K.A.MUKTADAR, K.JAYACHANDRA REDDY
Gollamudi Siva Kumari – Appellant
Versus
Indian Overseas Bank, Guntur – Respondent
( 1 ) DEFENDANTS 1, 2 and 6 in O. S. No. 150/1970 on the file of the Subordinate Judges Court, Guntur, are the appellants in this appeal. The plaintiff-1st respondent, Indian Overseas Bank, laid the suit for recovery of Rs. 70,046-70 ps. due under a mortgage.
( 2 ) THE case of the plaintiff is as follows: The 1st defendant is the wife of one late Gollamudi Madana Mohana Rao, and 2nd defendant is the son, the 6th defendant is the daughter, the 3rd defendant is the mother and the 4th defendant is his brother. Madana Mohana Rao approached the plaintiff-Bank for a cash credit facility of Rs. 65,000. 00 for making additions and improvements to his hotel building Durga Bhavan situated in the 3rd line, Brodipet, Guntur-2. The loan was sanctioned on 8-10-1969 and the same was repayable in monthly instalments of Rs. 1,500. 00, commencing from the month of March, 1970. Defendants 4 and 5 stood as sureties. Madana Mohana Rao executed promissory notes on 8-10-1969 for a sum of Rs. 65,000. 00 with interest thereon at the rate of 91/2% and defendants 4 and 5 signed the guarantee on the same day jointly and severally guaranteeing the payment of debt. On the same day Madana M
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