SYNDICATE BANK vs CHANNAVEERAPPA BELERI

The Supreme Court upheld the dismissal of the Bank's suit for recovery of dues against the guarantors on the grounds of limitation, as per Article 137 of the Limitation Act, 1963. The Court established that the cause of action arose when the Bank sent a demand notice on 12.10.1987, and the suit filed in 1990 was beyond the prescribed limitation period. The Court affirmed the High Court's decision, emphasizing the importance of adhering to statutory limitation periods in recovery suits.