Anil Kumar Choudhary, J. - (1.) Heard the parties.
(2.) The defendants-appellants have preferred this First Appeal being aggrieved by the judgment and decree dated 30.11.2000 passed by the learned Sub Judge IX, Ranchi in Mortgage Title Suit No.84 of 1994 / 22 of 2000 by which the learned court below decreed the suit on contest against all the three defendants with cost and the defendants were directed to pay the decreetal amount along with compound interest and costs of the suit within two months from the date of that order failing which the plaintiff bank shall be entitled to the recovery of the said amount from the defendants either jointly or severally in accordance with law by applying for a final decree as per law.
(3.) The case of the plaintiff in brief is that the deceased borrower namely Gopal Jaiswal applied for a loan from the plaintiff-bank for purchase of a truck in his name. The plaintiff bank sanctioned a term loan facility for a sum of Rs.2,35,000/- to Gopal Jaiswal and thereafter Gopal Jaiswal executed necessary documents in favour of the plaintiff bank and withdrew the loan amount and purchased a truck. The said truck thus purchased, was registered with the D.T.O., Ranchi bearing registration No. BIN 9972 and there was endorsement that the vehicle was financed by plaintiff-bank. The defendant Nos.1, and 2 stood as guarantors for the said loan and also executed documents in favour of the plaintiff for securing the loan. The original loanee Gopal Jaiswal died on 09.04.1993 and the defendant Nos.1, 2 and 3 being the only survivors of the deceased namely Gopal Jaiswal, inherited all the properties and the estate of Gopal Jaiswal. All the defendants were also in joint possession of the said truck purchased by Gopal Jaiswal. Gopal Jaiswal defaulted in making payment to the bank as promised and after being made repeated requests Gopal Jaiswal made some deposits but did not regularize the account completely but after the death of Gopal Jaiswal no repayment was made in respect of said loan. Gopal Jaiswal also deposited the receipts of collateral security for the loan and also acknowledged the loan. It is also the case of the plaintiff-bank that the truck so purchased by Gopal Jaiswal using the loan amount, had been sent away from Ranchi by defendants for avoiding seizure thereof. Further the case of the plaintiff is that in spite of repeated requests, the defendants did not liquidate the loan and as such the plaintiff called back the amount outstanding and intimated the defendants through its lawyer by sending notice dated 26.11.1993 asking the defendants to pay its entire dues within a month. But even after the notice, the defendants failed to liquidate the loan which necessitated in filing of this suit claiming that the defendants are jointly and severally liable to pay the said dues being the successors in interest of original borrower Gopal Jaiswal as well as defendant Nos.1 and 2 were additionally liable being the guarantors for the loan. The last deposit made by Gopal Jaiswal in the loan account was on 23.03.1993 and the outstanding balance in the loan amount as on 23.05.1994 was Rs.2,58,369.25/-. The suit was initially decreed ex parte on 20.07.1996 but subsequently the ex parte order was set aside on 24.11.1998 and the defendants filed their written statement.;