Ranjit Singh, Chairperson—This Appeal is filed by Indian Bank against the order passed by the Tribunal below holding the Bank entitled to recover a sum of Rs. 11,62,922/- from the Defendant Nos. 1,2, 3, 4 and 7 jointly and severally alongwith costs, pendente lite and future interest @ 12% p.a. w.e.f. 16.5.1990. The liability of Defendant Nos. 4 and 7 is limited only to Rs. 10,66,023/- alongwith costs, pendente lite and future interest @ 12% p.a. whereas the claim against Defendant Nos. 5 and 6 has been dismissed as it was found not proved. The Bank is aggrieved against that part of the order whereby its claim against Defendant Nos. 5 and 6 (Mr. Suresh Kochar and Mr. Raja Singh, Respondent Nos. 5 and 6 herein) has been dismissed and also against that part of the order whereby the liability of Defendant Nos. 4 and 7 (Smt. Sweety Jain and Mr. Jagnadan Prashad, Respondent Nos. 4 and 7 herein) has been limited to Rs. 10,66,023/- alongwith costs and interest.

2. The Respondent Company No.1 had been maintaining a current account with the Appellant Bank. On the request made through its Directors (Respondent Nos. 2 to 6) the Bank sanctioned a Foreign Bills Purchase Discounting facili