S A S NAGAR FRIENDS PLOT HOLDERS CO-OP HOUSE BUILDING SOCIETY LTD Vs. ADDITIONAL REGISTRAR (D) CO-OPERATIVE SOCIETIES

JUDGEMENT

(1.) Respondent No. 4, Pal Singh, obtained a loan of Rs. 35,000/- from the petitioner Cooperative Society in three instalments on different dates and executed pronotes detailed below towards securing of the loan :

(2.) The solitary ground raised on behalf of the petitioner-Society is that as per clause (4) of the promote which has already been reproduced above, the petitioner- Society could demand the entire amount of loan in case it so desired. It has been asserted on this basis that the appellate and revisional - authorities in deciding against the petitioner vide orders, Annexures P-2 and P-4 have transgressed and ignored the specific provision of the pronote executed by respondent No. 4.

(3.) Written statements have been filed on behalf of respondents No. 1, 2 and 4. The factual aspects have not been disputed by respondent No. 1 and 2 and the orders impugned have been sought to be justified. Respondent No. 4, however, has filed elaborate written statement in which he has taken the stand that he was required to pay a total sum of Rs. 43,254/- against the loan amount of Rs. 35,000/-, but during the course of a decade from 1979 to 1989 he had in fact repaid to total amount of Rs. 46,945/- was therefore entitled to recover a sum of Rs. 3691/- from the petitioner-Society. In para 4 of the reply more details as to the various instalments that have been paid towards clearing of the loan have been set out.