T.RAVINDRAN
Tamil Nadu Mercantile Bank Limited, Vellore – Appellant
Versus
B. T. Rajan & Co. , Arcot – Respondent
(Prayer: Appeal Suit filed under Section 96 and under Order 41 Rule 1 of Civil Procedure Code to set aside the judgment and decree of the Sub Court, Ranipet made in O.S. No. 550/91, dated 17.02.94.)
1. Aggrieved over the judgment and decree dated 17.02.1994, passed in O.S. No.550 of 1991, on the file of the Subordinate Court, Ranipet, the plaintiff has come forward with the present first appeal.
2. For the sake of convenience, the parties are referred to as per their rankings in the trial Court.
3. Suit for recovery of money based on mortgage.
4. Shorn of unnecessary details, according to the plaintiff, the defendants availed loan facilities from the plaintiff's bank for establishing a new Auto Service Station and accordingly, mortgaged their properties in favour of the plaintiff's bank by way of depositing the title deeds and as per the terms of the loan sanctioned, it is stated that the plaintiff had disbursed a total sum of Rs.1,00,250/- as loan to the defendants for the abovesaid business venture and the defendants agreed to repay the borrowed sum in easy installments as agreed to and accordingly, it is the case of the plaintiff that in respect of the loan availed, the de
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