M.THANIKACHALAM, N.V.BALASUBRAMANIAN
C. Narayana Reddy – Appellant
Versus
State Bank of India (Agricultural Development) & Others – Respondent
M. Thanikachalam, J.
In a suit for recovery of a sum of Rs.82,613.85, with subsequent interest, filed by the plaintiff bank, the first defendant unable to resist the same successfully, suffered a decree and the result is this appeal.
2. The first respondent in this appeal as plaintiff had filed a suit against the appellant and others, for recovery of a sum of Rs.82,613.85 with interest thereon at 14« percent per annum. According to the first respondent/ plaintiff, the first defendant on his behalf, and as the power of attorney for other defendants, borrowed a sum of Rs.10,000/- on 27.11.1973 as crop loan, that they have borrowed a further sum of Rs.50,000/-, for the purchase of a tractor and other farm implements, as per the agreement dated 18.2.1975. It is the further case of the plaintiff, that the defendants though agreed to repay the loan amount on instalment basis, failed to pay the same, despite repeated request and demand. The first defendant as the power agent, had acknowledged the liability, by executing the revival letters on 16.1.1978, 25.12.1980, 12.12.1983 and 20.10.1984 and in this view, according to the plaintiff, the suit is in time. The effort of the bank
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