SHOUGRAKPAM PURNIMA SINGH Vs. LUNGNINGAM GANGMEI

JUDGEMENT

(1.) Heard Shri R.K. Nokulsana, learned Senior Advocate appearing for the petitioner and none is present for the respondent.

(2.) The instant revision petition has been filed against the order dated 29.05.2017 passed by the learned Civil Judge, Senior Division, Bishnupur in Judl. Misc. Case No.167 of 2017 [O(M)S. No.2 of 2014].

(3.) Facts and circumstances which have led to the filing of the instant revision petition, are that the respondent filed a suit being O.(M).S. No.2 of 2014 against the petitioner praying for a decree for recovery of a sum of Rs.20,40,000/- (Rupees Twenty Lakh Forty Thousand) with interest at the rate of 6% per annum on the decreetal amount from the date of decree till the realization of decreetal amount. In the said plaint, it has been stated by the respondent that although he is a businessman by occupation, he was/ is not a money lender by occupation and he does not deal with the business of money lending. On 10.11.2013, the petitioner being a friend approached him for a loan of Rs.15,00,000/- (Rupees fifteen lakh) which the respondent agreed and accordingly, the respondent paid a sum of Rs. 15,00,000/- to the petitioner who, in turn, executed a money receipt in favour of the respondent in the presence of two witnesses. The petitioner also executed a demand promissory note and a loan agreement in favour of the respondent assuring to repay the amount with interest at the rate of 4% per month with effect from 01.11.2013 and in the loan agreement, the petitioner agreed that he would execute a deed in favour of the respondent for mortgaging his homestead land with delivery of possession and that the respondent was granted liberty to enter into possession of his homestead land in the event of his failure to repay the loan within the stipulated time.