( 1 ) THIS appeal is filed by the guarantors challenging the decree passed in favour of bank against the borrower and guarantors. Appellants submitted that the suit filed by the bank is barred by limitation and therefore the suit deserves to be dismissed.

( 2 ) FACTS of the case are that respondent no. 1 Bank has filed a civil suit against all the defendants i. e. borrower and guarantors for recovery of Rs. 1,17,000/- and interest at the rate of 16. 5% p. a. from the quarterly rates as per the rate fixed by the Reserve bank of India. It was also prayed that the property of defendants No. 3 and 4 be auctioned and decretal amount be recovered. Loan was taken by Rishabhchand Jain S/o defendant Nos. 1 and 2 and the application for term loan and cash credit was submitted on 16-12-88. Bank has decided to grant loan to said Rishabhchand Jain on 1-1-1989. Rishabhchand Jain on 2-3-1989 was given a loan of Rs. 34,000/- for manufacture of his product and on 2-3-1989 facility of cash credit of Rs. 28,000/- (working capital)was given. Said Rishabhchand Jain utilised the facility w. e. f. 3-3-1989 and 10-3-1989. Rishabhchand Jain died on 2-11-1995. Defendants No. 1 and 2 have recei