BODHAN SINGH GAUTAM Vs. CENTRAL BANK OF INDIA

JUDGEMENT

(1.) THIS is an appeal directed against the judgment and decree dated 30.4.1988 passed by the Addl. District Judge, Durg, in Civil Suit No. 26 -B of 1987 whereby the learned Addl. District Judge has decreed the suit of the plaintiff -Central Bank of India.

(2.) THE brief facts giving rise to this appeal are that the plaintiff -Central Bank of India advanced a loan to the appellant/defendant No. 1 for purchasing of truck to the tune of Rs. 2,59,000/ -. The defendant No. 1 purchased a truck Ford Tipar bearing No. MBT -4847 and it was being used with Modi Cement Factory, Modi Gram, Tahsil Baloda Bazar, Raipur, for loading and unloading of cement. The loan was sanctioned by the plaintiff - Bank on 13.7.1983. The defendant No. 1 executed a document and signed the same for grant of loan. The defendants No. 2 and 3 executed guarantee documents in favour of the defendant No. 1/appellant. The aforesaid loan amount was to be repaid in easy instalments in a sum of Rs. 6,500/ - per month. It is alleged that despite repeated demand made by the plaintiff -Bank, the defendant No. 1/appellant did not pay the instalment amount; therefore, the plaintiff -Bank filed a suit.

(3.) ON the basis of the pleadings of the parties, four issues were framed. The trial Court held that the plaintiff -Bank is entitled to recover a sum of Rs. 3,62,490.40 from the defendant No. 1. It was also held that the Truck No. M.B.T. - 4847 was hypothecated with the plaintiff -Bank. The allegation that Shri Shantilal Jain played a fraud and got these documents signed by the defendant No. 1, was not found to be substantiated and accordingly, the trial Court decreed the suit of the plaintiff as aforesaid. Hence the present appeal.