AJIT BORTHAKUR, J.

1. The above two appeals are directed against the judgment, dated 24.02.2006 and decree, dated 28.02.2006, passed by the learned Addl. District Judge, Jorhat, in Money Suit No. 7 of 2004, whereby, it has been held that the plaintiff-respondent bank is entitled to recover a sum of Rs. 6,96,585.55/- from the defendant-appellants with interest @ 15% p.a. from the date of institution of the suit.

2. Heard Mr. T. Islam, Mr. H.L. Maurya. Mr. Debesh Chakraborty and Mr. Jayanta Deka, learned counsel for the appellants and respondents respectively in both the R.F.As.

3. The brief fact of the case is that the Punjab and Sind Bank after processing all formalities sanctioned an amount of Rs. 1,45,000/- to the present appellant/defendant No. 1, Sri Sushil Kumar Mandal for purchasing a Truck with terms and conditions inter alia that said Sri Mandal will pay monthly instalment of Rs. 5000/- towards repayment of the loan amount and also to pay 15% interest, per annum, thereon. Proforma defendant-respondent No. 2, Sri Muktinath Rai and Appellant in R.F.A. No. 83 of 2006, Sri Ramgopal Malpani (since deceased)/defendant No. 3 were the guarantors of the said borrower namely,