CRNTRAL BANK OF INDIA Vs. MD ANOWARULLAH

JUDGEMENT

(1.) This first appeal is directed against the judgment and decree passed by the Asstt. District Judge, No. 1, Guwahati in Title Suit No. 14/87 on 2.3.94, whereby the suit of the plaintiff was dismissed.

(2.) The appellant-plaintiff, Central Bank of India, herein after referred as bank instituted T.S. No. 14/87 praying for a decree of Rs. 12,53,390.13p. being the amount of loan given by the bank to the defendant - respondent. The plaintiff also sought a preliminary decree against the defendant No. 1 for the sale of the property described in schedule of the plaint. The case of the petitioner is that defendant obtained cash credit facility from the bank, initially, the limit was fixed at Rs. 50,000/-. The limit was subsequently raised and defendant No. 1 executed Demand Promissory note and other documents in favour of the bank and the documents were mortgage. The defendant Nos. 2, 3, 4 stood surety in respect of the said loan. According to the bank, amount due as on 15.1.87 was Rs. 12,53,390.13p. inclusive of interest as defendant failed to make payment inspite of demands made, the bank instituted the suit.

(3.) All the 4(four) respondents filed a joint written statement, wherein the defendants admitted taking of loan to the extent of Rs. 3 lakhs on hypothecation of documents. The defendant, however, denied the other statements made in the plaint.