MD.FAKRUDDIN @ FAKURUDDIN WASID Vs. DENA BANK

JUDGEMENT

(1.) THIS appeal by the appellant -borrower is directed against the judgment and decree dated 7th October, 2005 passed by Subordinate Judge -Vth, Jamshedpur in Money Suit No.70/95, whereby the aforesaid suit filed by the respondent -Bank in 1995 for recovery of Rs.2.00 lacs has been decreed.

(2.) THE facts of the case are not in much dispute.

(3.) FROM perusal of the judgment, it appears that in 2005, when the suit was pending before the court below, the respondent -Bank agreed for a settlement on the basis of one time payment of Rs. 1,05,000/ - but the proposal of the Bank was turned down by the defendant -appellant. In course of argument learned counsel appearing for the parties have not disputed the fact that at the fag end of the hearing of the suit the aforesaid proposal was made by the Bank and which has not been accepted by the respondent. The trial court after considering all the documentary evidences including the promissory note and nature of guarantee both for the term loan and cash credit facility have come to the conclusion that the plaintiff -Bank is entitled for recovery of a sum of Rs. 2,88,684.85 paise.