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IN THE HIGH COURT OF KARNATAKA, DHARWAD BENCH
R.NATARAJ, RAJESH RAI K.
Asha B.Kulkarni – Appellant
Versus
Prakash, S/o. Narayan Nadakarni – Respondent
JUDGMENT :
(R. NATARAJ, J.)
This regular first appeal is filed by one of the legal heirs of the deceased defendant challenging the judgment and decree dated 17.09.2018 passed by the III Additional Senior Civil Judge, Belagavi (hereinafter referred to as the ‘trial Court’ for short) in O.S.No.49/2014, by which the suit was decreed and the legal representatives of deceased defendant were held jointly and severally liable to pay a sum of Rs.33,40,000/- to the plaintiffs along with interest at the rate of 12.5% per annum from the date of suit till realization.
2. The parties shall henceforth be referred to as they were arrayed before the trial Court.
3. The suit in O.S.No.49/2014 was filed by a guarantor/surety to recover a sum of Rs.38,17,600/- from the principal debtor/defendant along with interest at the rate of 18% per annum from 31.12.2013 till realization. The plaintiffs claimed that plaintiff No.1 being a partner of M/s. Century Fine Chemical Works raised a loan from State Bank of Mysore, Raviwar Pet Branch, Belagavi in the year 1998. The plaintiff No.2 who established business of Belgaum Construction Works had raised a loan from State Bank of Mysore, Raviwar Pet Branch, Belagavi. T
Legal representatives of a deceased debtor are liable for debts only to the extent of property inherited from the deceased, reinforcing the surety's right to indemnification under the Indian Contract....
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The legal representatives of a deceased person are liable only to the extent of the property of the deceased that has come into their hands. The liability of a surety is co-extensive with that of the....
The proceedings initiated against the original borrower for enforcement of security interest stand concluded by virtue of intimation served upon them, and the death of the original borrower occurring....
A will must be executed and attested as per legal requirements to be valid, and a nominee under the Life Insurance Act does not have absolute rights over the benefits but holds them in trust for the ....
No recovery of excess pension can be made from legal heirs of a deceased employee in the absence of statutory provisions, affirming the constitutional right to pension under Article 300A.
The surety's liability persists despite creditor actions that do not impair the security, as established in the guarantee deed.
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