CHETAN SINGH Vs. R.C.CHADDA

JUDGEMENT

(1.) Facts. The plaintiff has filed the present suit under Order XXXVII of the Code of Civil Procedure, 1908 [hereinafter referred to as "CPC"] for recovery of a sum of Rs.2,00,10,000/- from the defendant, alongwith interest pendente lite and future interest @ 15% per annum. I.A. 4399/2019 is the plaintiff's application for summons for judgment and I.A. 7397/2019 is the defendant's application for leave to defend the suit.

(2.) The case made out in the plaint is that the defendant (who is a practising chartered accountant) was a friend of the plaintiff, and sought financial assistance for the purpose of making certain investments. According to the plaintiff, the amount advanced was to be repaid within eight quarters and carried interest of 15% per annum, payable quarterly. The plaintiff has given details of the electronic transfer of various sums of money from the plaintiff's account to the defendant's account, between 25.03.2014 and 08.06.2016, amounting to a sum of Rs.1,60,00,000/-.

(3.) The plaintiff has also placed on record confirmations of account stated to have been issued and signed by the defendant. These confirmations are dated 06.07.2014 (with respect to the sum of Rs.1,00,00,000/-), 19.01.2016 (with respect to sum of Rs.1,40,00,000/-) and 20.08.2016 (with respect to sum of Rs.1,60,00,000/-). The latter two confirmations also contain handwritten endorsements by the defendant, to which reference shall be made later in this judgment.