SATHIADEV

These appeals are preferred by State Bank of India, Arantangi Branch against the judgments in O.S. Nos. 9, 10, 12 and 11 of 1978 on the file of Sub-Court, Pudukottal. The said suits were filed for recovery of amounts due and payable by the respective defendants based on amounts borrowed by them by executing promissory notes and pledging their jewels on different dates agreeing to pay interest at 2% above State Bank of India advance rate with a minimum of 12% p.a. with quarterly rests. The loans were payable on demand. As Head Office of the Plaintiff Bank at Madras entertained suspicion on a large number of loans taken by one Sathiah, in July, 1975 a detailed verification of ornaments pledged by him, his relatives and associates of whom the defendants happened to be some; it was found that spurious jewels have been deposited, and therefore complaints were lodged with Arantangi Police, who investigated the matter and the same is pending. The jewels were seized by the Police along with the original promissory notes. Without prejudice to the rights of plaintiff to proceed by way of sale of pledged articles, as and when they are returned to the plaintiff by the Crim