JUDGMENT

The appellant is the defendant in a suit for recovery of money based on a promissory note which is a cheque, drawn for an amount of Rs. 3,00,000/- given on 26.06.2016. According to the plaintiff, there were several business transactions between the defendant and the plaintiff and the defendant had borrowed a sum of Rs. 3,00,000/- from the plaintiff and agreed to repay the amount within 3 months. As security for the sum borrowed, a cheque which was drawn on the Ernakulam District Co- operative Bank, Marine Drive Branch was given by the defendant. The cheque was presented by the plaintiff for encashment and the same was returned on 03.10.2016 with endorsement ‘account was closed’. The plaintiff issued a lawyers notice calling upon the defendant to repay the amount and it was accepted by the defendant and issued a reply notice dated 28.10.2016. The defendant resisted the suit by contending that, from 2000 onwards, the plaintiff and the defendant are involved in real estate business on