T RAJU SETTY Vs. BANK OF BARODA

JUDGEMENT

(1.) This Second Appeal is preferred against the judgment and decree dated 24-3-1979 passed by the learned Civil Judge, Bangalore City in R. A. No. 117 of 1977 confirming the decree dated 20-1-1977 passed in O. S. 257 of 1973 by the learned V Additional I Munsiff, Bangalore.

(2.) The appellant is the 3rd defendant. The respondent is the plaintiff - Bank of Baroda. There were two more defendants in the suit viz., defendants 1 and 2. Defendant No. 1 -H. Malegowda was the principal-debtor and defendant 2 T. B. Subba Rao was one of the sureties.

(3.) The suit was filed on 25-1-1973 for recovery of a sum of Rs. 4, 545-81 (Principal sum being Rs. 3200/-) advanced as a loan to the lst defendant - H. Malegowda on 07-04-l969 under a pronote dated 07-04-1969 and also under a hypothecation deed executed by him on 07-04-1969 hypothecating 3 HP pumpset for which the loan was advanced to defendant No. 1 - H. Malegowda. Defendants 2 and 3 were the guarantors who had executed a guarantee bond on 07-04-1969. As the loan amount was not repaid, the Bank of Baroda - the plaintiff-filed the aforesaid suit seeking a decree in the following terms :