NARASINGH S/O LATE LAXMAN SINGH AND SMT. SHARADA BAI W/O NARASINGH Vs. APPLE CREDIT CORPORATION LTD., REPRESENTED BY ITS ASSISTANT VICE PRESIDENT MR. M. GOPINATH

JUDGEMENT

(1.) THOUGH this matter was treated as part heard, none -appears for the Respondent. Therefore, the matter is taken up for final disposal.

(2.) THIS is a Defendant's appeal against the judgment and decree in OS 15667/99 dated 5.1.2005 on the file of the XXVI Addl. City Civil Judge, Bangalore.

(3.) THE suit is one for recovery of a sum of Rs. 77,344/ - together with interest @ 36% P.A. The case of the Plaintiff is that 1st Defendant entered into an hire purchase agreement on 3.7.1997 to purchase a Maruti 800 car bearing Registration No. KA -18 -M -2972 corrected as No. KA -04 -N -6820 and same was delivered to the Defendant. Defendant was required to pay monthly installments OH hire purchase @ Rs. 7239/ - for a period of 36 months. He had also executed a demand promissory note in favour of the Plaintiff interalia agreeing to pay Rs. 2,60,604/ -, Since the Defendant committed default, Plaintiff issued a notice dated 11.7.1998. As the amount was not paid in terms of the hire purchase agreement, Plaintiff took possession of the vehicle and sold the same to third party on 3.6.1999 for a sum of Rs. 1,40,000/ - and the sale amount was adjusted to the amount due from the Defendant. Calculating the amount, Plaintiff alleges that Defendant is still due in a sum of Rs. 73,344/ - and prays for decree for recover of money with interest @ 36%.