BANT SINGH Vs. NAHAR SINGH

JUDGEMENT

(1.) This is defendant's second appeal against whom suit for recovery of Rs. 3,042/- has been decreed by both the courts below.

(2.) The plaintiff-respondent filed the suit for the recovery of Rs. 3,484/-, i.e. Rs. 2,600/- as principal and Rs. 884/- as interest alleging that he is a registered money lender and is doing money lending business since long. Defendant-Bant Singh borrowed a sum of Rs. 2,600/- from him and executed a promissory note stipulating to pay back the loan with interest at the rate of Re. 1/- per cent per month. Since the defendant failed to pay the amount, hence the present suit.

(3.) The suit was contested inter-alia on the ground that the defendant did not borrow the amount as alleged nor did he execute the promissory note or receipt in favour of the plaintiff. It was further pleaded that the plaintiff was not entitled to any amount by way of interest because he failed to comply with the provisions of Punjab Regulation of Accounts Act, 1930.