GULATI, J. :- This is a first appeal from order against the judgment and decree of the Second Additional District Judge, Kanpur, dated 20th September, 1969.

2. The first respondent, the U. P. Financial Corporation, entered into an agreement with an industrial concern called "M/s. Raki Electronics, Kanpur" through its proprietor, Sri Ram Kishan Gupta, for the grant of a loan to the latter of a sum of Rs. 70,000 for purposes of setting up a factory for the production of radios and allied equipments. The loan was secured by taking a mortgage of the machineries and properties of the debtor as also by a collateral security in the shape of a house mortgaged by Munna Lal, the appellant. The property mortgaged by Munnalal is detailed in Schedule 'B' of Annexure I to the agreement, while the properties mortgaged by the debtor are detailed in Schedules 'A', and 'C' to the aforesaid Annexure I. The agreement evidencing the loan dated 13th December, 1961 is a composite document embodying the terms and conditions for the repayment of loan with interest and for the mortgage of the properties of the debtor as well as of Munnalal, the surety, According to the terms and conditions in the af