ABSTRACT
In 1976 Mr Singh approached his bankers for overdraft facilities of £2,000 to finance an import business he had conceived on a recent visit to India. The facility was to be secured by a second mortgage on his semi-detached house. He was a 30-year-old technician with an international drug company earning a salary of about £5,000 and proposed to inject £1,000 of savings into his business.
