SUDHINDRA MOHAN GUHA, J. - (1.) THIS application for revision is directed against the order dated 19 -8 -78 passed by the learned Munsif, Raghunathpur, rejecting the application under Section 38(1), of the Bengal Money -Lenders Act, 1940 praying for taking accounts of the loan described in the petition and for declaring the amount due to the lender.
(2.) THE case of the petitioner was as follows: - - The applicants, being in need of money, approached the Opposite Party for a loan of Rs. 2,999 and secured that loan after executing Kobala Deed in favour of the Opposite Party, who in his turn executed a Deed for reconveyance of the property mentioned in the Kobala Deed and as such the transactions by these two Deeds of the same date were in substance a loan transaction. The Opposite Party grew paddy in six bighas of Kanali lands from 1970 to 1977, and after deducting the cost of cultivation he had got more than what he was entitled to.
(3.) THIS application was opposed by the Opposite Party on the averment that the transaction was not at all a loan transaction but an out and out sale with an option to repurchase.;