SHERMAN — A California bank is suing a borrower and guarantors, alleging breach of a promissory note and guaranty agreements in owing more than $200,000.
Pacific Premier Bank filed a complaint March 23 in the Sherman Division of the Eastern District of Texas against Tejraj LLC, Tejash Patel and Raju Desai, alleging failure to fulfill their contractual obligations.
According to the complaint, on May 5, 2015, Tejraj executed a business loan agreement and borrowed $226,700 from Pacific Premier. Subsequently, the loan was guaranteed by defendants Patel and Desai, the suit says.
As of Feb. 21, the unpaid principal and interest totals $218,706.43, the lawsuit states and despite demand for payments, the defendants have failed to make any payment for the amount.
Pacific Premier Bank seek trial by jury, payments for all amounts due, plus interest, attorney fees, costs of court and all other relief. It is represented by attorneys Robert P. Latham and Justin V. Lee of Jackson Walker LLP in Dallas.
Sherman Division of the Eastern District of Texas Case number 4:17-cv-00200