MAHESH KUMAR WADHWA Vs. BIMAL LUTHRA

JUDGEMENT

(1.) THE defendant seeks leave to defend the suit under Order 37 CPC instituted for recovery of Rs. 32,91,100/- on the basis of two promissory notes for Rs. 14,55,000/- and Rs. 4,75,000/-, with interest at 24% per annum.

(2.) THE plaintiff approached the court pleading that the defendant is the husband of the cousin of the father-in-law of Shri Manohar Lal Wadhwa, brother of the plaintiff.

(3.) IT was further pleaded that the defendant approached the plaintiff through the said Shri Manohar Lal Wadhwa for a friendly loan to help the defendant in a financial crisis; the plaintiff, on the request of his brother, claims to have given a friendly loan of Rs. 14,55,000/- in cash to the defendant on 5th November, 2003 and a further friendly loan of Rs. 4,75,000/-, also in cash on 16th February, 2004; the defendant is stated to have further assured to repay the said loan as early as possible and to pay interest to the plaintiff at 24% per annum; the defendant is stated to have executed pronotes in favour of the plaintiff and to have "also executed a receipt of the amount in the presence of Shri M. L. Wadhwa on both the dates i. e. , 5th November, 2003 and 16th February, 2004".