M. SIVARAM Vs. A.M. GOPALAN

JUDGEMENT

(1.) The petitioner in O.P.No.262 of 2007 is the revision petitioner before this Court.

(2.) The case of the petitioner is that during the month of Dec. 2001, the petitioner had borrowed a sum of Rs.50,00,000.00 as unsecured loan for the business need from the respondents and at that time of sanctioning the loan, the respondents have obtained signature in various blank papers and also blank cheques without security. It is further stated that in spite of the major set back in the business, the petitioner has fully repaid the principal amount of Rs.50,00,000.00 borrowed from the respondents and the said repayment was made through the cheques and demand draft and to that effect the petitioner has also having all the statement of accounts for repayment of the same.

(3.) Thus being the case, the respondents were continuously threatening the petitioner to pay the exorbitant interest at the rate of 36%. While being so, on 09.06.2006, the respondents/agents were visited the petitioner's office and threatened that if the petitioner does not pay the interest in the above said percentage, he would have to face the dire consequences and they were returned back. After that, immediately the petitioner had sent a letter to the respondents stating about the incident that was happened on 09.06.2006 and also asked to return all the blank cheques, which were taken at the time of the borrowed loan as the petitioner has already repaid the entire principal amount and those cheques were no longer required by the respondents and also requested him to give the accounts on the interest charged on the said transaction. Though the letter was received by the respondents, but there was no reply from the respondents.