D.G.R.PATNAIK
Union Bank of India – Appellant
Versus
Annapurna Udyog – Respondent
2. The case of the plaintiff is that the defendant No. 1 being a partnership firm represented by defendant Nos. 2 and 3 was extended a term loan facility to the extent of Rs. 1.83 lakh by the plaintiff-Bank for the purpose of setting up their business. The term loan was sanctioned by the bank vide letter dated 26-3-1974. The defendant had further applied for a cash credit facility to the tune of Rs. 30,000/- (rupees thirty thousand) and by way of security, an equitable mortgage in respect of the landed property on which the factory is situated, was created in favour of the plaintiff-bank by depositing title deeds. The d
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