VINOD MAHAJAN Vs. GAYATRI ENTERPRISES & ORS

JUDGEMENT

(1.) The present appeal arises out of the impugned judgment and order dated 24th March, 2012 by which the Trial Court dismissed the suit for recovery of the Plaintiff/Appellant (hereinafter, "Plaintiff") against the Respondents/ Defendants (hereinafter, "Defendants").

(2.) In brief, the case of the Plaintiff is that he gave a sum of Rs.10,50,000/- to the Defendants. The Defendants agreed to return the said money and executed a Promissory Note, the original of which is on record and is exhibited as Exhibit DW-1/PX-1. The text of the Promissory Note reads as under: -

(3.) A perusal of the above Promissory Note reveals that post dated cheques for a sum of Rs.14,00,000/- were issued by the Defendants against the loan taken by them. The Promissory Note is signed by Mr. Mayur Pasricha-Defendant No.2 and witnessed by his brother, Mr. Manik Pasricha. The third signature appearing on the Promissory Note is of Mr. Adarsh Kumar Gupta, the Plaintiff's brother, who is since deceased. Out of the said amount of Rs.14,00,000/-, the cheque for Rs.5,00,000/- dated 17th March, 2003 was taken back by the Defendants and in place thereof, cash of Rs.3,50,000/- was given along with a cheque of Rs.1,50,000/- dated 10th April, 2003. Thus, the total amount outstanding which were to be paid by cheques was Rs.10,50,000/-.