MARIA FINANCIERS Vs. PREETHY DENNY

JUDGEMENT

(1.) THESE second appeals arise from the judgment and decree of the Additional District Court (Fast Track -1) , Thrissur in A.S. No.257 of 2002 and 259 of 2002 which arose from the common judgment and decree of the IInd Additional Munsiff's Court, Thrissur in O.S. Nos .2200 of 1998 and 1756 of 1998. Parties are referred as plaintiffs and defendants as in O.S. No. 2200 of 1998.

(2.) O .S. No.2200 of 1998 is a suit filed by the plaintiffs for recovery of money from the defendants. According to the plaintiffs, as per a daily investment scheme started by the defendants, the first plaintiff was subscribing amounts to the defendants. She paid at the rate of 100.00 per day in daily investment scheme No.135 of 1995. Altogether, she paid Rs.49,000.00 to the defendants. The defendants dropped the scheme midway. The amount payable to the first plaintiff was fixed at Rs.50,000.00. The defendants issued cheque dated 18.03.1997 in the name of the second plaintiff (husband of the first plaintiff). That cheque was dishonoured as payment was stopped and fund was insufficient. In spite of notice, the defendants did not pay the amount. Hence the suit.

(3.) THE first defendant in O.S. No. 2200 of 1998 filed O.S. No. 1756 of 1998 claiming recovery of certain amount from the plaintiffs in O.S. No. 2200 of 1998. In O.S. No. 1756 of 1998 it is claimed by the first defendant ( in O.S. No. 2200 of 1998) that the second plaintiff (in O.S. No. 2200 of 1998) had borrowed Rs. 77,000.00 from the first defendant on 15.11.1995 undertaking to repay the same with 18% interest per annum and executed a demand promissory note as security for the due payment. The second plaintiff had agreed to repay the amount at the rate of Rs.100.00 per day in the name of his wife (first plaintiff in O.S. No. 2200 of 1998). The second plaintiff paid the amount in the name of the first plaintiff from 23.11.1995. He remitted the amount only for 490 days. Thereafter, he stopped payment. Hence O.S. No. 1756 of 1998 for recovery of the balance amount.