National Bank of Canada sued Rajendra Pahuja and Shanta Pahuja to enforce personal guarantees for a loan made to Centrestone Granite and Marble Inc., which defaulted.
Rajendra Pahuja admitted liability under his guarantee but contested a fraud claim. Shanta Pahuja challenged the enforceability of her guarantee, alleging duress and non est factum.
Summary judgment granted in favor of the bank: $825,000 plus interest for the guarantees, and Rajendra Pahuja was found liable for fraudulent misrepresentation.
Amount Awarded:
$825,000 plus interest, with the fraud claim against Rajendra Pahuja specifically capped at this amount. Counterclaim by the Pahujas dismissed.
