Defendants borrowed a sum of Rs.12,00,000/- from plaintiff, promising to repay same with rate of interest of 18% per annum - plaintiff entitled to contractual rate of interest - complaint based on security cheque is maintainable

Citation

AIROnline 2023 MAD 390

Madras High Court

S. M. SUBRAMANIAM , J.

A.S - 148 of 2022 D/- 9 - 2 - 2023

P.Annadurai and Anr. v. K.Manoharan

Civil P.C. (5 of 1908), O.37 R.2 - Suit for recovery of money - Defendants borrowed a sum of

Rs.12,00,000/- from plaintiff, promising to repay same with rate of interest of 18% per annum

by executing promissory note, however they failed to repay - Defendants totally denied their

signatures and thumb impressions on promissory note and pleaded that the promissory note

was forged - They also pleaded that they signed on blank paper as promissory note only as

security - Passing of money from plaintiff to defendants was proved by plaintiff and eye witness.

- Version of defendants was not trustworthy - No interference with the judgment and decree

was warranted . Negotiable Instruments Act (26 of 1881), S.118