(1.) THE plaintiff is the appellant. Parties are referred to as the plaintiff and the defendants. Suit is filed for realisation of an amount of Rs. 3,05,474/ - with future interest and costs. The plaintiff alleged that as per three separate transactions, viz. overdraft cash credit facility, key cash credit loan facility and term loan account amounts were due to the plaintiff. The defendants mortgaged their immovable properties as security for the facilities and also hypothecated the goods. When the amounts were not paid and remained outstanding, notices were issued and since the defendants failed to pay the amount the suit is filed.
(2.) THE first defendant is a company and defendants 2 and 3 are its directors. 4th defendant is a guarantor. The 1st defendant contended that the plaintiff Bank having granted more facilities than the limit prescribed was not entitled to recover the amount as claimed. They specifically denied the liability to pay the overdraft cash credit facility and key cash credit loan facility though admitted the term loan transaction. It is also contended that all the claims were barred by limitation. However, the 1st defendant admitted that the goods in possession and custody of the plaintiff under the loan account of the hypothecated goods could be taken over and sold for realisation of any dues.
(3.) THE court below framed various issues as to whether the plaint claim is genuine in respect of the amount due under the open cash credit facility and key loan account, whether there is a valid mortgage in respect of plaint A schedule. whether the plaintiff is entitled to claim different loan amounts in a single suit and whether the plaintiff is entitled to get a decree, as prayed for.