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DELHI HIGH COURT
PRADEEP NANDRAJOG, JJ.R.MIDHA
J.K. Aggarwal – Appellant
Versus
Bank of India – Respondent


JUDGMENT

Pradeep Nandrajog, J.(Oral)

1. Heard learned counsel for the parties.

2. The appellant was undoubtedly a guarantor in respect of a loan advanced to defendant No.1 by respondent No.1 who was the plaintiff. In respect of the loan, defendants No.2 and 3 as also the appellant, impleaded as defendant No.4, stood guarantee for repayment.

3. The suit has been decreed in sum of Rs.7,84,415/- together with pendente lite and future interest @ 18.5% per annum from date of suit till realization.

4. We may note that the principal borrower i.e. defendant No.1 and co-defendants No.2 and 3 have not challenged the decree. Only the appellant is in appeal.

5. The statement of account on which the suit was based has been proved as Ex.P-13. The same reads as under:

DateParticularsDebitsCr. Or Dr.Credits Balance
10/12/97By Balance/Totals as per last statement Brought Forward (To loan disburse)25,00,000Dr.25,00,000
01/01/98To intt upto 31.12.199718,443.64
26/03/98To intt upto 26.03.199871,785.96
27/03/98By Transfer12,960
29/07/98To intt upto 31.07.19982,29,633
30/09/98To intt upto 24.09.199874,644
23/12/98By Transfer10,000
29/12/98To pay slip issued for search in ROC750
1/11/99By Transfer30,0

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