ALGEMENE BANK NEDERLAND NV Vs. SATISH DAYALAL CHOKSI

JUDGEMENT

(1.) ORDER :- This is a notice under Order XXI Rule 22 of the Code of Civil Procedure for leave to execute against the defendant in Bombay a decree of the Supreme Court of Hong Kong obtained by the plaintiff-applicant against the defendant.

(2.) THE plaintiff-Bank in Hong Kong had ,dealings with one M/s. Madhusudan and Co. Ltd. To secure the amounts advanced by the plaintiff-Bank to the Company, the brothers of the defendant who were directors of the Company, gave personal guarantees, in or about 7th April 1975, to the plaintiff-Bank at Hong Kong. According to the plaintiff-Bank, the defendant had also executed in favour of the plaintiff-Bank a personal guarantee for repayment of the Company's debts on or about 7th April 1975.

(3.) IN November 1984, as Madhusudan and Co. Ltd. was unable to discharge its liabilities to the plaintiff-Bank, the plaintiff-Bank filed a suit against Mudhusudan and Co. The brothers of the defendant were joined as party defendants on the basis of the guarantees executed by them. The defendant was not joined as a party to this suit and no amount was claimed from him. In December 1984 the suit was decreed against Madhusudan and Co. Ltd. , as well as the brothers of the defendant. On or about 28th January 1985 Madhusudan and Co. was ordered to be wound up.