G.L.OZA, V.KHALID
Union Bank Of India – Appellant
Versus
Manku Narayana – Respondent
Judgement
KHALID, J.:- The Union Bank of India is the appellant. This appeal is directed against the order passed by a learned single Judge of the Andhra Pradesh High Court in Civil Revision Petition No. 1743 of 1979, directing the appellant to exhaust the remedies available in law, against the mortgaged property and the principal debtor in execution of a decree obtained by it before proceeding to execute the same against the guarantor.
2. The appellant filed a Suit No. 87 of 1974, against the principal debtor and the guarantors, one of them being the respondent. for recovery of a sum of Rs. 5,626.70. The principal debtor had borrowed a sum of Rs. 5, 100/- from the Bank on 21-10-1970. on the strength of the guarantee executed by the respondent and the principal debtor. By the said guarantee the respondent undertook to repay the sum independently. The principal debtor and others had executed a registered simple mortgage deed dated 16-10-1970, in favour of the Bank creating a mortgage in respect of their joint family property in order to secure due payment of a sum of Rs. 2,300 - out of the loan amount of Rs. 5,100/-. Since the amount remained unpaid a suit was filed by the Bank for r
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