M C SURESH Vs. B SRINIVAS NAIK

JUDGEMENT

(1.) THIS appeal is directed against the judgment and decree in O.S. No. 8524/2001 dated 11.7.2007 on the file of the 30th Additional City Civil Judge, Bangalore City. The appellant was the first defendant, first respondent was the plaintiff and respondent Nos. 2 and 3 were the defendant Nos. 2 and 3 in the said suit. For the sake of convenience, the parties are referred to by their respective ranking before the Trial Court.

(2.) THE plaintiff filed the aforesaid suit for recovery of a sum of Rs. 86,050/- together with Court costs, interest at the rate of 18% per annum from the date of the suit till its realisation. In the said suit, the plaintiff contends that defendant Nos. 1 and 2 approached him and requested for a loan of Rs. 1,00.000/- for construction of their house. Considering their plea, the plaintiff gave a loan of Rs. 50,000/- on 16.11.1998, out of his retiral benefits. In this connection, defendant Nos. 1 and 2 have jointly executed an on demand promissory note and a consideration receipt in favour of the plaintiff both dated 16.11.1998. It is further contended that at the time of borrowing, defendant Nos. 1 and 2 assured that they will return the loan amount within six months from the date of the said promissory note. THE plaintiff further contends that though the construction of the house was completed long ago, defendant Nos. 1 and 2 failed to repay the said amount. THErefore, he sent a notice calling upon defendant Nos. 1 and 2 to return the said amount, which has been duly served on them on 17.10.2001. Since defendant Nos. 1 and 2 refused to pay the aforesaid amount, the plaintiff has filed the suit for the following reliefs: To recover the principal amount of Rs. 50,000/- with contractual interest at 2% per month from 16.11.1998 to 12.11.2001, which comes to Rs. 35,900/- and notice charges of Rs. 150/-, in all Rs. 86,050/-.

(3.) ON the basis of the plaint and the written statement filed by defendant No. 3, the Court below posted the matter for framing of the issues on 8.10.2002. ON 5.7.2003, the Court below framed the following issues: 1. Does the plaintiff prove the liability of the defendants to pay Rs. 50,000/- towards the principal as averred? 2. Is plaintiff entitled to the suit claim? 3. What relief?