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2017 (3) TMI 1271 - HC - Indian LawsSuit for recovery - Held that:- Respondents have filed certified copies of the entire proceedings of the complaint case filed by them against the Company, the appellant/plaintiff and the other Directors under Section 138 of NI Act. The said documents have been referred to and dealt with at some length in para 27 of the impugned judgment wherein the learned trial court has observed that the complaint case was settled between the parties after the accused persons including the appellant herein had paid a sum of ₹ 21 lakhs to the respondents. Nowhere in the said proceedings did the appellant take a plea that he had extended a personal loan to the respondent/company and that they had admitted the said liability and agreed to pay back the alleged loan amount to him. All the aforesaid facts and circumstances lends credence to the version of the respondents that the appellant had issued a cheque for ₹ 10 lakh from his personal account in favour of the respondent No.1/Company, but the said payment was in part discharge of the amounts due and payable by his Company towards the price of the goods purchased from the respondents and the said cheque was issued by him because the Company was in financial distress at that time. On a conspectus of the pleadings of the parties and the evidence brought on record, it has to be held that the version of the appellant that he had advanced a personal loan of ₹ 10 lakhs to the respondent No.1/Company, remains unsubstantiated. The said version has been conclusively demolished by the respondents/defendants and rightly rejected by the learned trial court as improbable and unbelievable. As a result, the present appeal fails and is accordingly dismissed in limine along with the pending applications.
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