https://www.taxtmi.com/caselaws?id=421207 Material alteration of the numerical figures in promissory notes was treated as affecting a claim for loan recovery, despite consistency in the amount written in words. Although execution of the notes was admitted, the defendant disputed consideration, and the alteration undermined reliance on the statutory presumption of consideration under the Negotiable Instruments Act. The plaintiff was required to establish payment and consideration independently in light of the disputed alterations and discrepancies concerning prior transactions. The recovery suit was dismissed, and the appellate challenge failed because no substantial question of law warranted interference with the lower appellate decision. en-us Wed, 30 Mar 2022 00:00:00 +0530 Wed, 20 Apr 2022 08:30:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=421207 Material alteration of the numerical figures in promissory notes was treated as affecting a claim for loan recovery, despite consistency in the amount written in words. Although execution of the notes was admitted, the defendant disputed consideration, and the alteration undermined reliance on the statutory presumption of consideration under the Negotiable Instruments Act. The plaintiff was required to establish payment and consideration independently in light of the disputed alterations and discrepancies concerning prior transactions. The recovery suit was dismissed, and the appellate challenge failed because no substantial question of law warranted interference with the lower appellate decision. Case-Laws Indian Laws Wed, 30 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=421207