JD and Guarantor have been jointly and severally held liable to pay the amount - liability of a surety is co-extensive with that of the Principal debtor
Citation
CDJ 2013 MHC 2393
Sivakumar and others vs Shriram chits Tamilnadu (p) Ltd and others
Comparative Citation
2013(5) MLJ 120
Head Note
Ramadas Rao vs. J.P.Builders reported in 2010(3)CTC 1 a Division Bench of this Court held that the liability of a surety is co-extensive with that of the Principal debtor, unless the contrary is provided in the contract.
11. Perusal of the decree in ARC.No.1248 of 2010, dated 30.03.2011, clearly shows that in the decree passed, all the respondents to the proceedings, have been jointly and severally held liable to pay the amount and that therefore, even taking it for granted that the revision petitioners have not received any money from Shriram Chits T.Nadu (P) Ltd., as guarantors, they are liable to pay the amount, particularly, when they have also agreed to repay the amount with interest and executed a promissory note, dated 12.09.2009. There is absolutely no manifest illegality in the order, warranting interference from this court. Hence, this Civil Revision Petition is dismissed.
11. Perusal of the decree in ARC.No.1248 of 2010, dated 30.03.2011, clearly shows that in the decree passed, all the respondents to the proceedings, have been jointly and severally held liable to pay the amount and that therefore, even taking it for granted that the revision petitioners have not received any money from Shriram Chits T.Nadu (P) Ltd., as guarantors, they are liable to pay the amount, particularly, when they have also agreed to repay the amount with interest and executed a promissory note, dated 12.09.2009. There is absolutely no manifest illegality in the order, warranting interference from this court. Hence, this Civil Revision Petition is dismissed.
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