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4. During the year 1967, the business of the 1st defendant in the bank decreased and the turnover, in the various accounts registered a steep decline. Taking note of this, the bank pressed the first defendant for immediate payment of all amounts due under all their accounts, and that in default legal proceedings will be initiate against them for recovery of the same. Thereupon, the 4th defendant as managing directors of the 6th diffident-company whose major portion of tea were being sold by 1st defendant came forward and undertook that the 6th defendent-company would give the plaintiff a second mortgage of the company's fixed assets. In pursuance of the said agreement, the 6th defendant in consideration of the bank granting further time to the 1st defendant and forbearing to sue, executed in favour of the bank a second mortgage dated February 9, 1968, in respect of its tea factory as security for the payment of the amount due to by the 1st defendant in their various accounts to the extent of one lakh of rupees together with interest on the said sum of 10 per cent, per annum. Under the said mortgage deed the time for payment of the principle was 9th February 1970, and the interest was payable regularly in quarterly intervals commencing from 1st April, 1968, and in case of default in payment of the said interest regularly, the entire principle and interest would become payable forthwith. The amount due under the said mortgage on the date of suit is a sum of Rs. 1,32,397.52. In consideration of the bank agreeing to give further time and for forbearing to sue defendants Nos. 1 to 3 for recovery of the amounts due from them on all these accounts, at the instance of the 1st defendant, the 5th defendant executed a letter of guarantee dated December 16, 1967, guaranteeing the due payment by the 1st defendant of all monies due and payable to the bank on all their account to the extent of two lakhs of rupees and all costs and charges and expenses mentioned in the guarantee. The 5th defendant also undertook to execute and register a mortgage in respect of an extent of land measuring 1.52 acres out of 1.59 acres of his land in S. Nos. 408/B and 408/2 in Hubbathalai village including in tea factory, and in pursuance of the above undertaking he delivered the title deeds of the above property to the bank and undertook to execute and register a mortgage deed within on month from the date thereof in respect of the above properties as security for due payment of all the amount due by first defendant to the bank. The 5th defendant, however, failed to execute and register a mortgaged deed within one months as undertaken in the agreement dated December 16, 1967, and in spite of repeated demands, the 5th defendant had not executed the document and, therefore, the plaintiff is entitled to seek as specific performance of the said agreement as against the 5th defendant. Since defendants Nos. 1 to 6 have failed to perform their obligations as undertaken by them under the promissory notes and guarantee bond executed by them, the bank was constrained to file the suit for the reliefs set out above as against the various defendants.