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RITU TAGORE
Sawai Singh – Appellant
Versus
Jai Bhagwan – Respondent
JUDGMENT
Mrs. Ritu Tagore, J.
The appellant - defendant is assailing the concurrent findings of the learned Courts below, whereby the suit of the respondent-plaintiff for recovery of Rs. 4,80,800/- (Rs. 2,80,000/- principal amount and Rs. 2,00,800 /- as interest) based on pronote as well as receipt dated 20.03.2012, has been decreed, and the first appeal preferred by the appellant, has been dismissed.
2. For sake of convenience, parties to the lis hereinafter, shall be referred to by their original status in the suit.
3. The plaintiff, filed a suit for recovery with the averments that defendant borrowed an amount of Rs. 2,80,000/- from him on 20.03.2012, regarding which defendant executed a pronote and receipt of even date and agreed to pay interest @ 24% per annum. After reading and understanding the contents of pronote and receipt, defendant signed and thumb marked them in token of its correctness and acceptance. It is pleaded that despite repeated verbal requests and service of legal notice dated 18.02.2015, defendant failed to repay the amount that necessitated him to file suit against defendant.
4. On put to notice, defendant appeared and filed his written statement denying borr
The presumption of consideration under Section 118(a) of the Negotiable Instruments Act applies unless rebutted, and the burden of proving fraud lies with the defendant, who failed to provide evidenc....
The plaintiff must discharge the legal burden of proving consideration for a promissory note, failing which the suit may be dismissed.
The presumption of consideration under Section 118 of the Negotiable Instruments Act is robust against mere denial by the borrower of signing promissory notes.
The presumption under Section 118 of the Negotiable Instruments Act arises when execution of a promissory note is established, placing the burden on the defendant to disprove the transaction.
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 appellate court found the promissory note valid and supported by consideration, reversing the trial court's dismissal of the suit.
The burden of proof regarding execution lies on the plaintiff; mere denial by the defendant does not suffice for presumption of consideration.
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