GOVIND CHINTAMAN BHAT Vs. KACHUBHAI GULABCHAND

JUDGEMENT

(1.) On September 16, 1900, Rs. 10,000 passed from the firm of Chhaganlal Vakhatchand to the firm of Kachubhai Gulabchand ; and in the accounts of Chhaganlal Vakhatchand it is shown that Rs. 10,000 were credited to Kachubhai. Interest at three per cent, was credited up to the 3 of Aso Vad of the Samvat year 1957, and the total of principal and interest was carried on into the account of the year 1958, and it would appear that the account continued, interest at three per cent, being added at the end of each year, till 1908. Nothing further happened until in November 1918 in execution of a decree against Nagindas, the only son of the original depositor Chhaganlal Vakhatchand, the debt due by the firm of Kachubhai Gulabchand was put up for sale and bought by one Krishnaji Bhat for Rs. 120. In October 1919, Krishnaji assigned his right to the debt to one Narain Krishna for Rs. 1,000 and the present plaintiff bought it from Narain Krishna for Rs, 1,100 on November 4, 1919. On November 7, he gave notice to Kachubhai Gulabchand to pay the amount. Certain other defendants besides the shop of Kachubhai Gulabchand were added on the ground that they were bhau-bands of Kachubhai Gulabchand. But there does not appear any reason why these defendants should have been added as parties.

(2.) The first defendant alleged in his written statement that he had borrowed Rs. 10,000 at three per cent, from the alleged depositor, that it was not a deposit, and that the alleged claim was time-barred. He also alleged payment.

(3.) The trial Judge dismissed the plaintiff's suit on the ground that the suit was for money lent, therefore, time began to run from the date of the loan.