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1958 Supreme(Ker) 200

KUMARA PILLAI, T.K.JOSEPH
George – Appellant
Versus
South Indian Bank Ltd. – Respondent


Judgment :-

1. These appeals arise from the decree in a suit for recovery of money. Defendants 2 to 5 are the sons of the 1st defendant and the 6th defendant is the second defendant's wife. Defendants 1 to 6 executed an overdraft agreement Ext. A dated 24-10-1947 to the plaintiff Bank for Rs. 1,25000/-. They also executed a promissory note Ext. B on the same day as collateral Security for the loan. An equitable mortgage of the immovable properties described in Schedule A appended to the plaint was also made in favour of the plaintiff, by deposit of title deeds, Ext. D-2 being the memorandum. Items Nos. 9 to 11 in Schedule.8 are described in schedule B. These belong to defendants 2 and 6. Sometime after the commencement of the transaction, defendants 1 to 6 requested the plaintiff to release the charge over these items on receipt of Rs. 15,400/-. They offered to furnish additional security for releasing these items and the properties in the schedule C were given as additional security. On 7-11-1947 the plaintiff accepted this proposal and sent a reply Ext H. Amounts were borrowed by defendants 1 to 6 for the purchase of some buses of which the 4 buses described in schedule D were gi












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