MANEESH ENGINEERING WORKS Vs. STATE BANK OF INDIA

JUDGEMENT

(1.) The defendants against whom a money decree has been passed by the learned Additional District Judge, Durg have preferred this appeal.

(2.) The respondent/plaintiff Bank filed a suit for recovery of Rs. 40,000/- sanctioned as mid-term loan and Rs. 15,000/- sanctioned towards working capital to the first defendant on 16.10.1978 and 26.7.1979 respectively. The second defendant was the guarantor. As the first defendant did not repay the loan as per the agreement, the suit was filed on 5.8.1983.

(3.) Overruling various objections raised by the defendants in the lower Court as to the validity of the plaint presented by the plaintiff, signed by Shri Deshpande and that the documentary evidence produced by the plaintiff is inadmissible in evidence not being documents duly certified under Bankers Book Evidence Act, that the interest claimed by the plaintiff is excessive and is usurious in nature; that there is no proof that the first defendant has signed the applications for loan with knowledge of their contents and that at any rate the suit against the surety is barred by limitation, the learned Addl. District Judge has granted the decree for a sum of Rs. 55,080/-.