CITY UNION BANK LIMITED Vs. C THANGARAJAN

JUDGEMENT

(1.) The City Union Bank Limited, Thirukattupalli Branch, filed a suit in OS.No.193/1986, before the District Munsif Court, Thiruvaiyaru, against (1) Kumaraswamy, (2) Chellapappa and (3) Thangaraj, for recovery of a sum of Rs.2568.15/-, with future interest.

(2.) The case of the plaintiff is that the defendant along with others executed a promissory note in favour of the plaintiff/Bank on 19.11.1983 in Thirukkattupalli for Rs.4,000/-, agreeing to repay the same together with interest at Rs.16.50/- per cent per annum (compound interest) with quarterly rests. The loan was advanced for commercial purposes. The liability of the defendants interse is joint and several.

(3.) The 3rd defendant filed a written statement, wherein, it is stated that the document relied upon by the Bank is not a promissory note, so as to clothe him with any liability and the defendant did not borrow any amount from the plaintiff. The defendant has not participated in any transactions with the plaintiff, regarding the borrowing of the amount and payment of dues to the Bank.