DEEPAK GUPTA
UCO Bank – Appellant
Versus
Shashi Kant Joshi – Respondent
Deepak Gupta, J.—The short question which arises in this appeal is whether the suit filed by the plaintiff was within limitation or not?
2. Briefly stated the facts of the case are that the defendant No. 1, Sh. Shashi Kant Joshi who is a proprietor of defendant No. 2-M/s. Joshi Coal Company was given the facility of cash credit limit by the plaintiff Bank. This facility was extended to the defendants on their request and the limit was fixed at Rs.30,000. The father of defendants Nos. 3(a) and 3(b) who was the original defendant No.3 stood guarantee for repayment of the aforesaid amount. The facility was granted on the condition that the outstanding balance would carry interest @ 18% per annum to be charged on monthly basis. It is also proved on record that this cash credit facility was enhanced from Rs. 30,000 to Rs.70,000 and after enhancement also, the defendant No. 3 stood guarantee for repayment of the amount. Since the amount was not repaid within time, the plaintiff filed suit for the recovery of
Rs. 63,102 alongwith cost and future interest which was decreed by the learned Trial Court vide judgment and decree dated 27.5.1993.
3. Thereafter, an appeal was filed by the
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