BANK OF INDIA Vs. GULAB SINGH

JUDGEMENT

(1.) APPELLANT/plaintiff has filed the appeal under Section 96 of the Code of Civil Procedure challenging the judgment and decree dated 5. 8. 1988 passed by IInd Additional Judge to the Court of District Judge, Sehore in Civil Suit No. 109-B/87 wherein the suit for recovery of Rs. 21,733 with interest was dismissed.

(2.) THE admitted facts of the case are that the respondent/defendant No. 1 applied for the loan for purchasing bullocks and buffaloes to run a dairy business and on 6. 6. 1978 the plaintiff Bank extended for the same two loans of Rs. 6,000/- and Rs. 2,000/- to the defendant No. 1. It is also not in dispute that the defendant Nos. 2 and 3 were the guarantors. That respondent defendants have agreed in writing to pay with interest at the rate of 13% per annum to the plaintiff Bank.

(3.) THE case of the plaintiff/bank is that the amount of loan was not repaid by the respondent even after several demands and service of legal notice dated 20. 11. 81. That decree for Rs. 21,733. 79 be passed in favour of the plaintiff/bank against the defendants, jointly and severally, along with the interest at the rate of 13% per annum.