JUDGMENT

This appeal arises out of the judgment and decree rendered by the Sub Court, Pala, in A.S. No.29 of 2021, by which the judgment and decree passed by the Munsiff Court, Kanjirappally, in O.S. No.252 of 2017 was partly modified.

2. The appellant herein is the defendant in the aforesaid suit for recovery of money instituted by the legal heirs of a surety. The appellant, as a principal borrower, availed a loan of Rs.5,00,000/- (Rupees Five Lakhs only) from the Kottayam District Co-operative Bank, Pathanad Branch, with one Varghese, his brother, as guarantor and by offering an extent of 95.96 Ares of property of Varghese as collateral security. On 14.02.2012, Varghese expired, and his rights over the property were devolved upon his legal representatives. On 31.07.2016, an amount of Rs.5,78,147/- (Rupees Five Lakh Seventy Eight Thousand One Hundred and Forty Seven only) was due under the loan account, and the bank initiated measures under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act). At that point of time, the legal heirs of the surety, the plaintiffs, went ahead and discharged the loan by remitting a su