Sh. Lala Ram Gupta, S/o Sh. Tek Chand, R/o B183, J.J. Colony, Raghubir Nagar, New Delhi110027. .......Defendant SUIT FOR RECOVERY OF RS.3,52,725/ (RUPEES THREE LACS FIFTY TWO THOUSAND SEVEN HUNDRED AND TWENTY FIVE ONLY) WITH COSTS AND INTEREST. DATE OF INSTITUTION : 28.02.2018 DATE OF ARGUMENTS : 02.09.2023 DATE OF DECISION : 21.09.2023 JUDGMENT 1. The plaintiff bank has filed this suit against the defendant seeking recovery of Rs.3,52,725// with costs, pendentelite and future interest @ 18% per annum. Civil DJ No.255/2018 Suresh Soni vs. Lala Ram Gupta Page No. 1 of 10 2. Facts pleaded in the plaint: 2.1The facts in brief, stated in the plaint, are that the plaintiff is sole proprietor of M/s Soni Metal Scrap and has been operating under the aforesaid business name. The defendant was stated to be known to the plaintiff on account of business dealings. It is further stated that the defendant approached the plaintiff for some urgent bonafide need of Rs.9.50,000/ (Rupees Nine Lacs Fifty Thousand only) and since the plaintiff had financial capability, at that time, he paid Rs.9.50,000/ (Rupees Nine Lacs Fifty Thousand only) to the defendant as friendly loan. The loan amount was disbursed to the defendant in the following manner: i) Rs.3,00,000/ were paid by cheque No.101052 on 20.02.2014; ii) Rs.5,00,000/ were paid by cheque No. 101055 on 31.03.2014; iii) Rs.1.5 lacs were paid by cheque No. 101057 on 21.04.2014. 2.2 It is stated that out of the aforesaid friendly loan amount, the defendant repaid Rs. 50,000/ by depositing in cash on 31.03.2014, Rs.4,50,000/ by cheuqe No. 003300 on 03.04.2014 and Rs.1,00,000/ vide cheque no. 003358 on 28.04.2014. Thereafter upon persuasion, the defendant issued three cheques, i.e., cheque bearing no. 287168 dated 28.08.2014 for a sum of Rs.2,00,000/, cheque no. 004970 dated 15.06.2015 for a sum of Rs.75,000/ and cheque no. 004969 dated 15.07.2015 for a sum of Rs.75,000/, drawn upon Allahabad Bank in favour of the plaintiff's business Civil DJ No.255/2018 Suresh Soni vs. Lala Ram Gupta Page No. 2 of 10 name of his pending dues. The aforesaid cheques were returned dishonored upon their presentation by the plaintiff. 2.3 It is further stated that later on, upon persuasion of the plaintiff, the defendant paid a sum of Rs.27,000/ in cash to the plaintiff on 26.09.2016. The defendant is further stated to have promised to clear the remaining pending balance of the plaintiff, however, instead of paying the same, he kept on postponing the repayment of balance debt. 2.4 It is further stated that at the time of taking of said friendly loan from the plaintiff, the defendant had promised to repay the same very soon and hence, the plaintiff did not ask him to pay any interest thereupon. However, the defendant has delayed the payment of the plaintiff, therefore, the defendant is liable to refund the balance pending due amount of the plaintiff along with interest at the rate of 18% per annum being the prevailing market rate. 2.5 It is further stated that the plaintiff raised his demand with regard to the pending dues to the defendant but the defendant failed to clear the same. The plaintiff submits that he sent a legal notice dated 12.01.2018 thereby calling upon the defendant to pay the pending due amount of Rs.3,23,000/ with interest @ 18% per annum. The aforesaid notice is stated to have been served, however, the defendant neither send any reply nor release the pending due amount of the plaintiff. Accordingly, the present suit has come to be filed. 2.6 It is submitted that the present suit filed by the plaintiff is within the period of limitation from the date of receipt of last payment, which is 26.09.2016. Civil DJ No.255/2018 Suresh Soni vs. Lala Ram Gupta Page No. 3 of 1