A.K.Mitra, J. - (1.) Challenging the judgment and decree passed in Title Appeal No. 68/89 on 24.9.1993 and 7.10.1993 respectively by the learned 2nd Assistant District Judge, Hooghly affirming the judgment and decree dated 22.2.1989 and 10.3.1989 respectively passed in Title Suit No. 87 of 1988 (T.S. No. 184/85) by the learned Additional Munsif, Chandernagore, this second appeal has been preferred. The Title Suit concerned here is a suit for declaration and injunction. The case as has been made out by the plaintiff/appellant herein in the plaint is, inter alia, as follows:
(2.) The plaintiff Ramnath Mukherjee had his business of manufacturing spectacle frames, which was running under the name and style "Neolite Eye-line Corporation" hereinafter termed as "said business". According to the plaintiff this business had been running since 1965 and it was located in the ground floor of his residential building and the plaintiff was the sole proprietor of the business.
(3.) For the expansion and development of the said business and/or factory the plaintiff was in need of money. The defendant No. 1, West Bengal Financial Corporation announced to help and to assist the establishments of industrial concern for their development. The plaintiff approached the defendant No. 1 that is the financial corporation for loan to develop or expand small scale industry dealing with the manufacturing of spectacles frames. The business of the plaintiff was duly registered as a small scale industry unit with the Directorate of Cottage and Small Scale Industries of West Bengal. The plaintiff submitted a scheme before the defendant No. 1 which was duly accepted by the defendant and the plaintiff was asked to execute an agreement with the defendant No. 1. According to the plaintiff, he was assured by the defendant No. 1 that term loan would be granted to the plaintiff and he was asked to communicate the defendant No. 2 for the working capital for smooth running and the development and expansion of the factory and the business. The defendant No. 2 is United Bank of India, Khalisani Branch. The plaintiff performed all the formalities as directed by the defendant Nos. 1 and 2 to obtain term loan and working capital by several communications. The defendants Nos. 1 and 2 approved the scheme and proposal of the plaintiff. As per their direction the plaintiff constructed separate pucca room for the proposed expansion and the plaintiff had to expend Rs. 46,000.00. It was agreed and settled by defendant No. 1 that they would grant Term Loan of Rs. 71,300.00 out of which Rs. 15,000.00 was settled to be on account of margin for working capital. The defendant No. 1 by a letter dated 14.7.1983 sanctioned the aforesaid amount of Term Loan. The plaintiff has annexed this letter as annexure No. 1 and he has made annexure No. 2 being the Utilisation Chart. The said Utilisation Chart will show the actual amount of Term Loan, State subsidy, own stake and Bank loan to act as per the scheme and proposal.;