Supreme Court · 2012 INSC 48 · Decided 20 January 2012
M/S H.D.F.C. v. Gautam Kumar Nag & ORS.
- Court
- Supreme Court of India
- Citation
- 2012 INSC 48 · [2012] 1 S.C.R. 430
- Case number
- CIVIL APPEAL No. 137/2007
- Decided
- 20 January 2012
- Bench
- AFTAB ALAM, RANJANA PRAKASH DESAI (2-judge bench)
- Case type
- Civil
- Acts & sections cited
- CPC Section 431; Contract Act Section 139
Headnote
Contract Act, 1872: s.139 - Liability of the guarantor - Held: Is equal to and co-extensive with the borrower - C Guarantor cannot avoid his liability simply on the basis of the promissory note made out or an equitable mortgage created by the borrower in favour of the lender. According to the the owner of a plot of land was sanctioned loan for constructing a house on the plot. Defendant No.1 executed the Loan Agreement and a promissory note in favour of the appellant. In addition, defendant No.1 also created an equitable mortgage in favour of the appellant E by depositing the title
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