UNITED BANK OF INDIA vs NARESH KUMAR

The Supreme Court addressed the validity of a suit for recovery of money filed by a bank under the provisions of the Indian Contract Act, 1872. The Court held that the suit was properly instituted as the appellant bank had established the existence of a loan agreement and the liability of the guarantors. The Court affirmed the trial court's findings on certain issues while reversing others, ultimately ruling in favor of the appellant bank for recovery of the loan amount along with interest.