U.C.MAHESHWARI
BANK OF INDIA – Appellant
Versus
S. K. MUKHERJEE – Respondent
( 2 ) FACTS giving rise to this appeal are that the appellant plaintiff being a nationalized bank having a branch at Civil Lines, jabalpur, respondent No. 1 Government contractor had a current account in the aforesaid branch of the appellant. He requested appellant to provide overdraft facility. The same was considered and sanctioned up to the limit of Rs. 10,000. 00 on prevailing terms and conditions in respect of such facility. In continuance of this transaction the respondent had executed a demand promissory note for the some of Rs. 10,000. 00 with a promise to pay on demand along with interest @ 17%p. a. at quarterly rests. In this regard an agreement in respect of continuous security was also executed in support of the aforesaid promissory note by mentioning that the said documents would remain as continuous security and same be enforced in relation to the
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