Legal Question in Banking Law in India

My Company has been wrongfully declared as NPA by State Bank of India for not repaying SLC(Standby Line of Credit) fully in time. Actually, at the time of our sanction of EPC limit and SLC limit with the bank, we insisted for Sanction letter from the bank but we were not given the letter with details and we were guided by our RM that SLC can be adjusted in part payments and we followed his advice. We had availed 50 lacs as SLC and had obligation to pay back in part within 6 months. Ex: Our RM advised that we can revolve 20 lacs at a time and the balance 30 can be done in parts later but within 6 months. We followed his advice and within 1 year we had revolved SLC to the value of 1.6 cr but in parts. At the time of audit, our company was declared sub standard NPA because we failed to fulfill our obligation. Even after this ordeal, we were granted enhancement of our limits by SBI in october same year but we cannot change our bank because of our account being mentioned as sub standard in CIBIL rating. Now, our bank is charging is us very high interest rate and we are left with very few options. We seek guidance with regard to our rights and options.

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