SANJAY MITTAL Vs. SUNIL JAIN

JUDGEMENT

(1.) Rfa No. 823/2006

(2.) The facts of the case are that the appellant/plaintiff filed the subject suit pleading that he had granted firstly a loan of Rs. 2,00,000/- to the respondent/defendant on 20.07.2002, and in token of receipt of which the respondent/defendant had executed the receipt Ex. P3. Another loan of Rs. 3,00,000/- was said to have been given by the appellant/plaintiff to the respondent/defendant on 03.05.2003 to evidence which, another receipt was executed by the respondent/defendant which is Ex. P2. The appellant/plaintiff claimed that to repay the loan, a cheque of Rs. 3,00,000/-, in part payment, was issued by the respondent/defendant on 20.09.2004, and this cheque was dishonoured on presentation. The subject suit was, therefore, filed for recovery of principal loan amount of Rs. 5,00,000/- and contractual rate of interest of 2% per month.

(3.) The respondent/defendant contested the suit and pleaded that he had not taken a loan of Rs. 5,00,000/- but, in fact, he had taken a loan of Rs. 3,00,000/- only. It was pleaded that the first time the loan was taken for Rs. 2,00,000/- and the second time when the loan was taken the loan was taken for Rs. 1,00,000/-. Accordingly, it was contended by the respondent/defendant that a total amount of Rs. 3,00,000/- only was taken as a loan and it was further explained that at the time of taking the second loan of Rs. 1,00,000/-, a receipt of Rs. 3,00,000/- was executed because the appellant/plaintiff claimed to the respondent/defendant that he had lost the first receipt executed for the earlier loan of Rs. 2,00,000/-. The respondent/defendant, therefore, claimed that the cheque which was issued for Rs. 3,00,000/- was to be in full and final settlement of the entire loan amount received of Rs. 3,00,000/-, and that the respondent/defendant is ready to pay this amount of Rs. 3,00,000/- to the appellant/plaintiff in full and final satisfaction of all the claims of the appellant/plaintiff towards the principal loan amount of Rs. 3,00,000/-.