IN THE HIGH COURT OF CHHATTISGARH
Prashant Kumar Mishra, J
State Bank of India v. Nanhee Ram Dayaram and Others
| Table of Content |
|---|
| 1. court's ruling regarding limitation issues. (Para 1 , 2 , 3) |
| 2. dispute over applicable articles of the limitation act. (Para 4 , 5) |
| 3. court's analysis of the legal framework. (Para 6 , 7 , 8 , 10) |
| 4. cited precedent related to mortgages and limitations. (Para 9) |
| 5. final ruling of the court on the recovery suit. (Para 11 , 12 , 13 , 14) |
1. By the impugned judgment and decree the trial Court has dismissed the appellant's suit for recovery of the loan amount by holding that the suit is barred by limitation, even though it has found the other issues proved in favour of the plaintiff / appellant.
2. The respondent Nos.1 to 3, hereafter referred to as 'the borrower' obtained loan of Rs.71,000/- for purchase of tractor trolley and executed agreement dated 30-10-1984. The respondent Nos.4 & 5, hereinafter referred to as 'the guarantor' stood guarantee to the said loan transaction. The borrowers have also executed the deed of mortgage securing the repayment of loan in favour of the Bank. As per the plaintiff bank, the repayment of the loan amount began from 13-5-1985 and the borrower made payment of installment till 12-1-1987, however, thereafter, no payment was made by the
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