Dipak Kumar Sen, J. - (1.) On the 10th Aug., 1983, Ram Niwas Kumarja Pvt. Ltd., the plaintiff, instituted this suit against Prem Prakash Arya, the defendant, claiming, inter alia, a decree for Rs. 1,02,077.50 p. with further interest.
(2.) The plaintiff alleges that it had lent and advanced to the defendant Rs. 50,000/-on the 7th Nov., 1980 and Rs. 45,000/- on the 27th June 1981. The amounts were repayable on demand with interest payable every month at the rate of 1 % per month, which was enhanced to 14% per month in Nov., 1982.
(3.) The plaintiff alleges further that it demanded repayment of the said loans with interest which the defendant failed and neglected to pay.;