ASSAM INDUSTRIES BOKAKHAT Vs. LADULALJAIN

JUDGEMENT

(1.) This First Appeal been filed by the defendants in the suit against the judgment and decree 4.9.93 passed by the learned Assistant District Judge (now Civil Judge, Sr. Division), Golaghat in Money Suit No. 26 of 1988 decreeing the plaintiff's suit.

(2.) A brief resume of the facts may be made as hereunder:

(3.) The plaintiff, a registered partnership firm, carrying on business amongst others as banker, dealer and distributor of petroleum products instituted Money Suit No. 26 of 1988 in the Court below praying for realization of a sum of Rs. 1,25,000/- along with interest at agreed rate of 18% thereon against the present appellants as defendants. The short case of the plaintiff is that on 24.12.85 the defendant No. 3(appellant No. 2 herein), on behalf of the other defendants in the suit had approached the plaintiff for grant of a loan of Rs.1,25,000/- in the name of defendant No. 1, a partnership firm. The aforesaid loan amount was agreed to he repaid on 15.4.86 along with interest at the rate of 18% per annum. According to the plaintiff an account payee cheque bearing No. 001622 dated 27.12.85 in favour of the defendant-firm/appellant No. 1 drawn on United Bank of India, Bokakhat Branch was issued by the plaintiff. The defendant acknowledged receipt of the said loan bya letter as also the terms and conditions of repayment as stated hereinabove. As the defendant had failed to repay the loan, the plaintiff issued letters of demand on 14.4.86 as well as on 28.6.86. The defendants on receipt of the said letters, by replies dated 28.4.86 and 2.7.86, while accepting the fact that the amount was due, requested the plaintiff to wait for some more time. As the subsequent communications of the plaintiff were not responded by the defendants, the instant suit was filed after giving due notice to the defendants.