State Bank of Saurashtra vs. Chitranjan Rangnath Raja and Anr. Citation(s): 1980 AIR 1528, 1980 SCR (3) 915 Full Text here Facts: The appellant-bank allowed a cash credit facility limited to Rs. 75,000/- to the Principal Debtor (PD) on his pledging 5,000 tins of groundnut oil under the lock and key of the Bank and on…
Charan Singh vs Security Finance (P) Ltd. Citation(s): AIR 1988 Delhi 130 Full Text here Facts: The creditor after obtaining the money decree against the two principal debtors (PDs) and the Surety, holding them liable severally as well as jointly, decided to pursue his cause of action against the Surety, after he arrived at an agreement…
Aziz Ahmad vs. Sher Ali and Others Citation: AIR 1956 All 8 Full Text here Issue: Whether a surety is discharged when the creditor allows the execution of his decree against the ‘principal debtor to be barred by limitation. Position in England: In England, a failure to sue the principal debtor until recovery is barred by…