JUDGMENT :

(Prayer: Appeal Suit has been filed under Order 41, Rule 1 of the Civil Procedure Code r/w under Section 96 of the Civil Procedure Code praying to set aside the decree and judgment passed in O.S.No.1108 of 2005 dated 24.09.2007 by the VI Additional Judge, City Civil Court, Chennai.)

1. Appeal against the money decree passed against the appellants, who stood guarantee for the packing credit facility extended by the first respondent bank to the second respondent.

2. The plaint averment in short:

The plaintiff is a Nationalised Bank. The 1st defendant is the Proprietor of M/s Sithi Vinayagar Exports. During the month of May 2002, to process and execute the orders received for export of onions, the first defendant requested the plaintiff bank to extend the existing packing credit facility to the tune of Rs.5lakhs. Accordingly, the plaintiff-bank sanctioned two export packing credit facilities (P.C.No.22 and P.C.No.24) on 9/05/2002. Defendants 2 to 4 stood personal guarantee for the said loan facilities. Defendants 2 and 3 also jointly pledged their MIP 97 (II) Unit Certificate No.300971760032041 representing 50,600 units. The first defendant executed a pronote dated 09/05/2002 f