ASHOK KUMAR TIWARI, J.

( 1 ) THIS appeal has been filed under Section 96 of the code of Civil Procedure against the decree of 10th Additional District Judge, Indore granted in Original Civil Suit No. 85-B/88 vide which the suit filed by the appellant/ plaintiff under Order 37 of Code of Civil Procedure has been dismissed.

( 2 ) PLAINTIFFS case is that Defendant No. 1 Dena Bank, Indore executed bank guarantee for Rs. 4,50,725/- on 31-5-1978 in favour of plaintiff in lieu of cash deposit required from M/s. Surana Commercial Company, indore (hereinafter referred to as 'contractor' ). Thereafter, the bank guarantee was renewed from time to time. The contractor defaulted in due performance of the contract, therefore, the defendants were asked to release the guarantee amount, but the defendants wilfully and illegally avoided the payment in respect of the aforesaid bank guarantee. Hence, the suit was filed to recover the amount of Rs. 4,50,725/- being the amount of the guarantee and Rs. 2,50,152. 37p/- being the interest at the rate of 18% on the aforesaid amount from 27-10-1978 to 27-11-1981 and Rs. 100/- as notice fees and expenses.

( 3 ) DEFENDANT entered into appearance and applied fo

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