Bank Claims Former Directors' Guarantee Bonds Still Valid Despite New Personal Guarantees and Property Mortgage by New Directors.

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Full Text of the Document

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....Mortgage of property - execution of guarantee deeds of the retired director - There is no occasion for the Bank to plead that although the new directors and surety executed the personal guarantee bonds dated 22nd July, 1995 and an immovable property worth much more than the value of loan/limits was given in mortgage, still earlier personal guarantee bonds executed by two erstwhile Directors and Petitioner No.2 are still in force....