J. M. A. STORES Vs. PUNJAB NATIONAL BANK

JUDGEMENT

(1.) The instant appeal is against the judgment and decree dated 15.04.1998 passed in civil suit No.11B/96 whereby a judgment and decree has been passed for Rs.4,49,853 along with an interest @ 21% p.a. from 30.11.1992.

(2.) The brief facts of this case are that a suit was filed by the Punjab National Bank against respondent No.1 Ramesh Kumar, respondent No.2 J.M.A. Stores Pvt. Ltd., J.M.A. Stores Pvt. Ltd. Magarpara Road, Jarahabhatha and Allahabad Bank, on the ground that the defendant No.1 Ramesh Kumar in order to purchase a Tata Chasis Truck had deposited a draft of Punjab National Bank of Rs.3,49,062/- in favour of J.M.A. Stores pvt. Ltd. (defendants No.2 & 3). The said draft was purported to be issued by Punjab National Bank, Dhaniyawa Branch, district Patna (Bihar). The defendants No.2 & 3 J.M.A. Stores Pvt. Ltd. & J.M.A. Stores Pvt. Ltd. Magarpara Road, Jarahabhatha were dealing in sale of the different vehicles. Pursuant thereto when the defendant No.1 Ramesh Kumar deposited the draft, the same was in turn deposited by the dealer of the truck defendants No.2 & 3 with their banker Allahabad Bank. Allahabad Bank in turn sent it for clearance to the plaintiff bank i.e. Punjab National Bank, Bilaspur as the draft was issued by the Punjab National Bank of Dhaniyawa Branch, District Patna. The branch at Bilaspur cleared the amount and deposited the amount of Rs.3,49,062/- and credited the amount to the account of the dealer.

(3.) It was further the case of the plaintiff Punjab National Bank that after clearance of the amount, the payee bank in turn sent the intimation to the Punjab National Bank, Dhaniyawa Branch on 12.07.1991. On 2nd of August,1991 they received an information from Dhaniyawa Branch, wherein it was informed that the said demand draft bearing No.PQW 261399 dated 08.07.1991 (Ex. P-2) was not issued by the said Branch. It was informed that the said draft book was lost/stolen from the Branch and the alleged draft was prepared by forgery. Subsequent enquiry conducted by the Branch revealed that the person Ramesh Kumar (defendant NO.1) had received the chasis of the truck had deposited the said draft for purchase of vehicle.