JAYESH KUMAR S VAKIL Vs. CANARA BANK

JUDGEMENT

(1.) THIS revision is directed against the order dated 10. 02. 2003 passed in E. A. No. 3240/2002 in E. A. No. 5223/2001 in E. P. No. 1475/1998 in O. S. No. 271/1986 by the IX Assistant Judge, City Civil Court, Madras.

(2.) THE second Respondent - Judgment Debtor is the Revision Petitioner. Respondent is Canara Bank, Thiruvotiyur Branch, hereinafter referred as Plaintiff Bank.

(3.) FOR better appreciation of the points urged in the revision, it is necessary to trace the filing of the Suit O. S. No. 271/1986 and E. P. No. 1475/1998 and other applications. The deceased first Defendant M. S. Vakil is the Proprietrix of M/s. Suresh Electronics. She has availed OCC Facility by way of working capital to M/s. Suresh Electronics. Her son Suresh S. Vakil, who is the second Judgment Debtor stood as Guarantor for the due repayment of the said loan. The creditors committed default in repayment of the loans. Hence the Plaintiff Bank has filed O. S. No. 271/1986 to recover a sum of Rs. 47,786. 56/- with further interest at 16. 5% p. a. The suit was decreed against the deceased M. S. Vakil as well as her son Suresh S. Vakil on 18. 2. 1987. To recover a sum of Rs. 1,57,703. 50/-, E. P. No. 1475/1998 was filed by the Plaintiff/bank for attachment of movables belonging to the Judgment Debtors.