C. V. N. SASTRY, J.

( 1 ) HEARD the learned Counsel on both sides.

( 2 ) THE first defendant is the appellant. The suit was filed by the first respondent, Bank of Baroda, Guntur Branch, for recovery of a sum of Rs. 22,295. 55 being the amount due towards the loan sanctioned by the plaintiff to the first defendant for the purchase of a tractor. The second defendant was the guarantor. The amount of loan sanctioned was Rs. 34,000. 00. The first defendant executed a demand promissory note for the said amount in favour of the Bank. He also executed a hypothecation bond hypothecating the tractor. For due repayment of the loan with interest, costs and other charges, the first defendant has also executed the registered mortgage deed dated 4-5-1974 mortgaging the properties shown in the schedule. It appears that the second defendant subsequently took over the tractor from the first defendant and sold away the tractor. The second defendant made certain payments to the plaintiff-bank towards the loan. As the balance was not paid, the suit was filed. An ex parte decree was initially passed on 18-6-1983. But the same was set aside on 14-7-1997 on an application filed by the first defendant and t

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