UMEDRAJ JAIN Vs. V. SUDARSANAN

JUDGEMENT

(1.) Leave granted.

(2.) The present appeal arises out of judgment and order passed by the Division Bench of the High Court of Judicature at Madras dismissing the appeal preferred by the appellant against order of Single Judge directing him to pay Rs.19,54,946.00 (Rupees Nineteen Lakhs Fifty-Four Thousand Nine Hundred Forty Six Only) to the respondent. The short facts relevant for our purpose are as follows.

(3.) The respondent filed a suit for recovery of money against the original defendants for a sum of Rs.79,69,544.00 with interest @ 9% on the principal amount of Rs.58,50,000.00 loaned by the said respondent under a mortgage through title deeds. Pending disposal of the suit, the appellant purchased the property from the original defendants. The appellant is said to have filed an application for impleadment and that came to be dismissed and the said order attained finality. The suit was decreed on 5/10/2010 and the final decree came to be passed against defendants on 29/8/2011 for a sum of Rs.79,69,544.00 with further interest at the rate of 9% per annum on Rs.58,50,000.00.