R.SUBBIAH, R.BANUMATHI
Indian Bank, Vellore Main Branch, rep. by its Zonal Manager – Appellant
Versus
M. Ayub Khan Y – Respondent
R. SUBBIAH, J.
Aggrieved over the dismissal of suit (dated 14.02.2006) as against the guarantors i.e. defendants 2 to 4 passed by the learned Additional District and Sessions Judge, Fast Track Court, Vellore in O.S.No.48 of 2005, Bank has preferred this Appeal.
2. Appellant is the Indian Bank, Vellore Main Branch and respondents are defendants 1 to 4. For easy reference, parties are referred to as per their ranking in the original suit.
3. Brief facts of Plaintiff Bank are as follows:
(a) Plaintiff bank filed the suit for recovery of Rs.6,05,486.45 from the defendants jointly and severally towards the secured over draft facility together with future interest at 20.25% with quarterly rests, and in failure of the same, sale of schedule mentioned properties may be passed.
(b) Case of plaintiff bank is that D1 was doing wholesale business in purchase and sale of beedi leaves. On 08.02.1990, D1 borrowed Rs.2,00,000/-as secured over draft facility from the bank for his business and executed a Pronote on the same day agreeing to repay the same with interest at 15% per annum with quarterly rests. For the said loan, D2 to D4 executed two distinct guarantee deeds in favour of
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