Mumbai Court September 1917 Judgments

Markandrai Kalyanrai Mehta Vs. Virendrarai Chandraprasad Desai and anr ...

Court: Mumbai

Reported in: AIR1917Bom262; (1917)19BOMLR837; 42Ind.Cas.815

Kajiji, J.1. The plaintiff, Markandrai Kalyanrai Mehta claims from the defendants Rs. 48,000. It appears that on 15th February 1909 the plaintiff advanced Rs. 50,000 at interest at the rate of 6 per cent, per annum for a period of three years to' the firm of Y. H. Desai & Co. who passed in favour of the plaintiff a deposit receipt for this amount. The firm of Y. H. Desai & Co. at that time consisted of three brothers, Laxmiprasad, Yeshwantprasad and Chandraprasad the father of the defendants in this suit. The amount due under the receipt became due and payable on 15th February 1912 but the firm of Y. H. Desai and Co. being unable to pay the loan passed a fresh deposit receipt to the plaintiff for Rs. 50,000 repayable after one year with interest at the same rate. The deposit receipt of 15th February 1909 was returned by the plaintiff to the firm of Y. H. Desai & Co. Before the loan of Rs. 50,000 was repaid Chandraprasad Hariprasad Desai died on 28th February 1913 leaving two sons, the ...