SH LALTHANGFALA S/O RANGKUNGA Vs. SH C LALTANPUIA S/O C THANKHUMA
HIGH COURT OF GAUHATI
Sh Lalthangfala S/O Rangkunga
Sh C Laltanpuia S/O C Thankhuma
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Michael Zothankhuma, J. -
(1.) Heard Mr. C. Lalramzauva, learned counsel for the appellant as well as Mr. L.H. Lianhrima, learned counsel for the respondent No. 1. None appears for the respondent No. 2.
(2.) The matter relates to non-payment of loan amount of Rs. 2 lakhs by the appellant to the respondent No. 1 and the issue to be decided is whether the appellant had given his signature on the forwarding letter of the assignment note of the Life Insurance Policy No. 0051833571, issued by the Bajaj Allianz Life Insurance Company Limited and other documents.
(3.) The facts of the case, as submitted by the plaintiff/respondent No. 1 in Civil Suit No. 68/2009, is that the appellant had borrowed a sum of Rs. 2 lakhs from the respondent No. 1 with a promise to repay the same within a period of one year. The appellant mortgaged his Insurance Policy No. 0051833571 in favor of the respondent No. 1 as security for the said loan. The loan was to be repaid within a period of one year, failing which, the matured value of the Insurance Policy would be taken by the respondent No. 1. The respondent No. 1 has stated in the Civil Suit that as the appellant did not repay the loan amount, the matured value of the Insurance Policy was to be given to the respondent No. 1 and in this respect, the appellant had put his signature on documents which was to allow the respondent No. 1 to receive the matured value of the assignment note, which was accepted by the respondent No. 2.;
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