Execution Proceedings-

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  Execution Proceedings (Ss.47, 60, 122 Or.21 Rs.11, 98 & Or.11 R.14):- Executive Proceedings-Executing court must dispose of executive proceedings within six months from date of filing which may be extended only by recording reasons in writing for such delay. This would mean that every effort should be made to dispose of execution petition within said time-limit and executing court should have reasons for not being able to dispose of execution petition. Executing court is duty-bound to record reasons in writing when it is unable to dispose of matter within six months (Bhoj Raj Garg vs Goyal Education & Welfare Society: (2025) 9 SCC-618.
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Guarantor has the liability to pay the loan amount taken by the principal debotor:-

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Guarantor has the liability to pay the loan amount taken by the principal debotor:- Recovery of debt from guarantor-Held, guarantee being a continuing guarantee,so long as the principal debt remained due and payable,the guarantor also remained liable-The suit was therefore not barred by limitation-However,liability of guarantor cannot exceed that of the principal debtor,even thought he guarantee documents mentioned so,since guarantor is only guaranteeing debt due by the principal debtor-Principal debtor being liable to pay interest 13.5% in respect of term loan facility  and 14% p.a. in respect of cash credit facility (B.G.Vasantha vs Corporation Bank<amangalore & anr,(2005) 10 SCC-215.       

                   Liability of guarantor is co-extensive with that of principal debtor unless it is explicitly exluded by the contract-Further held,it is the prerogative of creditor along whether he would move against principal debtor first or surety to realise loan amount-Respondent guarantor cannot evade liability on ground that she was not party to settlement entered between principal debtor and Bank by which an award of Lok Adalat was obtained,when guarantee clause clearly stipulates that any judgment or award obtained against principal debtor shall be binding on guarantor (CBI vs C.L.Vimla & ors ,(2015) 7 SCC-337.

                   (2014) 1 SCC-625-(KSK & V Iboard Vs PNB & ors)

                   (2010) 8 SCC-110-(UBI vs Satyawati Tondon & ors)

                   (2021) 8 SCC-481-(Laxmi Pat Surana Vs UBI & anr)

                   (2012) 11 SCC-511-(Ram Kishun & ors vs State of UP & ors)

                   (2014) 10 SCC-799-(Sobaran Singh vs State of UP & ors)   

 

 

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