OFFICIAL LIQUIDATOR Vs. BISHAN SINGH AND OTHERS

JUDGEMENT

(1.) This suit has been brought by the Official Liquidator, Agricultural Bank of Garhwal Ltd. (in Liquidation) for the recovery of Rs. 12, 382.55 paise with pendente lite and future interest at the rate of 6% per annum and costs from Sri Bishan Singh on the allegations, that on the 3rd July, 1948 he took a loan of Rs. 4,000/ - from the Plaintiff at the rate of 12% per annum compoundable yearly, and returnable within one year, and in lieu thereof executed the bond Ex. 1 and the receipt Ex. 3. The Defendant, however, did not pay back the amount due within the stipulated period but made ten payments towards the loan and interest amounting to Rs. 4, 441/ - , on 23 -5 -1951, 18 -7 -1952, 15 -7 -1955, 7 -4 -1956, 17 -11 -1956, 8 -6 -1957, 10 -5 -1958, 10 -7 -1958, 22 -5 -1959 and 6 -6 -1959 and also made acknowledgments of his liability in writing en 18 -7 -1952, 15 -7 -1955, 13 -6 -1958, 18 -3 -1959, 7 -4 -1960 and 8 -3 -1963. He, however, did not pay the balance due from him towards the principal and interest, inspite of demand and notice. The present suit was, therefore, brought on 23 -3 -1966, with the leave of the Company Judge for the reliefs stated above.

(2.) The Defendant contested the suit. In his written statement he admitted that he took a loan for Rs. 4,000/ - from the Plaintiff, but stated that he had paid up the entire amount. He denied having made any of the acknowledgments referred in the plaint, and stated that an officer of the Bank used to visit his village occasionally and he used to obtain his signatures en papers without explaining their contents to him. He further pleaded that the suit was barred by time and that the rate of interest was usurious as he was an agriculturist.

(3.) On these pleadings, the following agreed issues were framed by Manchanda, J.: