High Court of Karnataka Allows Appeal in Part in Recovery Suit — Suit Against Guarantors Barred by Limitation. The court held that the cause of action against guarantors arose on the date of the loan agreement, not the promissory note, and the suit filed after three years was barred under Article 55 of the Limitation Act, 1963....
The appeal was filed by defendant Nos.3 to 6 (guarantors) against the judgment and decree dated 13.12.2010 passed by the I-Additional Senior Civil Judge, Mangalore, in O.S.No.88/2001, decreeing the su...
