VASHISHTA GAKHAR Vs. SANJAY CHAWLA

JUDGEMENT

(1.) THIS is a suit for recovery under Order XXXVII CPC filed by the plaintiff against the defendant.

(2.) BRIEF facts of the case are that in the month of July, 2010, defendant had approached the plaintiff for a loan of Rs. 15,00,000/ - for six months. The plaintiff provided to the defendant the sum of Rs. 7,00,000/ - and Rs. 8,00,000/ - against promissory notes and receipts dated 1st July, 2010 and 7th July, 2010 respectively. The defendant is the joint owner of land measuring 1 Bigha 17 Biswas in Khasra Nos. 31/18/3 and 19/1, situated in Tikari Kalan, Delhi (hereinafter referred to as the "suit property") and with the consent of other joint owners has deposited the original documents of title/rights of the suit property i.e. sale deed dated 24th February, 1981 and Khasra Girdawari with the plaintiff as security till the clearance of loan of Rs. 15,00,000/ - raised against the suit property.

(3.) IT is stated in the plaint that the plaintiff informed the defendant regarding dishonour of the cheques but no response was given by the defendant and hence, a legal demand notice dated 16th May, 2012 was issued by the plaintiff demanding the payment of the amount of the said cheques i.e. Rs. 15,00,000/ - along with interest due thereon @ 18% per annum from the date of promissory notes executed by the defendant in favour of the plaintiff besides Rs. 7,500/ - towards the cost of legal notice within 15 days from the date of receipt of the said notice.