(1.) THIS second appeal of the plaintiffs is directed against the decree passed by Shri S. J. Surena, 1st Additional District Judge, Indore, in Civil Appeal No. 453 of 1955 dismissing their suit to recover Rs. 3700/ - from the defendant -respondent.
(2.) THE defendant incurred loans by pawning his gold and silver ornaments with the plaintiffs from time to time since Samvat 2005 (1948) agreeing to repay them with interest. Rs. 3622/1/ - including interest was found due from him on Kartik Sudi 1 Samvat 2007 (10 -11 -1950) which was duly acknowledged by him under Ex P -4. Thereafter the defendant made, some repayments but could not wholly discharge the loan and when being pressed for the payment of the amount he executed a chithi dated 8 -8 -1953 (Ex. P.17) acknowledging the liability and agreeing to clear of the debt by Shravan Sudi 15 Samvat 2010 (end of August 1953). In spite of this, he failed to pay up the loan amount and therefore plaintiffs brought the suit out of which this appeal arises, for Rs. 3700/ - inclusive of interest.
(3.) IT was his case that the plaintiffs are money -lenders and he is in agriculturist, that they failed to submit yearly statements of accounts to him and therefore they are not entitled to interest and costs. It was further pleaded by him that as the plaintiffs failed to register themselves as money -lenders and obtain money -lender's certificate as required by sub -section (1) of Section 3 of the M. B. Money Lenders Act, their suit was not maintainable under sub -section (3) of section 3 of the said Act.