1. Heard learned counsel for therival parties.

2. This suit is filed by Nationalized Bank against defendant Nos. 1 and 2 for recovery of their dues with interest thereon. Defendant No.1 is proprietorship concern; whereas, defendant no.2 is a guarantor. The defendant no.2 has expired. His heirs and legal representatives were not brought on record. Consequently, the suit stood abated against him.

THE FACTUAL MATRIX:

3. The factual matrix reveal that defendant no.1 enjoyed cash credit facility in the sum of Rs. 80,000/- against hypothecation of cinema equipments, spare parts and other goods lying in the office premises of defendant no.1 located at Purushattam Building, 25-A, Tribhuvan Road, Bombay 440 004.

4. The defendant no.1, in consideration having sanctioned cash credit facility had executed various loan documents including promissory note, deed of hypothecation and pledge of goods with various other documents on 22.5.1987. The details of which are to be found in para 4 of the plaint. In addition to the execution of the loan documents, he had also pledged life insurance policy and furnished guarantee of defendant n