Back
ASHOK S. KINAGI
Seetha Investments – Appellant
Versus
H. V. Raghavendra – Respondent
| Table of Content |
|---|
| 1. loan transaction validity and execution. (Para 3 , 4 , 10) |
| 2. trial court findings on evidence. (Para 5 , 7) |
| 3. substantial questions of law identified. (Para 11 , 12) |
| 4. discrepancy in legal notices examined. (Para 15 , 21 , 22) |
| 5. final ruling restoring original trial court's decision. (Para 20) |
| 6. final ruling and restoration of previous order. (Para 23) |
JUDGMENT :
Ashok S. Kinagi, J.
1. This second appeal is filed by the appellant challenging the judgment and decree dated 26.07.2011 passed in RA No. 124/2008 by the Principal District Judge at Shimoga.
2. The parties are referred to as per their ranking before the trial Court for the sake of convenience.
3. Plaintiff filed a suit for recovery of money against the defendant. It is the case of the plaintiff that the plaintiff is a registered Partnership firm and is a financial institution. It has obtained money laundering licence from the competent authority. Defendant borrowed a sum of Rs.1 lakh from the plaintiff on 27.04.2000 for the purpose of his business agreeing to repay the said loan with interest at the rate of 23%pa on demand. The plaintiff advanced a sum of Rs.1 lakh to the defendant through a cheque bearing No
The provision of clear documentation in loan transactions is essential for recovery, and the burden of proof lies with the debtor to demonstrate repayment.
The court affirmed that a money lender must have a valid license, but the absence of a license does not invalidate a loan agreement if the lender is not engaged in money lending as a business.
The non-registration of a partnership firm as required under Section 69(2) of the Indian Partnership Act, 1932 renders the suits filed by the unregistered firm non est in law, and subsequent registra....
An admission of signature on a negotiable instrument creates a legal presumption of consideration, which must be rebutted effectively by the defendant.
An indispensable Tool for Legal Professionals, Endorsed by Various High Court and Judicial Officers
Please visit our Training & Support
Center or Contact Us for assistance
Scan Me!
India’s Legal research and Law Firm App, Download now!
For Daily Legal Updates, Join us on :
Back to top
