ASHOK MALKANI Vs. BANK OF BARODA AND ANR.

JUDGEMENT

(1.) Defendant No. 1 has felt aggrieved of the impugned judgment/decree dated 22.7.1994 passed by First Additional District Judge, Ratlam in C.S. No. 15-B/l 988 and has filed this appeal under Sec. 96 of C.P.C. In short the relevant facts are these.

(2.) A suit was brought by the respondent No. 1 -Bank for recovery of Rs. 1,13,691.28 paise on the strength of loan documents executed by appellant (defendant No. 1) and respondent No. 2 (defendant No. 2). The suit was filed on the allegations inter alia that loan was given to appellant for setting up of one factory. The loan was given under various heads and for various facilities such as cash credit facility, term loan, bill discounting facility, working capital. In lieu of this loan the defendant No. 1 executed several documents such as promissory note hypothecation deed, etc. It was alleged that despite the loan having been given, and utilised by the defendant, they did not repay it but at the same time, defendant duly acknowledged the liability of repayment. Since no repayment was made notice was served of the demand and then suit was filed, out of which this appeal arises.

(3.) The defendant Nos. 1 and 2 filed written statement and denied allegations.