IMPORTANT POINT
A judgment upon admission requires clear and unequivocal acknowledgment of debt, which was not established in this case.

JUDGMENT :

KRISHNA RAO, J.

1. The Plaintiffs have filed the present application for a judgment upon admission for a sum of Rs.1,33,33,333/- along with an interest of 18% per annum.

2. The plaintiff nos. 2 and 4 are the daughters, and the plaintiff no. 3 is the daughter-in-law, of the plaintiff no. 1, and they are all engaged in a family business.

3. The defendant is a distant relative of the plaintiffs, being the plaintiff no. 1’s sister’s husband’s brother.

4. The defendant had requested the plaintiff for financial assistance of Rs. 1 (One) Crore, and accordingly after discussions between the plaintiffs and the defendant, the plaintiffs have agreed to pay the discussed amount of Rs.1 (One) Crore to the defendant. It was also discussed between the parties that the advanced requisite sums would be repaid by the Defendant within 5 (five) Years, and that the said advances could be recalled in case of default or at the option of the Plaintiffs for any reason on demand, whichever was earlier.

5. It was also further agreed, that the defendant, would continue to make regular payment of interest at the rate of 10% per annum.

6. The Plaintiff No. 2 has lent and advanced a sum of Rs.30,00,000/- to the defendant on 13th July, 2015, by RTGS through the HDFC Bank, Stephen House Branch, the Plaintiff No. 3 has lent and advanced a sum of Rs.40,00,000/- to the defendant on 13th July, 2015, by RTGS through the same bank and the Plaintiff No. 4 has lent and advanced an amount of Rs.30,00,000/- by RTGS through the same bank on 13th July, 2015.

7. The defendant has confirmed the acknowledgment of the total amount of Rs. 1(One) Crore by executing and signing thereof a confirmation of accounts in favour of the plaintiffs.

8. Pursuant to the agreement between the parties, the Defendant has made payments of interest to the plaintiff no. 2, an aggregating sum of 1st Rs.11,15,342.47/- up to October, 2019. An aggregating sum of Rs.14,87,123.29/- was paid to the Plaintiff No. 3 up to 1st October, 2019 and an aggregating sum of Rs.11,15,342.47/- was paid to Plaintiff No. 4 up to 1st October, 2019.

9. The defendant, however, defaulted in his obligation to pay interest and also failed to discharge his liabilities towards repayment of the principal amount.

10. The plaintiffs submit that they have on several occasions, attempted to discuss the repayment with the defendant, directly as well as through well-wishers and family for payment of interest as well as principal amount. But despite such repeated attempts, the defendant failed to repay any sum or interest after 1st October, 2019.

11. Left with no recourse, the plaintiffs by a letter dated 22nd July, 2022, the plaintiffs called upon the defendant seeking repayment of the outstanding sum of Rs.1,33,33,333/- within 7 (seven) days of receipt of the letter, to which the defendant had replied by a letter dated 6th August, 2022 and stated that the plaintiffs are making incorrect, false and fictitious statements and the sums paid by the defendant to the plaintiffs are payment for purchase of shares and not the interest amount.

12. The defendant had failed to repay the amount along with interest inspite of receipt of notice accordingly the plaintiffs have filed the suit. The claim of the plaintiff is as follows: