cpc

validity of a promissory note


Hi all,

The palintiff filed a suit for recovery of money under a pronote (i.e typed on a Rs100 Stamp Paper and styled as a pronote)  purpoted to have been executed by defendant. The defendant denied the alleged execution of pronote and contended that earliar plaintiff and him self were in real estate business, and on one occassion as he wated to go out of station, and on request of the plaintiff he has signed on a balnk Rs 100/- stamp paper for the real estate business, and that he has no monetary transactions whatsoever with the with the plaintiff, and the plaintiff fabricated the said document said to be a promissory note.

on a careful perusal of alleged pronote by his counsel, he found that there is condition to pay the loan amount in installments, upon which the counsel for defendant took a plea that the alleged pronote is not satisfying the requirements under sec 4 of N.I.Act and prayed the Hon' ble court to dismiss the above suit as the charecter of the pronote was changed.

Is there any case law that the suit lis liable to be dismissed if all the ingreidants of Sec 4of N.I act is not satisfied by the Plaintiff?

if there is any other case laws available for defendant to succeed in the case in the given circumstances of the above case kindly intimate me through e-mail.

Thanking you in advance.

 
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ADVOCATE & DIRECTOR

 This is as per sec 4 NI ACT 1881 , document in question .If you inform the value of the pronote accordingly you can impound for the correct stamp duty as per INDIAN STAMP ACT.

Any how as per the case law--- Kotla sudeerkumar v  Mullavarapu jojayya alias jogaiah chowdary

AIR 2002 A.P 170 , THE CASE IS FALLING UNDER DOC IN Q. 

 
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