- (1.) Special leave granted.
(2.) The unsuccessful challenge of the appellant before the High Court was to the proposal of respondent No. 1 to the attachment of House No. 191A, Saket, Meerut belonging to him for the realisation of the amounts due to respondent No. 1.
(3.) Briefly stated the facts are that the appellants son Rajiv Jain entered into a hire-purchase agreement with respondent No. 1 whereby the said respondent financed a business venture of his proprietorship concern M/s. S. R. S. Sunfix Company. At the time of signing of the hire-purchase agreement, the appellant herein stood as guarantor as per the deed of guarantee dated 7th June, 1983. The appellants son then incorporated a private limited company called Shiraj Sunfix Company Private Limited and the said company took over the business of the proprietorship concern. The terms of the original agreement did not permit such a change without the consent of respondent No. 1. The consent to the new entity taking over the business of the proprietorship concern was given by respondent No. 1 and a new agreement was entered into. By virtue of this agreement, the private limited company became the hirer and Rajiv Jain and Ajit Prasad Jain became the first and the second surety respectively. These two persons stood as guarantors under this agreement and they undertook due performance of this agreement and to pay the instalments of hire and insurance etc.;