JAYANTILAL D DOSHI Vs. BHARAT HIRALAL

JUDGEMENT

(1.) The suit is filed on 15th April, 1999 for recovery of Rs. 16,23,130/with interest. The defendant is a registered Broker and a proprietor of M/s. Hiralal Liladhar.

(2.) The plaintiff out of his saving lent and advanced to the defendant the amount as per the claims, as and by way of business loan. The defendant agreed to pay the interest at the varied rates from time to time. The defendant, as agreed, made part payment of interest and on closing of the financial years; the defendant sent confirmation statement showing the amount due and payable lastly on 27th May, 1996. Therefore, as on 01/04/1996, the amount was Rs. 11,26,978/. The defendant paid Rs. 23,232/on 15/06/1996 and Rs. 23,232/on 01/02/1996 which were duly credited in the Account and therefore, the suit based on balance principal amount on Rs. 10,81,514/with interest of Rs. 5,41,616/as on the date of the filing of the suit.

(3.) The plaintiff, therefore, demanded through the advocate notice dated 27th March, 1999. Though received, the defendant failed and neglected to make the payment. Hence, the present suit.