Central Bank of India is a corporate body. Its branch is situated at Bhuntar, tehsil' and District Kullu. The Bank herein was the plaintiff, M/s. Shere-Punjab Cloth Depot and its sole proprietor Sh. Dharam Singh Bhatia - the principal debtors. Sh. Roshan Lal and Sh. Santokh Singh were guarantors. The respondent-Bank filed a suit for recovery of Rs. 13,849.73 paise along with interest at the rate of 15 percent per annum and miscellaneous expenses incurred by it from time to time, in maintaining the accounts. The suit was based on the premise that Dharam Singh Bhatia applied to the respondent-Bank for 'granting cash-credit facility from time to time. Appellant Roshan Lal and Santokh Singh stood guarantors for repayment of loan. The liability in repayment was Joint of the appellant Roshan Lal and other respondents. Sh. Dharam Singh Bhatia principal debtors committed default in payment of the loan therefore, the respondent-Bank was obliged to call upon them to pay the suit amount vide letter dated 21-1-1980. Sh. Dharam Singh Bhatia principal debtors failed to liquidate the debt and hence the suit was filed.
This appeal is directed
against the judgment and decree passed by the District Judge decreeing the suit
of the Bank, was modified and decree for a sum of Rs. 13,849.73 paise with cost
was passed in favour of the plaintiff. The appeal fails and is accordingly
dismissed. The judgment and decree of first Appellate Court are maintained.
However, the parties are left to bear their own costs.
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