R. GUNASEKARAN Vs. R NANDHAVIJAYAN

JUDGEMENT

(1.) This Second Appeal is filed against the concurrent findings of the Courts below in a suit on pronote.

(2.) Heard the learned counsel for the appellant.

(3.) The case of the plaintiff is that on 12.09.2001, the defendant borrowed a sum of Rs.40,000/- from him promissing to repay the money together with interest at the rate of 24% per annum. Promissory Note Ex.A1 was executed and the money was received by the defendant in the presence of witnesses. Inspite of repeated demand, the defendant failed to repay the money. Hence, notice dated 04.03.2003 Ex.A2 was served on the defendant. But after receiving the notice, the defendant failed to pay the money. Hence, the suit for recovery of a sum of Rs.68,747/- with interest at the rate of 24% per annum on the principal amount from the date of filing the suit till realisation.