- (1.) This appeal has been filed against the impugned judgment of the Karnataka High Court dated 25.03.2000 in R.F.A. No. 531 of 1997. We have heard learned counsel for the parties and perused the record.
(2.) The plaintiff-appellant has alleged that he was carrying the business of commission agent. The defendant was having an areca nut (supari) garden and he used to supply the areca nuts to the plaintiff. The defendant used to receive money from the plaintiff off and on, which the plaintiff used to advance him to secure regular supply of the areca nuts. It was alleged by the plaintiff that defendant had borrowed Rs.72,044.43 paise as per the ledger account regularly maintained by the plaintiff. Hence the plaintiff filed a suit for recovery of this amount with interest at the rate of 18 per cent per annum.
(3.) The defendant denied the plaintiffs" case and advanced the plea that plaintiff was a money-lender and he did not have a licence as required by the Karnataka Money Lenders Act, 1961. Consequently, the defendant alleged that the suit was not maintainable as the plaintiff had not taken a licence under the aforesaid Act.;