ANIYAN Vs. FEDERAL BANK LTD

JUDGEMENT

(1.) The judgment debtors are the revision petitioners.

(2.) The respondent bank sanctioned a loan of Rs. 3,593/- to the first petitioner under the T.R.D P. Scheme. The first petitioner availed of the same on 9-3-1984. Petitioners 2 and 3 are the sureties.

(3.) The first petitioner failed to repay the loan amount. This resulted in the respondent bank getting Revenue Recovery proceedings initiated for recovery of the amounts due from the petitioner under the loan transaction; and in connection with that, the authority concerned got the demand notice. No. Cl-2092/ 87 demanding a sum of Rs. 4,288.78, served on the first petitioner. In response to the demand notice the first petitioner on 28-4-1987 paid Rs. 1,000/- and the entire balance amount due, namely Rs. 3,385.40 was paid on 13-5-1987 and obtained receipts for the payments. The liability under the loan transaction thus got discharged.