TRILOK CHANDER GOUR Vs. THAKUR INVESTMENTS PRIVATE LIMITED

JUDGEMENT

(1.) THIS Regular First Appeal has been directed against the judgment and decree dated 26.6.2003 rendered by the learned Additional District Judge, Hamirpur in Civil Suit No. 4/99 (RBT No. 3/2002).

(2.) MATERIAL facts necessary for the adjudication of this Regular First Appeal are that the Respondent -Plaintiff (hereinafter referred to as 'Plaintiff ' for convenience sake) filed a suit for recovery of Rs. 3,16,000/ - with interest @ 22% per annum till payment and costs. According to the Plaintiff, Appellant -Defendant No. 1 (hereinafter referred to as 'Defendant No. 1 ' for convenience sake) approached the Plaintiff for advancement of loan. Proforma Respondents Narinder Nath Awasthi and Kushal Singh stood guarantors. The loan agreement was executed between the parties on 7.1.1997 (Ex. P.W. 3/A). An Equitable mortgage deed was also created and registered with Sub Registrar, Kullu on 7.2.1997. According to the terms and conditions of the agreement, Plaintiff has advanced loan of Rs. 2 lakhs and the same was to be re -paid in 24 installments of Rs. 12,000/ - per month. However, Defendant No. 1 did not repay the amount. It is in these circumstances, the Plaintiff instituted a suit against Defendant No. 1 for recovery of Rs. 3,16,000/ -.

(3.) ACCORDING to Mr. Neel Kamal Sood, learned Additional District Judge has misread and mis - appreciated the oral as well as documentary evidence led by the Plaintiff. He also contended that Defendant No. 1 is not liable to pay interest @ 22%, as ordered.