https://www.taxtmi.com/caselaws?id=456210 The HC dismissed the appeal, affirming the lower court's decision that the surety's liability is co-extensive with the judgment debtor's, as per Section 128 of the Indian Contract Act. The court held that statutory reductions in the debtor's liability under the Kerala Act 91 of 1958 proportionally reduce the surety's liability, thus entitling the surety to the same relief benefits as the debtor. The surety's obligation, as stated in the bond, was not found to exclude this statutory provision, ensuring that the benefits of debt relief acts are extended to sureties. en-us Tue, 14 Sep 1965 00:00:00 +0530 Sat, 06 Jul 2024 12:29:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456210 The HC dismissed the appeal, affirming the lower court's decision that the surety's liability is co-extensive with the judgment debtor's, as per Section 128 of the Indian Contract Act. The court held that statutory reductions in the debtor's liability under the Kerala Act 91 of 1958 proportionally reduce the surety's liability, thus entitling the surety to the same relief benefits as the debtor. The surety's obligation, as stated in the bond, was not found to exclude this statutory provision, ensuring that the benefits of debt relief acts are extended to sureties. Case-Laws Indian Laws Tue, 14 Sep 1965 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456210