ON THE DEATH OF RAMGOPAL MALPANI HIS LEGAL HEIRS ARE SMTI PARBATI DEVI MALPANI WIFE ORS Vs. PUNJAB AND SIND BANK AND ORS

JUDGEMENT

(1.) The above two appeals are directed against the judgment, dated 24.02.200 6 and decree, dated 28.02.2006, passed by the learned Addl. District Judge, Jorh at, in Money Suit No.7 of 2004, whereby, it has been held that the plaintiff-res pondent bank is entitled to recover a sum of Rs.6,96,585.55/- from the defendant -appellants with interest @15% p.a. from the date of institution of the suit.

(2.) Heard Mr. T. Islam, Mr. H. L. Maurya, Mr. Debesh Chakrobarty and Mr. Jay anta Deka, learned counsel for the appellants and respondents respectively in bo th the R.F.As.

(3.) The brief fact of the case is that the Punjab and Sind Bank after proces sing all formalities sanctioned an amount of Rs.1,45,000/- to the present appell ant/defendant no.1, Sri Sushil Kumar Mandal for purchasing a Truck with terms an d conditions inter alia that said Sri Mandal will pay monthly instalment of Rs.5 000/- towards repayment of the loan amount and also to pay 15% interest, per a nnum, thereon. Proforma defendant-respondent No.2, Sri Muktinath Rai and Appella nt in R.F.A.No.83 of 2006, Sri Ramgopal Malpani (since deseased)/defendant No. 3 were the guarantors of the said borrower namely, Sri Sushil Kumar Mandal. After the death of Sri Ramgopal Malpani, his legal heirs represented him. The borrowe r, Sri Sushil Kumar Mandal agreed on the terms and conditions of the loan amount and purchased TDV (Truck) which remained hypothecated with the respondent/Punja b and Sind Bank under the agreement. When said Sri Sushil Kumar Mandal became ir regular in payment of his monthly instalments of Rs.5000/- against the loan amou nt, Respondent/Punjab and Sind Bank initially communicated to said borrower to p ay his instalments due on the loan amount and ultimately issued a pleader's noti ce on 22.02.1996 demanding repayment of their entire outstanding amount of Rs.3, 86,758/- as on 23.06.1995 and 15.09.1995, for which said Sri Sushil Kumar Mandal /defendant no.1 prayed for time for payment. According to the bank, the borrower Sri Sushil Kumar Mandal paid an amount of Rs.500/- lastly on 24.06.1996. Failin g to serve any fruitful purpose by another pleader's notice, dated 22.02.1996, t he Bank also served pleader's notice to the borrower on 12.04.1999 asking for re payment of Rs.5,60,295.55/- as on 22.02.1999. Since the pleader's notices to rec over the loan amount could not yield any result, the Bank instituted the instant Money Suit for realisation of Rs.6,96,585.55/- from the defendant-appellants.