Harihar P.Chaturvedi, - (1.)THIS application is filed against the defendants for recovery of a sum of Rs. 16,67,678/- together with interest @ 22.75% p. a. with quarterly rests from the date of application till the date of realisation. The applicant Bank has also prayed for cost of the proceedings and for other reliefs in order to render justice.
(2.)Brief facts raising to this OA are that the applicant is a Nationalised Commercial Bank having been incorporated and constituted under the Banking Companies Acquisition and Transfer of Undertakings Act V of 1970 having its Head Office at Chandramukhi, Nariman Point, Bombay-21 inter alia having a branch at Mount Road, Chennai-2 which is represented by its Chief Manager.
It is the case of the applicant Bank that the first defendant is a Partnership Firm being an Small Scale Industries Unit represented by its Partners i.e. the defendants 1 to 3 and is engaged in manufacture of Fibre/Glass Sanitaryware/Storage tanks, Pipes, Fibre Glass reinforced, Plastic manufacture and sanitaryware.

(3.)IT is submitted by the applicant Bank that, at the request of defendants 1 to 3, and on the guarantee of the 4th defendant, the applicant Bank granted Cash Credit Open Loan of Rs. 75.000/-to the defendants on 15.6.1985. After availing the same, the defendants 1 to3 executed the following necessary documents.
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