H. A. KIRITI Vs. K. RAVICHANDER

JUDGEMENT

(1.) This appeal under Sec. 96 of CPC is filed by the defendant challenging the judgment and decree dtd. 26/8/2007 passed by the XXXIII Addl. City Civil and Sessions Judge, Bangalore City (CCH-33) in O.S.No.5616/2003 whereby the suit filed by the plaintiff has been decreed for a sum of Rs.62,500.00 with interest at 6% per annum.

(2.) For the sake of convenience, the parties are referred to as per their ranking before the Trial Court.

(3.) The case of the plaintiff is that he and defendant became good friends in the course of their business transaction. Accordingly, in the month of June 2001, the defendant approached the plaintiff for financial assistance of Rs.62,500.00 and agreed to repay the same within a period of six months. Accordingly, the plaintiff paid cash of Rs.62,500.00 to the defendant on 10/6/2001 in the presence of one S. Bheemasena Rao. The defendant did not repay the amount even after 10/12/2001. After repeated demands of the plaintiff, the defendant has issued a cheque dtd. 15/12/2001 for a sum of Rs.62,500.00 drawn on SBM, Haralahalli Branch, Hassan in the name of Surya Biofuel for which the plaintiff is the proprietor and when the plaintiff presented the same in his Bank at Bengaluru, it was dishonoured and returned on 26/12/2001 stating that the defendant has stopped the payment. Since the defendant has not repaid the amount, the plaintiff has issued notice on 30/3/2003 and thereafter, he has field the suit for recovery of money.