M B SREEDHAR Vs. M N CHANDRASHEKHAR

JUDGEMENT

(1.) The present appellant was the defendant in the Court of the Civil Judge (Sr.Dn.), Maddur, (henceforth for brevity referred to as "the Trial Court") against whom the present respondent as a plaintiff had instituted a suit in O.S.No.44/2006 for recovery of a sum of Rs.63,300/- together with interest thereupon.

(2.) The summary of the case of the plaintiff in the Trial Court was that, the defendant being a known person to him had borrowed a hand loan of Rs.50,000/- from him for his legal necessity and household expenses on 12005 and had agreed to pay interest thereupon @ 2% per month and that he had also executed an Ondemand Promissory Note in that regard in favour of the plaintiff. However, the defendant did not keep up his promise and failed to pay the loan amount with interest thereupon, which made the plaintiff to issue a legal notice to him dated 24.1.2006. Despite receipt of the legal notice, the defendant neither responded to the notice nor repaid the loan amount, which constrained the plaintiff to institute a suit for recovery of money.

(3.) In response to the notice served upon him, the defendant appeared through his Counsel and has filed written statement wherein he has denied all the plaint averments with respect to the alleged loan transaction. He has totally denied that he had ever taken any hand loan from the plaintiff much less under the suit transaction.