ANDAVAR FINANCE CORPORATION Vs. V MURTHY

JUDGEMENT

(1.) THE suit is in respect of a chit transaction out of which payment was made to the defendant and which was evidenced by a promissory note. The said suit was dismissed by the trial Court, and the dismissal is challenged before me in this revision petition.

(2.) ). So far as execution of the promissory note is concerned, the trial Court has recorded a finding that the promissory note has been executed and the defendant had failed to prove that no consideration passed under it. It is further submitted that the question of registration of the firm was not taken in the written statement but still the Court took it as a point, suo motu and held it against the plaintiff.

(3.) THE learned counsel for the respondents relied heavily on the dictum of the Hon'ble Supreme Court in the case of Sriram Finance Corporation v. Yasin Khan reported in AIR 1989 SC 1765 to the following effect :