R.L.ANAND
Mohinder Singh (since deceased), through his L. Rs. – Appellant
Versus
Bank of India – Respondent
R.L. Anand, J. - This R.S.A. has been directed against the judgment and decree dated 3.8.1999 passed by the Addl. District Judge, Ferozepur, who, while dismissing the application under Section 5 of the Limitation Act of the appellant, also dismissed the appeal.
2. Some facts can be noticed in the following manner :-
Bank of India (plaintiff) advanced a term loan to the extent of Rs. 67,760/- to Mohinder Singh deceased on the guarantee of Mohan Singh, defendant No. 2. This loan was repayable to the bank in 14 half yearly instalments of Rs. 4,840/- each with effect from July, 1996. The defendants also agreed to pay interest at the rate of 2-1/2 (12-1/2 ?)per cent per annum with half yearly rests subject the variation. The loan was granted for the purchase of tractor. Defendant No. 1 mortgaged his land measuring 82 kanals 16 marlas with the plaintiff-bank as collateral security. Defendant No. 2 stood guarantor and executed guarantee deed for the due repayment of the said loan. The defendants also executed agreement for term loan and other necessary documents in favour of the bank. Tractor bearing registration No. PAD-5434 was purchased. However, the defendants did not pay the
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