PRAHLAD SINGH Vs. BANK OF INDIA

JUDGEMENT

(1.) THIS appeal under Section 96 of the Civil Procedure Code has been preferred by the appellants being aggrieved by the Judgment and decree dated 22nd December, 2000 passed by III Additional District Judge, Damoh, in Civil suit No. l-B/2000 whereby the suit of the plaintiff has been decreed.

(2.) THE case of the plaintiff-Bank in the Trial Court was that on 28th march, 1985 a term loan of Rs. 1,81,000/- at the rate of 12. 5% per annum with quarterly rest was granted to defendant No. 1 to purchase the truck. The defendant No. 1 executed the deed of loan and hypothecation. The defendant no. 2 executed the guarantee deed. The loan was to be paid in instalments of rs. 5,000/- per month. The last instalment was payable in the month of May, 1988. The plaintiff filed the statement of account wherein the relief granted by the Government was credited in the account of defendant No. 1. On 13th August, 1988 the defendants and on 1-8-1990 and on 25-3-1991 the defendant No. 1 executed the acknowledgment of debt and revival letter in favour of the Bank. Since the intalment was not paid regularly, the legal notice was given but the defendants did not pay, hence the suit was filed for recovery of Rs. 4,87,784/- with interest thereon and to sale hypothecated Truck No. CPV-3464.

(3.) THE defendants by filing written statement mainly contended that the documents were not read over and explained to them. They have not executed any revival letter. They are riot affected persons. The interest claimed is very high. They are entitled for benefit of riot affected persons granted by the government. The suit is time barred, hence the prayer was made to dismiss the suit. The Trial Court framed the several issues, recorded the statement of Sanjay Kumar Telang (P. W. 1), B. G. Anand kumar (P. W. 2), S. Chandrashekhar (P. W. 3) and Prahlad Singh (D. W. 1), Balveer Singh Bagga (D. W. 2) and Joginder Singh Juneja (D. W. 3 ).