( 1 ) THIS application under Article 227 of the Constitution raises an important point of Company law.

( 2 ) THE dispute arises on a loan of Rupees 1000 granted by the plaintiff-petitioner to the defendant company on a bill of exchange being a Mundi for Rs. 1000. On the 22nd November, 1958, the defendant limited company drew a Hundi for Rs. 1000 on the second defendant Ram Chandra Nag who is also an opposite party here, payable to the plaintiff 90 days after date without grace which was accepted by the second defendant. It is the plaintiff's case that the Hundi was presented to the defendants for payment but the Hundi was dishonoured. The plaintiff sent letters of demand, but the money due was not paid. There was a reply by the defendant company on the 3rd August, 1959, denying the Hundi and the loan. The plaintiff filed the present suit on the 3rd December, 1959, before the Small Causes Court, Calcutta.

( 3 ) THE trial Court decreed the suit of the plaintiff in full with costs. The only contestant was the first defendant, the limited company. The acceptor did not appear. It is on record before the trial Court, on the evidence of P. W. 1 Kissen Rathi, the plaintiff himself that N

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