BANK OF INDIA Vs. PRITAMSINGH

JUDGEMENT

(1.) THE Appellant Bank as the plaintiff, has come by way of appeal for enhancement of Rs. 3.449 / - which is decreed less according to it. The case of the appellant is that it filed a suit for the recovery of outstanding amount of loan advanced to respondents No. 1, 2. with 3 and 4 as sureties, or guarantees for the purchase of Matadore Vehicle. According to the Bank. at the foot of the account, an amount of Rs. 255562 -50 was outstanding and the suit was for the recovery of the same which inspite of the request of the Bank respondents were not paying. Under the hypothecation agreement, the Bank had a loan over the vehicle and right to sell the same for realisation of the outstanding amount. The Bank by an advertisement published in a News Paper, auctioned the said Matadore under the terms of its contract, which was bid to the highest bidder at the rate of Rs. 21,551/.

(2.) THE Trial Court after receiving the written statement of the respondents. . raised issues and taking the evidence, and hearing the parties, came to the conclusion that the respondent has not cleared the Bank dues and decreed the suit.

(3.) SHRI K.B. Joshi, for respondent No. 1 and 2, Shri Rajesh for respondent No. 4 argued that the suit was not maintainable, as the same has not been filed by a properly constituted Power of Attorney Holder.