JAMALUDEEN T. Vs. STATE BANK OF MYSORE

JUDGEMENT

(1.) THE 1st petitioner admittedly is a defaulter and the Cash Credit Loan availed of from the respondent -Bank, to which the 2nd petitioner is a guarantor, has exceeded the limit and has been recalled. The petitioners pray for settlement of the entire dues within a period of six months.

(2.) THE learned counsel appearing for the respondent -Bank, however, objects to that, on the facts as disclosed from the materials placed before this Court. In fact when the writ petition was filed, the entire facts were not disclosed and on specific direction by this Court, a separate petition has been filed, producing the relevant documents.

(3.) THE learned counsel for the petitioners, however, submits that in fact after the petitioners had obtained Exhibit P6 judgment, the petitioners had approached the respondent -Bank and the Bank had agreed to grant a loan to settle the Cash Credit Loan, if three other loans were settled, which is evidenced by Exhibit P2. The learned counsel for the respondent -Bank alertly points to the receipts, produced as Exhibit P2, which are all with respect to other individuals, who, according to the petitioner, are his staff members. In any event, it is submitted that there was another property mortgaged in the said loan, which was released after the said loans were settled and the petitioners had effected sale of the said property also.