( 1 ) THE plaintiff-bank has filed this suit under Order 37 of the Code of Civil Procedure (Code for short) for recovery of Rs. 1,00,391. 74 and also for sale of the hypothecated vehicle under Order 34, Rr. 4,5 and 15 of the Code against the defendants. The allegations are that the plaintiff-bank is a body corporate constituted by the State Bank of India Act, 1955 with its local head office at 11, Parliament Street, New Delhi and central office at Madam Cama Road, Nariman Point, Bombay. The branch at Azadpur is one of its branches. Shri M. P. Singh being the Branch Manager and principal officer of the bank at the time of filing of the suit is authorised by the concerned officers of the bank in the local head office to sign, verify the pleadings and institute the suit.

( 2 ) ON or about 2nd June, 1980, defendant No. 1 approached, requested and applied to the bank vide an application for a medium term lojan of Rs. 1,36,000. 00 for purchasing a transport vehicle, Ashok Leyland Comet 176" (1980) for use in his business of transportation. The loan was sanctioned to de- fendant No. 1 payable in 40 monthly instalments of Rs. 3400/ - us interest commencing from 2nd June, 1980. D