MS ANIRUDHAN VS. THE THOMCO’S BANK LTD

Authors

  • Madhumitha Kesavan 2nd Year BBA LLB Student, Christ University, Bengaluru Author

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Abstract

An appeal that has arisen out of a suit was filed by the Thomco's Bank Ltd., Trivandrum, (Bank ) against V. Sankaran (the principal Debtor) and N. S. Anirudhan (the surety and appellant). The suit was based against V. Sankaran on a promissory note executed by him in favour of the Bank on February 24, 1947, and against the present appellant on a letter of guarantee dated May 24, 1947.

 

A  blank  form  of guarantee was given by the Bank to Mr.Sankaran, who then had it filled up  by the appellant stating the maximum  amount  which  he guaranteed to for was Rs. 25,000/-.  When Mr.Sankaran brought the letter of guarantee which was duly signed by the appellant and himself to the Bank the latter i.e the Bank refused to accept the guarantee up to that limit. The Bank was not prepared to give or were unwilling to give Mr.Sankaran accommodation for a Larger sum than Rs. 20,000/- and wanted it to be limited to the extent of Rs. 20,000/- only.  Mr.Sankaran then made alterations in the letter with the amount of the maximum limit corrected it from Rs. 25,000/- to Rs. 20,000/- and gave it to the Bank. In a suit instituted by  the Bank  against the principal debtor, Mr.Sankaran, and the appellant  on the basis  of  the contract of guarantee for  Rs.  20,000/-, for recovering the dues, the said appellant pleaded that as the document was altered without his knowledge or consent, he  was said to be discharged  from his liability.

Published

14-04-2018

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How to Cite

Madhumitha Kesavan. “MS ANIRUDHAN VS. THE THOMCO’S BANK LTD”. Journal of Legal Studies & Research, vol. 4, no. 2, Apr. 2018, pp. 102-7, https://journal.thelawbrigade.com/jlsr/article/view/2118.