L SHIVANNA Vs. J V GOPAL @ GOPI

JUDGEMENT

(1.) The appellant herein had filed the original suit in O.S.No.17/2004 against the present respondent in the Court of Principal Civil Judge (Sr.Dn.) at Ramanagaram (henceforth for brevity referred to as the 'Trial Court'), seeking recovery of a sum of Rs. 99,500/- with interest thereupon at 18% per annum.

(2.) The summary of the case of the plaintiff was that the defendant had borrowed a loan of Rs. 75,000/- from him on 4.9.2002 for the purpose of discharging his debts. While promising to return the said amount within 11 months together with interest @ 2% per month, the defendant had executed an agreement, an On-demand Promissory Note and a receipt in favour of the plaintiff in that regard. The defendant had also handed over his original Life Insurance Policy Bond to the plaintiff as a security. However, the defendant failed to repay the debt, inspite of several demands made by the plaintiff. A legal notice dated 29.8.2003 was also got issued by the plaintiff to the defendant in this regard, but the same was of no avail, as such, the plaintiff was constrained to file a suit against the defendant for the recovery of a sum of Rs. 99,500/- together with interest thereupon.

(3.) In response to the notice, the defendant appeared in the Trial Court and filed his written statement wherein he denied the alleged loan transaction with the plaintiff. He also denied the alleged execution of agreement, Promissory Note and receipt by him in favour of the plaintiff. He further denied of having handed over his Life Insurance Policy Bond to the plaintiff. Alleging that by concocting documents, the plaintiff had filed a false suit against him, the defendant had prayed for dismissal of the suit.