1. Instant Letters Patent Appeal impugns judgment and decree dated 02.06.2006 dismissing CIA No. 28/1996 titled as ''Jammu and Kashmir Bank Ltd. v. Girdhari Lal Gupta and others" whereby the judgment and decree dated 15.03.1996 passed by the learned District Judge, Udhampur dismissing the suit of the appellant was upheld.

2. Brief facts as noticed by the trial Court are that loan of Rs. 1,09,800/- under Self Employment Scheme was sanctioned by the appellant - bank in favour of respondent No.1 on the recommendation and sponsorship of respondent No.4 on behalf of respondent No.3, with respondent No. 4 guaranteeing on behalf of respondent No.3 repayment up to 25% of the loan with interest. Respondent No. 1 executed two demands Promissory Notes for Rs.82,800/- and Rs.27,000/- respectively dated 06.05.1971 besides Deed of Hypothecation where