it is not so easy to provide case laws/citations merely on basis of the very limited information provided
all the papers will have to be gone into
the OP filed by the bank has to be read in detail to figure out how according to the bank the new borrowers R1 and R2 committed defaults in repayment
there are no available case laws that can be found instantly pertaining to the facts of your case as each case differs
more information is required
i do not understand why the amount was again deposited in the loan account of the company which was the original borrower and to which a no dues certificate was issued by the bank
what are the documents that were executed between the bank and R1 and R2 on the rescheduling of the loan? without seeing all the relevant papers, no case laws can be found