D. P. Sood, J.—Shri Ashok Gautam, the Principal borrower intended to purchase a truck. For that purpose, he made an application Ex. P-l dated 12-2-1982 clarifying that he himself is principal borrower that the loan of Rs. 1,80,700 would be guaranted by defendant No 2 Shri Tilak Raj Sharma. Accordingly, the loan, referred to above, was paid to the loanee, that is, defendant No. 1 on 12-2-1982 The U. Co. Bank a Body Corporate Constituted under the Banking Companies (Acquisition and transfer of undertakings), Act, 1970 (plaintiff) sanctioned the loan pursuant to which the principal borrower as also his principal guarantor executed the various loan, like, Memo of agreement-cum-guarantee deed (Ex- P-2), term loan agreement (Ex P-3) and hypothecation agreement (Ex. P-4). Pursuant to the aforesaid arrangement made in between the parties, the principal borrower Ashok Gautam (Defendant No. 1) was to deposit an amount of Rs. 32,206 from his own pocket in addition to the loan so advanced by the plaintiff for the purchase of the truck. There is no dispute in between the parties regarding the purchase of the truck bearing No.HPK-1885.

2. According to the terms and conditions of the agree