RAVINDRA Vs. T PARAMESHWARA HEGDE

JUDGEMENT

(1.) The appellant herein was the plaintiff before the Principal Civil Judge (Jr.Dn.) & J.M.F.C., Sagar, (henceforth for brevity referred to as the 'Trial Court' for short), who had instituted a suit in O.S.No.34/2007 against the present respondent for recovery of money.

(2.) The summary of the case of the plaintiff in the Trial Court is that the defendant had borrowed a sum of Rs.25,000/- from him on 6.11.2004 and had executed a On-demand Promissory Note agreeing to repay the said loan amount along with interest thereupon @ 18% per annum. Despite the demand, the defendant did not repay the loan amount, which made him to issue a legal notice to him on 19.2005. The defendant neither responded to the legal notice nor repaid the loan amount. Hence, the plaintiff was constrained to file suit for recovery of a sum of Rs.25,000/- with accrued interest thereon.

(3.) The defendant contested the matter by filing his written statement wherein he denied the entire plaint averment with respect to the alleged loan transaction except admitting that the plaintiff was a person known to him. The defendant has categorically and specifically denied the alleged loan transaction much less the one dated 6.11.2004 for a sum of Rs.25,000/-.