M NARAYAN Vs. S NAGARAJU

JUDGEMENT

(1.) The present respondent in his capacity as a plaintiff had instituted a suit in O.S.No.709/2009 against the present appellant arraigning him as a defendant in the Court of learned XIX Addl.City Civil & Sessions Judge, Bengaluru City, (hereinafter for brevity referred to as 'trial Court'), for recovery of a sum of '3,74,000.00 from the defendant together with interest at the rate of 6% p.a., from the date of suit till the date of realisation.

(2.) The summary of the case of the plaintiff in the trial Court was that the defendant had borrowed from him a sum of '3,50,000.00 on 10.9.2001 and '2,00,000.00 on 10.8.2002 in the form of hand loans agreeing to repay the same together with interest thereupon at 2% p.a. Though the defendant paid only a sum of '50,000.00, but, failed to pay the remaining amount. It is the further contention of the plaintiff that even thereafter, the defendant executed an Acknowledgement of Debt on 20.8.2003, acknowledging his liability and subsequently issued few post-dated cheques in his favour. However, the cheques also got dishonoured. Thus, as on the date of institution of the suit, he was in arrears of '3 lakhs towards principle amount and an interest of '74,000.00, thus, in total a sum of '3,74,000.00.

(3.) In response to the summons, the defendant appeared through his counsel and filed written statement denying all the plaint averments. He denied the alleged loan transaction, as well his alleged liability to pay the suit claim to the plaintiff. He also contended that the suit was not maintainable as barred by limitation.