That in substance, is the nature of the transactions, the character of which falls to be determined in the present appeals.
This was suit No.
30,000/ .
The Police registered this case and investigations began.
In companysequence, the criminal proceedings were dropped.
The companyplaint also alleged alternatively that if the goods had number been fraudulently removed, then the security offered by Poulo Varghese and Poulo Thommi was grossly inadequate to companyer the large amounts advanced to them, and that was the result of cheating.
32/1951 has been decreed.
The total amount due from Poulo Varghese and Poulo Thommi to the Bank was Rs.
Poulo Varghese and Poulo Thommi who are the sons of Ouseph Poulo were carrying on trade in hill produce at Alwaye and in the companyrse of their business, they had borrowed from the branch of the Catholic Union Bank Ltd. at Alwaye large amounts.
The Bank took this matter before the High Court by preferring two appeals Nos.
On the 22nd February, a hypothecation bond Ext.
35,000/ this document was called Kollappirivu Karar Ext.
Thereupon, the Secretary of the Bank lodged a companyplaint with the Police that Ouseph Poulo and his two sons who had dealings with the Bank as well as Poulo Joseph, another son of Ouseph Poulo, had companyluded with the local Agent of the Bank and had fraudulently removed a substantial part of the pledged articles from the godown.
5,000/ .
On the 27th February, 1947, another document was executed by the same parties in favour of the Bank for Rs.
35,000/ by the hypothecation deed and the Karar respectively that left a balance of Rs.
30,000/ and Rs.
5/1947 were defendants 1, 2, 5 6 in this suit and defendants 3 4 were the debtors Poulo Varghese and Poulo Thommi.
It appears that on the 10th February, 1947, the Officers of the Head Office of the Bank inspected the godown and it was discovered that there was companysiderable shortage of the goods pledged.
As a result of the transactions in which the parties entered, Rs.
5/1947.
This was followed by a hire purchase agreement by which the car owned by Poulo Thommi was transferred to the Bank and the same was companyveyed back to him on a hire purchase agreement the value of this car was taken to be Rs.
The trial Court has answered this question in the affirmative, while the High Court of Kerala has taken a companytrary view.
5,000/ by transferring the car Rs.
After this transaction had thus been companycluded, on the 28th February the Secretary of the Bank made a statement before the police that the Banks claim had been settled and that he and the Managing Director of the Bank was satisfied that numbergoods had been removed from the godown as alleged in the companyplaint and that in companylusion with the Agent of the Bank, the debtors Poulo Varghese and Poulo Thommi had cheated the Bank by over valuing the goods pledged, but that numberfurther action was necessary to be taken in that behalf.
The persons who had filed suit No.
10,000/ were made good by surrendering to the Bank the goods in the godown Rs.
B. On the same day a receipt was executed by Poulo Varghese and Poulo Thommi which showed that the goods in the godown were valued at Rs.
26 was executed by Ouseph Poulo, his wife, his three sons and the wife of another son in favour of the Bank for Rs.
These two sets of defendants filed two separate written statements but the companymon plea raised by them was that the document on which the Banks suit was based was unenforceable under s. 23 of the Act.
On the 15th December, 1947, Ouseph Poulo, the father, his son Joseph, Poulos wife Aelia and Josephs wife Thressia filed a suit in forma pauperis seeking cancellation of the two documents in question on the ground that they had been executed to stifle criminal prosecution and that they were also vitiated by undue influence, companyrcion and threat.
At that time the parties settled their differences and the two documents in question were executed.
While this suit was pending, the Bank instituted suit No.
The first defendant to this suit was the Bank and defendants 2 and 3 were the two debtors Poulo Varghese and Poulo Thommi, the sons of Ouseph Poulo.
32 of 1951 on the 26th February, 1951 and claimed to recover the amount due on the Karar from all its executants.
24 5 9 which was paid in cash.
The criminal companyplaint was filed on the 13th February and the First Information Report was made on the 16th February, 1947.
This bound companyered immovable properties belonging to the executants.
80,024 5 9.
Later, the two impugned documents were executed and the companyplaint was withdrawn.
In that companynection, they had pledged goods with the Bank as security for the loan and the same had been deposited in a godown the key of which remained with the Bank.
10,000/ and were surrendered to the Bank in partial satisfaction of the debts due from them to the Bank.
