RAMARAPOO NARASIMHARAO Vs. BHAKT AW ANNUL DHANRAJ

JUDGEMENT

(1.) 1. This is an appeal against the judgment of A. D. V. Reddy, J. dated 18th March, 1959 in CCCANo. 71 of 65 by which he reversed the judgment of the trial court, and decreed the plaintiff's suit for recovery of their dues under a promissory note executed in their favour.

(2.) The promissory note dated 17-7-61 Ex. A-1 on the fact of which the suit was filed, was executed for Rs. 11,000/- borfowed by defendants 1 and 2 in favour of the 1st plaintiff firm to be referred to hereafter as the plaintiff firm. Defendants 1 to 4 are brothers, and members of a joint Hindu family, and the borrowing was for carrying on their family business of "contract works" etc Defendants 3 and 4 also executed an agreement in favour of the plaintiff firm as liable under the promissory note.

(3.) The defendants raised various pleas, that the promissory note was not supported by consideration, that the amount claimed was incorrect, and further, that the plaintiff firm did not have a money lender's licence under the Hyderabad Money Lenders Act (Act No. V of 1349 Fasli (hereinafter referred to as the Act), and the suit has to fail for that reason.