A.B. Pal, J.

1. The judgment and decree dated 17.7.97 and 24.7.97 respectively passed by the learned Civil Judge, Sr. Division, West Tripura, Agartala in Money suit No. 47 of 1994 whereby Rs.25,52,424/- against a claim of Rs.36,66,953/- with interest @ Rs.10% per annum with cost of the suit has been decreed against the Appellant-Bank stands impugned in the present appeal.

2. The money suit was filed by M/s Basant Cables and Conductors Pvt. Ltd. (hereinafter mentioned Company) and its three Directors, the Respondents herein, against the U.C.O. Bank (for short, Bank) and Sri Ranjit Roy Choudhury who was at the relevant period its Chief Manager of Agartala Branch, the Appellants herein. The Director of Industries Government of Tripura was arrayed as a proforma-Defendant though no relief was sought against the State of Tripura on the Director of Industries. The Plaintiff Company, the first Respondent herein, was registered under the Indian Companies Act, 1956 with a view to set up an industry in the State of Tripura for manufacturing aluminium conductors as a Small Scale Industry (SSI) Unit known as Basant Engineering having been registered as SSI Unit with the approval of the fi