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JYOTI MULIMANI
V. Parushuramappa – Appellant
Versus
Chigateri Ramana Gauda – Respondent
JUDGMENT/ORDER
1. Sri.Mallikarjunswamy B.Hiremath., learned counsel for petitioner and Sri.Santosh B.Mane., learned counsel on behalf of Sri.Neelendra D.Gunde., for respondent have appeared in person.
2. For the sake of convenience, the parties shall be referred to as per their status and rankings before the Trial Court.
3. The facts, in brief, are these: It is stated that the defendant approached the plaintiff and requested the plaintiff a hand loan of Rs.50,000.00 (Rupees Fifty Thousand only) for his family's necessities and his immediate needs. Further, the defendant availed the said loan of Rs.50,000.00(Rupees Fifty Thousand only) by executing a demand promissory note on 21/4/2015 in favor of the plaintiff and agreed to pay interest at 24% per annum on the amount availed. It is averred that after availing of the loan, the defendant did not repay the amount. The plaintiff requested the defendant to repay the loan amount and interest many times. He issued a lawyer's notice dtd. 22/4/2017 and the same was served to the defendant; there was no reply from him. The defendant was due to pay an amount of Rs.75,800.00 (Rupees Seventy Five Thousand and Eight Hundred only) inclusive of int
The central legal point established in the judgment is the requirement to prove the execution and genuineness of a promissory note under the Negotiable Instruments Act 1881.
Mere admission of a signature on a promissory note does not establish its valid execution; the initial burden under Section 118 of the Negotiable Instruments Act, 1881, resides with the plaintiff to ....
Presumption of validity under Section 118 of the Negotiable Instruments Act remains unrefuted by the defendant, affirming enforceability of promissory note despite claims of fabrication.
The mere admission of a signature on a Promissory Note does not invoke the presumption under Section 118 of the Negotiable Instruments Act without proof of execution and passing of consideration.
The presumption of consideration under Section 118 of the Negotiable Instruments Act is robust against mere denial by the borrower of signing promissory notes.
The presumption of consideration under Section 118(a) of the Negotiable Instruments Act applies when the execution of a promissory note is admitted, shifting the burden to the defendant to prove non-....
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