V.S.KUMARAN Vs. K.B.RAJU

JUDGEMENT

(1.) The lis, on hand, is filed challenging the judgment and decree passed in O.S.No.82 of 2014 dated 21.04.2017. The defendants are the appellants in the present appeal suit and the plaintiff is the respondent before this Court.

(2.) The contentions of the appellants/defendants are that on 20.09.2011 the appellants/defendants who are husband and wife, jointly borrowed a sum of Rs.5,00,000/- from the respondent/plaintiff and executed 'A' marked pronote on the same day and the appellants/defendants are agreed to repay the said borrowed amount on demand with interest at the rate of 24% per annum. Again on 22.09.2011, the appellants/defendants jointly borrowed a sum of Rs.5,00,000/- from the respondent/plaintiff and executed a 'B' marked pronote on the same day and the appellants/defendants agreed to repay the same on demand with interest at the rate of 24% per annum. Again on 24.09.2011, the first appellant/first defendant alone borrowed a further sum of Rs.2,50,000/- from the respondent/plaintiff and executed another pronote on the same day and agreed to repay the same on demand with interest at the rate of 24% per annum. The respondent/plaintiff reserved his right to file a separate suit for recovery of the amount due under the pronote dated 24.09.2011 against the first appellant/first defendant separately.

(3.) Subsequently, on 03.10.2011 the first appellant/first defendant issued a cheque dated 03.10.2011 bearing No.602913 drawn on Bank of India in favour of respondent/plaintiff towards the aforesaid amounts borrowed and due by him and his wife. The cheque was dishonoured for the reason "Exceeds Arrangement"?. He was constrained to issue a Lawyer's notice dated 11.10.2011 and reply was furnished by the first appellant/first defendant on 21.10.2011 and thereafter, the respondent/plaintiff filed a complaint against the first appellant/first defendant under Section 138 of the Negotiable Instruments Act in C.C.No.593 of 2011 and the said criminal case ended with order of acquittal and an appeal was filed by the respondent/plainitff and the said appeal was pending before this Court.