B.G. VASANTHA vs CORPORATION BANK, MANGALORE . — C.A. No. 6748/1999

Case Summary: B.G. Vasantha v. Corporation Bank, Mangalore Outcome: The Supreme Court dismissed the appellant's appeal on July 14, 2004, but partially modified the High Court's judgment. While upholding the bank's recovery suit against the guarantor, the Court reduced the interest rate from 15.5% p.a. (as awarded by the High Court) to 13.5% p.a. for the term loan and 14% p.a. for cash credit facilities, holding that a guarantor's liability cannot exceed that of the principal debtor. No costs were awarded. This case analysis is maintained by casestatus.in based on publicly available court records.