RAJINDERA STEEL INDUSTRIES Vs. BAL MUKAND

JUDGEMENT

(1.) The facts giving rise to the filing of the present appeal are that the plaintiff respondent filed a suit for recovery of Rs. 41,000/- against the appellants. Out of the aforesaid amount Rs. 35,000/- were claimed by way of principle amount, whereas Rs. 6,000/- were claimed by way of interest. According to the averments made in the plaint, the defendant-appellants borrowed a sum of Rs. 1,40,000/- from the plaintiff vide cheque No. 395726 drawn on Union Bank of India, Mandi Gobindgarh. The amount was withdrawn by the defendants on 16.1.1984. The defendants did issue a cheque for the entire amount Rs. 1,40,000/- on 8.2.1984 in favour of the plaintiffs, but the same was dishonoured. The plaintiffs were again given two cheques of Rs. 70,000/- each at a later stages out of which, only one cheque dated 24.2.1984 was honoured, but the other cheque of Rs. 70,000/- was again dishonoured. Thereafter defendants gave Rs. 35,000/- vide cheque dated 27.3.1984. In this manner, according to the case of the plaintiffs, they got a sum of Rs. 1,05,000/- out of the borrowed amount. Since the defendants did not pay the balance amount of Rs. 35,000/- suit for the recovery was filed along with interest at the rate of 12-1/2% per annum.

(2.) The defendant-appellants contested the suit denying the receipt of Rs. 1,40,000/- from the plaintiffs. At the same time a plea was taken that a sum of Rs. 1,05,000/- was returned. It was further the plea of the defendants that they paid Rs. 35,000/- in cash to Bal Mukund-plaintiff on 27.3.1984. It was further pleaded that the plaintiff was a money-lender and since he has not obtained a licence, therefore, the suit was not maintainable. The defendants took another plea that the plaintiffs did not maintain any accounts in terms of provisions of Clauses (a) & (b) of sub-section (1) of Section 3 of the Punjab Regulation of Accounts Act, 1930.

(3.) The Courts below have decided all the issues in favour of the plaintiffs and against the defendants. The suit of the plaintiffs for a sum of Rs. 41,000/- has been decreed.