P SAYAMBU NADAR Vs. V SUBRAMANIAM

JUDGEMENT

(1.) The Second Appeal has been admitted on the following substantial questions of law: 1. Whether the suit on an insufficiently stamped promissory note is maintainable on the original cause of action? 2. Whether the appellant is liable to pay interest as ordered by the lower court or as from the date of demand?

(2.) The case of the plaintiff is that the defendant borrowed a sum of Rs.5,700/- on 10.12.1987 for the purchase of spare parts for the lorry. On 6.6.1988 he has given a receipt acknowledging the debts payable by him. On the basis of the same, the suit has been filed for recovery for the amount of Rs.5,700/- together with interest at the rate of 12% per annum from the date of filing of the suit to the date of the decree and thereafter at the rate of 6% interest till the date of realisation. The trial Court decree the suit as prayed for. The first Appellate court confirmed the same. Against which the Second Appeal has been filed.

(3.) Learned counsel for the appellant submitted that Ex.A1 is not a promissory note and it is written in a non-judicial stamp paper and therefore, it is not properly stamped. Hence the suit cannot be laid.