CANARA BANK Vs. VARA TRADING CO

JUDGEMENT

(1.) THIS Regular first Appeal is filed by the plaintiff-Bank questioning the correctness of the Judgment and Decree dated 11-9-1998 in O. S. 3469/ 90 passed by the 16th Addl. City Civil Judge, bangalore in dismissing the original suit with costs and sought for setting aside the same and prayed to pass Judgment and decree as prayed in the suit, urging various legal contentions.

(2.) THE rank of the parties is referred to in this Judgment as per their ranking before the trial Court for the sake of convenience.

(3.) THE plaintiff filed suit against the defendants to recover a sum of Rs. 3,68,951. 30 together with interest at 19. 5% p. a. compounded quarterly from the date of suit till the date of realization by sale of the schedule property belonging to the second and third defendants which is mortgaged in favour of Bank and further if, sale proceeds are found to be insufficient then, the decree against the defendants to recover the same personally from them by stating various facts in the plaint.