- (1.) The plaintiff's suit for declaration of title and injunction against interference with possession and further for redemption of the security under the Bengal Money-Lenders Act, 1940 ("1940 Act" for short) was dismissed by the learned trial Court. In First Appeal, the decree was reversed which reversal was maintained in Second Appeal by the High Court. Aggrieved, the defendants are in appeal before this Court.
(2.) We have heard the learned counsels for the parties. We have considered the materials on record including the judgment of the First Appellate Court and the High Court.
(3.) The bone of contention between the parties is whether the Kabala i.e. written agreement dated 28th October, 1970 was a loan transaction as claimed by the plaintiff or an outright sale as claimed by the defendants. The plaintiff's suit, as noticed, was also for redemption of the security offered against the loan, as claimed by the plaintiff. Such redemption was sought under the provisions of the 1940 Act.;