LAL CHAND BALWANT RAI Vs. CHAUDHRY JHANDU

JUDGEMENT

(1.) The plaintiff firm being not fully satisfied with the judgment and decree of the trial court has preferred this appeal.

(2.) The facts of the case lie within a very narrow compass. The plaintiff filed a suit for recovery of Rs. 32,750/- on the basis of pronote dated 2.1.1976. The plaintiff claimed a sum of Rs. 25,000/- as principal amount and Rs. 7750/- as interest.

(3.) The defendant tiled written statement denying his liability to pay the amount claimed on a number of grounds, namely, that the plaintiff firm is a money lending firm and so suit is not maintainable till the plaintiff gets a money lending licence from the authorities. The defendant further resisted the claim of the plaintiff stating that the interest claimed is too excessive. However, in the alternative, it was prayed that in case suit is decreed, he be permitted to pay the amount due in instalments.