A.K.SREEJITH Vs. A.G. SIVAN

JUDGEMENT

(1.) The suit for money due under a promissory note was decreed by the trial court. The defendant is in appeal.

(2.) The defendant is the plaintiff's nephew(brother's son). According to the plaintiff, on 17/4/2010, the defendant borrowed an amount of Rs.7,50,000.00 and executed Ext.A1 promissory note. On failure on the part of the defendant to repay the amount, the suit is filed.

(3.) The defendant contended that, the plaintiff, who was running an engineering workshop, was in severe financial crisis and debts. The plaintiff entrusted the defendant the task of running the workshop. The defendant was to be paid salary of Rs.8,000.00 per month. Not only that the salary was not paid to him, but he had to even satisfy the debts of various creditors of the plaintiff. It is alleged that, to ward off the creditors and to satisfy them, the plaintiff had obtained blank signed stamp papers from the defendant. In March, 2010, the defendant entered into an agreement for purchase of an apartment. The plaintiff offered some financial assistance for the same. In the said connection when the accounts were looked into it was found that, as on 31/3/2010, an amount of Rs.7,18,153.00 was payable to the defendant by the plaintiff. The defendant was required to sign a blank paper with a revenue stamp affixed thereon towards receipt of the amount. The defendant acceded to the same. The plaintiff promised that the amount will be paid after selling the workshop; during that time, there were prospective buyers for the workshop. In the year 2012, though the plaintiff sold the workshop, the amounts due to the defendant was not paid. A signed paper obtained by the plaintiff has been misused to fabricate the promissory note in question, it is contended.