JUDGMENT - A.B. PALKAR, J.:---This appeal is preferred by the original defendant No. 2 Vinayak Keshav Paranjape in Special Civil Suit No. 67 of 1978 against a decree for Rs. 26,750/- with costs and future interest at the rate of seventeen and half per cent on the principal amount of Rs. 20,000/- against the appellant alongwith other two defendants jointly and severally.

2. In order to appreciate the controversy, the following brief summary of facts is material.

The parties are referred to as plaintiffs and defendants as in the trial Court. The suit was filed by Dena Bank against defendant Nos. 1 to 3. Defendant No. 1 being M/s. Surekh Chappal Company, a registered partnership firm dealing in manufacturing foot wears at Nasik of which defendant Nos. 2 and 3 were the partners, at the relevant time when loan was advanced by the plaintiff Bank to the defendant. The plaintiff Bank advanced a loan of Rs. 20,000/- to defendant Nos. 1 to 3, and defendant Nos. 2 and 3 being the partner of defendant No. 1 executed a promissory note and also deed of hypothecation in respect of stock in trade, machinery and other movable property of the firm. The defendants admitted the liability and acknowledg

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