Grindlays Bank Ltd. vs M. Joy Mathew And Anr. on 19 October, 1989
18. Learned counsel for the fourth defendant heavily relied on the decisions of this court in Kurian v. Alleppey C.C.M.S. Society [1974] KLT 541 and John v. Parameswaran Pillai [1979] KLT 885. In both decisions, the court held that a contract by a creditor to give time to a principal debtor discharges the surety of his obligations in view of Section 135 of the Contract Act.