Law:

Section:

(a) Banking Companies (Recovery of Loans, Advances, Credits and Finances) Act (XV of 1997)---------S.21---Limitation Act (IX of 1908), S.5---Appeal--¬Limitation---Condonation of delay---Suit file was kept by the Presiding Officer of the Banking Court in his Chambers for more than eight months and thereafter, without any notice of any date of hearing in the suit or intimating the parties concerned about pronouncement of , same was announced after eight months---In circumstances which were borne out from the record duly supported by the assertion of the appellant in his supporting affidavit and the rejoinder thereto, appellant had succeeded to make out his case for condonation of delay in filing appeal---No party shall be made to suffer due to the act or omission of the Court in the performance of its duties. (b) Act of Court--- ---- No party shall be made to suffer due to the act or omission of the Court in the performance of its duties. (c) Banking Companies (Recovery of Loans, Advances, Credits and Finances) Act (XV of 1997)---- ----Ss.15, 18 & 21---Suit was decreed against the defendants including the appellant---Appellant was neither the guarantor nor he had executed any document in his personal capacity, to share the liability of the company¬ Letters of hypothecation and letter of memorandum of deposit of title deeds were signed by the Directors of the company including the appellant---Such documents, indeed had been signed by the appellant but in his capacity as Director of the, Company, therefore, on the basis of said two documents the liability of the company could not be shifted to appellant in his personal capacity---Liability of the company could not ipso facto fall upon its Directors, who had no personal liability upon execution of documents on behalf of the company unless they had stood guarantors or executed other documents undertaking such liability as their personal liability in any capacity---Judgment and decree, to the extent it created any liability against the appellant, was set aside by the High Court---Rights created in favour of the decree-holder Bank on the basis of letter of hypothecation and memorandum of deposit of title deeds…

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