CHARAN SINGH Vs. BALBIR SINGH

JUDGEMENT

(1.) Cm No.10470-C of 2013

(2.) This is plaintiff's second appeal challenging the judgments and decrees of the Courts below whereby his suit for recovery against the defendant-respondent has been dismissed.

(3.) As per the averments, defendant-respondent wanted to purchase a Tempo bearing registration No.PB-12-G-5510 and for that purpose he approached the plaintiff-appellant for a loan of Rs. 50,000. The plaintiff-appellant gave him the loan. The defendant-respondent agreed to return the said loan on or before 05.07.2006 and also agreed that in case he fails to repay the amount of loan, the plaintiff-appellant would be at liberty to get the said Tempo sold. He further agreed to pay double the amount to the plaintiff-appellant if he could not return the amount of loan within the stipulated period. On these terms and conditions, the plaintiff-appellant paid Rs. 50,000 to the defendant-respondent on 19.07.2003 and an agreement to that effect was executed by the defendant in favour of the plaintiff-appellant and he put his signatures on the said agreement in the presence of attesting witnesses, after admitting the same to be correct. However, the defendant-respondent failed to make repayment of loan by the stipulated date, thus, he was liable to pay '1.00 lakh to the plaintiff-appellant along with interest. Since the defendant-respondent refused to return the aforesaid amount, necessity arose to file the suit.