S.C.MOHAPATRA
GOPAL CHANDRA BAGARIA – Appellant
Versus
STATE BANK OF INDIA – Respondent
S. C. MOHAPATRA, J.
( 1 ) DEFENDANT No. 2 is appellant against a decree making him jointly and severally liable for the amount decreed.
( 2 ) PLAINTIFF is a Bank constituted under the State Bank of India Act having a branch at industrial estate, Rourkela. On 17-12-1982 plaintiff sanctioned a sum of Rs. 1,10,000/-by way of cash credit Mandi facility and Rs. 79,000/- by way of cash credit bill facility to defendant No. 1. Defendant No. 2 stood guarantee for the amounts to be advanced and both defendants Nos. 1 and 2 executed required documents. Defendant No. 1 secured the loan facility by pledging of goods, both raw materials i. e. different chemicals, finished goods and merchandise. When relationship so continued, defendant No. 1 defaulted in making payments. Notice to him by plaintiff remained unreplied. Hence, suit has been filed for recovery of the amount due including interest at the rate of 14 per cent per annum for a sum of Rs. 91,762. 37 with pendente lite and future interest. 2a. Defendant No. l did not contest. Case of defendant No. 2 is that he only signed blank form since defendant No. 1 was his close friend who brought those forms. He denied to have executed any promiss
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