1Defendant No. 1, the State Bank of India, Taliparamba Branch, in O.S. No.34 of 1983 on the file of the Sub Court, Tellicherry is the appellant. The suit was filed by the first respondent in this appeal the Kerala State Cooperative Marketing Federation, Cochin for recovery of a sum of Rs. 1,08,000/- with future interest at 12% per annum on the principal amount of Rs. One lakh till the date of payment from the appellant Bank and respondent No.2 the Cannanore District Cooperative Central Bank Limited, Taliparamba.

2The plaintiff's case, briefly stated, is as follows:
The plaintiff had dealings with the third defendant a Service Cooperative Bank, Taliparamba. A cheque Ext. X1 (No.139708) for an amount of rupees one lakh was issued by the third respondent in favour of the plaintiff. It was sent by post on 20-12-1982 along with some other cheques. But, later it was found that the cheque drawn in the name of the plaintiff was altered by one Sri. K. Narayanan by making it appear that it was drawn in his name. Sri. K. Narayanan, after opening a bank account with the first defendant on 27-12-1982 presented the cheque on 29-12-1982 for collection of the same from the second respondent. Thereaf

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