B SANGARMAL SOWCAR Vs. K MURUGESA NAICKER

JUDGEMENT

(1.) THIS civil revision petition arises cut of S. C. S. No. 738 of 1960 on the file of the Court of Small Causes, Madras filed by the petitioner for recovery of the balance of the loan advanced to the respondent on the security of jewels pledged with him.

(2.) ORIGINALLY, the respondent borrowed a sum of Rs. 950 on 19-6-1954, and executed a promissory note. Subsequently the respondent deposited with the petitioner some gold jewels as security for the loan on 25-6-1954. Since the respondent did not pay the loan the petitioner brought the pledged jewels to auction after due notice to the respondent. The amount due and payable to the petitioner was about Rs. 1316-50 np. as on 17-6-1957. He realised by the sale of the pledged jewels Rs. 989 on 17-6-1957. After giving credit to that amount, the petitioner filed the suit for recovery of the balance of Rs. 327-50 with interest at 12 per cent per annum on that amount upto the date of suit.

(3.) THE defence to the suit was that it was barred By limitation on the ground that when the loan itself was based on the promissory note dated 19-6-1954, the suit should have been filed within three years from that Gate and that inasmuch as it has been filed on 23-1-1960 it is barred by limitation.