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R. SAKTHIVEL
A. Parameswaran – Appellant
Versus
Tirumalayan Finance Karaikurichi – Respondent
JUDGMENT :
PRAYER: Second Appeal is filed under Section 100 of the Code of Civil Procedure, 1908 praying to set aside the Judgment and Decree dated March 28, 2017 passed in A.S.No.23 of 2015 on the file of Principal District Court, Namakkal, reversing the Judgment and Decree dated April 10, 2015 passed in O.S.No.154 of 2005 on the file of Subordinate Court, Namakkal.
This Second Appeal is directed by the unsuccessful defendants before the First Appellate Court, against the Judgment and Decree dated March 28, 2017 passed in A.S.No.23 of 2015 on the file of ‘Principal District Court, Namakkal’ [‘First Appellate Court’ for short], whereby the Judgment and Decree dated April 10, 2015 passed in O.S.No.154 of 2005 on the file of ‘Subordinate Court, Namakkal’ ['Trial Court' for short] was reversed.
2. Hereinafter, for the sake of convenience, the parties will be denoted as per their array in the Original Suit.
Plaintiff’s Case in Brief:
3. In the Plaint, the plaintiff has averred that the defendants, who are husband and wife, borrowed a sum of Rs.1,00,000/- with interest at the rate of 24% per annum, for their family and business expenses on May 29, 2002, by executing a Promissory Note. On Jul
The execution of a Promissory Note is sufficiently proved by witness testimony, and non-production of accounts is not fatal to the plaintiff's case.
The validity of a promissory note is upheld when supported by evidence of execution and consideration, and a second appeal requires substantial questions of law to be present.
Point of law: Recovery of amount - Suit promissory note had been fabricated and the litigation launched on that basis - Probable reason as to why the case itself has been foisted
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 court reaffirmed that the burden of proof regarding the authenticity of a promissory note lies with the party alleging forgery, and the evidence must be evaluated on the preponderance of probabil....
The presumption of consideration under Section 118 of the Negotiable Instruments Act applies once execution of the promissory note is established, placing the burden on the Defendant to rebut this pr....
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