RAMESH CHANDER GOE Vs. MASTER CHIRAG GOEL

JUDGEMENT

(1.) The two suits are being decided together since they involved common issues and common transactions and were consolidated by Order dtd. 1/5/2019.

(2.) The plaintiff has sought recovery of sum of ?3,15,57,680/- against the defendant, his brother Daya Krishan Goel in Suit bearing No. 1240/2008 and Recovery of sum of Rs.1,54,43,120.00 from the defendant, his nephew Chirag Goel through his father Daya Krishan Goel in Suit bearing No. 1239/2008.Pendente lite and future Award interest @ 18% per annum has also been claimed from the date of filing of the Suit till its realization.

(3.) Facts in brief are that the plaintiff and the defendant Daya Krishan Goel are the real brothers while Chirag is the nephew. They had been doing business together and eventually the plaintiff shifted his business to Sri Lanka. The family business continued. According to the plaintiff on the request of defendant Daya Krishan Goel, he gave him (in CS(OS) 1240/2008) and his minor son defendant Chirag Goel (in CS(OS) 1239/2008) a personal loan in the sum of US $ 4,70,000/-, equivalent to INR Rs.2,04,92,000.00 and of US $ 2,30,000/-equivalent to INR Rs.1,00,28,000.00calculated @ 43.60 paise per US$ as prevalent on 1/7/2005 respectively. The sum is calculated @ 43.60 paise per US $ as prevalent on 1/7/2005. The money was transmitted by the plaintiff from his personal bank account maintained with the State Bank of India, Colombo, Sri Lanka by using SWIFT Banking Channel to the two accounts of the defendant Daya Krishan Goel and Chirag Goel, minor (maintained by his father Daya Krishan Goel) in ABN Amro Bank, NV, New Delhi on 1/7/2005.