GANGOUR INVESTMENT LIMITED Vs. PITAMBER LAL GUPTA

JUDGEMENT

(1.) THIS appeal has impugned the judgment and decree dated 17.7.2006 which has endorsed the finding of the trial judge dated 06.8.2005 whereby the suit filed by the plaintiff M/s Gangaur Investment Ltd. seeking recovery of Rs.1,44,702.90 along with interest @ 18% per annum had been dismissed.

(2.) THE case of the plaintiff as is evident from the averments in the plaint is that the parties were dealing with one another in the sale purchase of the securities and shares. Amounts were duly debited and credited in the account of the defendant which was being maintained by the plaintiff as per the normal business transactions. As and when the defendant purchased shares through plaintiff the same had to be cleared within the settlement period; if the defendant sold shares within the settlement period the profit/loss would be debited/credited to the account of the defendant in the books of account maintained by the plaintiff. Contention of the plaintiff is that on 31.3.2001 a sum of Rs.1,32,048.65 was due and outstanding against the defendant.

(3.) THE finding of the trial judge has returned as follows: