RADHA DEVI Vs. DHANIK LAL ISSER

JUDGEMENT

(1.) This application under Section 115 of the Code of Civil Procedure is by the defendants and arises out of a suit for recovery of dues on a deed dated 28-6-1962 for a sum of Rs. 8000/-. The deed was found to be insufficiently stamped. A controversy arose between the parties as to whether the stamp on the said deed was leviable under Article 15 or Article 49 (b) of the Schedule to the Indian Stamp Act.

(2.) The dispute between the parties is not really as to the amount of the deficit stamp duty but as to the nature of the document; whether it is a bond chargeable under Article 15 or a promissory note chargeable under Article 49-Under Article 49. promissory note "when payable on demand" is chargeable under Clause (a)", when payable otherwise than on demand" it is chargeable under Clause (b). Bond is defined in Section 2(5) as follows:

(3.) The deed is in the form of a letter by the debtors to the creditor and is dated 28-6-1962. After paying necessary compliments it recites the necessity for borrowing the money, the amount which was being taken on loan and the rate of interest payable on it. It then says-- Wada karte hin kejar Karja asal may sun mazkur tarikh 1-1-64 esavi ko apako aday kar dense. Esliye basabut karia chithi indul talab haza likh diva ki wakht par kam aye. It is not attested by anywitness. The two debtors have affixed their thumb impressions and signatures in the margin with endorsements that they have taken money on the terms mentioned in the letter and written the letter on demand (Chithi Indul Talab).