9911796707
TMI Blog1972 (12) TMI 92X X X X Extracts X X X X X X X X Extracts X X X X ..... 2 C.P C. Objection having been taken by the defendant that the Hundi was insufficient in stamp, the following preliminary issue was framed :- Whether the document in question is insufficient in stamp ? If so its effect. The trial court found that the document in question did not require any stamp duty. It is this order which is being challenged in the civil revision. The document in question reads as follow :- 'RS.1500.00 Dated 4th November, 1968. Due Date 4th April. 1969. Hundred and eighty days after this date I Suraj Ram Khurana 40/1 Shaktinagar Delhi-7 promise to pay to Shri Hari Rattan and Smt. Prem Vati (either or survivor) R/o H. No 1/339 Hari Chand Building Sadar Bazar, Delhi Cantt. a sum of ₹ 1500.00 (Rupees one thou ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ery of any bill of exchange or promissory note in satisfaction of any sum oF money, or for the payment of any sum of money out of any particular fund which may or may not be available, or upon any Condition or contingency which may or may not be performed or happen. Section 2(22) defines promissory note to mean a promissory note as defined by the Negotiable Instruments Act, 1881. Counsel for the petitioner defendant sought to urge that the document in question was not a hundi but a promissory note and even if it was to be treated as being payable on demand it has to bear a stamp as provided under Article 49(a) of Schedule I of the Act and as this document did not bear the stamp prescribed it was not admissible. This argument has no force as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... b) of Schedule I of the Act as being a promissory note payable otherwise than on demand. A similar view was also taken in Alamelu Ammal v. P. Rangai Gounder, where the promissory note agreeing to pay within two years. was held to be not payable on demand, as the words 'payable within two years' were introduced to give the debtor time within which to pay the debt and that within that time that promise could not enforce the debt. (5) The case of Alamelu Ammal was approved by the Division Bench in Thenappa Chettiar v. Addiyappa Chettiar, where it was held that a promissory note promising to pay after two years was by necessary implication not a document payable on demand as a period of two years was specified and it cannot be said ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ate. It maybe that a cheque is delivered to a party on a particular date say 1st January but if it bears a particular date say 15th January, it is still payable on demand immediately on the date it bears. There is no question of a cheque being payable on a date subsequent to the date of its execution as by the very nature of its definition a cheque cannot be expressed to be payable otherwise than on demand. Merely by delivering a cheque earlier to the date of its execution does not mean that cheque is not payable on demand. But these considerations do not apply to the case of a Hundi which though executed on a particular date containing a promise to pay only 180 days after the date of execution of the Hundi. In order that a Hundi should be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent, if accepted would make the whole clause (b) of Article 13 totally redundant and otiose. I can see no logic why if a document in the first instance contains a period of 180 days after its execution when alone it is payable that it should be treated as payable on demand, while a document which mentions that it is payable more than three months hut not more than six months after date or sight it would be covered by Sub-clause (ii) of clause (b) of Article 13 of the Act. This argument also cannot be accepted if a reference is made to clause (c) of Article 13 which specifically provides that if a bill of exchange is payable at more than one year after date or sight a particular stamp has to be paid. According to Mr Bhatia had the present do ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
