E. VIVEKRAJ Vs. KSHEMA FINANCE CORPORATION

JUDGEMENT

(1.) The present review petition is filed against the judgment and decree dated 31.03.2016 made in RFA No.198/2016

(2.) The respondent herein filed suit in O.S.No. 7143/2005 against the review petitioners for recovery of Rs.10,30,878/- with future interest at the rate of 6% per annum on the principal amount from the date of the suit till realization, raising various contentions. The same was disputed by the defendants/present review petitioners and denied the plaint averments in toto and contended that the suit was not maintainable.

(3.) The Trial Court, considering the entire material on record, recorded a finding that the plaintiff has proved advancement of loan of Rs.6 lakhs to the defendants, execution of on demand pro-note by the defendants on 27.12.2001 and defendants failed to repay the said loan amount and decreed the suit. Aggrieved by the said judgment and decree, review petitioners filed RFA No.198/2016 before this Court which came to be dismissed by the judgment and decree dated 31st March 2016, holding that the transaction between the plaintiff and defendants is not in dispute, the defendants have executed on demand pro note and have signed Form No.6 and have not repaid the loan amount. It was held that Ex.P.1/cash receipt is not denied by the defendants and there is no specific pleading in the written statement; Ex.P.4 is the acknowledge of debt dated 19.09.2002 in which defendants 1 to 3 have acknowledged the debt; Ex.P.5 is the letter written by the defendant No.1 to the plaintiff on 10.08.2003 requesting to reduce the rate of interest and also note that he has executed the undertaking letter signed by him and his parents. The undertaking letter dated 10.08.2003 for paying the penal interest is marked as Ex.P.10. D.W.1 admitted his signatures on the said document. Ex.P.11 is the commitment letter executed by the defendants in favour of plaintiff on 23.11.2003. Ex.P.12 is the certified copy of the cheque for a sum of Rs.8,51,500/- issued by defendant No.1 in favour of the plaintiff which was dishonoured as per Ex.P.13 and plaintiff has initiated criminal action as contemplated under Section 138 of the Negotiable Instruments Act. All these documents came into existence at an undisputed point of time which clearly establish that the suit of the plaintiff is well within time and defendants have borrowed a loan of Rs.6 lakhs from the plaintiff. This Court, further recorded a finding that the defendants have not denied the transaction, receipt of loan as per Ex.D.1 and writing of letter requesting the plaintiff to reduce the rate of interest and accordingly dismissed the appeal. Hence the present review petition is filed.