1. This Civil 1st Appeal is directed against the judgment and decree dated 10.09.2001 passed by the Addl. District Judge, Srinagar, whereby suit for recovery, titled as J&K Bank Vs. Ghulam Mohd. Ganai & others, came to be decreed in favour of plaintiff-respondent bank and against the defendants-appellants, on the grounds taken in the memo of appeal (hereinafter, for short, impugned judgment).

Brief Facts

2. Defendant-appellant No. 1 approached the plaintiff-respondent bank on 09.10.1975 for grant of loan facility for purchase of Tata Diesel Vehicle and loan facility to the extent of Rs. 95, 000/ - was sanctioned in his favour. He availed the facility after executing the documents viz, DP Note dated 09.10.1975 for Rs. 95, 000/-, Trust Receipt, Deed of Hypothecation and Irrevocable Power of Attorney. Defendants-appellants 2 & 3 executed the Deed of Guarantee and undertook to indemnify the plaintiff-respondent bank. It is also averred in the plaint that defendant-appellant no. 1 executed DP Note dated 09.10.1981 for Rs. 77, 996, 77 in favour of plaintiff-respondent bank and also executed DP Note dated 30.09.1987 for an amount of Rs. 1, 25, 895. 67. The said DP notes were executed to sav

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