Drat Allahabad Court June 2005 Judgments

Bank of Baroda Vs. Mahfooz Ahmad and ors.

Court: DRAT Allahabad

Reported in: II(2006)BC46

1. Both the appeals have been heard analogous as the appellant/applicant is the same in both the appeals and although the respondents/defendants were different but the nature of both the cases is the same and similar. The points involved in both the appeals are also almost same and similar.The facts of the cases are simple and as such being reiterated in nutshell as follows: The appellant/applicant had sanctioned a sum of Rs. 19 lacs together with interest @ 18% per annum with quarterly rest to respondent-defendant No. 1, of which respondent-defendant No. 2 is the proprietor. The finance was sanctioned and disbursed for the licence of liquor shop. The defendant/respondent Nos. 3 to 8 stood as guarantors to defendant Nos. 1 and 2 and defendant/respondent Nos. 1, 4 and 6 had also deposited their original deed of title by way of security as equitable mortgage for the loan sanctioned and advanced. The banking documents as per banking rules were executed by the defendants-respondents in th...