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SUPREME COURT OF INDIA

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CASE NO.:

Appeal (civil) 6894 of 1997

PETITIONER:

Syndicate Bank

RESPONDENT:

Channaveerappa Beleri & Ors.

DATE OF JUDGMENT: 10/04/2006

BENCH:

Arun Kumar & R V Raveendran

JUDGMENT:

J U D G M E N T

RAVEENDRAN, J.

This appeal by special leave, is by the plaintiff Bank against the

judgment dated 6.3.1997 of the High Court of Karnataka dismissing

R.F.A. No. 107 of 1993 filed by it against the judgment and decree

dated 29.10.1992 of the Civil Judge, Gadag in O.S. No. 29 of 1990,

dismissing its suit on the ground of limitation.

2. The appellant Bank filed Original Suit No. 29 of 1990 against

Respondents 1 to 7 herein for recovery of Rs.19,77,478/60 (the

liability of Respondents 2 & 3 being restricted to Rs.15,75,960 and

liability of Respondents 6 & 7 being restricted to 17,56,070.60)

together with interest @18.5% per annum compounded quarterly

from the date of suit till the date of realization. The plaint averments

in brief are as under.

2.1) The Bank had extended credit facilities by way of overdraft,

goods loan, and demand loan against supply Bills to a company

known as Gadag Forge Fits (India) Pv