( 1 ) THIS is plaintiffs appeal from the judgment and decree dated 24-10-1996 passed by the Additional Civil Judge and Chief Judicial Magistrate (Mr. R. Chandrashekhar), Shimoga, whereby the Trial Court dismissed the plaintiffs suit in part while decreeing it in part i. e. , for the sum of Rs. 2,92,846. 07 with proportionate costs thereon. The Trial Court held that the defendants are jointly and severally liable to pay the said sum of Rs. 2,92,8467- to the plaintiff-Bank. It also directed that the defendants to pay pendente lite and future interest at the rate of 6% p. a. from the date of the suit till the date of realisation on the principal amount of Rs. 1,23,740/ -. The plaintiff is at liberty to proceed against the mortgaged suit properties by selling the same for realisation of the decretal amount, in case the amount is not paid within six months. The Trial court further directed that the plaintiff is also entitled for personal decree against defendants 1 to 4 if it is found that the proceeds of the sale of the suit properties are not sufficient enough to satisfy the decree and thus directed to draw up a preliminary decree.

( 2 ) THE suit having been decreed in part only i. e. , for a sum of Rs. 2,846/- only as the claim in the suit had been made for the recovery of a sum of Rs. 3,42,956/ -. The appellant-plaintiff being aggrieved by the rejection of the part of claim referred to above has come up by way of appeal in this Court.

( 3 ) THE facts of the case in brief are: according to the case of the plaintiff-Bank the defendants 1 to 4 approached the plaintiff-Bank for financial accommodation and obtained loan on five different occasions viz. , (1) That defendants 1 to 4 approached the plaintiff-Bank for financial accommodation in a sum of Rs. 29,000/- on 7-2-1984 for coconut development and agreed to repay the amount with interest at 2. 5% p. a. above the Reserve Bank of India rate with the minimum of 12. 5% p. a. compounded quarterly or at such other rate of interest which might be specified as per the guidelines of the Reserve Bank of India. The defendants jointly executed the following documents in favour of the plaintiff- bank and availed the loan: (a) Demand Promissory Note dated 7-2-1984. (b) Take delivery letter to D. P. N. dated 7-2-1984. (c) Agreement of hypothecation dated 7-2-1984. (2)THAT defendants 1 to 4 again approached the plaintiff-Bank for financial accommodation in a sum of Rs. 45,000/- for farm development and agriculture to repay the loan amount with interest at 10% p. a. compounded quarterly or at such other rate of interest which might be specified from time to time as per the directions of the Reserve Bank of india. The defendants executed the following documents in favour of the plaintiff-Bank and availed the loan: (a)Demand Promissory Note dated 28-8-1984. (b)Take delivery letter to D. P. N. dated 28-8-1984. (c)Hypothecation agreement of pumpset etc. , dated 28-8-1984. (3)THAT the first defendant again approached the plaintiff-Bank for financial accommodation in a sum of Rs. 1,25,000/- for raising paddy, coconut and banana crops and the 2nd defendant agreed to be the co-obligant. They agreed to repay the amount with interest at 16. 5% p. a. to be applied at quarterly intervals or at such other rate of interest which may be stipulated by the Reserve Bank of India. They executed the memorandum of agreement on 29-1-1986 duly signed by the first defendant and the covenants of co-obligant by the 2nd defendant and availed the loan. The defendants 1 and 2 however executed the acknowledgement of debt on 1-6-1988 and jointly on 25-6-1991 and 2-2-1994. (4)THAT defendants 2 to 4 approached the plaintiff-Bank for financial accommodation in a sum of Rs. 29,200/- for raising sugarcane and paddy and the first defendant agreed to be the co-obligant. They agreed to repay the amount with interest at 16. 5% p. a. compounded quarterly or at such other rate of interest which might be specified from t