Plaintiff State Bank of India commenced this action by notice of motion for summary judgment in lieu of complaint as a result of the execution by defendant Raman Patel and another individual of personal guarantees of payment of the indebtedness of Canaca, Inc., a New York corporation. After Canaca defaulted on its debts to plaintiff, the bank liquidated the company's inventory, reduced the outstanding balance by the amount of the proceeds obtained from the sale and sued the...
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