1. These two appeals arise out of judgment of the learned Single Judge in C.S. No. 388/1977. O.S.A. No. 11/86 is preferred by the defendants 6 & 7. OSA No. 126/86 is preferred by the defendants 2 and 4. The plaintiff Bank of Baroda instituted a suit against the defendants 1 to 7 in the Original side of this Court for recovery of a sum of Rs. 9,74,736.38 from defendants 1 to 5 and for recovery of a sum of Rs. 72,647.55, on equitable mortgage, security furnished by the defendants 6 and 7. Towards guarantee l iability. The pleadings of the plaintiff and the defendants summarised by the learned judge is as follows:—

“The first defendant is the firm, Raghava and Veera of which defendants 2 and 3 are the partners. The Ist defendant had banking facilities with the Plaintiff. In 1970, the cash credit facility was increased to the limit of Rs. 8,75,000/- and the same was further raised to the limit of Rs. 9,00,000/-. Defendants 1 to 3 executed a promissory note on 13.7.1970 for Rs. 8,75,000/- undertaking to pay interest at 4% over the Reserve Bank of India rate with a minimum of 9% per annum up to the limit of Rs. 3,7 5,000/- and for the amounts in excess of Rs. 3,75,00/- with a m