SHRAVAN JAIRAM JADHAV Vs. STATE BANK OF INDIA

JUDGEMENT

(1.) :- Heard learned Advocate Shri A. B. Naik for the petitioner, Shri A. H. Joshi, learned Advocate for respondent No. 1 and learned Advocate Shri J. S. Gavane for respondent No. 4. Liberty to delete respondents Nos. 2 and 3. The validity of section 31 of the Recovery of Debts Due to Banking and financial Institutions Act, 1993, is not pressed.

(2.) RULE, made returnable forthwith. With the consent of the parties, the matter is heard finally.

(3.) THE respondent No. 1 bank had advanced a loan of Rs. five lacs to present petitioner on 13th April, 1983. The deleted respondents No. 3 and 4 stood sureties for the petitioner to the bank. Another loan of Rs. Ten lacs was also advanced by the respondent No. 1 bank to the petitioner. Petitioner also availed one more financial assistance for agricultural purposes i. e. grape-vine and purchase of trailer. The petitioner could not repay the loan, as agreed, and, therefore, the respondent No. 1 Bank filed Special Civil Suit no. 63/1990 in the Court of Civil Judge, Senior Division, kopergaon, district Ahmednagar, for the purpose of recovery of Rs. 12,53,586-55.