and 09.04.2015 admitting and acknowledging the liability. The Applicant No. 12 Bank has issued the Demand Notice / Recall Notice dated 12.05.2016 which was duly received by the Defendants (postal receipts are annexed). The Applicant Bank also issued the notice dated 11.08.2016, to the Guarantors / Defendants (the notice along with postal receipts and tracking reports are annexed), which was duly received by the defendants but despite having the notice, the said Defendants have not paid the dues of the Applicant No. 12.

2.24 It is further stated in the OA that the Applicant no. 13 /IOB has sanctioned:-

- (i) Term Loan amounting to Rs. 25.0 crore vide its Sanction Letter dated 31.03.2012 out of total consortium total loan limit of Rs. 70.0 crore granted by the Defendant no.1 by the TL Lenders 2013 i.e. Applicant No. 1, 12 & 13;

- (ii) Working Capital Limits of Rs. 75.0 crore, vide its Sanction Letter dated 12.06.2014. It is stated that to secure these credit facilities, the Borrower has executed the Consortium documents on 24.06.2014, as detailed hereinabove.

- (iii) Besides sanctioning the aforesaid limits, the Applicant no. 13 / IOB has also sanctioned an ad-hoc CC limit of Rs. 10.0 crore for a limited period of 75-days against hypothecation of stocks and book-debts upto 90-days, vide its Sanction Letter dated 30.03.2015. The defendant no. 1 has to adjust the outstanding towards this Ad-hoc limit within a period of 75-days. The said sanction letter contains the broad terms and conditions which was duly accepted by the Defendants.

It is stated in the OA that the Defendants no. 1 to 8 and 10 to secure the due repayment of all the amounts which may become due and payable in the above mentioned Ad-hoc CC limit of Rs. 10.0 crore sanctioned by the Applicant No. 13/IOB, executed and delivered to Applicant No. 13/IOB, the following loan / security documents:-

- (i) Board Resolution dated 20.03.2015 of the Defendant no. 1 inter alia for the availment of the Ad-hoc CC limit of Rs. 10.0 crore from the Applicant no. 13 Bank;

- (ii) Demand Promissory Note dated 20.03.2015 for a sum of Rs. 10.0 crore along with DP Delivery letter dated 20.03.2015;

- (iii) Supplemental Deed of Hypothecation dated 20.03.2015 executed by the Defendant no. 1 in favour of the Applicant Bank;

- (iv) Letter of Hypothecation dated 20.03.2015 executed by the Defendant no. 1 in favour of the Applicant Bank;

- (v) Hypothecation of Book-Debts dated 20.03.2015 executed by the Defendant no. 1 in favour of the Applicant Bank;

- (vi) Letter of Hypothecation for open advances dated 20.03.2015 executed by the Defendant no. 1 in favour of the Applicant Bank;

- (vii) Letter of Hypothecation for negotiating bills or Bills of Exchange dated 20.03.2015 executed by the Defendant no. 1 in favour of the Applicant Bank;

- (viii) Deed of Guarantee dated 20.03.2015 executed by the Defendant no. 2 in favour of the Applicant no.

13 / IOB along with Consent / Authorization Letter for Disclosure dated 20.03.2015;

(ix) Deed of Guarantee dated 20.03.2015 executed by the Defendant no. 3 in favour of the Applicant no. 13 / IOB along with Consent / Authorization Letter for Disclosure dated 20.03.2015;

(x) Deed of Guarantee dated 20.03.2015 executed by the Defendant no. 4 in favour of the Applicant no. 13 / IOB along with Consent / Authorization Letter for Disclosure dated 20.03.2015;

(xi) Deed of Guarantee dated 20.03.2015 executed by the Defendant no. 5 in favour of the Applicant no. 13 / IOB in terms of the Board Resolution dated 20.03.2015 along with Consent / Authorization Letter for Disclosure dated 20.03.2015;

(xii) Deed of Guarantee dated 20.03.2015 executed by the Defendant no. 6 in favour of the Applicant no. 13 / IOB in terms of the Board Resolution dated 20.03.2015 along with Consent / Authorization Letter for Disclosure dated 20.03.2015;

(xiii) Deed of Guarantee dated 20.03.2015 executed by the Defendant no. 7 in favour of the Applicant no. 13 / IOB in terms of the Board Resolution dated 20.03.2015 along with Consent / Authorization Letter for Disclosure dated 20.03.2015;

(xiv) Deed of Guarantee dated 20.03.2015 executed by the Defendant no. 8 in favour of the Applicant no. 13 / IOB in terms of the Board Resolution dated 20.03.2015 along with Consent / Authorization Letter for Disclosure dated 20.03.2015;

(xv) Deed of Guarantee dated 20.03.2015 executed by the Defendant no. 10 in favour of the Applicant no. 13 / IOB in terms of the Board Resolution dated 20.03.2015 along with Consent / Authorization Letter for Disclosure dated 20.03.2015;

- (xvi) Consent / Authorization Letter for Disclosure dated 20.03.2015 executed by Defendant no. 1;

- (xvii) Undertaking dated 30.06.2014 executed by defendant no. 1.

It is stated in the OA that the Ad-hoc CC limit of Rs. 10.0 crore was to be paid by the Defendant no. 1 in 75-days from 20.03.2015, but the Defendant no. 1 failed to do so. Accordingly, the Applicant No. 13 Bank debited the running CC Account of the Defendant no. 1, by overdrawing the same.

The details of rate of interest agreed between the parties; details of rate of interest changed/charged by Applicant No. 13, after its sanction; details of the accounts in the name of Defendant no. 1 as well as total amount due from Defendant no. 1 in its all the accounts, as on the date of filing of the Suit, have been given in Para 5(VV) of the OA.

It is further stated that the Defendant no. 1 has confirmed the balance of Rs. 24,98,14,557.00 in the Term Loan Account and Rs. 47,01,00,077.82 in the CC Account, as on 31.03.2014 maintained with the Applicant No. 13 Bank vide Balance Confirmation certificate dated 08.04.2014. The same were confirmed by defendants no. 2 to 8 & 10.

The Applicant No. 13 Bank has issued the Demand Notice / Recall Notice dated 17.06.2016 which was duly received by the Defendants but despite having the notice, the said Defendants have not paid the dues of the Applicant No. 13.

2.25 It is stated in the OA that as per the stock statement and other books submitted by the Defendant no. 1 to the Auditor appointed by the Applicant Banks, as on 31.10.2015, the Defendant no. 1 has the stocks of Rs. 793.86 crore. In this regard, the copy of the Report dated 09.02.2016 of M/s Shah Jindal & Associates, Chartered Accountants who conducted the stock audit is annexed by the bank. As per the information furnished by the Defendant no. 1, the Defendant no. 1 is keeping the stocks at various godowns [details given in Para 5(WW) of the OA].

It is also stated in the OA that Defendant no. 1 hypothecated in favour of the Applicant Banks all the current assets, stocks, vehicles, movable assets, bills, invoices etc. etc. for securing various credit facilities [details of Facility and Ranking of Charge given in Para 5(XX) of the OA].

It is stated in the OA that to further secure the due repayment of all the amounts which may become due and payable in the accounts of the Defendant no. 1, the Defendants no. 1 to 4 and 6 are the owners and have mortgaged their respective properties with the Applicant Banks with the deposit of original title deeds [details of mortgaged properties as well as their respective title deeds etc. have been given in Para 5(YY) (i) to (iv) (belonging to defendant no. 1); (v) & (vi) (belonging to defendant no. 2); (vii) (belonging to defendant no. 6); (viii) to (x) (belonging to defendant no. 4); (xi) (belonging to defendant no. 2); (xii)

(belonging to defendant no. 3) and (xiii) (belonging to defendants no. 3 & 4) of the OA].

It is stated in the OA that the Defendants no. 2, 3, 4 & 6 are the owners of various properties and the respective defendants delivered the original title deeds to the Bank and have thus created the charge in the favour of the Bank. It is also stated that the Applicants are entitled to recover their dues with the sale of these properties. [details of the properties have been given in Para 5(ZZ) (i) & (ii) – Property of Defendant no. 3; (iii) – Property of Defendant no. 4; (iv) to (vi) Property of Defendant no. 2; (vii) – Property of Defendant no. 4; (viii) – Property of Defendant no. 4; (ix) – Property of Defendant no. 4; (x) – Property of Defendant no. 6; (xi), (xi) & (xii) – Property of Defendant no. 4; (xiii) to 19 – Property of Defendant no. 6 of the OA]

2.26 It is stated in the OA that the Guarantee executed by the Defendants no. 2 to 10 are securing the following credit facilities granted to the Defendant no. 1 by the Applicant Banks:- **TL1** means Term Loan 1 by Applicant no. 1 for Rs. 18.0 crore; **TL2** means Term Loan 2 by Applicants No. 1, 12, 13 for Rs. 70.0 crore; **TL3** means Term Loan 3 by Applicant No. 1 for Rs. 40.0 crore; **WC Facility** means Working Capital Limits of Rs. 675.0 crore by the WC Lenders 2014-C

<thead> <tr> <th>Guarantee</th> <th>Facility Secured</th> </tr> </thead> <tbody> <tr> <td>Defendants no. 2 to 8</td> <td>TL1, TL2, TL3 and WC Facility</td> </tr> <tr> <td>Defendant no. 9</td> <td>Applicant No. 1's Facility upto Rs. 165.0 crore</td> </tr> </tbody> </table>

<table border="1"><tr><td>Defendant no. 10</td><td>Applicant No. 6 and 13<br/>Bank's Outstanding of Rs.<br/>162,58,00,184.48</td></tr></table>

[details given in Para 5(AAA) of the OA].

It is also stated that the Defendants no. 2 to 4 have also pledged the equity shares held by them in the Defendant no. 1 company to secure the borrowings of the defendant no. 1 [details of pledged shares and the facilities secured by the pledge of shares of defendants no. 2 to 4 have been given in Para 5(BBB) of the OA].

It is further stated in the OA that the Defendant no. 1 availed and enjoyed the Credit Facilities / Working Capital Loans of Rs. 675.0 crore as detailed hereinabove and granted by the Applicant Banks no. 1 to 11 & 13 and Defendants no. 11 & 12. Defendant no. 1 also availed and enjoyed the additional limits from the Applicant Banks, as detailed above. Moreover, Defendant no. 1 also availed and enjoyed the Term Loan 1 of Rs. 18.0 crore and Term Loan 3 of Rs. 40.0 crore sanctioned and granted by the Applicant Bank No. 1, Term Loan 2 of Rs. 70.0 crore granted by Applicants No. 1, 12 & 13.

It is further stated that at the request of the Defendant no. 1, the Applicant Banks from time to time issued the LCs, however, have to pay the Bills received under the LCs, hence, the Defendant no. 1 was under obligation to retire the Bills which the Defendant no. 1 has failed. Thus, the Applicant Bank has debited the amount so paid under the LCs to the Cash Credit Account / Current Account, maintained by the Defendant no. 1 with the Applicant Banks no. 1 to 11 and 13. Similar is the position of the Bank Guarantees issued by the Applicant Banks at the request of the Defendant no. 1, On invocation, the Defendant no. 1 has failed to pay the amount which become payable on the invocation of the Bank Guarantee. The Applicant Banks have paid the amount under the Bank Guarantee by debit of the cash credit account opened in the name of Defendant no. 1 and the Cash Credit Account of the Defendant no. 1 with the Applicant Banks is the open and running account.

It is stated in the OA that all the Applicant Banks had opened the accounts in the name of the defendant no. 1 in their books and copies of the accounts duly certified under the Banker Book of Evidence with Certificate are filed with the OA.

It is also stated in the OA that the Defendants from time to time has admitted and acknowledged the liabilities towards the Bank. The Defendant no. 1 in the Annual Balance Sheets has admitted and acknowledged the liability towards the Applicant Banks. Defendant no. 1 has also admitted and acknowledged the liability in :-

- (i) Letter dated 02.04.2015 for Applicant No. 2 Bank;

- (ii) Letter dated 21.03.2015 for Applicant No. 3 Bank;

- (iii) Letter dated 01.06.2015 for Applicant No. 4 Bank;

- (iv) Letter dated 03.04.2014 for Applicant No. 5 Bank;

- (v) Letter dated 16.05.2014 for Applicant No. 6 Bank;

- (vi) Letter dated 09.04.2015 for Applicant No. 12 Bank;

- (vii) Letter dated 08.04.2014 for Applicant No. 14 Bank.

Further more, Defendant no. 1 in the Balance Sheet as on 31.03.2015 has admitted the liability of Rs. 112,02,73,554/- in the 03 Term Loans granted by the Applicant No. 1, Applicant no. 12 Exim Bank and Applicant No. 13 IOB. Defendant no. 1 also admitted liability of Rs. 698,23,45,607/- in the Working Capital / Cash Credit Limits made available by the Applicants No. 1 to 13 and the Defendants no. 11 & 12. [Balance Sheet dated 03.09.2015, for the year ending 31.03.2014 and 31.03.2013 of defendant no. 1 are also annexed]. Thus, Defendant no. 1 has admitted and acknowledged the liability in the communications and balance sheet drawn from year to year.

2.27 Since, the Defendant no. 1 miserably failed to adhere to financial discipline of the Applicant Banks, hence, the accounts of the Defendant no. 1 with the Applicant Banks become irregular and sticky. In these circumstances, various Recall Notice / Notice under Section 13(2) of the SARFAESI Act were also served by the Applicant Banks and despite the said Notices, the Defendant no. 1 failed to pay the amounts, which were due and payable by the Defendants, hence, the Applicants Banks were compelled to file this OA for recovery of their dues from the Defendants no. 1 to 10.

3. Notices of this O.A. were issued to the defendants and some of the defendants appeared through their respective counsel(s) and filed their WS as well. It is matter of record that the respective WS(s) were filed by some of the defendants as detailed below:-

- (i) Defendants no. 1, 2 & 4(ii) filed a common WS along with Counter Claim. It is pertinent to note here that Defendant no. 4(ii) has already been impleaded as main Defendant no. 2 in this OA.

- (ii) Defendants no. 3 & 4(i) have also filed their WS. It is pertinent to note here that Defendant no. 4(i) has already been impleaded as main Defendant no. 3 in this OA.

- (iii) Defendants no. 4(iii), (v) & (vi) have filed a common WS (being LRs of Defendant no. 4).

- (iv) Defendant no. 5 has also filed its separate WS;

- (v) Defendants no. 6 & 9 have filed common WS;

- (vi) Defendants no. 11 and 12 have also filed their respective WS(s). It is pertinent to note here that Defendants no. 11 and 12 have been impleaded as Proforma Defendants and no relief has been claimed qua these defendants by the Applicant Banks.

So far as, Defendants no. 4(iv), and 7 to 10 are concerned, they did not chose to file any WS.

3.1 In their common WS, Defendants no. 1, 2 & 4(ii) have raised following objections:-

- (i) that the OA has not been signed, verified not instituted by duly authorized and competent persons;

- (ii) that the OA is based on false, fabricated and manufactured documents, hence, no liability can be fastened upon the answering defendants on the basis of any of the alleged documents filed by the Applicant Banks. It is stated that the alleged balance confirmations were obtained by the Applicant Banks are totally vitiated and void as the applicant banks exercised undue influence and misrepresentation upon the Defendants to obtain their signature on the alleged documents which were proforma documents. Further more, the statement of accounts / ledgers are also fabricated and incorrect. It is also stated that the alleged guarantees are void being without any consideration and have been got signed by exercising undue influence and misrepresentation upon the Defendants. It is further stated that the said documents were blank and in a stipulated proforma. Thus, the alleged guarantees stand discharged in view of the illegal acts of misfeasance and malfeasance and omission and commission committed by the Applicant Banks;

- (iii) that the subject matter of this OA does not fall within the jurisdiction of this Tribunal;

- (iv) That the alleged limits were sanctioned after a long delay used to defeat the very purpose for which the sanction was sought besides causing losses on account of cost overrun or lack of required working capital;

- (v) That the alleged accounts maintained by the Applicant Banks are disputed by the answering defendants stating that that applicants have wrongly debited the said alleged accounts with amounts which were never disbursed and excessive and usurious rates of interest which were never agreed upon by the Defendant no. 1.

So far as Counter Claim filed by Defendants no. 1, 2 and 4(ii) is concerned, it is stated in the Counter Claim that this Counter Claim is being preferred by the answering defendants against the Applicants No. 1 to 13 Banks (hereinafter called the Non-Claimant Banks) against their deliberate acts of malfeasance and misfeasance and omission and commissions which have caused grave losses to the Defendants and complete financial ruin of the Defendant no. 1 / Claimant company.

It is stated in the Counter Claim that the Non-claimant Banks have acted in breach of their contractual obligations and the statutory dues enjoyed upon them by law and have gone to the extent of acting with malafides in causing the fudging of the financials in the reports of TEV study so as to achieve a predetermined result of u-viability, sought by them from the TEV consultants so as to avoid the rehabilitation of the Defendant no. 1 company and cause its complete ruin.

The answering defendants have given details about the incorporation of Defendant no. 1 and its business, as well as its growth from FY 2009-10 to 2015-16. It is further stated that taking into account the capital investment on the expansion project and the third plant as also on the storage facilities and the existing capital expenditure, the turnover had been estimated to increase from Rs. 1250.0 crore in FY2014 to Rs. 1962.0 crore in FY 2015.

It is mainly contended in the Counter Claim that the Non-claimant Banks are guilty of the following acts of omission and commission and have malafide ruined the entire business of the Defendant no. 1 company:-

- (a) The delay in processing of the enhanced working capital of Rs. 1250.0 crore, the need for which had arisen in view of the expansion projects and the fixed investments incurred by the Defendant no. 1 company on the same;

- (b) Delayed sanction of the enhanced Working Capital after period of more than 10-months and that too for an arbitrary deceased amount of Rs. 970.0 crore;

- (c) Non-disbursal of the enhanced working capital by the consortium member banks despite the sanction;

- (d) Failure to follow the RBI guidelines on JLF for revival of the Defendant no. 1 Company;

- (e) Deliberate acts of malfeasance and misfeasance by getting the TEV study and the stock audit reports manipulated so as to malafide declare the Defendant no. 1 company as unviable.

[details given in Para 1 to 129 of Counter Claim].

It is stated in the counter claim that it is evident that the requirement of the enhanced working capital ought to have been processed by the non-claimant no. 1 Bank within a reasonable time. The processing of the said requirement had clearly commenced in May 014, though the requirement was intimated to the non-claimant no. a Bank much earlier in March, 2014. In any case the said requirement ought to have been processed and sanctioned before the commencement of the procurement season for FY 2014 i.e. October 2014. However, non-claimant no. 1 Bank deliberately, delayed the processing and sanction of the working capital with the malafide intention that Defendant no. 1 should lose the procurement season. It was fully aware that if the procurement season is lost, the defendant no.1 company would be hurled into a negative feedback loop, and would incur irreversible and grave losses. To add to the aforesaid situation, it eventually sanctioned a lesser amount of working capital by arbitrarily taking lesser holding periods than the ones it had itself adopted in the previous years. Even the said reduced figures were sanctioned at a time when their relevant would be lost i.e. barely eight days before the end of FY for which the sanction was granted. Even the said sanction were violated by all the non-claimant banks by not providing the disbursement on the pretext of the requirement of individual sanctions. This was opposed to the concept of the consortium finance and it would be a laugh worthy situation that first the lead bank of the consortium would take one year to process and sanction the enhancement and thereafter, each individual bank of the consortium would carry out their own appraisals and seek sanction individually. The non-claimant banks are therefore clearly guilty of breach of their contractual obligations. The banks are expected to act fairly and good faith while dealing with their constituents / borrowers. In the present case, the very fact that the sanction was provided after 10-months but was never disbursed proves, the breach of the contractual obligations on the part of the non-claimant banks.

Further, the non-claimant banks were under a statutory duty under the JLF guidelines to have duly executed the JLF agreement and take steps for rectification by infusing fresh funds into the company. This was the inevitable course which ought to have been adopted by the non-claimant banks in view of the stress being on account of the delay in sanction and non-disbursal of the working capital. In fact, when the sanction was in place, the enhanced working capital ought to have been released in the natural course and in any event as a measure of rectification. The non-claimant banks have clearly acted contrary to the said guidelines and the settled norms of banking. They deliberately let the Defendant no. 1 Company slip into a negative feedback loop knowing fully well that each the losses would become irreversible and would keep on 

mounting. Such an approach was not fair nor in good faith. It was in fact subversive of the guidelines of the RBI having a statutory force. Likewise, after the CAP was formulated on 13.08.2015, the failure to provide even 50% of the enhanced working capital was clearly violative of the JLF guidelines and the doctrine of lenders liability. The non-claimants having thus caused the complete ruination of the Defendant no. 1 Company are thus liable for the losses caused to the Defendant no.1 Company.

Further, the non-claimant no. 1 Bank and its errant officials have clearly acted with malafide at all stages in delaying the processing and sanction of the enhancements and thereafter in sabotaging the JLF procedure wherein the report of the TEV study was malafide caused by them to be altered by fudging the financials with the objective of achieving a predetermined result of unviability. Such an act is not only opposed to the fiduciary duty owed by the banks towards the borrowers but is opposed to the doctrine of lenders liability as also public money.

As a result of the aforesaid acts of the non-claimant Banks, the Defendant no. 1 has been subjected to grave losses which it is entitled to recover from the non-claimant banks as under:- (a) Losses caused during operations in the year 2015-16 and 2016-16

As a result of the failure of the non-claimant Banks to provide the enhanced working capital, the Defendant no. 1 Company was not able to achieve the sale target based on the enhanced capacity and the additional tie ups on the sales front, infrastructure etc. Further, on account of the lack of the working capital, the Defendant no. 1 had to incur extra costs on arranging the necessary inventory or raw material or also on the sale. Consequently, the defendant no. 1 suffered the losses to Rs. 403,06,25,515/- for the FY 2015-16 and Rs. 344,83,36,449/- for FY 2016-17. filed a common WS along with Counter Claim. It is pertinent to note here that Defendant no. 4(ii) has already been impleaded as main Defendant no. 2 in this OA.

(b) Loss of profit

Besides the actual losses suffered by the Defendant no. 1 company as a result of the necessary working capital not having provided, the Defendant no. 1 company was not able to achieve the projected profits which is also attributable to the aforesaid acts of omission and commission, and misfeasance and malfeasance. Therefore, the defendant no. 1 is entitled to recover the loss of profit for the years FY 2014-15 till 2019-20. It is stated that the aforesaid profit figures were duly evaluated by the applicant banks in the financial evaluations undertaken by them. Hence, defendant no. 1 is entitled to Rs. 10,53,96,00,000/- calculated for the aforesaid period.

(c) Loss of complete Capital Asset Value of the Defendant no. 1 / Counter Claimant Company As a result of the aforesaid acts of omission and commission, and misfeasance and malfeasance, on the part of the applicant banks, the factory of the Defendant no. 1 had to be shut down and has been lying shut since 2016. Consequently, because of the aforesaid, the plant and machines have got rusted and has been reduced to junk. The defendant no. 1 asses the loss on the account of Rs. 162,47,37,863/- which the defendant no. 1 is entitled to recover from the applicant banks.

(d) Loss of equity investment of the company The defendants no. 2 to 4 had made substantial investments of the Defendant no. 1 Company amounting to Rs. 257,21,91,980/- by way of equity contribution and unsecured loans. As a result of the aforesaid acts of omission and commission, and misfeasance and malfeasance, on the part of the applicant banks, leading to the closure of the unit, the aforesaid equity investment and contributions have been lost and reduced to zero. Hence, the defendants no. 2 to 4 are entitled to recover the said amount of Rs. 257,21,91,980/- from the applicant banks.

(e) Loss of receivables

As a result of the aforesaid acts of omission and commission, and misfeasance and malfeasance, on the part of the applicant banks, leading to the closure of the unit, the debtors of the defendant no. 1 company had through the years 2014-15 onwards started sensing that the defendant no. 1 company was in a state of deep financial crisis as the defendant no. 1 was unable to make regular supplies to such debtors i.e. the stockiest and retailers who stopped repaying their debts owed by them to the Defendant no. 1 company. This was made known from the applicant banks from time to time but the applicant banks never rectified their aforesaid acts. As a result, the Defendant no. 1 company had lost receivables of Rs. 238,53,12,350/- and it has not even been left with any resources to prosecute such claims in the court of law. Therefore, the defendant no. 1 company is entitled to recover the said amount of Rs. 238,53,12,350/- from the Applicant Banks.

(f) Loss of reputation and goodwill and brand value The Defendant no. 1 Company had incurred a substantial expenses of Rs. 80,12,99,376/- on the advertising and marketing expenses for building its brand value. The Defendant no. 1 assets its brand value at Rs. 16,01,16,930/- besides the aforesaid expenses incurred by it. As a result of the aforesaid acts of omission and commission, and misfeasance and malfeasance, on the part of the applicant banks leading to the closure of the unit, the Defendant no. 1 has suffered grave loss of reputation as it was not able to meet the market demands since 2014-15. Thereafter, after the closure of the unit, it has suffered irreparable loss, its reputation and the said brand image has been completely tarnished. Therefore, the defendant no. 1 is entitled to recover the said amounts of Rs. 96,14,16,306/- from the applicant banks.

Therefore, the Defendants are entitled to recover an amount of Rs. 25,56,22,20,463/- from the Applicant Banks and Defendants no. 11 & 12 jointly and severally and accordingly raising the counter claim for the said amount on the Applicant Banks and Defendants no. 11 and 12.

In the light of above, it has been prayed to declare and hold that the Defendant no. 1 / claimant is entitled to the counter claim of Rs. 25,56,22,20,463/- from the Applicant Banks and Defendants no. 11 & 12 jointly along with other relief(s).

Further, in support of their WS and Counter Claim, the Defendants no. 1, 2 and 4(ii) have relied upon the following documents :-

- (i) Final TEV report by Dun & Bradstreet dated 15.03.2016 (Annexure A);

- (ii) TEV 2^nd draft study report by Dun & Bradstreet dated 22.02.2016 (Annexure B);

- (iii) TEV 1^st draft study report by Dun & Bradstreet dated 30.01.2016 (Annexure C);

- (iv) Mail from Company to Consortium members dated 09.04.2016 (Annexure D);

- (v) Consortium meeting held on 29.03.2016 (Annexure E);

- (vi) Letter from Company to DGM, SBI dated 15.03.2016 (Annexure F);

- (vii) Letter from Company to RM, SBI dated 24.12.2015 (Annexure G);

- (viii) Consortium meeting held on 03.12.2015 (Annexure H);

- (ix) Letter from Company to DGM, SBI dated 16.11.2015 (Annexure I);

- (x) Mail from Company to SBI dated 02.09.2015 (Annexure J);

- (xi) Consortium meeting held on 13.08.2015 (Annexure K);

- (xii) Letter from Company to DGM, SBI dated 18.07.2015 (Annexure L);

- (xiii) Letter from Company to all consortium members dated 30.06.2015 (Annexure M);

- (xiv) Consortium meeting held on 11.05.2015 (Annexure N);

- (xv) Letter from Company to DGM, SBI dated 03.06.2015 (Annexure O);

- (xvi) Letter from Company to DGM, SBI dated 20.04.2015 (Annexure P);

- (xvii) Letter from Company to AGM, SBI dated 27.04.2015 (Annexure Q);

- (xviii) Sanction Letter by SBI dated 21.03.2015 (Annexure R);

- (xix) Credit Proposal No. P00421601 by SBI (Annexure S);

- (xx) Consortium meeting held on 18.03.2015 (Annexure T);

- (xxi) Consortium meeting held on 03.03.2015 (Annexure U);

- (xxii) Consortium meeting held on 05.02.2015 (Annexure V);

- (xxiii) Consortium meeting held on 30.12.2014 (Annexure W);

- (xxiv) Communication between Company and CGM, SBI mail dated 01.10.2014 (Annexure X);

- (xxv) Letter from company to SBI dated 11.09.2014 (Annexure Y);

- (xxvi) Letter from company to SBI dated 27.06.2014 (Annexure Z);

- (xxvii) Letter from company to SBI dated 20.05.2014 (Annexure AA);

- (xxviii) Consortium Meeting held on 13.05.2014 (Annexure BB);

- (xxix) RBI's circular for formation of JLF and rectification measures dated 31.03.2014 (Annexure CC);

- (xxx) Consortium Meeting held on 22.03.2014 (Annexure DD);

- (xxxii) Special Study report by Sonalal Datta dated 04.04.2014 (Annexure EE)

3.2 Defendants no. 3 & 4(i) / Ms. Anju Chaudhary has also filed separate WS in her capacity as main defendant as well as in the capacity of LR of deceased defendant no. 4. The main contention of answering defendant is that the husband of answering defendant was a business man and Director of Defendant no. 1. It is also contended that the answering defendant used to sign all documents, in blank, as per instructions of her husband. Even otherwise, defendant no. 3 / 4(i) has raised similar objections as by defendants no. 1, 2 and 4(ii) in their common WS, however, apart from the said objections, 3.3 In their common WS, Defendants no. 4(iii), (v) & (vi) (being LRs of Defendant no. 4) have raised following main objections:-

- (i) that the present OA is not legally maintainable since the documents referred to in the OA have not been filed and the documents so served are also incomplete;

- (ii) that it is a common fact that the Applicant Bank / FIs generally obtain blank documents from the borrowers, those are then later on filled up without the consent or knowledge of the borrower and the same is the position in the instant case also;

- (iii) That the applicant bank has not filed correct and complete statement of account of all the accounts of the principal borrower;

- (iv) that this OA has not been signed, verified not instituted by duly authorized and competent persons;

- (v) That the OA is on different causes of action for the different alleged loans granted to the defendants, hence the OA is barred by Rule 10 of DRT (Procedure) Rules 1993;

- (vi) that the subject matter of this OA does not fall within the jurisdiction of this Tribunal;

- (vi) That this OA has not been filed within the period of limitation;

- (vii) That the alleged creation of mortgage over the properties is denied.

It is mainly contended in their WS that the answering defendants are the legal heirs of late Sh. C.P. Chaudhary, hence, the alleged liability could not be fastened upon the answering defendants.

3.4 Defendant no. 5 in its WS has raised similar objections as by defendants no. 1, 2 and 4(ii) as well as defendant no. 4(iii), (v) & (vi).

3.5 Similarly, Defendants no. 6 & 9, in their common WS, have also raised similar objections as by defendants no. 1, 2 and 4(ii) as well as defendant no. 4(iii), (v) & (vi).

3.6 Defendants no. 11/ OBC has also filed its WS stating that OBC has also filed OA No. 534/2015 (OBC Vs. Radikal Foods Ltd. & Ors.) before DRT-II, Delhi for recovery of its dues from defendants no. 1 to 10. In its WS, defendant no. 11 has not denied the averments made in the OA and has prayed to allow the OA of applicant banks to the extent that the defendant no. 11 is one of the member of the consortium Banks and has a pari passu charge over all the movable and immovable properties of the defendants no. 1 to 10 and protecting the interest of defendant no. 11 may pass further directions for the proportionate entitlement of the defendant no. 11 over the recovery through sale of the properties of the defendants no. 1 to 10 or otherwise.

It is pertinent to note here that Defendant no. 11 has been impleaded as Proforma Defendant and no relief has been claimed qua this defendant by the Applicant Banks.

3.7 Similarly, Defendant no. 12 / The Catholic Syrian Bank Limited has also filed its WS giving details of facilities granted by it to the defendants.

It is pertinent to note here that Defendant no. 12 has also been impleaded as Proforma Defendant and no relief has been claimed qua this defendant by the Applicant Banks.

4. Reply to the counter claim of defendants no. 1, 2 & 4(ii) has also been filed by the Applicant Banks vehemently opposing the same. Along with the Reply, applicant bank have also filed the following documents:-

- (i) Copy of Minutes of the JLF meeting held on 03.03.2015 (Annexure – I);

- (ii) Copy of letter dated 04.03.2015 sent to Axis bank Ltd. (Annexure – II);

- (iii) Copy of letter dated 12.03.2015 sent to defendant no. 1 (Annexure – III);

- (iv) Copy of letter dated 01.04.2015 sent to defendant no. 1 (Annexure – IV);

- (v) Copy of letter dated 11.04.2015 sent to defendant no. 1 (Annexure – V);

- (vi) Copy of letter dated 18.04.2015 sent to defendant no. 1 (Annexure – VI);

- (vii) Copy of letter dated 20.04.2015 sent to defendant no. 1 (Annexure – VII);

- (viii) Copy of letter dated 28.04.2015 sent to defendant no. 1 (Annexure – VIII);

- (ix) Copy of letter dated 07.05.2015 sent to defendant no. 1 (Annexure – IX);

- (x) Copy of letter dated 13.07.2015 sent to defendant no. 1 (Annexure – X);

- (xi) Copy of minutes of the JLF meeting held on 29.03.2016 (Annexure – XI);

- (xii) Copy of letter dated 06.07.2015 sent by defendant no. 1 to the applicant no. 1 bank (Annexure – XII);

- (xiii) Copy of the stock and receivable audit report dated 26.10.2015 submitted by M/s Ashok Shyam & Associates (Annexure – XIII).

5. Further more, applicant banks have also filed their respective rejoinder(s) to the WS(s) filed by the defendants no. 1, 2, 4(ii); defendant no. 3 & 4(i); defendants no. 4(iii), (v) & (vi); defendant no. 5 and defendants no. 6 & 9 denying the allegations levelled against them and reiterating the averments made in the OA.


5.1 Applicant Banks have also filed rejoinder(s) to the respective WS(s) of proforma defendants no. 11 & 12.

6. To prove its case, the Applicant Banks leads its evidence by filling the affidavit of Sh. Sanjay Jain, Asst. General Manager and authorized officer of Applicant No. 1 Bank / SBI, being the leader of the Consortium of Bank(s) which is having loan / security documents, in its possession.

6.1 Sh. Sanjay Jain, officer of the Applicant No. 1 Bank has placed reliance upon the documents filed by the Applicant Banks which includes :-

- (i) General Power of Attorney dated 05.12.2016 of Applicant No. 7 Bank / BOI in favour of Mr. Murari Mahto (Ex. AW-1/526);

- (ii) Power of Attorney dated 30.08.20214 of Applicant No. 8 / Vijaya Bank in favour of Sh. Saurabh Verma, Senior Manager / Principal Officer (Ex. AW-1/527);

- (iii) Resolution dated 21.12.2015 passed by the Board of Directors of the Applicant Bank no. 9 / BOM in favour of Mr. Harendra Nath Srivastav, Deputy general Manager / Principal Officer (Ex. AW-1/528);

- (iv) Delegation of Powers dated March 2016 of Applicant No. 10 / IDBI Bank Limited in favour of Ms. Seethalakshami Nagarajan, Assistant General Manager / Principal Officer (Ex. AW1/529);

- (v) Resolution passed by the Board of Directors of the Applicant Bank no. 11 / UCO Bank in favour of Mr. G.L. Gupta, Asstt. General Manager / Principal Officer (Ex. AW-1/530);

- (vi) Power of Attorney dated 08.06.2015 issued by the Chairman and Managing Director of Applicant Bank no. 12 / Export-Import Bank of India in favour of Mr. Tarun Sharma, General Manager / Principal Officer (Ex. AW-1/531);

- (vii) Resolution passed by the Board of Directors of the Applicant Bank no. 13 / Indian Overseas Bank in favor of Sh. G.V. Dayal Prasad, Chief Manager / Principal Officer (Ex. AW-1/532);

- (viii) Sanction Letter dated 12.10.2009 of Applicant No. 1 Bank (Ex. AW-1/1);

- (ix) Board Resolution dated 09.11.2009 of defendant no. 1 (Ex. AW-1/2);

- (x) Agreement of loan for overall limits dated 19.11.2009 executed by Defendant no. 1 (Ex. AW-1/3);

- (xi) Agreement of Hypothecation of goods and assets dated 19.11.2009 executed by Defendant no. 1 (Ex. AW-1/4);

- (xii) Guarantee agreement dated 19.11.2009 executed by Defendants no. 2 to 4 (Ex. AW-1/5);

- (xiii) Guarantee agreement dated 19.11.2009 executed by Defendant no. 5 (Ex. AW-1/7);

- (xiv) Letter dated 19.11.2009 regarding the individual limits executed by Defendant no. 1 (Ex. AW-1/8);

- (xv) Omnibus Counter Guarantee dated 19.11.2009 executed by Defendant no. 1 for securing the Bank Guarantee Limit of Rs. 1.0 Crore (Ex. AW-1/9);

- (xvi) Agreement cum Indemnity dated 19.11.2009 executed by Defendant no. 1 for securing the One Time Letter of Credit Facility of Rs. 4.0 crore (Ex. AW-1/10);

- (xvii) Letter executed by Defendant no. 2 with photograph thereby confirming the execution of the Guarantee Agreement dated 19.11.2009 (Ex. AW-1/11);

- (xviii) Letter executed by Defendant no. 3 with photograph thereby confirming the execution of the Guarantee Agreement dated 19.11.2009 (Ex. AW-1/12);

- (xix) Letter executed by Defendant no. 4 with photograph thereby confirming the execution of the Guarantee Agreement dated 19.11.2009 (Ex. AW-1/13);

- (xx) Consent letter for disclosure dated 19.11.2009 executed by defendant no. 1 (Ex. AW-1/14);

- (xxi) Consent letter for disclosure dated 19.11.2009 executed by defendants no. 2 to 4 (Ex. AW-1/15);

- (xxii) Consent letter for disclosure dated 19.11.2009 executed by defendant no. 5 (Ex. AW-1/16);

- (xxiii) Undertaking dated 19.11.2009 executed by defendant no. 1 (Ex. AW-1/17);

- (xxiv) Sanction Letter dated 10.12.2009 of Applicant no. 1 Bank (Ex. AW-1/18);

- (xxv) Board Resolution dated 09.01.2010 of Defendant no. 1 (Ex. AW-1/19);

- (xxvi) Board Resolution dated 09.01.2010 passed by Defendant no. 5 (Ex. AW-1/20);

- (xxvii) Letter dated 17.02.2010 of defendant no. 1 (Ex. AW-1/21);

- (xxviii) Sanction letter dated 24.11.2010 of Applicant no. 1 Bank (Ex. AW-1/22 & AW-1/23);

- (xxix) Board Resolution dated 02.12.2010 passed by Defendant no. 1 (Ex. AW-1/24);

- (xxx) Supplemental Agreement of loan for overall limits dated 29.07.2011 executed by Defendant no. 1 (Ex. AW-1/25);

- (xxxi) Supplemental Agreement of Hypothecation of goods and assets dated 29.07.2011 executed by Defendant no. 1 (Ex. AW-1/26);

- (xxxii) Supplemental Deed of Guarantee dated 29.07.2011 executed by Defendants no. 2 to 4 (Ex. AW-1/27);

- (xxxiii) Supplemental Deed of Guarantee dated 29.07.2011 executed by Defendant no. 5 (Ex. AW-1/28) in terms of Board Resolution dated 02.12.2010 (Ex. AW-1/29);

- (xxxiv) Letter dated 29.07.2011 regarding the individual limits executed by Defendant no. 1 (Ex. AW-1/30);

- (xxxv) Omnibus Counter Guarantee dated 29.07.2011 executed by Defendant no. 1 (Ex. AW-1/31);

- (xxxvi) Agreement cum Indemnity dated 29.07.2011 executed by Defendant no. 1 (Ex. AW-1/32);

- (xxxvii) Letter executed by Defendant no. 2 with photograph thereby confirming the execution of the Guarantee Agreement dated 29.07.2011 (Ex. AW-1/33);

- (xxxviii) Letter executed by Defendant no. 3 with photograph thereby confirming the execution of the Guarantee Agreement dated 29.07.2011 (Ex. AW-1/34);

- (xxxix) Letter executed by Defendant no. 4 with photograph thereby confirming the execution of the Guarantee Agreement dated 29.07.2011 (Ex. AW-1/35);

- (xl) Sanction letter dated 28.10.2011 of Applicant no. 1 Bank (Ex. AW-1/36);

- (xli) Board Resolution dated 28.10.2011 passed by defendant no. 1 (Ex. AW-1/37);

- (xlii) Supplemental Agreement of loan for overall limits dated 28.10.2011 executed by Defendant no. 1 (Ex. AW-1/38);

- (xliii) Supplemental Agreement of Hypothecation of goods and assets dated 28.10.2011 executed by Defendant no. 1 (Ex. AW-1/39);

- (xliv) Supplemental Deed of Guarantee dated 28.10.2011 executed by Defendants no. 2 to 4 (Ex. AW-1/40);

- (xlv) Supplemental Deed of Guarantee dated 28.10.2011 executed by Defendant no. 5 (Ex. AW-1/41) in terms of the Board Resolution dated 28.10.2011 (Ex. AW-1/42);

- (xlvi) Letter dated 28.10.2011 regarding the individual limits executed by Defendant no. 1 (Ex. AW-1/43);

- (xlvii) Omnibus Counter Guarantee dated 28.10.2011 executed by Defendant no. 1 (Ex. AW-1/44);

- (xlviii) Letter executed by Defendant no. 2 with photograph thereby confirming the execution of the Guarantee Agreement dated 28.10.2011 (Ex. AW-1/45);

- (xlix) Letter executed by Defendant no. 3 with photograph thereby confirming the execution of the Guarantee Agreement dated 28.10.2011 (Ex. AW-1/46);

- (l) Letter executed by Defendant no. 4 with photograph thereby confirming the execution of the Guarantee Agreement dated 28.10.2011 (Ex. AW-1/47);

- (li) Board Resolution dated 28.09.2012 passed by defendant no. 1 (Ex. AW-1/48);

- (lii) Working Capital Consortium Agreement dated 28.09.2012 executed by Defendant no. 1 (Ex. AW-1/49);

- (liii) Joint Deed of Hypothecation dated 28.09.2012 executed by Defendant no. 1 (Ex. AW-1/50);

- (liv) Inter-se Agreement dated 28.09.2012 executed by and between the WC Lenders 2012 (Ex. AW-1/51);

- (lv) Letter of Authority to Lead Bank i.e. SBI dated 28.09.2012 executed by the WC Lenders 2012 except Applicant No. 1, in favour of the Led Bank i.e. Applicant no. 1 Bank / SBI (Ex. AW-1/52);

- (lvi) Undertaking dated 28.09.2012 executed by the Defendant no. 1 in favour of the Applicant No. 1 Bank (Ex. AW-1/53);

- (lvii) Deed of Guarantee dated 28.09.2012 executed by Defendants no. 2 to 4 (Ex. AW-1/54);

- (lviii) Deed of Guarantee dated 28.09.2012 executed by Defendant no. 5 (Ex. AW-1/55) in terms of Board Resolution dated 28.09.2012 (Ex. AW-1/56);

- (lix) Deed of Guarantee dated 28.09.2012 executed by Defendant no. 6 (Ex. AW-1/57) in terms of Board Resolution dated 28.09.2012 (Ex. AW-1/58);

- (lx) Deed of Guarantee dated 28.09.2012 executed by Defendant no. 7 (Ex. AW-1/59) in terms of Board Resolution dated 28.09.2012 (Ex. AW-1/60);

- (lxi) Deed of Guarantee dated 28.09.2012 executed by Defendant no. 8 (Ex. AW-1/61) in terms of Board Resolution dated 28.09.2012 (Ex. AW-1/62);

- (lxii) Board Resolution dated 04.02.2013 of defendant no. 1 (Ex. AW-1/63);

- (lxiii) Term Loan Agreement dated 07.02.2013 executed by and between the Defendant no. 1 and the Applicant No. 1 Bank (for itself and for the Consortium) with regard to Term Loan Facility of Rs. 70.0 crore (Ex. AW-1/64);

- (lxiv) Joint Deed of Hypothecation dated 07.02.2013 executed by Defendant no. 1 (Ex. AW-1/65);

- (lxv) Inter-se Agreement dated 07.02.2013 executed by and between the TL Lenders 2013, for the operational convenience (Ex. AW-1/66);

- (lxvi) Letter of Authority to Lead Bank i.e. SBI dated 07.02.2013 executed by the TL Lenders 2013 except for the Applicant No. 1, in favour of the Lead Bank i.e. Applicant no. 1 Bank / SBI (Ex. AW-1/67);

- (lxvii) Additional Undertaking dated 07.02.2013 executed by the Defendant no. 1 in favour of the Applicant No. 1 Bank (Ex. AW-1/68);

- (lxviii) Confirmation to Inter-se Agreement dated 07.02.2013 executed by the Defendant no. 1 in favour of the TL Lenders 2013 (Ex. AW-1/69);

- (lxiix) Deed of Guarantee dated 07.02.2013 executed by Defendant no. 2 (Ex. AW-1/70);

- (lxx) Deed of Guarantee dated 07.02.2013 executed by Defendant no. 3 (Ex. AW-1/71);

- (lxxi) Deed of Guarantee dated 07.02.2013 executed by Defendant no. 4 (Ex. AW-1/72);

- (lxxii) Deed of Guarantee dated 07.02.2013 executed by Defendant no. 5 (Ex. AW-1/74), in terms of its Board Resolution dated 04.02.2013 passed by defendant no. 5 (Ex. AW-1/73);

- (lxxiii) Deed of Guarantee dated 26.02.2013 executed by Defendant no. 6 (Ex. AW-1/76), in terms of its Board Resolution dated 04.02.2013 passed by defendant no. 6 (Ex. AW-1/75);

- (lxxiv) Deed of Guarantee dated 26.02.2013 executed by Defendant no. 7 (Ex. AW-1/78), in terms of its Board Resolution dated 04.02.2013 passed by defendant no. 7 (Ex. AW-1/77);

- (lxxv) Deed of Guarantee dated 26.02.2013 executed by Defendant no. 8 (Ex. AW-1/80), in terms of its Board Resolution dated 04.02.2013 passed by defendant no. 8 (Ex. AW-1/79);

- (lxxvi) Certificate issued by the Defendant no. 1 to the Lead Bank i.e. Applicant no. 1 Bank thereby certifying that the Directors of the Defendant no. 1 Company are not related to the Directors of the TL Lenders 2013 (Ex. AW-1/81);

- (lxxvii) Working Capital Consortium Agreement dated 30.03.2013 executed by and between the Defendant no. 1 and the Applicant No. 1 Bank (for itself and for the Consortium) with regard to Working Capital Facilities of Rs. 367.0 crore (Ex. AW-1/83);

- (lxxviii) Joint Deed of Hypothecation dated 30.03.2013 executed by Defendant no. 1 (Ex. AW-1/84);

- (lxxix) Inter-se Agreement dated 30.03.2013 executed by and between the WC Lenders 2013, for the operational convenience of the WC Lenders 2013 (Ex. AW-1/85);

- (lxxx) Letter of Authority to Lead Bank i.e. SBI dated 30.03.2013 executed by the WC Lenders 2013 except Applicant No. 1, in favour of the Lead Bank i.e. Applicant no. 1 Bank / SBI (Ex. AW-1/86);

- (lxxxi) Deed of Guarantee dated 30.03.2013 executed by Defendants no. 2 to 4 (Ex. AW-1/87);

- (lxxxii) Deed of Guarantee dated 30.03.2013 executed by Defendant no. 5 (Ex. AW-1/89), in terms of its Board Resolution dated 30.03.2013 passed by defendant no. 5 (Ex. AW-1/88);

- (lxxxiii) Deed of Guarantee dated 30.03.2013 executed by Defendant no. 6 (Ex. AW-1/91), in terms of its Board Resolution dated 30.03.2013 passed by defendant no. 6 (Ex. AW-1/90);

- (lxxxiv) Deed of Guarantee dated 30.03.2013 executed by Defendant no. 7 (Ex. AW-1/93), in terms of its Board Resolution dated 30.03.2013 passed by defendant no. 7 (Ex. AW-1/92);

- (lxxxv) Deed of Guarantee dated 30.03.2013 executed by Defendant no. 8 (Ex. AW-1/95), in terms of its Board Resolution dated 30.03.2013 passed by defendant no. 8 (Ex. AW-1/94);

- (lxxxvi) Certificate issued by the Defendant no. 1 to the Lead Bank i.e. Applicant no. 1 Bank thereby certifying that the Directors of the Defendant no. 1 Company are not related to the Directors of the WC Lenders 2013 (Ex. AW-1/96);

- (lxxxvii) Sanction Letter dated 27.09.2013 of Applicant no. 1 Bank with regard to TL-3 (Ex. AW-1/97);

- (lxxxviii) Board Resolution dated 27.09.2013 passed by defendant no. 1 (Ex. AW-1/98);

- (lxxxix) Board Resolution dated 27.09.2013 passed by defendant no. 1 (Ex. AW-1/99);

- (xc) Supplemental Agreement of Loan dated 27.09.2013 executed by Defendant no. 1 (Ex. AW-1/100);

- (xci) Supplemental Agreement of Hypothecation dated 27.09.2013 executed by Defendant no. 1 (Ex. AW-1/101);

- (xcii) Letter dated 27.09.2013 executed by defendant no. 1 (Ex. AW-1/102);

- (xciii) Supplemental Deed of Guarantee executed by Defendant no. 2 (Ex. AW-1/103);

- (xciv) Consent Letter for disclosure by Banks dated 27.09.2013 executed by Defendant no. 2 (Ex. AW-1/104);

- (xcv) Supplemental Deed of Guarantee dated 27.09.2013 executed by Defendant no. 3 (Ex. AW-1/105); A small green rectangular stamp or mark with a blue line above it, located at the bottom right of the page.

- (xcvi) Consent Letter for disclosure by Banks dated 27.09.2013 executed by Defendant no. 3 (Ex. AW-1/106);

- (xcvii) Supplemental Deed of Guarantee dated 27.09.2013 executed by Defendant no. 4 (Ex. AW-1/107);

- (xcviii) Consent Letter for disclosure by Banks dated 27.09.2013 executed by Defendant no. 4 (Ex. AW-1/108);

- (xcix) Deed of Guarantee dated 27.09.2013 executed by Defendant no. 5 (Ex. AW-1/109) in terms of the Board Resolution dated 27.09.2013 passed by defendant no. 5 (Ex. AW-1/110);

- (c) Consent Letter for disclosure by Banks dated 27.09.2013 executed by Defendant no. 5 (Ex. AW-1/111);

- (ci) Deed of Guarantee dated 27.09.2013 executed by Defendant no. 6 (Ex. AW-1/112) in terms of the Board Resolution dated 27.09.2013 passed by defendant no. 6 (Ex. AW-1/113);

- (cii) Consent Letter for disclosure by Banks dated 27.09.2013 executed by Defendant no. 6 (Ex. AW-1/114);

- (ciii) Deed of Guarantee dated 27.09.2013 executed by Defendant no. 7 (Ex. AW-1/115) in terms of the Board Resolution dated 27.09.2013 (Ex. AW-1/116);

- (civ) Consent Letter for disclosure by Banks dated 27.09.2013 executed by Defendant no. 7 (Ex. AW-1/117);

- (cv) Deed of Guarantee dated 27.09.2013 executed by Defendant no. 8 (Ex. AW-1/118) in terms of the Board Resolution dated 27.09.2013 (Ex. AW-1/119);

- (cvi) Consent Letter for disclosure by Banks dated 27.09.2013 executed by Defendant no. 8 (Ex. AW-1/120);

- (cvii) Consent Letter for disclosure by Banks dated 27.09.2013 executed by Defendant no. 1 (Ex. AW-1/121);

- (cviii) Certificate issued by the Defendant no. 1 to the Lead Bank i.e. Applicant no. 1 Bank thereby certifying that the Directors of the Defendant no. 1 Company are not related to the Directors of Applicant No. 1 Bank (Ex. AW-1/122);

- (cix) Undertaking dated 20.07.2013 issued by the Defendant no. 1 to the Applicant No. 1 Bank thereby undertaking of the infusion of fresh equity share capital etc. (Ex. AW-1/123);

- (cx) Undertaking dated 20.07.2013 issued by the Defendant no. 1 (Ex. AW-1/124);

- (cxi) Undertaking-cum-Indemnity in respect of facsimile instructions for operation of current and CC account dated 20.07.2013 by defendant no. 1 (Ex. AW-1/125);

- (cxii) Omnibus Counter Guarantee dated 27.09.2013 executed by the Defendant no. 1 (Ex. AW-1/126);

- (cxiii) Cancel ability clause dated 27.09.2013 executed by the Defendant no. 1 (Ex. AW-1/127);

- (cxiv) Board Resolution dated 30.01.2014 of defendant no. 1 (Ex. AW-1/129);

- (cxv) Shareholders Resolution passed by defendant no. 1 at the extraordinary general meeting held on 24.09.2013 u/s 180 (1) (a) & 180 (1) (c) of the Companies Act, 2013 (Ex. AW-1/130);

- (cxvi) Working Capital Consortium Agreement dated 31.01.2014 executed by Defendant no. 1 (Ex. AW-1/131);

- (cxvii) Joint Deed of Hypothecation dated 31.01.2014 executed by Defendant no. 1 (Ex. AW-1/132);

- (cxviii) Inter-se Agreement dated 31.01.2014 executed by and between the WC Lenders 2014 (Ex. AW-1/133);

- (cxix) Letter of Authority to Lead Bank i.e. SBI dated 31.01.2014 executed by the WC Lenders 2014 except Applicant No. 1, in favour of the Lead Bank i.e. Applicant no. 1 Bank (Ex. AW-1/134);

- (cxx) Deed of Guarantee dated 31.01.2014 executed by Defendants no. 2 to 4 (Ex. AW-1/135); 

- (cxxi) Deed of Guarantee dated 31.01.2014 executed by Defendant no. 5 (Ex. AW-1/136), in terms of its Board Resolution dated 30.01.2014 passed by the Defendant no. 5 (Ex. AW-1/137);

- (cxxii) Deed of Guarantee dated 31.01.2014 executed by Defendant no. 6 (Ex. AW-1/138), in terms of its Board Resolution dated 30.01.2014 passed by defendant no. 6 (Ex. AW-1/90);

- (cxxiii) Deed of Guarantee dated 31.01.2014 executed by Defendant no. 7 (Ex. AW-1/140), in terms of its Board Resolution dated 30.01.2014 passed by defendant no. 7 (Ex. AW-1/141);

- (cxxiv) Deed of Guarantee dated 31.01.2014 executed by Defendant no. 8 (Ex. AW-1/142), in terms of its Board Resolution dated 30.01.2014 passed by defendant no. 8 (Ex. AW-1/143);

- (cxxv) Agreement for Pledge of Shares dated 31.01.2014 executed by Defendants no. 2 to 4 thereby pledging 6,40,000 shares (Ex. AW-1/144);

- (cxxvi) Share Pledge Power of Attorney dated 31.03.2014 executed by the Defendant no. 2 (Ex. AW-1/145);

- (cxxvii) Share Pledge Power of Attorney dated 31.03.2014 executed by the Defendant no. 3 (Ex. AW-1/146);

- (cxxviii) Share Pledge Power of Attorney dated 31.03.2014 executed by the Defendant no. 4 (Ex. AW-1/147);

- (cxxix) Certified true copy of the Board Resolution of the Defendant no. 9 dated 14.04.2014 (Ex. AW-1/148);

- (cxxx) Deed of Guarantee dated 14.04.2014 executed by the Defendant no. 9 (Ex. AW-1/149);

- (cxxxii) Certificate dated 20.12.2014 executed by the Defendant no. 9 thereby certifying the change of name of Defendant no. 9 from "Radikal Warehousing Private Limited" to "Radikal Global Foods (India) Private Limited" (Ex. AW-1/150);

- (cxxxiii) Working Capital Consortium Agreement dated 13.05.2014 executed by Defendant no. 1 (Ex. AW-1/151);

- (cxxxiii) Joint Deed of Hypothecation dated 13.05.2014 executed by Defendant no. 1 (Ex. AW-1/152);

- (cxxxiv) Inter-se Agreement dated 13.05.2014 executed by and between the WC Lenders 2014(Ex. AW-1/153);

- (cxxxv) Confirmation by the Defendant no. 1 dated 13.05.2014 to the Interse Agreement amongst WC Lenders 2014-B (Ex. AW-1/154);

- (cxxxvi) Letter of Authority to Lead Bank i.e. SBI dated 13.05.2014 executed by the WC Lenders 2014-B except Applicant No. 1, in favour of the Lead Bank i.e. Applicant no. 1 Bank / SBI (Ex. AW-1/155);

- (cxxxvii) Deed of Guarantee dated 13.05.2014 executed by Defendants no. 2 (Ex. AW-1/156);

- (cxxxviii) Deed of Guarantee dated 13.05.2014 executed by Defendants no. 3 (Ex. AW-1/157);

- (cxxxix) Deed of Guarantee dated 13.05.2014 executed by Defendants no. 4 (Ex. AW-1/158);

- (cxl) Deed of Guarantee dated 13.05.2014 executed by Defendant no. 5 (Ex. AW-1/159),

- (cxli) Deed of Guarantee dated 13.05.2014 executed by Defendant no. 6 (Ex. AW-1/160);

- (cxlii) Deed of Guarantee dated 13.05.2014 executed by Defendant no. 7 (Ex. AW-1/161);

- (cxliii) Deed of Guarantee dated 13.05.2014 executed by Defendant no. 8 (Ex. AW-1/162);

- (cxliv) Agreement for Pledge of Shares dated 13.05.2014 executed by Defendants no. 2 to 4 thereby pledging 6,40,000 shares (Ex. AW-1/163);

- (cxlv) Omnibus Counter Guarantee dated 13.05.2014 executed by the Defendant no. 1 (Ex. AW-1/164);

- (cxlvi) Board Resolution dated 21.06.2014 passed by defendant no. 1 (Ex. AW-1/165);

- (cxlvii) Working Capital Consortium Agreement dated 24.06.2014 executed by Defendant no. 1 (Ex. AW-1/166);

- (cxlviii) Joint Deed of Hypothecation dated 24.06.2014 executed by Defendant no. 1 (Ex. AW-1/167);

- (cxlix) Inter-se Agreement dated 24.06.2014 executed by and between the WC Lenders 2014-C (Ex. AW-1/168);

- (cl) Confirmation by the Defendant no. 1 dated 24.06.2014 to the Interse Agreement amongst WC Lenders 2014-C (Ex. AW-1/169);

- (cli) Letter of Authority to Lead Bank i.e. SBI dated 24.06.2014 executed by the WC Lenders 2014-C except Applicant No. 1, in favour of the Lead Bank i.e. Applicant no. 1 Bank / SBI (Ex. AW-1/170);

- (clii) Deed of Guarantee dated 24.06.2014 executed by Defendants no. 2 (Ex. AW-1/171);

- (cliia) Deed of Guarantee dated 24.06.2014 executed by Defendants no. 3 (Ex. AW-1/172);

- (cliv) Deed of Guarantee dated 24.06.2014 executed by Defendants no. 4 (Ex. AW-1/173);

- (clv) Deed of Guarantee dated 24.06.2014 executed by Defendant no. 5 (Ex. AW-1/174), in terms of its Board Resolution dated 21.06.2014 passed by defendant no. 5 (Ex. AW-1/175);

- (clvi) Deed of Guarantee dated 24.06.2014 executed by Defendant no. 6 (Ex. AW-1/176), in terms of its Board Resolution dated 21.06.2014 passed by defendant no. 6 (Ex. AW-1/177);

- (clvii) Deed of Guarantee dated 24.06.2014 executed by Defendant no. 7 (Ex. AW-1/178), in terms of its Board Resolution dated 21.06.2014 passed by defendant no. 7 (Ex. AW-1/179);

- (clviii) Deed of Guarantee dated 24.06.2014 executed by Defendant no. 8 (Ex. AW-1/180), in terms of its Board Resolution dated 21.06.2014 passed by defendant no. 8 (Ex. AW-1/181);

- (clix) Agreement for Pledge of Shares dated 24.06.2014 executed by Defendants no. 2 to 4 thereby pledging shares (Ex. AW-1/182);

- (clx) Share Pledge Power of Attorney dated 24.06.2014 executed by Defendants no. 2 to 4 in favour of Applicant no. 1 Bank (Ex. AW-1/183);

- (clxi) Omnibus Counter Guarantee dated 24.06.2014 executed by the Defendant no. 1 (Ex. AW-1/184);

- (clxii) Audited balance sheet of defendant no. 1 as on 31.03.2015 confirming the balance towards the applicant no. 1 (Ex. AW-1/503);

- (clxiii) Copy of Demand notice / Recall Notice dated 12.05.2016 issued by applicant no. 1 bank along with postal receipts (Ex. AW-1/185);

- (clxiv) Sanction Letter dated 16.06.2014 issued by applicant no. 2 Bank / SBOP (Ex. AW-1/186);

- (clxv) Board Resolution dated 21.06.2014 passed by defendant no. 1 (Ex. AW-1/187);

- (clxvi) Balance Confirmation executed by defendant no. 1 on 02.04.2015 (Ex. AW-1/188);

- (clxvii) Letters dated 29.12.2015 (Ex. AW-1/189), 27.01.2016 (Ex. AW-1/190) and 03.02.2016 (Ex. AW-1/191) written by applicant no. 2 to defendant no. 1 for the regularization of the accounts;

- (clxviii) Mail dated 02.12.2015 sent by defendant no. 1 (Ex. AW-1/192)

- (clxix) Notice dated 09.09.2016 issued by applicant no. 2 u/s 13(2) of the SARFAESI Act 2002 (Ex. AW-1/193);

- (clxx) Sanction Letter dated 25.01.2014 of applicant no. 3 / SBBJ (Ex. AW-1/194);

- (clxxi) Sanction Letter 31.03.2015 of applicant no. 3 bank (Ex. AW-1/195);

- (clxxii) Board Resolution dated 21.03.2015 of the Defendant no. 1 (Ex. AW-1/196);

- (clxxiii) Agreement of loan dated 01.04.2015 executed by the Defendant no. 1 (Ex. AW-1/197);

- (clxxiv) Deed of Hypothecation dated 01.04.2015 executed by Defendant no. 1(Ex. AW-1/198);

- (clxxv) Letter regarding the grant of individual limits dated 01.04.2015 executed by the defendant no. 1 (Ex. AW-1/199);

- (clxxvi) Deed of Guarantee dated 01.04.2015 executed by the defendants no. 2 to 4 (Ex. AW-1/200);

- (clxxvii) Consent Clause executed by defendants no. 2 to 4 (Ex. AW-1/201 to 203);

- (clxxviii) Affidavits executed by defendants no. 2 to 4 (Ex. AW-1/204 to 206);

- (clxxix) Deed of Guarantee dated 01.04.2015 executed by the defendant no. 5 (Ex. AW-1/207), in terms of the Board Resolution dated 31.03.2015 passed by the defendant no. 5 (Ex. AW-1/208) along with Consent Clause (Ex. AW-1/209);

- (clxxx) Deed of Guarantee dated 01.04.2015 executed by the defendant no. 6 (Ex. AW-1/210), in terms of the Board Resolution dated 31.03.2015 passed by defendant no. 6 (Ex. AW-1/211) along with Consent Clause (Ex. AW-1/212);

- (clxxxii) Deed of Guarantee dated 01.04.2015 executed by the defendant no. 7 (Ex. AW-1/213), in terms of the Board Resolution dated 31.03.2015 passed by defendant no. 7 (Ex. AW-1/214) along with Consent Clause (Ex. AW-1/215);

- (clxxxiii) Deed of Guarantee dated 01.04.2015 executed by the defendant no. 8 (Ex. AW-1/216), in terms of the Board Resolution dated 31.03.2015 passed by defendant no. 8 (Ex. AW-1/217) along with Consent Clause (Ex. AW-1/218);

- (clxxxiiii) Deed of Guarantee dated 01.04.2015 executed by the defendant no. 9 (Ex. AW-1/219), in terms of the Board Resolution dated 31.03.2015 passed by defendant no. 9 (Ex. AW-1/220) along with Consent Clause (Ex. AW-1/222);

- (clxxxiv) Acknowledgment of having received the Loan / Security Documents dated 01.04.2015 by the Defendant no. 1 (Ex. AW-1/223);

- (clxxxv) Certificate of End use of funds dated 01.04.2015 by the defendant no. 1 (Ex. AW-1/224);

- (clxxxvi) Balance Confirmation dated 31.03.2015 by Defendant no. 1 in the various accounts with Applicant No. 3 Bank (Ex. AW-1/225);

- (clxxxvii) Demand Notice / Recall Notice dated 07.03.2016 issued by the applicant no. 3 bank (Ex. AW-1/226);

- (clxxxviii) Sanction Letter dated 01.01.2014 of applicant no. 4 / SBH (Ex. AW-1/227);

- (clxxxix) Sanction Letter 27.03.2015 of applicant no. 4 (Ex. AW-1/228);

- (cxc) Board Resolution dated 26.03.2015 of the Defendant no. 1 (Ex. AW-1/229);

- (cxci) Agreement of loan dated 27.03.2015 executed by the Defendant no. 1 (Ex. AW-1/230);

- (cxcii) Deed of Hypothecation dated 27.03.2015 executed by Defendant no. 1 (Ex. AW-1/231);

- (cxciii) Letter regarding the grant of individual limits dated 27.03.2015 executed by the Defendant no. 1 (Ex. AW-1/232);

- (cxciv) Deed of Guarantee dated 27.03.2015 executed by the defendants no. 2 to 4 (Ex. AW-1/233) along with Consent Clause (Ex. AW-1/234);

- (cxcv) Deed of Guarantee dated 27.03.2015 executed by the defendant no. 5 (Ex. AW-1/235), in terms of the Board Resolution dated 26.03.2015 passed by defendant no. 5 (Ex. AW-1/236) along with Consent Clause (Ex. AW-1/237);

- (cxcvi) Deed of Guarantee dated 27.03.2015 executed by the defendant no. 6 (Ex. AW-1/238), in terms of the Board Resolution dated 26.03.2015 passed by defendant no. 6 (Ex. AW-1/239) along with Consent Clause (Ex. AW-1/240);

- (cxcvii) Deed of Guarantee dated 27.03.2015 executed by the defendant no. 7 (Ex. AW-1/241), in terms of the Board Resolution dated 26.03.2015 passed by defendant no. 7 (Ex. AW-1/242) along with Consent Clause (Ex. AW-1/243);

- (cxcviii) Deed of Guarantee dated 27.03.2015 executed by the defendant no. 8 (Ex. AW-1/244), in terms of 

the Board Resolution dated 26.03.2015 passed by defendant no. 8 (Ex. AW-1/245) along with Consent Clause (Ex. AW-1/246);

- (cxcix) Deed of Guarantee dated 27.03.2015 executed by the defendant no. 9 (Ex. AW-1/247), in terms of the Board Resolution dated 26.03.2015 passed by defendant no. 9 (Ex. AW-1/248) along with Consent Clause (Ex. AW-1/249);

- (cc) Consent for Disclosure executed by Defendant no. 1 dated 27.03.2015 (Ex. AW-1/250);

- (cci) Balance Confirmation of defendant no. 1 on 10.03.2015 (Ex. AW-1/251) and 01.06.2015 (Ex. AW-1/251-A) confirming the balance in accounts with Applicant No. 4 Bank;

- (ccii) Demand Notice / Recall Notice dated 02.11.2016 issued by applicant no. 4 (Ex. AW-1/252) along with postal receipts (Ex. AW-1/253 to 260);

- (cciii) Sanction Letter dated 19.11.2013 of applicant no. 5 / SBT (Ex. AW-1/261);

- (cciv) Sanction Letter 22.04.2015 of applicant no. 5 / SBT (Ex. AW-1/262);

- (ccv) Board Resolution dated 08.05.2015 of the Defendant no. 1 (Ex. AW-1/263);

- (ccvi) Agreement of loan dated 09.05.2015 executed by the Defendant no. 1 (Ex. AW-1/264);

- (ccvii) Deed of Hypothecation dated 09.05.2015 executed by Defendant no. 1 (Ex. AW-1/265);

- (ccviii) Letter regarding the grant of individual limits dated 09.05.2015 executed by the defendant no. 1 (Ex. AW-1/266);

- (ccix) Deed of Guarantee dated 09.05.2015 executed by the defendants no. 2 to 4 (Ex. AW-1/267);

- (ccx) Deed of Guarantee dated 09.05.2015 executed by the defendant no. 5 (Ex. AW-1/268), in terms of the Board Resolution dated 08.05.2015 passed by defendant no. 5 (Ex. AW-1/269);

- (ccxi) Deed of Guarantee dated 09.05.2015 executed by the defendant no. 6 (Ex. AW-1/270), in terms of the Board Resolution dated 08.05.2015 passed by defendant no. 6 (Ex. AW-1/271);

(ccxii) Deed of Guarantee dated 09.05.2015 executed by the defendant no. 7 (Ex. AW-1/272), in terms of the Board Resolution dated 08.05.2015 passed by defendant no. 7 (Ex. AW-1/273);

(ccxiii) Deed of Guarantee dated 09.05.2015 executed by the defendant no. 8 (Ex. AW-1/274), in terms of the Board Resolution dated 08.05.2015 passed by defendant no. 8 (Ex. AW-1/275);

(ccxiv) Deed of Guarantee dated 09.05.2015 executed by the defendant no. 9 (Ex. AW-1/276), in terms of the Board Resolution dated 08.05.2015 passed by defendant no. 9 (Ex. AW-1/277);

(ccxv) Balance confirmation done by defendant no. 1 on 24.01.2014 (Ex. AW-1/278) and 03.04.2014 as on 31.03.2014 (Ex. AW-1/279) with Applicant No. 5 Bank;

(ccxvi) Demand Notice / Recall Notice dated 17.05.2016 issued by applicant no. 5 (Ex. AW-1/280) a/w postal receipts (Ex. AW-1/271 to 288);

(ccxvii) Sanction Letter dated 06.01.2014 of applicant no. 6 (Ex. AW-1/289); (ccxviii) Balance Confirmation done by defendant no. 1 on 04.04.2013 confirming the balance as on 31.03.2013 with the applicant no. 6 bank (Ex. AW-1/290);

(ccxix) Balance confirmation done by defendant no. 1 on 16.05.2014 confirming the balance as on 31.03.2014 (Ex. AW-1/291);

(ccxx) Letter dated 28.05.2014 of defendant no. 1 admitting the balances in the accounts of defendant no.1 (Ex. AW-1/292);

(ccxxi) Demand Notice / Recall Notice dated 06.05.2016 issued by applicant no. 6 bank (Ex. AW-1/293) along with postal receipts (Ex. AW-1/294 to 304);

(ccxxii) Sanction Letter dated 28.03.2013 of applicant no. 7 bank (Ex. AW-1/305);

- (ccxxiii) Deed of Guarantee dated 30.03.2013 executed by defendant no. 10 (Ex. AW-1/306) in terms of Board Resolution dated 30.03.2013 passed by defendant no. 10 (Ex. AW-1/307);

- (ccxxiv) Sanction letter dated 27.01.2014 of applicant no. 7 (Ex. AW-1/308);

- (ccxxv) Deed of Guarantee dated 31.01.2014 executed by defendant no. 10 (Ex. AW-1/309) in terms of Board Resolution dated 30.01.2014 passed by defendant no. 10 (Ex. AW-1/310);

- (ccxxvi) Demand Notice / Recall Notice dated 21.10.2015 issued by applicant no. 7 (Ex. AW-1/311) along with postal receipts (Ex. AW-1/312);

- (ccxxvii) Sanction Letter dated 07.05.2014 of applicant no. 8 / Vijaya Bank (Ex. AW-1/313);

- (ccxxviii) Notice under Section 13(2) of the SARFAESI Act dated 24.10.2016 issued by applicant no. 8 (Ex. AW-1/314) along with postal receipts (Ex. AW-1/314-A);

- (ccxxix) Sanction Letter dated 12.04.2014 of applicant no. 9 bank (Ex. AW-1/315);

- (ccxxx) Demand Notice / Recall Notice dated 04.05.2015 issued by applicant no. 9 (Ex. AW-1/316) along with postal receipts (Ex. AW-1/317 to 323);

- (ccxxxii) Sanction Letter dated 04.01.2014 issued by applicant no. 10 (Ex. AW-1/324);

- (ccxxxii) Board Resolution dated 06.01.2014 passed by defendant no. 1 (Ex. AW-1/325);

- (ccxxxiii) Demand Notice / Recall Notice dated 05.01.2016 issued by applicant no. 10 to the Defendant no. 1 (Ex. AW-1/326) along with postal receipts of the same (Ex. AW-1/327);

- (ccxxxiv) Demand Notice / Recall Notice dated 16.03.2016 issued by applicant no. 10 to the Defendant no. 5 to 8 (Ex. AW-1/328);

- (ccxxxv) Demand Notice / Recall Notice dated 16.03.2016 issued by applicant no. 10 to the Defendants no. 2 & 3 (Ex. AW-1/329);

- (ccxxxvi) Notice for publication of names and photographs of the Promoters / Guarantors along with postal receipts (Ex. AW-1/330);

- (ccxxxvii) Sanction Letter dated 22.05.2014 issued by applicant no. 11 bank (Ex. AW-1/331);

- (ccxxxviii) letter dated 01.09.2014 of applicant no. 11 revalidating the sanction (Ex. AW-1/332);

- (ccxxxix) Letter dated 05.10.2015 of applicant no. 11 to defendant no. 1 (Ex. AW-1/333);

- (ccxli) Demand Notice / Recall Notice dated 26.04.2016 issued by applicant no. 11 to the defendants (Ex. AW-1/334) along with postal receipts (Ex. AW-1/335 to 343);

- (ccxli) Sanction Letter dated 31.01.2013 issued by Applicant No. 12 (Ex. AW-1/344);

- (ccxlil) Board Resolution dated 04.02.2013 passed by defendant no. 1 (Ex. AW-1/345);

- (ccxlilii) Balance Confirmation dated 11.04.2014 and 09.04.2015 of defendant no. 1 (Ex. AW-1/346 & AW-1/347);

- (ccxliv) Demand Notice / Recall Notice dated 12.05.2016 issued by applicant no. 12 bank to defendant no. 1 (Ex. AW-1/348) alongwith postal receipts (Ex. AW-1/349);

- (ccxlv) Notice dated 11.08.2016 issued by applicant no. 12 bank to the Guarantors / Defendants (Ex. AW-1/350);

- (ccxlvi) Sanction Letter dated 31.03.2012 of applicant no. 13 bank / IOB (Ex. AW-1/351);

- (ccxlvii) Sanction Letter dated 12.06.2014 of applicant no. 13 bank (Ex. AW-1/352);

- (ccxlviii) Sanction Letter dated 30.03.2015 of applicant no. 13 bank (Ex. AW-1/353);

- (ccclix) Board Resolution dated 20.03.2015 passed by Defendant no. 1 (Ex. AW-1/354);

- (ccl) Demand Promissory Note dated 20.03.2015 executed by defendant no. 1 along with DP Delivery letter dated 20.03.2015 (Ex. AW-1/355 & 1/356);

- (ccli) Supplemental Deed of Hypothecation dated 20.03.2015 executed by the Defendant no. 1 (Ex. AW-1/357);

- (cclii) Letter of Hypothecation dated 20.03.2015 executed by the Defendant no. 1 (Ex. AW-1/358);

- (ccliii) Hypothecation of Book-Debts dated 20.03.2015 executed by the Defendant no. 1 (Ex. AW-1/359);

- (ccliv) Letter of Hypothecation for open advances dated 20.03.2015 executed by the Defendant no. 1 (Ex. AW-1/360);

- (cclv) Letter of Hypothecation for negotiating bills or Bills of Exchange dated 20.03.2015 executed by the Defendant no. 1 in favour of the Applicant Bank (Ex. AW-1/361);

- (cclvi) Deed of Guarantee dated 20.03.2015 executed by the Defendant no. 2 (Ex. AW-1/362) along with Consent / Authorization Letter for Disclosure dated 20.03.2015 (Ex. AW-1/363);

- (cclvii) Deed of Guarantee dated 20.03.2015 executed by the Defendant no. 3 (Ex. AW-1/364) along with Consent / Authorization Letter for Disclosure dated 20.03.2015 (Ex. AW-1/365);

- (cclviii) Deed of Guarantee dated 20.03.2015 executed by the Defendant no. 4 (Ex. AW-1/366) along with Consent / Authorization Letter for Disclosure dated 20.03.2015 (Ex. AW-1/367);

- (cclix) Deed of Guarantee dated 20.03.2015 executed by the Defendant no. 5 (Ex. AW-1/368) in terms of the Board Resolution dated 20.03.2015 passed by the defendant no. 5 (Ex. AW-1/369) along with Consent / Authorization Letter for Disclosure dated 20.03.2015 (Ex. AW-1/370);

- (cclx) Deed of Guarantee dated 20.03.2015 executed by the Defendant no. 6 (Ex. AW-1/371) in terms of the Board Resolution dated 20.03.2015 passed by defendant no. 6 (Ex. AW-1/372) along with Consent / Authorization Letter for Disclosure dated 20.03.2015 (Ex. AW-1/373);

- (cclxii) Deed of Guarantee dated 20.03.2015 executed by the Defendant no. 7 (Ex. AW-1/374) in terms of the Board Resolution dated 20.03.2015 passed by defendant no. 7 (Ex. AW-1/375) along with Consent / Authorization Letter for Disclosure dated 20.03.2015 (Ex. AW-1/376);

- (cclxiii) Deed of Guarantee dated 20.03.2015 executed by the Defendant no. 8 (Ex. AW-1/377) in terms of the Board Resolution dated 20.03.2015 passed by defendant no. 8 (Ex. AW-1/378) along with Consent / Authorization Letter for Disclosure dated 20.03.2015 (Ex. AW-1/379);

- (celxiii) Deed of Guarantee dated 20.03.2015 executed by the Defendant no. 10 (Ex. AW-1/380) in terms of the Board Resolution dated 20.03.2015 passed by defendant no. 10 (Ex. AW-1/381) along with Consent / Authorization Letter for Disclosure dated 20.03.2015 (Ex. AW-1/382); 

- (cclxiv) Consent / Authorization Letter for Disclosure dated 20.03.2015 executed by Defendant no. 1 (Ex. AW-1/383);

- (cclxv) Undertaking dated 30.06.2014 executed by defendant no. 1 (Ex. AW-1/384);

- (cclxvi) Balance Confirmation certificate dated 08.04.2014 executed by defendant no. 1 (Ex. AW-1/385);

- (cclxvii) Demand Notice / Recall Notice dated 17.06.2016 issued by Applicant no. 13 bank (Ex. AW-1/386);

- (cclxviii) Report dated 09.02.2016 of M/s Shah Jindal & Associates, Chartered Accountants appointed by applicant banks to conduct the stock audit of the defendant no. 1 (Ex. AW-1/387);

- (cclxix) Title documents of the mortgaged properties and/or creation of mortgage by the concerned defendants, [details given in Para 5(YY) (i) to (iv) (belonging to defendant no. 1)]; (v) & (vi) (belonging to defendant no. 2); (vii) (belonging to defendant no. 6); (viii) to (x) (belonging to defendant no. 4); (xi) (belonging to defendant no. 2); (xii) (belonging to defendant no. 3) and (xiii) (belonging to defendants no. 3 & 4) of the OA] as (Ex. AW-1/387 to 1/393), (Ex. AW-1/394 to 1/396); (Ex. AW-1/397 to 1/399), (Ex. AW-1/400 to 1/411), (Ex. AW-1/412 & 1/413); (Ex. AW-1/414 & 1/415); (Ex. AW-1/416), (Ex. AW-1/417 & 1/418); (Ex. AW-1/419 & 1/420), (Ex. AW-1/421), (Ex. AW-1/422 to 1/424), (Ex. AW-1/425 to 1/428), (Ex. AW-1/429 to 1/435);

- (cclxx) Title Deeds of the properties belonging to Defendants no. 2, 3, 4 & 6 delivered to the Bank for creation of charge [details of the properties have been given in Para 5(ZZ) (i) & (ii) – Property of Defendant no. 3; (iii) – Property of Defendant no. 4; (iv) to (vi) Property of Defendant no. 2; (vii) – Property of Defendant no. 4; (viii) – Property of Defendant no. 4; (ix) – Property of Defendant no. 4; (x) – Property of Defendant no. 6; (xi), (xi) & (xii) – Property of Defendant no. 4; (xiii) to (xix) – Property of Defendant no. 6 of the 

OA] as (Ex. AW-1/436 to 1/442), (Ex. AW-1/443 to 1/447); (Ex. AW-1/448 to 1/456), (Ex. AW-1/457 to 1/461), (Ex. AW-1/462 to 1/466), (Ex. AW-1/467 to 1/471), (Ex. AW-1/472 to 1/473), (Ex. AW-1/474 to 1/476), (Ex. AW-1/477 to 1/479), (Ex. AW-1/480 to 1/482), (Ex. AW-1/483 to 1/485), (Ex. AW-1/486), (Ex. AW-1/487 to 1/489), (Ex. AW-1/490 to 1/491), (Ex. AW-1/492 to 1/494), (Ex. AW-1/495), (Ex. AW-1/496), (Ex. AW-1/497 to 1/499), (Ex. AW-1/500 to 1/501) & (Ex. AW-1/502);

- (cclxxi) Balance Sheet dated 03.09.2015 of defendant no. 1 (Ex. AW-1/503);

- (cclxxii) Balance Sheet of defendant no. 1 for the year ending 31.03.2014 (Ex. AW-1/504);

- (cclxxiii) Balance Sheet of defendant no. 1 for the year ending 31.03.2013 (Ex. AW-1/505);

- (cclxxiv) Statement of Accounts with regard to various accounts of defendant no. 1 maintained with Applicant no. 1 Bank (Ex. AW-1/506 to AW-1/510);

- (cclxxv) Statement of Accounts with regard to various accounts of defendant no. 1 maintained with Applicant no. 2 Bank (now stands merged with applicant no. 1 bank / SBI) (Ex. AW-1/511);

- (cclxxvi) Statement of Accounts with regard to various accounts of defendant no. 1 maintained with Applicant no. 3 Bank (now stands merged with applicant no. 1 bank / SBI) (Ex. AW-1/512 & AW-1/513);

- (cclxxvii) Statement of Accounts with regard to various accounts of defendant no. 1 maintained with Applicant no. 4 Bank (now stands merged with applicant no. 1 bank / SBI) (Ex. AW-1/514);

- (cclxxviii) Statement of Accounts with regard to various accounts of defendant no. 1 maintained with 

Applicant no. 5 Bank (now stands merged with applicant no. 1 bank / SBI) (Ex. AW-1/515); (cclxxix) Statement of Accounts with regard to various accounts of defendant no. 1 maintained with Applicant no. 6 Bank (now stands merged with applicant no. 1 bank / SBI) (Ex. AW-1/516);

(cclxxx) Statement of Accounts with regard to various accounts of defendant no. 1 maintained with Applicant no. 7 Bank (Ex. AW-1/517); (cclxxxxi) Statement of Accounts with regard to various accounts of defendant no. 1 maintained with Applicant no. 8 Bank (Ex. AW-1/518); (cclxxxii) Statement of Accounts with regard to various accounts of defendant no. 1 maintained with Applicant no. 9 Bank (Ex. AW-1/519);

(cclxxxiii) Statement of Accounts with regard to various accounts of defendant no. 1 maintained with Applicant no. 10 Bank (Ex. AW-1/520); (cclxxxiv) Statement of Accounts with regard to various accounts of defendant no. 1 maintained with Applicant no. 11 Bank (Ex. AW-1/521 & AW-1/522); (cclxxxv) Statement of Accounts with regard to various accounts of defendant no. 1 maintained with Applicant no. 12 Bank (Ex. AW-1/523); (cclxxxvi) Statement of Accounts with regard to various accounts of defendant no. 1 maintained with Applicant no. 13 Bank (Ex. AW-1/524 & AW-1/525).

7. So far as, Evidence of defendants no. 1, 2 & 4(ii) are concerned, Defendant no. 2 [who is defendant no. 4(ii) also] have filed the evidence by way of affidavit of Sh. Siddharth Chaudhary [defendant no. 2 / defendant no. 4(ii)] and has 

relied upon the following documents which were filed with their WS and Counter Claim :-

- (i) Final TEV report by Dun & Bradstreet dated 15.03.2016 (DW 1/1);

- (ii) TEV 2^nd draft study report by Dun & Bradstreet dated 22.02.2016 (DW 1/2);

- (iii) TEV 1^st draft study report by Dun & Bradstreet dated 30.01.2016 (DW 1/3);

- (iv) Mail from Company to Consortium members dated 09.04.2016 (DW 1/4);

- (v) Consortium meeting held on 29.03.2016 (DW 1/5);

- (vi) Letter from Company to DGM, SBI dated 15.03.2016 (DW 1/6);

- (vii) Letter from Company to RM, SBI dated 24.12.2015 (DW 1/7);

- (viii) Consortium meeting held on 03.12.2015 (DW 1/8);

- (ix) Letter from Company to DGM, SBI dated 16.11.2015 (DW 1/9);

- (x) Mail from Company to SBI dated 02.09.2015 (DW 1/10);

- (xi) Consortium meeting held on 13.08.2015 (DW 1/11);

- (xii) Letter from Company to DGM, SBI dated 18.07.2015 (DW 1/12);

- (xiii) Letter from Company to all consortium members dated 30.06.2015 (DW 1/13);

- (xiv) Consortium meeting held on 11.05.2015 (DW 1/14);

- (xv) Letter from Company to DGM, SBI dated 03.06.2015 (DW 1/15);

- (xvi) Letter from Company to DGM, SBI dated 20.04.2015 (DW 1/16);

- (xvii) Letter from Company to AGM, SBI dated 27.04.2015 (DW 1/17);

- (xviii) Sanction Letter by SBI dated 21.03.2015 (DW 1/18);

- (xix) Credit Proposal No. P00421601 by SBI (DW 1/19);

- (xx) Minutes of Consortium meeting held on 18.03.2015 (DW 1/20);

- (xxi) Minutes of Consortium meeting held on 03.03.2015 (DW 1/21);

- (xxii) Minutes of Consortium meeting held on 05.02.2015 (DW 1/22);

- (xxiii) Minutes of Consortium meeting held on 30.12.2014 (DW 1/23);

- (xxiv) Communication between Company and CGM, SBI mail dated 01.10.2014 (DW 1/24);

- (xxv) Letter from company to SBI dated 11.09.2014 (DW 1/25);

- (xxvi) Letter from company to SBI dated 27.06.2014 (DW 1/26);

- (xxvii) Letter from company to SBI dated 20.05.2014 (DW 1/27);

- (xxviii) Minutes of Consortium Meeting held on 13.05.2014 (DW 1/28);

- (xxix) RBI's circular for formation of JLF and rectification measures dated 31.03.2014 (DW 1/29);

- (xxx) Consortium Meeting held on 22.03.2014 (DW 1/30);

(xxxii) Special Study report by Sonalal Datta dated 04.04.2014 (DW 1/31)

8. So far as, defendant no. 4(iii) / Sh. Mohit Chaudhary is concerned, he has also filed evidence by way of his affidavit stating that he is also the attorney of Sh. Sidharth Chaudhary / defendant no. 2 (attorney in his favour has been filed as DW1/A) and has relied upon the documents filed by defendant no. 2 / Sidharth Chaudhary.

8.1 It is matter of record that in the order dated 15.02.2020 passed by the Tribunal, it was recorded that the evidence filed by defendant no. 4 shall confine to the defendant no. 4 only. Thereafter, one IA No. 626/2020 was filed by defendant no. 4(iii) praying therein to recall the order dated 15.02.2020 passed by this Tribunal and to consider the evidence filed and exhibited by attorney of defendant no. 2. However, said IA was dismissed vide order dated 12.01.2024

In the light of above, it is clear that the documents relied by defendant no. 2 cannot be considered for defendant no. 4(iii).

9. So far as, rest of the contesting defendants no. 3 / defendant no. 4(i), 4(v) & 4(vi), 5, 6 & 9 are concerned, they did not chose to file their evidence, hence the defence taken by these defendants remained unsubstantiated / corroborated.

10. So far as, defendants no. 11 & 12 are concerned, they have also filed their evidence by way of affidavit(s) of their authorized officers. However, it is matter of record defendants no. 11 & 12 are proforma defendants against whom no relief has been claimed by the applicant banks.

11. It is pertinent to note here that during the pendency of this OA, applicant bank moved IA No. 553/2023 for seeking substitution of applicant nos. 2 to 6 with State Bank of India i.e. applicant no. 1 bank and the said IA was allowed vide order date 14.12.2023 of this Tribunal.

11.1 Similarly, one more IA No. 566/2023 for seeking substitution of applicant no. 8 / Vijaya Bank with Bank of Baroda and the said IA was also allowed vide order date 14.12.2023 of this Tribunal.

11.2 Further more, one more application i.e. IA No. 1219/2024 was filed by the applicant for seeking substitution of defendant no. 11 / OBC with PNB and the said IA was also allowed vide order date 18.09.2024 of this Tribunal.

12. It is also important to note here that during the pendency of this OA, one application being IA No. 524/2024 was filed on behalf of applicant bank for seeking impleadment of Official Liquidator, attached to Hon'ble High Court of Delhi and the said IA was allowed vide order date 21.06.2024 of this Tribunal and the OL was impleaded in this OA in place of defendant no. 1 company.

12.1 It is also matter of record, after impleadment of OL, Ld. counsel for OL appeared before the Tribunal and filed the Status Report as well.

13. It is also matter of record that after filing the WS, defendants no. 5, 6 to 9 stopped entering before the Tribunal and the case was proceeded ex parte qua defendants no. 5 to 10 vide order dated 18.09.2024 of this Tribunal.

14. It is pertinent to mention here that during the pendency of this case, OL attached to Hon'ble High Court of Delhi was impleaded in place of defendant no. 1 company and the OL filed its Status Report (as discussed above).

15. It is also pertinent to note here that during the pendency of this case, it was informed by the parties that personal insolvency proceedings have been initiated qua defendants no. 2 / defendant no. 4(ii) and defendant no. 3 / defendant no. 4(i) before Ld. NCLT, Delhi.

16. Applicant Banks have also filed their written submissions.

17. Heard Ld. counsels for the contesting parties and perused the entire record.

17.1 In the present case, the defendant no. 1 is under Liquidation as per orders passed by Hon'ble High Court of Delhi whereas Defendants no. 2 / defendant no. 4(ii) and Defendant no. 3 / (defendant no. 4(i) are before Ld. NCLT, Delhi. So far as, defendants no. 5 to 10 are concerned, they are ex parte since 18.09.2024.

17.2 Since, defendant no. 1 has already gone into liquidation as per the orders passed by Hon'ble High Court of Delhi, hence, secured assets / hypothecated goods / stocks of defendant no. 1 shall be disposed off as per directions of Hon'ble High Court of Delhi and no order for recovery of dues can be passed by this Tribunal qua defendant no. 1. However, it is directed that in case applicant Banks receives any amount from liquidation proceedings, it shall give due adjustment of the same in the recovery proceedings.

17.3 So far as, defendants 2 / 4(ii) and defendant no. 3 / 4(i) are concerned, since Defendants no. 2 and 3 are already before Ld. NCLT, New Delhi, hence, no order for recovery of dues can be passed by this Tribunal against defendants no. 2 / 4(ii) & defendant no. 3 / 4(i) as well, at this stage. till the relevant order(s) of Ld. NCLT are withdrawn / quashed.

However, it is directed that applicant banks shall be at liberty to revive the OA qua defendants no. 2 / 4(ii) & defendant no. 3 / 4(i) , in case personal insolvency proceedings pending before Ld. NCLT, Delhi 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, Delhi, it shall give due adjustment of the same in the recovery proceedings.

17.4 Since, defendant no. 1 is under liquidation and defendants no. 2 [defendant no. 4(ii)] & 3 [defendant no. 4(i)] are before Ld. NCLT, Delhi (as stated above), hence no final order can be passed qua these defendants, at this stage. Further more, no order on counter claim can also be passed as well. In these circumstances, there is no need to deal with the objections raised in the WS as well as Counter Claim of defendants no. 1 & 2 [who is impleaded as 4(ii)]

also being LR] and the WS of defendant no. 3 / [who is impleaded as 4(i) also being LR].

17.5 Now, I would like to deal with the common objections raised by defendants no. 4(iii), (v) and (vi) in their common WS following paras:-

- (i) The defendants have raised an objection that the present OA is not legally maintainable since the documents referred to in the OA have not been filed and the documents so served are also incomplete.

It is matter of record that the applicant banks have already filed all the relevant documents in support of their claim which have also been proved by them. On the other hand, the answering defendants have already filed their WS that too without any documentary evidence. In these circumstances, this Tribunal is of the view that this plea of answering defendants does not hold any water and same stands rejected.

- (ii) Next objection raised by defendants is that it is a common fact that the Applicant Bank / FIs generally obtain blank documents from the borrowers, those are then later on filled up without the consent or knowledge of the borrower and the same is the position in the instant case also.

This Tribunal is of the view that plea of blank documents is no plea in the eyes of law as has been held by the Hon'ble Delhi High Court in the matter of "Indian Bank Vs. Cheese Wafers (India) Pvt. Ltd It was held if the defendants have not filed any complaint before higher authorities of the bank or filed any complaint before police authorities.....". Thus, the plea of blank / unfilled documents, alleged to be misused by the applicant banks for creating false claims, is not maintainable after filing of the suit and the same is rejected.

- (iii) The defendants have also taken a plea that the applicant bank has not filed correct and complete statement of account of all the accounts of the principal borrower.

It is matter of record that the Applicants No. 1 to 13 have filed their respective Statement of Account(s) duly certified under Bankers Books of Evidence Act as well as calculation sheets of the accrued interest and the Statement showing the total outstanding amount (Ex.AW1/506 to AW1/1525). Even otherwise, the answering defendants were always at liberty to file its own statement(s) of accounts with correct figures but they have failed to do so. In these circumstances, this plea of answering defendants no. 4(iii), (v) and (vi) is also hereby rejected.

- (iv) Defendants have also raised an objection that this OA has not been signed, verified not instituted by duly authorized and competent persons.

It is matter of record that the Applicants have relied upon various gazette notifications issued by Government of India, as well as power of attorney(s) & Board Resolution issued by applicant banks in favour of the officers of the said banks which have been duly proved by the applicant bank. In these circumstances, this plea of answering defendants no. 4(iii), (v) and (vi) does not hold any water and same stands rejected.

(iv) Next objection of defendants is that the OA is on different causes of action for the different alleged loans granted to the defendants, hence the OA is barred by Rule 10 of DRT (Procedure) Rules 1993.

I do not find any merit in the contention of the answering defendants as the record of this OA reveals that all the relief(s) claimed in the OA are connected to each other. The present OA is filed by the applicant Banks for the recovery of their respective dues, which are due from the same set of defendants who availed the credit facilities from the applicants (individually as well as under consortium). The defendants have not denied the availment of loan facilities. In these circumstances, this plea of defendants is hereby rejected.

(v) The answering Defendants have also raised an objection that the subject matter of this OA does not fall within the jurisdiction of this Tribunal.

On perusal of record, it is clear that this OA was original filed before Ld. DRT-II, Delhi and at that time Ld. DRT-II had jurisdiction to entertain this OA. The said OA was subsequently transferred to this Tribunal in pursuance to Gazette Notification dated 04.10.2022 issued by Govt. of India and now this Tribunal is having jurisdiction to entertain this OA. Hence, the present objection of answering defendants no. 4(iii), (v) and (vi) is liable to be dismissed and same stands rejected.

- (viii) Further, the defendants have also taken a plea that this OA has not been filed within the period of limitation.

Record reveals that this OA was filed by the applicant banks on 09.02.2017 and the security documents were executed by the defendants till March 2015. Moreover, defendant no. 1 confirmed the balance in various accounts of applicant banks no. 1 to 13 by executing Balance Confirmation Letters from time to time as well as in its Balance Sheets for the years ending 2013, 2014 and 2015 as well. All the said Balance Confirmation Letters and Balance Sheets of defendant no. 1 have also been filed by the applicant banks which have been duly proved. Hence, this Tribunal is of the view that this OA has been filed well within the period of limitation

(ix) Next objection of the defendants is that the alleged creation of mortgage over the properties is denied.

It is matter of record that the applicant banks have duly filed various documents revealing that a number of immovable properties were mortgaged by defendants no. 1 to 4 and 6 by depositing title deeds of the said properties and created mortgage by signing memorandum of entry of banks as well. The relevant documents including title deeds of the mortgaged properties have already been proved by the applicant banks. Hence, mere denial of creation of mortgage does not suffice the purpose. Accordingly, this plea of answering defendants is hereby rejected.

(x) It is also contended in their WS that the answering defendants are the legal heirs of late Sh. C.P. Chaudhary, hence, the alleged liability could not be fastened upon the answering defendants.

There is no dispute in this fact that defendants no. 4(i) to (vi) have been impleaded as LRs of deceased defendant no. 4 / Sh. C.P. Chaudhary and defendants no. 4(i) and 4(ii) are also arrayed as main defendants no. 3 and 2 respectively. Hence, liability of defendants no. 4(i) & 4(ii) cannot be confined to the liability of LRs.


It is also matter of record that defendant no. 4 had mortgaged various properties in favour of applicant banks (which has already been proved by the banks by filing documentary evidence); hence, the said properties shall be sold during execution proceedings.

So far as, defendants no. 4(iii) to 4(vi) are concerned, since they are the LR's of deceased defendant no. 4, hence, their liability shall be restricted to the extent of estate inherited by them from defendant no. 4.

With the above said observations, this plea of defendants no. 4(iii), (v) and (vi) stands disposed off accordingly.

17.6 Now I would like to deal with the objections raised by defendants no. 5, 6 & 9 in their respective WS(s) :-

- (i) The answering Defendants have raised an objection that the OA has not been signed, verified not instituted by duly authorized and competent persons.

This issue has already been decided while dealing with the objections raised by defendants no. 4(iii), (v) and (vi).

- (ii) Next objection of the defendants is that the OA is based on false, fabricated and manufactured documents, hence, no liability can be fastened upon the answering defendants on the basis of any of the alleged documents filed by the Applicant Banks. It is stated that the alleged balance confirmations were obtained by the Applicant Banks are totally vitiated and void as the applicant banks exercised undue influence and misrepresentation upon the Defendants to obtain their signature on the alleged documents which were proforma documents. Further more, the statement of accounts / ledgers are also fabricated and incorrect. It is also stated that the alleged guarantees are void being without any consideration and have been got signed by exercising undue influence and misrepresentation upon the Defendants. It is further stated that the said documents were blank and in a stipulated proforma. Thus, the alleged guarantees stand discharged in view of the illegal acts of misfeasance and malfeasance and omission and commission committed by the Applicant Banks.

This issue has also been decided while dealing with the objections raised by defendants no. 4(iii), (v) and (vi).

(iii) Defendants have also taken a plea that the subject matter of this OA does not fall within the jurisdiction of this Tribunal.

This issue has already been decided while dealing with the objections raised by defendants no. 4(iii), (v) and (vi).

(iv) Defendants have further raised an objection that the alleged limits were sanctioned after a long delay used to defeat the very purpose for which 

the sanction was sought besides causing losses on account of cost overrun or lack of required working capital.

Since answering defendants no. 5, 6 & 9 have not filed any Counter Claim or set off nor they have chosen to file any evidence, hence, this Tribunal is of the view that the objections raised by these defendants remained unsubstantiated / uncorroborated. Accordingly, this plea of defendants is hereby rejected.

- (vi) Defendants have also taken a plea that the alleged accounts maintained by the Applicant Banks are disputed by the answering defendants stating that that applicants have wrongly debited the said alleged accounts with amounts which were never disbursed and excessive and usurious rates of interest which were never agreed upon by the Defendant no. 1.

This issue has already been decided while dealing with the objections raised by defendants no. 4(iii), (v) and (vi).

17.7 Moreover, defendants no. 11 & 12 are Proforma defendants as no relief has been claimed by the Applicant against the said defendants.

17.8 On the other hand, the witness of Applicant Banks have fully corroborated the averments made in the OA. Even otherwise the whole case of the applicants is based on the documents and the witness has duly proved all these documents. The evidence filed by the applicant gone unrebutted and there is no question of disbelieving the evidence lead by the applicant banks and applicant banks have proved their case beyond reasonable doubts. Accordingly, the Applicant Banks are entitled to recover the entire amount, as claimed in the OA from the defendants no. 4(iii) to 4(vi) and defendants no. 5 to 10 along with pendentelite interest i.e. @12% p.a. and costs as agreed between the parties. **However, the liability of defendants no. 4(iii) to 4(vi) shall be restricted to the extent of estate inherited by them from deceased defendant no. 4.**

17.9 In this OA, applicant has prayed to issue recovery certificate against defendants no. 1 to 10 wherein the defendant 1 is principle borrower and defendants no. 2 & 3 as well as deceased defendant no. 4 are personal guarantors whereas defendant no. 5 to 10 are corporate guarantors.

17.10 Since Defendant no. 1 has already gone into liquidation as per orders of Hon'ble High Court of Delhi, hence, secured assets / hypothecated goods / stocks of defendant no. 1 shall be disposed off as per directions of Hon'ble High Court of Delhi and no order for recovery of dues can be passed by this Tribunal qua defendant no. 1. However, it is directed that in case applicant Banks receives any amount from liquidation proceedings, it shall give due adjustment of the same in the recovery proceedings.

17.11 So far as, defendants no. 2 / 4(ii) and defendant no. 3 / 4(i) are concerned, since these defendants are before Ld. NCLT, hence, no order qua defendants no. 2 & 3 [who are also impleaded as LR's of defendant no. 4 being defendants no. 4(ii) and 4(i) respectively] can be passed against said defendants at this stage.

However, it is directed that applicant bank shall be at liberty to revive the OA qua defendants no. 2 & 3 [who are also impleaded as LRs of defendant no. 4 being defendants no. 4(ii) and 4(i) respectively] in case 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.

18. Consequently, TA No. 28/2022 is liable to be allowed in favour of the Applicant Banks and against defendants no. 4(iii) to 4(vi) being LRs of Defendant no. 4 (who stood as personal guarantor) and defendants no. 5 to 10 being corporate guarantors as they are liable to pay the dues of the Applicant Banks along with costs and pendentelite & future interest @12% p.a. from the date of filing of present OA, till the date of payment in full.

**However, the liability of defendants no. 4(iii) to 4(vi) shall be restricted to the extent of estate inherited by them from deceased defendant no. 4.**

18.1 It is also important to note here that there are this OA has been filed by thirteen Applicant Banks out of which some have been merged / amalgamated with some other banks, which is duly recorded in previous Paras of this Order. Hence, the substituted Banks shall be entitled for recovery of their respective amount (s) due against the defendants.

ORDER

(i) TA No. 28/2022 stands allowed in favour of applicant banks and against defendants no. 4 (iii) to (vi) and defendants no. 5 to 10, who are liable to pay the amount due to the banks, jointly and severally. Now these defendants are directed to pay to the applicant banks no. 1 to 13, within 30 days, the following amounts due :-

<thead> <tr> <th>Applicants</th> <th>Amount due<br/>(Rupees)</th> </tr> </thead> <tbody> <tr> <td>Applicant No. 1</td> <td></td> </tr> <tr> <td>(i) Cash Credit Account</td> <td>134,09,81,049.00</td> </tr> <tr> <td>(ii) Export Packing Credit A/c</td> <td>96,37,021.05</td> </tr> <tr> <td>(iii) Term Loan-I A/c</td> <td>9,73,09,521.88</td> </tr> <tr> <td>(iv) Term Loan-II A/c</td> <td>30,81,44,205.60</td> </tr> <tr> <td>(v) Term Loan-III A/c</td> <td>48,41,33,889.60</td> </tr> <tr> <td>Applicant No. 2</td> <td></td> </tr> <tr> <td>Cash Credit A/c</td> <td>55,17,10,403.00</td> </tr> <tr> <td>Applicant No. 3</td> <td></td> </tr> <tr> <td>Cash Credit A/c &amp; EPC A/c</td> <td>61,30,61,196.00</td> </tr> <tr> <td>Applicant No. 4</td> <td></td> </tr> <tr> <td>Cash Credit A/c</td> <td>125,33,73,197.00</td> </tr> <tr> <td>Applicant No. 5</td> <td></td> </tr> <tr> <td>Cash Credit A/c</td> <td>120,85,25,647.00</td> </tr> <tr> <td>Applicant No. 6</td> <td></td> </tr> <tr> <td>Cash Credit A/c</td> <td>37,35,39,699.58</td> </tr> <tr> <td>Applicant No. 7</td> <td></td> </tr> <tr> <td>Cash Credit A/c</td> <td>25,97,35,458.48</td> </tr> <tr> <td>Applicant No. 8</td> <td></td> </tr> <tr> <td>Cash Credit A/c</td> <td>33,19,86,794.00</td> </tr> <tr> <td>Applicant No. 9</td> <td></td> </tr> <tr> <td>Cash Credit A/c</td> <td>53,87,94,482.00</td> </tr> </tbody> </table>

<tr> <td>Applicant No. 10<br/>Cash Credit A/c</td> <td>32,44,25,243.60</td> </tr> <tr> <td>Applicant No. 11<br/>Cash Credit A/c &amp; Pre-<br/>Shipment Credit A/c</td> <td>38,87,55,581.15</td> </tr> <tr> <td>Applicant No. 12<br/>Term Loan 2 A/c</td> <td>21,64,93,914.16</td> </tr> <tr> <td>Applicant No. 13<br/>(i) Cash Credit Account</td> <td>105,15,33,067.00</td> </tr> <tr> <td>(ii) Term Loan-II A/c</td> <td>31,45,31,659.00</td> </tr> <tr>

<td><b>966,66,72,029.10</b></td> </tr> </table>

along with costs and pendentelite & future interest @12 % p.a. from the date of filing of this OA till realization of the entire dues of the Applicant which, the aforesaid amount shall be recovered from the sale secured assets viz. mortgaged properties / hypothecated assets / pledged shares (belonging to defendants no. 4 and 5 to 10) and in case of shortfall from the sale of movable and immovable assets of the defendants no. 4 and 5 to 10.

**However, the liability of defendants no. 4(iii) to 4(vi) shall be restricted to the extent of estate inherited by them from deceased defendant no. 4.**

(ii) So far as, defendant no. 1 is concerned, since Defendant no. 1 has already gone into liquidation and OL has also been appointed, as stated above, hence, secured assets / hypothecated goods / stocks of defendant no. 1 shall be disposed off as per directions of Hon'ble High Court of Delhi and no order for recovery of dues can be passed by this 

Tribunal qua defendant no. 1. However, it is directed that in case applicant banks receive any amount from liquidation proceedings, it shall give due adjustment of the same in the recovery proceedings.

- (iii) So far as, defendants no. 2 / 4(ii) and defendant no. 3 / 4(i) are concerned, since these defendants are before Ld. NCLT, hence, no order qua defendants no. 2 & 3 [who are also impleaded as LRs of defendant no. 4 being defendants no. 4(ii) and 4(i) respectively] can be passed against said defendants at this stage.

However, it is directed that applicant bank shall be at liberty to revive the OA qua defendants no. 2 & 3 [who are also impleaded as LRs of defendant no. 4 being defendants no. 4(ii) and 4(i) respectively] in case 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.

- (iv) So far as, Counter Claim filed on behalf of Defendants no. 1 and 2 / 4(ii) is concerned, in the light of detailed discussion above, the Counter Claim filed on behalf of Defendants no. 1 & 2 (as defendant no. 1 is under liquidation and defendant no. 2 is already before Ld. NCLT, Delhi), hence, no order can be passed on the Counter Claim.


TA-28/2022

- (v) 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.

- (vi) It is also directed that the Applicants shall adjust the amount(s), if any, received from the defendants during the pendency of this case.

- (vii) The recovery certificate be issued forthwith and be sent to the Recovery Officer-I, Debts Recovery Tribunal-III, Delhi.

- (viii) Parties are directed to appear before the Recovery Officer-I, DRT-III, Delhi on 16.02.2026.

- (ix) Copies of final order as well as Recovery Certificate be sent to all concerned free of cost.

File be closed and consigned to records.

09.12.2025

(SHIV KUMAR - I) PRESIDING OFFICER, DRT-III, DELHI

(Pronounced in open court) Dated: 09.12.2025

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