https://www.taxtmi.com/caselaws?id=108142 The court found defendants Nos. 3 and 4 liable under the guarantee agreement despite a change in the company's management, as the agreement did not discharge them from their obligations. Regarding the pledged goods, the bank was instructed to recover the loan amount after adjusting the value of the goods. The appeal was allowed, and the suit was decreed against defendants Nos. 3 and 4, with directions for the lower court to determine the value of the pledged goods for adjustment. Each party was to bear its own costs. en-us Fri, 08 Sep 2000 00:00:00 +0530 Fri, 30 Mar 2012 12:43:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=108142 The court found defendants Nos. 3 and 4 liable under the guarantee agreement despite a change in the company's management, as the agreement did not discharge them from their obligations. Regarding the pledged goods, the bank was instructed to recover the loan amount after adjusting the value of the goods. The appeal was allowed, and the suit was decreed against defendants Nos. 3 and 4, with directions for the lower court to determine the value of the pledged goods for adjustment. Each party was to bear its own costs. Case-Laws Companies Law Fri, 08 Sep 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=108142