CHANDRASEKHARAN Vs. M.MURAMARDHANAN

JUDGEMENT

(1.) The sole defendant in O.S.No.499 of 2010 before the Additional Sub Court, Palakkad is the appellant. Decree for money granted with interest in favour of the plaintiff is challenged by the appellant.

(2.) The plaintiff's case is that defendant borrowed an amount of Rs.1,69,000/- on 18.5.2001 and executed Ext.A1 promissory note on the same day agreeing to repay the money as and when demanded. It is said that on same day itself, title deed in respect of plaint schedule 2 1/2 cents and a shop building in the name of appellant was also handed over to plaintiff creating an equitable mortgage and evidencing the creation of security, Ext.A2 letter dated 18.5.2001 was executed in the name of the plaintiff. Subsequently, there were short repayments of money which according to plaintiff were endorsed on the reverse side of Ext.A1. Plaintiff demanded the appellant to clear the balance outstanding and since he failed, after sending suit notice, the present suit for money was filed for the balance amount.

(3.) The appellant admitted the borrowal as well as the execution of Ext.A1 promissory note in specific terms. The sole contention raised by him is that suit filed on 21.7.2010 after three years of date of execution of promissory note is barred by limitation. The endorsements on the reverse side of Ext.A1 were denied as having been consented to by him or made with his knowledge. According to him, none of the endorsements is binding on him and the last endorsement dated 28.6.2007 is neither valid nor sufficient for extending period of limitation as amounting to acknowledgment made under law.