D.G. DESHPANDE, J.:---This is a Bank suit for recovering a sum of Rs. 59, 33, 000/- and odd from the defendants. It is the case of the plaintiff that the defendant No. 1 was a company registered under the Indian Companies Act 1956 and defendant Nos. 2 and 3 were the directors of defendant No. 1 and they are the guarantors in their personal capacity. Four different facilities were granted by the plaintiff-Bank to the defendants. First was a secured term loan facility against hypothecation of the vehicle with a limit of Rs. 3, 41, 000/-; second was a term loan facility against mortgage of land and building with a limit of Rs. 18, 42, 000/-; third was again a term loan facility against hypothecation of machinery with a limit of Rs. 4, 42, 000/- and fourth facility was secured term loan facility against hypothecation of machinery with a limit of Rs. 4, 30, 000/-. According to the Bank, the defendants had executed all the necessary documents in favour of the plaintiffs-Bank in respect of all these facilities and executed simple mortgage and lease and guarantee etc. as per the details given in the plaint. Further the defendants executed four separate letters of acknowledgments o