B.M. SHYAM PRASAD, J.

1. The appellants, who have executed separate Deeds of Guarantee in favour of the Karnataka State Financial Corporation (for short 'Financial Corporation') have filed this appeal impugning the order dated 25.03.2010 in Misc. Petition No.57 of 2005 on the file of the II Addl. District Judge, Mysore (for short, 'the learned District Judge').

2. The learned District Judge has allowed the petition filed by the Financial Corporation in Misc. Petition No.57 of 2005 under Section 31(1)(aa) of the State Financial Corporations Act, 1951 (for short 'the Act') against the appellants declaring that the Financial Corporation is entitled to enforce the respective Deeds of Guarantee executed by the appellants in favour of the Financial Corporation in the following terms.

(i) The Financial Corporation is entitled to enforce the liability of respondent No. 2 and 3 under the Deeds of Guarantee executed by them on 13.3.1985 and 27.3.1986 for the Term Loan of Rs. 30,00,000/- and the accrued contractual interest thereon,

(ii) The Financial Corporation is entitled to enfo