RADHY SHYAM Vs. JAIBIR SINGH

JUDGEMENT

(1.) The plaintiffs have filed the suit for recovery of Rs. 7,50,000.00 from the defendant on the basis that the defendant issued three post dated cheques and the defendant did not pay the amount. Hence this suit.

(2.) Briefly stated the case of the three plaintiffs is that the defendant entered into an agreement with Mr. Radhey Shyam and Lakhi Ram, plaintiffs I and 3 to purchase the land situated in the Village Kakraula for a total consideration of Rs. 32,00,0000.00 . The defendant had paid a sum of Rs. 24.50 lakhs. By a deed of agreement dated 15.1.1992 the defendant acknowledged the dues of Rs. 7.5 lakhs towards the balance consideration of the sale. Accordingly to the plaintiffs the defendant issued postdated account payee cheques with the amounts and the name of the Banks mentioned in the following manner : <FRM>JUDGEMENT_875_DLT67_1997Html1.htm</FRM>

(3.) The plaintiffs I and 3 presented the cheques for payment but the Bank did not encash the cheques because the defendant had issued stop payment directions to the Bank.