PYARELAL SINGH PUNJABI Vs. AMRIT RAI

JUDGEMENT

(1.) THE unsuccessful plaintiff in Money Suit No. 20 of 1978 has preferred this appeal against the judgment dated 23rd October, 1979 passed by the learned Subordinate Judge, Titilagarh dismissing the suit on the ground of non -compliance of Section 18 -B of the Orissa Money Lenders Act, 1939 (hereinafter referred to as 'the Act').

(2.) THE plaintiff's case in brief, is that the plaintiff was a registered money lender having licence No. 8 of 1971 for Rs. 50,000/ - from the competent authority under the Act. Loknath Rai, the predecessor of the defendants, being in need of money to meet the legal necessity of his family, took loan of Rs. 4,000/ - from the plaintiff on 17.5.1975 on executing promissory Note, Ext. 2. It was agreed upon that the aforesaid loan would carry interest at the rate of 12% per annum. In spite of repeated demands the debtor did not pay anything either towards the loan or interest accrued thereon. Ultimately he died leaving behind the defendants as his heirs on whom the properties left behind him have devolved. So, the defendants were liable to repay the loan to the plaintiff, but they failed. Hence the suit.

(3.) ON the above pleadings the learned trial Court framed eight issues of which the main issues were :