NACHHATTAR SINGH Vs. KEWAL SINGH

JUDGEMENT

(1.) THIS regular second appeal filed by the defendant is directed against the judgment and decree dated 24/04/2007 passed by the first Appellate Court vide which the appeal filed by him challenging the judgment and decree dated 19/01/2005 passed by the Trial Court decreeing the suit of the plaintiff for recovery of Rs.2,00,000/- along with interest at the rate of 12 1/2% per annum from the date of execution of the pronote, i.e. 17/01/2001, till realization, was partly accepted by only reducing the rate of interest to 9% from 12 1/2% per annum.

(2.) SANS unessentials, the facts of the case are that the plaintiff filed a suit for recovery of Rs.2,00,000/- along with interest at the rate of 2% per month on the averments that on 17/01/2001, the defendant approached him for obtaining a loan of Rs.2,00,000/- which was advanced to him with the stipulation of returning the same on demand along with interest at the rate of 2% per month. The defendant executed the pronote and receipt dated 17/01/2001 in favour of the plaintiff in token of the said loan which was got scribed from Jagpal Singh. The loan amount was received by the defendant in the presence of the witnesses of the pronote and receipt as well as the scribe thereof. It was pleaded that when the plaintiff demanded the loan amount, the defendant failed to repay the same as well as the interest accrued thereon and that gave rise to the filing of the suit.

(3.) THE Trial Court, on appreciation of the oral as well as the documentary evidence led by the parties came to the conclusion that the plaintiff gave a loan of Rs.2,00,000/- to the defendant and, therefore, he was entitled to recover the loan amount along with interest at the rate of 12 1/2% per annum. Accordingly, the Trial Court vide judgment and decree dated 19/01/2005 decreed the suit of the plaintiff for recovery of Rs.2,00,000/- along with interest at the rate of 12 1/2% per annum from the date of the execution of the pronote, i.e. 17/01/2001, till realization of the decretal amount. Feeling aggrieved, the defendant went in appeal and the lower Appellate Court upholding the findings of the Trial Court regarding availing of loan by the defendant from the plaintiff dismissed the appeal with a modification to the extent that the plaintiff would be entitled to recover the loan amount of Rs.2,00,000/- along with interest at the rate of 9% per annum from the date of the execution of pronote, i.e. 17/01/2001, till the date of realisation.