VANLALRUATI PACHUAU Vs. SH LALLAWMSANGA RALTE

JUDGEMENT

(1.) Heard Mr. L.H. Lianhrima, the learned senior counsel appearing for the appellant and Mr. T. Lalnunsiama, the learned counsel appearing for the respondent.

(2.) This appeal had been filed by the appellant/ plaintiff against dismissal of Civil Suit No. 35/2009 vide Judgment and Order dated 09.03.2015, passed by the Court of the Civil Judge, Aizawl.

(3.) The case of the appellant/plaintiff is that as the appellant was in need of money, she approached the respondent for a loan of Rs. 12 lakhs in the month of December, 2008. The respondent agreed to give the loan and stated that the loan agreement would be in the form of an oral agreement. However, a Sale Deed would have to be made for the appellant?s land and building covered by LSC No. AZL. 91 of 1974, which would be used as collateral security for repayment of the loan. The further case of the appellant is that the respondent assured the appellant that the Sale Deed would only be used to secure the loan amount and that the Sale Deed would be cancelled once the loan amount was repaid. Accordingly, on 10.12.2008, Sale Deed was executed between the parties and the respondent handed over a sum of Rs. 15 lakhs to the appellant. The interest payable on the loan amount of Rs. 15 lakhs was 10% per month. Out of the Rs. 15 lakhs loan, Rs. 3 lakh was returned by the appellant to the respondent, as interest on the Rs. 15 lakhs loan for the months of December, 2008 and January, 2009. The appellant?s further case is that the appellant was to return the entire loan amount with interest within 6 months w.e.f. 10.12.2008.