VIJAYA BANK Vs. ELSY JOSE

JUDGEMENT

(1.) THE appellant is the plaintiff in a suit for realisation of money on the basis of a loan availed by the plaintiff. The first defendant, the first respondent herein, availed of a credit facility secured loan of Rs.2,00,000/ - from the appellant Bank on 20.11.2002, agreeing to repay the said amount with interest at the rate of 12% per annum with monthly rests on or before 20.11.2007 in 60 equal monthly instalments. The second defendant who is the second respondent herein was the guarantor in respect of the transaction and Exhibit A4 is the letter of guarantee executed by him. In the said letter of guarantee, provision is provided for due repayment of the amounts under the transaction making himself liable for all such amounts.

(2.) THE Court below decreed the suit allowing the appellant to realize a sum of Rs.2,64,443/ - together with interest at the rate of 14% with monthly rests from the date of suit till the date of decree and thereafter at 6% per annum till realisation from the assets of the first defendant. At the same time, the suit as against the second defendant was dismissed on the ground that it was barred by limitation. This appeal is as against that part of judgment and decree.

(3.) THE respondents remained ex parte in the Court below. In this appeal also respondents have not entered appearance.