Duraimurugan vs M.Rajendran — 28/2024

Case Summary: Duraimurugan v. M. Rajendran and R. Kasthuri (28/2024) Decision: The court decreed the suit in favor of petitioner Duraimurugan, ordering defendants M. Rajendran and R. Kasthuri to pay Rs. 3,55,529 (principal of Rs. 3,00,000 plus interest) with 12% post-judgment interest until verdict date and 6% thereafter until payment. Key Reasoning: The court found that the defendants validly executed a promissory note on 10.12.2022 acknowledging receipt of Rs. 3,00,000 as loan with agreed monthly interest. Under Section 118 of the Negotiable Instruments Act, execution of a promissory note creates a presumption of consideration received, which the defendants failed to rebut with credible evidence. The court rejected defendants' contradictory claims about receiving money from a third party instead. This case analysis is maintained by casestatus.in based on publicly available court records.