9911796707
TMI Blog2002 (2) TMI 1269X X X X Extracts X X X X X X X X Extracts X X X X ..... facility. 2. The case of the plaintiff in brief is as under : The plaintiff is a body corporate constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 ( the Act ), having its Head Office at 762, Anna Salai, Madras and branch office at F-47, Malhotra Building, Janpath, New Delhi. Defendant No. 1 is a company registered under the Companies Act, 1956, carr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent of Rs. 6 lakhs as security for bills purchase limit of Rs. 3.5 lakhs and bridge loan of Rs. 2.5 lakhs. Vide letter dated 8-8-1977, Managing Director of defendant No. 6 wrote to the plaintiff bank that at the request of defendant No. 1, defendant No. 6 confirms that it shall make payment to the plaintiff bank found due to defendant No. 1. The plaintiff had also informed the Uttar Pradesh Fina ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 07 in the bridge loan account together with interest due thereon within 14 days from the date of receipt of the said notice. The said notices were duly served on the defendants. The defendants by way of reply to the plaintiff s notice never disputed any of the liabilities. Hence, this suit. 5. As nobody was appearing on behalf of the defendants for the last two/three dates of hearing, defendan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ant Nos. 2 to 5 dated 13-8-1979, 10-1-1980 and 9-12-1982; ( vii ) Exhibits PW 1/9 to 1/13 are the telegraphic notices dated 26-3-1984 issued to defendant Nos. 1 to 5 respectively; ( viii ) Exhibits PW 1/14 and 1/15 are the telegraphic notices dated 1-4-1984 and 2-4-1984 to defendant No. 6; ( ix ) Exhibit PW 1/16 is the legal notice dated 14-5-1979 to defendant Nos. 1 to 3; ( x ) Exhibit PW 1/17 is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... efendant No. 6 in favour of defendant No. 1 to advance the loan. The legal liability of a person arises only if a proper document is executed as was done in the case of defendant Nos. 2 to 5. Defendant Nos. 2 to 5 executed deed of guarantees. Letter sent by defendant No. 6 was a general assurance that defendant No. 6 takes the guarantee of making payment against the outstanding amount. This is a g ..... X X X X Extracts X X X X X X X X Extracts X X X X
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