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1978 Supreme(Mad) 382

V.SETHURAMAN
M/s. M. M. Abbas Brothers and others – Appellant
Versus
Seth Chethandas Fathechand and another – Respondent


Advocates:
S. Gopalaratnam and P. N. Venugopalan, for Appellants.
N. Srivatsamani and R. Krishnaswami, for Respondents.

JUDGMENT.- Defendants 2 to 4 in O. S. No. 2882 of 1971 in the City Civil Court at Madras are the appellants. The plaintiff filed the suit for recovery of Rs. 17,500 due under three promissory notes, two of which for Rs. 4,000 each, were executed on 11th January, 1969, and the third for Rs. 3,500 on 24th January, 1959. The promissory notes carried interest at 24 per cent per annum. They were executed by one Mallik on behalf of the first defendant. One Moshin Bhai has signed the promissory note as a joint executant and according to the plaintiff he was a partner in the second defendant-firm and had executed the three promissory notes only as such partner so that the second defendant firm, and the partners thereof, defendants 3 and 4, are jointly and severally liable for the debt.

2. The first defendant is a proprietary concern of one Khatija Bee. She filed a written statement stating that the plaintiff had advanced only Rs 7,000 in each, that a sum of Rs. 6,000 had been paid back and that only he balance of Rs. 1,000 was due on the promissory notes. The rate of interest viz., 24 per cent per annum shown in the promissory motes was said to be usurious and illegal.

3. Defendants 2 to 4 f










































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