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Recovery suit decreed in plaintiff’s favour, alongwith costs and interest
Recovery suit decreed in plaintiff’s favour, alongwith costs and interest
Sh Jai Prakash took a personal loan of Rs 50,000 from State Bank of Patiala, and defendant no 2 acted as a gaurantor. Jai Prakash dafualted on payments. Balance Confirmatory Acknowledgment letter was signed by Jai Praksah admitting his liability. In the suit for recovery filed by the Bank, the Civil Judge decreed the suit with costs alongwith interest at the rate 15% per annum against the defendants.-500336
1. Defendant no 1 took a personal loan of Rs 50,000 from State Bank of Patiala, and defendant no 2 acted as a gaurantor.
2. Part payments were made by defendant no 1 and thereafter he dafualted on payments.
3. Balance Confirmatory Acknowledgment letter was signed by defendant no.1, and he admitted his liability.
4. Stae Bank of Patiala filed a civil suit for recovery.
The Civil Judge held as under:
5. The suit appears to be within the limitation period.
6. There is merit in the case of the plaintiff and the suit is decreed with costs for an amount of Rs. 72,837 against the defendants alongwith interest at the rate 15% per annum from the filing of the suit till realization of the amount.
Case Reference - State Bank of Patiala Versus Sh. Jai Prakash & Anr.
IN THE COURT OF Ms. TANVI KHURANA,CIVIL JUDGE1(South)
SAKET COURTS NEW DELHI
In the matter of: C.S No.533/14
Unique Case ID No.: 02406C0238402013.
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