S. Vimala, J. - (1.)WHETHER the plaintiff is entitled to a decree based upon the admission made by the defendant in the pleadings or otherwise (written statement and Exs.P -4 and P -5) admitting his liability, based upon the provisions of Order XII Rule 6 of the Civil Procedure Code, providing for Judgment on admission?
1.1. When the acknowledgment of liability, though made after the period of limitation, satisfies the conditions laid down under Section 25(3) of the Indian Contract Act, would it amount to a fresh contract in the eye of law and whether it can be made the basis of an action for recovering the amount promised and acknowledged therein by the debtor?

1.2. These are the main issues to be answered in this suit.

(2.)THIS suit has been filed by the plaintiff seeking recovery of a sum of Rs. 25,50,000/ - with future interest at 12% p.a. on the principal sum of Rs. 25 lakhs from the date of decree till the date of payment. The plaintiff, who is an Income -Tax Assessee, is also a leading Tamil Producer/Distributor -cum -Director.
3.1. The defendant is also one among the leading producers in the film industry.

3.2. For a Mega Production Venture, the defendant borrowed a sum of Rs. 25 lakhs from the plaintiff, in the year 2000, through three cheques. The cheques were duly encashed by the defendant through the Tamil Nadu Mercantile Bank. Having realized the encashed money and having been a borrowed money, it is the duty of the defendant to repay the same. But, as promised, the defendant did not repay the amount.

3.3. The defendant gave a letter to the plaintiff on 02.01.2007 admitting his liability to the tune of Rs. 25 lakhs. But, even thereafter the suit amount was not paid. That compelled the plaintiff to file the suit.

(3.)THE defendant filed a written statement raising the following averments:
1. Suit is liable to be rejected as provided under Order VII Rule 11(d) of the Code of Civil Procedure.

2. The claim of the plaintiff is barred by limitation

3. The defendant never acknowledged his liability and hence the suit is barred by limitation.

4. Even assuming that there was an acknowledgment of liability, still as it was not made within the period of limitation, still the suit claim is barred.