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The Applicant Bank filed the present OA u/s 19 of of Debts & Bankruptcy Act, 1993 for recovery of Rs.48,08,10,511/- outstanding as on 31.07.2018. The applicant is an assignee Company of erstwhile Andhra Bank which extended credit facilities to the 1st defendant for quite some time, vide assignment deed dated 26.09.2017. Defendants 2 to 4 are the guarantors/mortgagors to the loans. The loan facilities were renewed/enhanced in the years 2014 and 2015 by executing requisite documents. Due to default in repayment, the assignor bank classified the loan as NPA and initiated Securitisation proceedings. With no prospects of repayment, present OA is filed. The defendants filed written statement alleging that the assignor bank made them execute various blank/undated stamp papers/proformas periodically, and deposits made have not been properly accounted for. The OA claim is incorrect in the absence of specific details in the statement of account. The defendants have not disputed their signatures appearing on the Exhibits A.1 to A.35 produced by applicant through AW.1. In light of the foregoing observations, the Evidence Affidavit of AW.1 coupled with the recitals in the documents viz., Exs. A.1 to A.35 marked by way of evidence of AW.1 remain unchallenged and unrebutted. Hence, the defendants are jointly and severally liable to pay the OA claim to the Applicant Bank with future interest and costs.
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