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1986 Supreme(AP) 308

K.RAMASWAMY
P. ANJAIAH – Appellant
Versus
State Bank of India, NEW BOIGUDA, SECNNDERABAD – Respondent


K. RAMA SWAMY, J.

( 1 ) THE question of law for consideration is common in all the revisions and they are disposed of by a common judgment.

( 2 ) THE petitioner in all the above 21 civil revision petitions is the second defendant. The respondent-Bank lent money to the first defendant in the suit on a guarantee given by the petitioner. The respondent pleaded that under 20-Point Programme to ameliorate the economic conditions of the weaker sections, the respondent granted loans under clear cash credit facility subject to a maximum of Rs. 500/- on the guarantee furnished by the petitioner and a current account was opened by the respondent in the name of the principal debtor. The principal debtor and the petitioner jointly and severally made liable to pay the amount to the respondent under the clean cash credit facility. Demand was made when the principal debtor committed default in payment of the amount due under the account and suit was laid for recovery of the suit amount. The petitioner in his written statement admitted that he was a surety to the principal debtor for the amount advanced by the respondent. He claimed that the amount has to be recovered within a period of 100 days fr







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