Back
IN THE HIGH COURT OF JUDICATURE AT MADRAS
Honourable Mr Justice A.A.NAKKIRAN
R. Ravinder Kumar – Appellant
Versus
T. Selvadurai – Respondent
JUDGMENT :
The Plaintiff filed the above suit against the defendants seeking the above said reliefs.
2. The case of the plaintiff, as set out in the plaint is as follows;
(a) The defendant approached the plaintiff for taking a loan and in pursuance thereof, he executed a promissory note dated 16.06.1994 in favour of the plaintiff. The defendant received a sum of Rs.1,80,000/- from the plaintiff at the rate of 2.5% interest per month, which can be compounded if there is any delay or default in payment of interest or repayment of the principal amount. The defendant, as security for the borrowed amount, has deposited with the plaintiff, his original sale deed bearing Document No.2697 of 1989, dated 10.07.1989 pertaining to the property situate in Maduravoyil Village, Chennai.
(b) Ever since the receipt of the loan amount, the defendant neither paid the interest, nor paid the principal amount. Hence, in order to secure the plaintiff, the defendant executed a written memorandum dated 12.01.2004, reduced to writing, recording the completed act of deposit of title deeds with the plaintiff while admitting the total debt of Rs.30,00,000/-, as it stood then by way of compound interest on the pri
A party must prove the authenticity of documents in debt recovery cases, and suits can be dismissed if filed beyond the limitation period.
The plaintiff's failure to disprove the defense taken by the defendant and the finding of the suit promissory note as not true and valid influenced the court's decision.
The presumption of consideration applies to promissory notes once execution is admitted, placing the burden on the defendant to prove otherwise.
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 emphasized that ocular evidence, such as the testimony of witnesses, can outweigh the opinion of a handwriting expert. The court held that the plaintiff's evidence, including the validity o....
The burden of proof lies with the plaintiff to establish the execution of the promissory note and passing of consideration, and the credibility of witnesses and consistency of evidence are crucial in....
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
